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Prize Bonds

  • 10-09-2012 8:59pm
    #1
    Twoandahalfmen
    Banned (with Prison Access) Posts: 769 ✭✭✭


    Can someone please explain how prize bonds work and please answer my following Questions.

    1.If i buy the minimum 4 bonds for 25 is there a limit on what i can win or can i win up too a million.

    2.How are winners decided is it like a lotto

    3.Can i sell my bonds for the price i bought them for

    4.and if i can sell them how do i do it

    5.What is the minimum age to buy them


Comments

  • #2
    Awful_Bliss
    Registered Users, Registered Users 2 Posts: 262 ✭✭Awful_Bliss


    Twoandahalfmen wrote: »
    Can someone please explain how prize bonds work and please answer my following Questions.

    1.If i buy the minimum 4 bonds for 25 is there a limit on what i can win or can i win up too a million.

    2.How are winners decided is it like a lotto

    3.Can i sell my bonds for the price i bought them for

    4.and if i can sell them how do i do it

    5.What is the minimum age to buy them

    1. You can win prizes from €75 up to a million.
    2. Yeah, it's like a lotto. Number on your bond is 'pulled out of a hat' by a computer.
    3. Yes.
    4. Notify Prizebonds and they'll send you your bonds in the form of a cheque.
    5. I got my first ones when I was 13 or 14 if I remember correctly.


  • #3
    Twoandahalfmen
    Banned (with Prison Access) Posts: 769 ✭✭✭Twoandahalfmen


    Awful_Bliss wrote: »
    1. You can win prizes from €75 up to a million.
    2. Yeah, it's like a lotto. Number on your bond is 'pulled out of a hat' by a computer.
    3. Yes.
    4. Notify Prizebonds and they'll send you your bonds in the form of a cheque.
    5. I got my first ones when I was 13 or 14 if I remember correctly.

    Thanks. But one last Question

    do you have to pay tax on them and if so what is the minimum amount you have to win to have to pay tax


  • #4
    SweetCaliber
    Registered Users, Registered Users 2 Posts: 2,483 ✭✭✭SweetCaliber


    Twoandahalfmen wrote: »
    Thanks. But one last Question

    do you have to pay tax on them and if so what is the minimum amount you have to win to have to pay tax

    Nope. They're tax free.


  • #5
    Twoandahalfmen
    Banned (with Prison Access) Posts: 769 ✭✭✭Twoandahalfmen


    lee3155 wrote: »
    Nope. They're tax free.

    even if you win a million euro


  • #6
    SweetCaliber
    Registered Users, Registered Users 2 Posts: 2,483 ✭✭✭SweetCaliber


    Twoandahalfmen wrote: »
    even if you win a million euro

    Yep,
    12. Do I pay tax on my winnings?

    No. In Ireland all Prize Bond winnings are completely tax-free and are not liable to D.I.R.T. (Deposit Interest Retention Tax), Income Tax, or Capital Gains Tax.

    Taken from:

    http://www.prizebonds.ie/


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  • #7
    Twoandahalfmen
    Banned (with Prison Access) Posts: 769 ✭✭✭Twoandahalfmen


    lee3155 wrote: »
    Yep,



    Taken from:

    http://www.prizebonds.ie/


    sound man


  • #8
    pappyodaniel
    Registered Users, Registered Users 2 Posts: 5,803 ✭✭✭pappyodaniel


    Ok, whats the procedure in getting back the money you've invested in prize bonds? I put a large sum into this scheme about 4 years ago and have won the grand total of €0.00. I'm also planning a major purchase next year so I'll be needing all my available funds.

    Is there a form in An Post I need to fill out and post to Kerry?


  • #9
    SweetCaliber
    Registered Users, Registered Users 2 Posts: 2,483 ✭✭✭SweetCaliber


    pappyodaniel wrote: »
    Ok, whats the procedure in getting back the money you've invested in prize bonds? I put a large sum into this scheme about 4 years ago and have won the grand total of €0.00. I'm also planning a major purchase next year so I'll be needing all my available funds.

    Is there a form in An Post I need to fill out and post to Kerry?

    Here's the form:

    http://www.anpost.ie/NR/rdonlyres/2C0A779E-E9DB-43A9-8FFF-33D930868630/0/AnPostPrizeBondsRepaymentForm.pdf

    Print it, fill it and send it with your prize bonds to:

    NTMA State Savings,
    Prize Bonds Repayments Section,
    FEXCO,
    Killorglin, County Kerry

    Also note that your prize bonds must be 3 months old before your can get a repayment.


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