€25k invested in prize bonds

Sligo Quay · 19-10-2020 4:21pm

Hibernicis wrote: »

Based on their behavior at present it looks like the last thing the banks want is an inflow of funds and so there is unlikely to be any pressure from that quarter.
.

Not to derail the Prize Bond thread, but just a quick question, why do the banks not want our money anymore, I thought money was their business, paid small interest on deposits and charge higher interest on loans.
I don't want a full blown discussion on banks, just a quick reply on why banks don't want funds.

blindside88 · 19-10-2020 4:29pm

Sligo Quay wrote: »

Not to derail the Prize Bond thread, but just a quick question, why do the banks not want our money anymore, I thought money was their business, paid small interest on deposits and charge higher interest on loans.
I don't want a full blown discussion on banks, just a quick reply on why banks don't want funds.

A very quick answer on this so as not to drag the thread off topic. The banks can only hold a certain amount on their own books, anything in excess of this needs to be put on deposit with larger banks (in Germany etc) any funds that the banks put away in this manner on terms of less than 2 years currently attract negative interest rates. Therefore the banks are actually losing money on this.

Hibernicis · 19-10-2020 10:42pm

Sligo Quay wrote: »

Not to derail the Prize Bond thread, but just a quick question, why do the banks not want our money anymore, I thought money was their business, paid small interest on deposits and charge higher interest on loans.
I don't want a full blown discussion on banks, just a quick reply on why banks don't want funds.

Your assumption "I thought money was their business, paid small interest on deposits and charge higher interest on loans" is correct, and works so long as there is a demand for loans/borrowing. At present, the demand for loans from viable borrowers is weak therefore the banks/credit unions etc are ending up with large amounts of deposits that they can't find a home for and as blindside88 said this costs them money to put on deposit. Many Credit Unions have drastically reduced the maximum that an individual can hold on deposit (my local CU dropped it's limit from 45k to 20k in the last 12 months) to stem the inflow. The banks are in the process of capping large deposits and/or introducing negative rates to stop the inflows. The simply have more money on deposit than they know what to do with and they don't want any more. Hope this is clear.

The relevance of this for Prize Bonds is that there is no reason for the Irish Government to pay 0.5% interest at present, it could borrow at a fraction of this, and potentially interest free.

Apologies if I've derailed the thread. It wasn't intentional.

Hibernicis · 23-10-2020 1:00pm

Winnings on 23rd October €50
Last win: 25th September €50
Weeks since last win: 4

2017 (Jul-Dec) - €100k – 7x€50 = €350
2018 (Jan-Dec) - €200k – 12x€50 = €600
2019 (Jan-Dec) - €250k – 20x€50 = €1,000
2020 (Jan-Oct) - €252k - 21x€50 = €1,050

Andrew Flexing · 23-10-2020 1:23pm

50 squid today.
hope everyone else here has similar luck!

Jan: XXXXX
Feb: €XXX
Mar: XXX€
Apr: €XX€
May:€€XX
Jun: XXXX
Jul: €XXX
Aug: XXXXX
Sep: €XXX
Oct: XXX€

maebee · 23-10-2020 1:28pm

50 euro for us again today ðŸ˜

ANF Bond, bought January 2019

Andrew Flexing · 23-10-2020 1:33pm

is the 'glitch' back?

tuisginideach · 23-10-2020 2:06pm

The glitch certainly isn’t affecting me - second half of the year has been a disaster - and the first half wasn’t much better!

pbwinner · 23-10-2020 2:30pm

Winnings on 23rd October 2020: €0
Last win 25th September 2020: €50
Total winnings on €25k from Feb 2011 to date: €3050
2011: €75 x 4 €300
2012: €75 x 6 €450
2013: €50 x 12 €600
2014: €50 x 9 €450
2015: €50 x 5 €250
2016: €50 x 5 €250
2017: €50 x 4 €200
2018: €50 x 2 €100
2019: €50 x 6 €300
2020: €50 x 3 €150

PB2018 · 23-10-2020 3:03pm

No glitch for me either!

Wins on 23rd October 2020: €0
Last win - 25th September 2020: €50
Weeks since last win: 4
€134k invested in prize bonds since July 2017
Win ratio: 21 wins in 173 weeks (12%)
2017 (Jul-Dec): 5 x €50 = €250
2018 (Jan-Dec): 4 x €50 = €200
2019 (Jan-Dec): 5 x €50 = €250
2020 (Jan-date): 7 x €50 = €350

pbtracker · 23-10-2020 3:09pm

No glitch for me either :-( 8 weeks now without a win, maybe they are saving it for Christmas!

