This thread has definitely got me interested in putting a chunk of my savings into Premium Bonds.
One thing I’m unsure of though, and I hope someone can clarify - how accessible is the money once you’ve put it in?
For example, if I put 50k this month could I then just take the 50k back out in a few months time if I decide to use it for something else? Are there any penalties/restrictions?
You have immediate penalty free access to the funds, Tom.
To be clear they say within 3 working days so not quite as immediate as a bank/building society deposit. Can be important to remember
This thread has definitely got me interested in putting a chunk of my savings into Premium Bonds.
One thing I’m unsure of though, and I hope someone can clarify - how accessible is the money once you’ve put it in?
For example, if I put 50k this month could I then just take the 50k back out in a few months time if I decide to use it for something else? Are there any penalties/restrictions?
You have immediate penalty free access to the funds, Tom.
To be clear they say within 3 working days so not quite as immediate as a bank/building society deposit. Can be important to remember
Thanks - I’d saved up quite a lot to buy a house, but due to the difficulties in selling flats post Grenfell I’ve found myself stuck for a few years but saving more and more. Only recently started to make serious considerations as to how to make it work a bit more for me, but all the while still needing quick access to it in case the overall property problem is fixed. So a few days shouldn’t be a major issue that I can see.
anyone else take a punt on Zynex shares yesterday? Might be daft but the fundamentals are in a much stronger position than the last time they were at this price.
anyone else take a punt on Zynex shares yesterday? Might be daft but the fundamentals are in a much stronger position than the last time they were at this price.
put on the shares thread, definitely worth a short term punt once there's a bounce. Big 30% gap to be filled. Great risk:reward imo
This thread has definitely got me interested in putting a chunk of my savings into Premium Bonds.
One thing I’m unsure of though, and I hope someone can clarify - how accessible is the money once you’ve put it in?
For example, if I put 50k this month could I then just take the 50k back out in a few months time if I decide to use it for something else? Are there any penalties/restrictions?
You have immediate penalty free access to the funds, Tom.
To be clear they say within 3 working days so not quite as immediate as a bank/building society deposit. Can be important to remember
Thanks - I’d saved up quite a lot to buy a house, but due to the difficulties in selling flats post Grenfell I’ve found myself stuck for a few years but saving more and more. Only recently started to make serious considerations as to how to make it work a bit more for me, but all the while still needing quick access to it in case the overall property problem is fixed. So a few days shouldn’t be a major issue that I can see.
If you go with NS&I, be very careful to set up the app correctly with your nominated bank details etc added. I personally would then test it out by selling a £1 bond to check the money arrives back into your account. I mention this as getting through to them on the phone is a nightmare with v long hold times. The people on the end of the phone (they outsource back office) don’t always get things right - talking from experience!
This thread has definitely got me interested in putting a chunk of my savings into Premium Bonds.
One thing I’m unsure of though, and I hope someone can clarify - how accessible is the money once you’ve put it in?
For example, if I put 50k this month could I then just take the 50k back out in a few months time if I decide to use it for something else? Are there any penalties/restrictions?
You have immediate penalty free access to the funds, Tom.
To be clear they say within 3 working days so not quite as immediate as a bank/building society deposit. Can be important to remember
Thanks - I’d saved up quite a lot to buy a house, but due to the difficulties in selling flats post Grenfell I’ve found myself stuck for a few years but saving more and more. Only recently started to make serious considerations as to how to make it work a bit more for me, but all the while still needing quick access to it in case the overall property problem is fixed. So a few days shouldn’t be a major issue that I can see.
If you go with NS&I, be very careful to set up the app correctly with your nominated bank details etc added. I personally would then test it out by selling a £1 bond to check the money arrives back into your account. I mention this as getting through to them on the phone is a nightmare with v long hold times. The people on the end of the phone (they outsource back office) don’t always get things right - talking from experience!
I applied to open up the account last night with the intention of just doing £25 as the first purchase to see how it works - and then putting the rest in at the end of the month.
The NS&I digital tech is what you might expect from a digital granny. They recently proudly announced two-step login, because, well, this is the thing now.
Except that in their case you have to manually enter your NS&I number - different to the number you use to quick-check your Premium Bonds- each time, and then the second step is an automated phone call which reads out your one time code for the second step. Which is cumbersome enough if it works. But last night while trying to check interest on my income bond, call came there none. Three times. So I was effectively locked out. Fortunately I didnt need the money, but somebody might. No sign of a general outage note on their Twitter feed, where I’ve expressed my displeasure.
The NS&I digital tech is what you might expect from a digital granny. They recently proudly announced two-step login, because, well, this is the thing now.