Winnings on 23rd October 2020: €0
Last win : €50 Aug 28th
Investment :
Up to Aug 2020 : €12K
Aug 2020 : €72K
Sept 2020 : €77K
Total winnings to date: €150

RINO87 · 23-10-2020 3:35pm

Hey, so I've been digging around the thread a bit but cant really find an answer...

I've ~25K saved up as a house deposit. Partner may have to go on PUP so we figure the banks will tell us to take a hike if that happens. Is it possible to lump the 25K into prize bonds for the time being and access it again in one go at short enough notice?

John arse · 23-10-2020 4:44pm

RINO87 wrote: »

Hey, so I've been digging around the thread a bit but cant really find an answer...

I've ~25K saved up as a house deposit. Partner may have to go on PUP so we figure the banks will tell us to take a hike if that happens. Is it possible to lump the 25K into prize bonds for the time being and access it again in one go at short enough notice?

yeah after 3 months

adox · 23-10-2020 5:29pm

€50 for me today too. Woohoo.

Second win of the year.

dxhound2005 · 23-10-2020 8:37pm

This is what real glitches look like.

Prize Value Winning Prize Bond Location

€50 YR398886 Tipperary
€50 YR398894 Tipperary
€50 AAA661494 Laois
€50 AAA661531 Laois

Nothing for me today.

Cork Lass · 23-10-2020 9:26pm

Nothing for us this week

Cal04 · 23-10-2020 9:31pm

Haven't bought one in years but thinking about it now. Can you buy them online? What happens if you lost the bond, have you any proof of ownership? Thanks in advance

carrickbawn · 23-10-2020 9:36pm

tuisginideach wrote: »

The glitch certainly isn’t affecting me - second half of the year has been a disaster - and the first half wasn’t much better!

I know how you feel. But hang in there. I could not believe it when I checked today.
The glitch is real.
€ 50 euros again today.
Nothing for months. 3 wins in October.
Long may it last.

dxhound2005 · 23-10-2020 9:44pm

Cal04 wrote: »

Haven't bought one in years but thinking about it now. Can you buy them online? What happens if you lost the bond, have you any proof of ownership? Thanks in advance

All the information is on the website. If you buy new ones, register them on the site and whenever you log in it will tell you if you have any new winners. A lost bond will only be an issue whenever you want to cash it in. This is what it says on the Repayment application form.

2. LOST PRIZE BOND
If the original Prize Bond Certificate(s) cannot be located please
attach a short note confirming same, please also provide any
variations in the name(s) and or address(es) that may have been
used at the time the Bonds in question were purchased. Once
we receive this information we will then contact you with our
additional requirements.

tuisginideach · 23-10-2020 9:48pm

Delighted for you carrickbawn.

maebee · 24-10-2020 12:17am

We invested €50,000 in prize bonds in January 2019 and have won €450 since then. I'm fairly sure that our €50,000 would have earned about €50 in a bank savings account. Happy Days. Hopefully the big one is coming

.

Jim2007 · 24-10-2020 1:05am

maebee wrote: »

We invested €50,000 in prize bonds in January 2019 and have won €450 since then. I'm fairly sure that our €50,000 would have earned about €50 in a bank savings account. Happy Days. Hopefully the big one is coming .

As negative interest rates are introduced, finding a safe place to place cash without having to pay for it will be a bonus in itself.

dxhound2005 · 24-10-2020 10:39am

Prize draws and low interest rates have been a feature of some bank and building society accounts in the UK for a few years. Reminiscent of the start of Premium Bonds and Prize Bonds with not many prizes.

https://www.yourmoney.com/saving-banking/the-cash-savings-prize-draw-alternatives-to-nsis-premium-bonds/

Cute Hoor · 25-10-2020 9:19am

I'd guess that Credit Unions introducing maximum deposit amounts (most Credit Unions probably have a limit at this stage) is having a significant impact on the inflow of funds into Prize Bonds

LuasSimon · 25-10-2020 9:34am

It’s a real first world problem to have worrying where your wealth can earn more .
A growing amount of people have nothing due to many jobs been minimum wage or close to it . Poor terms and conditions etc but the rich are getting richer . Anyone with over 500K in assets outside of their own house should be paying a wealth tax as these funds will be needed to fund food banks and accommodation for the working poor similar to the UK .

LawBoy2018 · 25-10-2020 9:46am

LuasSimon wrote: »

It’s a real first world problem to have worrying where your wealth can earn more .
A growing amount of people have nothing due to many jobs been minimum wage or close to it . Poor terms and conditions etc but the rich are getting richer . Anyone with over 500K in assets outside of their own house should be paying a wealth tax as these funds will be needed to fund food banks and accommodation for the working poor similar to the UK .

Let people save their money in peace.. lol.

hawaii501 · 25-10-2020 9:51am

How does one get an SSCN number to purchase prize bonds online or can I just buy these at the post office?
I want to win the million euro draw

Rodney Bathgate · 25-10-2020 9:54am

LuasSimon wrote: »

It’s a real first world problem to have worrying where your wealth can earn more .
A growing amount of people have nothing due to many jobs been minimum wage or close to it . Poor terms and conditions etc but the rich are getting richer . Anyone with over 500K in assets outside of their own house should be paying a wealth tax as these funds will be needed to fund food banks and accommodation for the working poor similar to the UK .

Jog on, pal.

Agent Smyth · 25-10-2020 10:33am

LuasSimon wrote: »

Anyone with over 500K in assets outside of their own house should be paying a wealth tax as these funds will be needed to fund food banks and accommodation for the working poor similar to the UK .

I can't help but wonder if you found yourself in this position, would you agree to a tax on your so called excessive wealth and how much tax do you think would be justified to help out the "working poor"

tuisginideach · 25-10-2020 10:40am

Family member here still trying to get an SSCN - all documentation has been submitted in June as requested by State Savings, online query submitted August (seemimngly it wasn't/it isn't working) , phone call to helpline made September, and another form sent out to us to be filled in and returned to Fexco, did that, letter Friday saying they need all the documentation ... again

:(:mad::mad:

Bubbaclaus · 25-10-2020 11:46am

LuasSimon wrote: »

It’s a real first world problem to have worrying where your wealth can earn more .
A growing amount of people have nothing due to many jobs been minimum wage or close to it . Poor terms and conditions etc but the rich are getting richer . Anyone with over 500K in assets outside of their own house should be paying a wealth tax as these funds will be needed to fund food banks and accommodation for the working poor similar to the UK .

Just 5% of the working population are on minimum wage and the majority of that 5% are under the age of 24 and likely doing part time work to support their university studies to get a well paid job. So the apparent epidemic you seem to think exists in Ireland isn't backed up by facts.

Anyone that is in a minimum wage job for a lengthy period of time mistook a starter pack job for a career.

Hibernicis · 25-10-2020 12:31pm

LuasSimon wrote: »

It’s a real first world problem to have worrying where your wealth can earn more .
A growing amount of people have nothing due to many jobs been minimum wage or close to it . Poor terms and conditions etc but the rich are getting richer . Anyone with over 500K in assets outside of their own house should be paying a wealth tax as these funds will be needed to fund food banks and accommodation for the working poor similar to the UK .

Wealth tax is off topic for this thread. Suggest you take it elsewhere.

John arse · 25-10-2020 1:48pm

LuasSimon wrote: »

It’s a real first world problem to have worrying where your wealth can earn more .
A growing amount of people have nothing due to many jobs been minimum wage or close to it . Poor terms and conditions etc but the rich are getting richer . Anyone with over 500K in assets outside of their own house should be paying a wealth tax as these funds will be needed to fund food banks and accommodation for the working poor similar to the UK .

did you ever hear of working hard?

Saudades · 25-10-2020 6:10pm

LuasSimon wrote: »

It’s a real first world problem to have worrying where your wealth can earn more .
A growing amount of people have nothing due to many jobs been minimum wage or close to it . Poor terms and conditions etc but the rich are getting richer . Anyone with over 500K in assets outside of their own house should be paying a wealth tax as these funds will be needed to fund food banks and accommodation for the working poor similar to the UK .

I see your points and kinda agree, but to be fair I don't think Prize Bonds are exactly making the rich get richer. There was someone in the last page delighted that their €50,000 in prize bonds returned €450 since January 2019. Fair play to them for keeping their cash in a safe haven instead of stock market, but that's a return of around 68 cents per day.

Stock market investment gains are taxed at 33% or 41% depending on the investment vehicle, so that may sort of satisfy your wealth tax.