Except that in their case you have to manually enter your NS&I number - different to the number you use to quick-check your Premium Bonds- each time, and then the second step is an automated phone call which reads out your one time code for the second step. Which is cumbersome enough if it works. But last night while trying to check interest on my income bond, call came there none. Three times. So I was effectively locked out. Fortunately I didnt need the money, but somebody might. No sign of a general outage note on their Twitter feed, where I’ve expressed my displeasure.
Amateurs.
I think if you use your mobile as the number on account, they'll send you a text.
When 2FA came in I set up a pin, trusted the device I was on and not had to worry about it since?
The NS&I digital tech is what you might expect from a digital granny. They recently proudly announced two-step login, because, well, this is the thing now.
Except that in their case you have to manually enter your NS&I number - different to the number you use to quick-check your Premium Bonds- each time, and then the second step is an automated phone call which reads out your one time code for the second step. Which is cumbersome enough if it works. But last night while trying to check interest on my income bond, call came there none. Three times. So I was effectively locked out. Fortunately I didnt need the money, but somebody might. No sign of a general outage note on their Twitter feed, where I’ve expressed my displeasure.
Amateurs.
I think if you use your mobile as the number on account, they'll send you a text.
When 2FA came in I set up a pin, trusted the device I was on and not had to worry about it since?
Nope they have always called me. If I had seen an option for text I’d have chosen that. I only see an option to choose a different number.
I was one of the many who bought saga shares when they were floated at 1.85,they are now worth about 10p and I and thousands of other innocents have done their hard earned dough.Fair enough you take your chance,but what is galling is the amount of 100k plus people they employ and the performance bonuses they get for basically presiding over a declining company while shareholders take the hit.Anyone else in the same boat.
Are you sure about those prices? I have them showing at a price of about £1.14 now having been somewhere north of £30 back in 2016/17. Nonetheless, I take your point, and I've had several similar experiences with poor investments. Youre bound to get burned occasionally when buying individual shares, best use it as a learning experience.
The NS&I digital tech is what you might expect from a digital granny. They recently proudly announced two-step login, because, well, this is the thing now.
Except that in their case you have to manually enter your NS&I number - different to the number you use to quick-check your Premium Bonds- each time, and then the second step is an automated phone call which reads out your one time code for the second step. Which is cumbersome enough if it works. But last night while trying to check interest on my income bond, call came there none. Three times. So I was effectively locked out. Fortunately I didnt need the money, but somebody might. No sign of a general outage note on their Twitter feed, where I’ve expressed my displeasure.
Amateurs.
I think if you use your mobile as the number on account, they'll send you a text.
When 2FA came in I set up a pin, trusted the device I was on and not had to worry about it since?
Nope they have always called me. If I had seen an option for text I’d have chosen that. I only see an option to choose a different number.
If I brought say £20000.00 of premium bonds should I buy them in one go and have consecutive numbers or is it worth spreading it out does it make any difference
If I brought say £20000.00 of premium bonds should I buy them in one go and have consecutive numbers or is it worth spreading it out does it make any difference
Shouldn’t make a difference in theory but you have for some reason a better chance of winning if you bought a large chunk of bonds.
Credit where it's due to a bank, even if it isn't even strictly an S&I issue. The HSBC Global Money account, an add-on for existing current account holders which I've already mentioned is bloody excellent. It allows you to transfer between currencies at near mid-market price, slightly worse than Wise, but without any additional fee, which Wise does charge, and which they recently increased. What's more it allows you a lot of different currencies, I think 14 at any one time. Which is perfect for my trip next week which takes me briefly into Scandi-land, with their pesky insistence on different currencies even though they are economically almost joined at the hip. I will just need to load up enough Danish kroners for refreshments, and enough Swedish kroners for my hotel and night out, and will pay with the debit card that comes with it. Anything unused, I'll just transfer back into Czech crowns or GBP or euros as needed. It's perfect. It is what I have long dreamed of.
Now, if they really want to close Revolut down (before the authorities do) they should extend the account by offering interest bearing deposits on some of those currencies, especially the euro. Revolut does apparently, but you have to pay a subscrption fee for that account. More importantly no one should let Revolut hold on to any of their cash longer than for an instant FX transfer. There were two more highly ominous FT articles in the last two weeks, here and here.
I realise of course that not everyone will need such an account, although maybe more than some think. I think if I was still a UK resident and expecting more than one trip a year abroad, I'd want this. Anyway, hats off to HSBC. Terrific innovation
Credit due to Nationwide for passing on £100 from increased profits to its customers/members. They have also been giving a small percentage refund on supermarket shopping to those using a nationwide debit card in recent months.