Bubbaclaus wrote: »

Just 5% of the working population are on minimum wage and the majority of that 5% are under the age of 24 and likely doing part time work to support their university studies to get a well paid job.

To be fair he did specifically say minimum wage or close to it.
Your statistic may be accurate but if an employee pays 5 cents per hour more than minimum wage, then they don't fall into that 5%.
Nothing at all to do with Prize Bonds though of course, but there are certainly a lot more than 5% of the working population struggling to make ends meet, not only under 24's.

John arse wrote: »

did you ever hear of working hard?

Kind of an irrelevant point as salary isn't in correlation to hard work. How do you even measure hard work? The person cleaning the office toilets likely works just as hard as the office manager who earlier took a dump in that same toilet.

Taylor365 · 26-10-2020 9:35pm

LuasSimon wrote: »

Anyone with over 500K in assets outside of their own house should be paying a wealth tax

:pac::pac::pac:

Lets make it even harder for anyone but the rich to own property!

Always waving the pitchforks but never really thinking of how hard it is to conceive policy that balance the unfortunate in life with the privileged.

There is a reason havens exist.

agoodpunt · 29-10-2020 10:01am

Taylor365 wrote: »

:pac::pac::pac:

There is a reason havens exist.

might start a tread on havens cv19 has impacted with limited global travel and closed borders.
Was invested for 1 year PB return was .05% all €50 each time

Andrew Flexing · 30-10-2020 1:42pm

50 squid today.
Two weeks in a row!

Jan: XXXXX
Feb: €XXX
Mar: XXX€
Apr: €XX€
May:€€XX
Jun: XXXX
Jul: €XXX
Aug: XXXXX
Sep: €XXX
Oct: XXX€€

adox · 30-10-2020 1:51pm

Nothing for me this week.

Cal04 · 30-10-2020 1:51pm

Well done. I'd better go to post office tomorrow and set it up

tuisginideach · 30-10-2020 1:58pm

At last they found one of my Bonds again - €50 today.

pbtracker · 30-10-2020 2:00pm

Nothing for me again this week :-(

Winnings on 30th October 2020: €0
Last win : €50 Aug 28th
Investment :
Up to Aug 2020 : €12K
Aug 2020 : €72K
Sept 2020 : €77K
Total winnings to date: €150

anewme · 30-10-2020 2:19pm

Just spotted this thread again, so decided to log in. €50 today.

PB2018 · 30-10-2020 3:44pm

Wins on 30th October 2020: €0
Last win - 25th September 2020: €50
Weeks since last win: 5
€134k invested in prize bonds since July 2017
Win ratio: 21 wins in 174 weeks (12%)
2017 (Jul-Dec): 5 x €50 = €250
2018 (Jan-Dec): 4 x €50 = €200
2019 (Jan-Dec): 5 x €50 = €250
2020 (Jan-date): 7 x €50 = €350

Agent Smyth · 30-10-2020 4:32pm

A double win for us today, €50 form an old batch and a €50 from the new big batch. Now if only there was somewhere open to spend it :rolleyes:

John arse · 30-10-2020 5:46pm

Agent Smyth wrote: »

A double win for us today, €50 form an old batch and a €50 from the new big batch. Now if only there was somewhere open to spend it :rolleyes:

is it essential that you spend it?

Cork Lass · 30-10-2020 5:49pm

€50 for us this week - looks like the Boardsies have had a good week :pac:

Cal04 · 30-10-2020 5:54pm

Do you have to log in somewhere to see if you won?
I want to start saving using pb. Can I literally do this online once I'm set up

Agent Smyth · 30-10-2020 5:56pm

John arse wrote: »

is it essential that you spend it?

Not essential, more of a tongue in cheek comment. But at the same time what's the point in winning or making money if your not going to spend it

John arse · 30-10-2020 6:25pm

Agent Smyth wrote: »

Not essential, more of a tongue in cheek comment. But at the same time what's the point in winning or making money if your not going to spend it

i knew that,only joking my friend;)

maebee · 30-10-2020 6:39pm

Cal04 wrote: »

Do you have to log in somewhere to see if you won?
I want to start saving using pb. Can I literally do this online once I'm set up

Yes you can log in here, once you've bought your prize bonds.

https://www.statesavings.ie/prize-bonds/tracker/login?returnurl=%2fprize-bonds%2ftracker#findwinners

€25k invested in prize bonds

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