Credit due to Nationwide for passing on £100 from increased profits to its customers/members. They have also been giving a small percentage refund on supermarket shopping to those using a nationwide debit card in recent months.
The whole family banks with Nationwide and has done for years so we're all cheery today. I expect my bit will go to sustain the British brewing industry.
Doesn't look like bottom fishing is going to work. I think I'll go down the pub.
What do you make of the market? I've largely stayed on the sidelines in the last few months, instead wrapping myself in the comfort blanket of high interest savings accounts, and seeking to reduce my weighting of the notorious Vanguard LS 20.
I do however feel slightly vindicated by my faith in European equities, a most unfashionable stance in the UK. I've bought a couple of chunks of Volvo Trucks, on the grounds that trucks remain very much with us, no matter how much we hate them on motorways, and Volvo are at the forefront of hydrogen power for them. Martin Sandbu in the FT today has a good insight into why it wasn't so daft to believe in the resilience of the European economy after war broke out.
Doesn't look like bottom fishing is going to work. I think I'll go down the pub.
What do you make of the market? I've largely stayed on the sidelines in the last few months, instead wrapping myself in the comfort blanket of high interest savings accounts, and seeking to reduce my weighting of the notorious Vanguard LS 20.
I do however feel slightly vindicated by my faith in European equities, a most unfashionable stance in the UK. I've bought a couple of chunks of Volvo Trucks, on the grounds that trucks remain very much with us, no matter how much we hate them on motorways, and Volvo are at the forefront of hydrogen power for them. Martin Sandbu in the FT today has a good insight into why it wasn't so daft to believe in the resilience of the European economy after war broke out.
I think you've been very wise and probably haven't missed much. I reckon there's still some volatility to come and one more leg of the bear market is not out of the question. It worries me that the US market has priced in rate reductions way too early and there will be a correction at some point.
But I'm almost entirely fully invested again, having gone to about 20% cash a couple of months back (earning 4.58% in my new Interactive Brokers account). Half of that is hedging - stocks like Begbies (administration) and Mano (litigation), long volatility and short NASDAQ - latter two suffering a bit right now but is really a bet on the debt ceiling issue going on longer than people would like.
But otherwise I'm just being very choosey about what I buy - low PE, decent cash conversion and return on capital, low debts and trying to be patient! Rolls Royce, Spoons, LSEG, Money Supermarket and Trainline are exceptions to some of those rules rule but I think have secular tailwinds - I think the worst is behind them now and they've done really well the last few months. I reckon Paypoint will be the next to join that list - just can't understand why it's so undervalued.
I reduced my exposure to US tech and that has saved me some money, even with the more recent surge, but will get back in to stalwarts like Microsoft once I'm convinced we're not going to get another leg down. I'm still doing very well going in and out of AMAT - I reckon they're the best US-based chip company and will benefit from re-shoring.
Still mostly avoiding China exposure but even the rest of South East Asia in case Taiwan kicks off.
Considering Brazil - they were first into rate rises, so should be first out. And the yields are phenomenal.
As for Europe, I bought a fairly chunky position in Porsche (PAH3D) shares which look ludicrously cheap at a PE of 3 (it's not just Porsche, it's also a fairly big chunk of VW). It also has a well-covered yield of 6% that at least pays for servicing my car! It's a bit risky - the German market will follow the US market if it goes down, cash conversion is heading in the wrong direction and they're very exposed to China.
Doesn't look like bottom fishing is going to work. I think I'll go down the pub.
What do you make of the market? I've largely stayed on the sidelines in the last few months, instead wrapping myself in the comfort blanket of high interest savings accounts, and seeking to reduce my weighting of the notorious Vanguard LS 20.
I do however feel slightly vindicated by my faith in European equities, a most unfashionable stance in the UK. I've bought a couple of chunks of Volvo Trucks, on the grounds that trucks remain very much with us, no matter how much we hate them on motorways, and Volvo are at the forefront of hydrogen power for them. Martin Sandbu in the FT today has a good insight into why it wasn't so daft to believe in the resilience of the European economy after war broke out.
I think you've been very wise and probably haven't missed much. I reckon there's still some volatility to come and one more leg of the bear market is not out of the question. It worries me that the US market has priced in rate reductions way too early and there will be a correction at some point.
But I'm almost entirely fully invested again, having gone to about 20% cash a couple of months back (earning 4.58% in my new Interactive Brokers account). Half of that is hedging - stocks like Begbies (administration) and Mano (litigation), long volatility and short NASDAQ - latter two suffering a bit right now but is really a bet on the debt ceiling issue going on longer than people would like.
But otherwise I'm just being very choosey about what I buy - low PE, decent cash conversion and return on capital, low debts and trying to be patient! Rolls Royce, Spoons, LSEG, Money Supermarket and Trainline are exceptions to some of those rules rule but I think have secular tailwinds - I think the worst is behind them now and they've done really well the last few months. I reckon Paypoint will be the next to join that list - just can't understand why it's so undervalued.
I reduced my exposure to US tech and that has saved me some money, even with the more recent surge, but will get back in to stalwarts like Microsoft once I'm convinced we're not going to get another leg down. I'm still doing very well going in and out of AMAT - I reckon they're the best US-based chip company and will benefit from re-shoring.
Still mostly avoiding China exposure but even the rest of South East Asia in case Taiwan kicks off.
Considering Brazil - they were first into rate rises, so should be first out. And the yields are phenomenal.
As for Europe, I bought a fairly chunky position in Porsche (PAH3D) shares which look ludicrously cheap at a PE of 3 (it's not just Porsche, it's also a fairly big chunk of VW). It also has a well-covered yield of 6% that at least pays for servicing my car! It's a bit risky - the German market will follow the US market if it goes down, cash conversion is heading in the wrong direction and they're very exposed to China.
Why are you still mostly avoiding China and what would most likely change your avoidance?
@WishIdStayedinthePub Trainline, eh? Didn’t know or even suspect they are publicly quoted. That would fit my simplistic “money where my mouth is” approach…
Comments
Thanks - I’d saved up quite a lot to buy a house, but due to the difficulties in selling flats post Grenfell I’ve found myself stuck for a few years but saving more and more. Only recently started to make serious considerations as to how to make it work a bit more for me, but all the while still needing quick access to it in case the overall property problem is fixed. So a few days shouldn’t be a major issue that I can see.
doesn't get much love though. Taken an interest in technical analysis the last year or so, so would like to see it get more posts.
When 2FA came in I set up a pin, trusted the device I was on and not had to worry about it since?
Now, if they really want to close Revolut down (before the authorities do) they should extend the account by offering interest bearing deposits on some of those currencies, especially the euro. Revolut does apparently, but you have to pay a subscrption fee for that account. More importantly no one should let Revolut hold on to any of their cash longer than for an instant FX transfer. There were two more highly ominous FT articles in the last two weeks, here and here.
I realise of course that not everyone will need such an account, although maybe more than some think. I think if I was still a UK resident and expecting more than one trip a year abroad, I'd want this. Anyway, hats off to HSBC. Terrific innovation
I do however feel slightly vindicated by my faith in European equities, a most unfashionable stance in the UK. I've bought a couple of chunks of Volvo Trucks, on the grounds that trucks remain very much with us, no matter how much we hate them on motorways, and Volvo are at the forefront of hydrogen power for them. Martin Sandbu in the FT today has a good insight into why it wasn't so daft to believe in the resilience of the European economy after war broke out.
Second is FTSE Developed Europe UCITS ETF (VEUR), up 17.34%
Closest after that is a Japan fund up nearly 15% followed by a FTSE100 fund up 12.43%.
But I'm almost entirely fully invested again, having gone to about 20% cash a couple of months back (earning 4.58% in my new Interactive Brokers account). Half of that is hedging - stocks like Begbies (administration) and Mano (litigation), long volatility and short NASDAQ - latter two suffering a bit right now but is really a bet on the debt ceiling issue going on longer than people would like.
But otherwise I'm just being very choosey about what I buy - low PE, decent cash conversion and return on capital, low debts and trying to be patient! Rolls Royce, Spoons, LSEG, Money Supermarket and Trainline are exceptions to some of those rules rule but I think have secular tailwinds - I think the worst is behind them now and they've done really well the last few months. I reckon Paypoint will be the next to join that list - just can't understand why it's so undervalued.
I reduced my exposure to US tech and that has saved me some money, even with the more recent surge, but will get back in to stalwarts like Microsoft once I'm convinced we're not going to get another leg down. I'm still doing very well going in and out of AMAT - I reckon they're the best US-based chip company and will benefit from re-shoring.
Still mostly avoiding China exposure but even the rest of South East Asia in case Taiwan kicks off.
Considering Brazil - they were first into rate rises, so should be first out. And the yields are phenomenal.
As for Europe, I bought a fairly chunky position in Porsche (PAH3D) shares which look ludicrously cheap at a PE of 3 (it's not just Porsche, it's also a fairly big chunk of VW). It also has a well-covered yield of 6% that at least pays for servicing my car! It's a bit risky - the German market will follow the US market if it goes down, cash conversion is heading in the wrong direction and they're very exposed to China.