Around £97 million in Premium Bonds prize money is waiting to be claimed, prompting calls for holders to check their winnings. The figure covers roughly 2.5 million prizes and has grown rapidly since 2022.
London holds the most unclaimed prize money
According to latest figures from March 2025, London holds the most unclaimed prize money of any English region, with £14.5 million. Northern Ireland has the least in the UK, with £1.1 million.
A survey of 2,000 UK adults by Confused.com found that nearly a third (29%) of Premium Bond holders have never checked whether they have won an unclaimed prize.
How prizes become unclaimed
Instead of paying interest, Premium Bonds account holders are entered into a prize draw. NS&I, a government-backed savings bank, tries to notify every winner, but may fail to reach them if someone has moved or changed their contact details.
Once a prize has gone uncashed for 18 months, it is classed as unclaimed. However, the money is not lost, as there is no deadline to claim a Premium Bond prize. Unclaimed prizes carry over and build up year after year, with numbers up 21% since 2022, when there were around £80 million of unclaimed prizes.
Experts urge holders to check
Tara Evans, Personal Finance Expert at Confused.com, encouraged Brits to check their Premium Bonds using the free prize checker and app from NS&I, which shows any prizes owed no matter how far back they go.
“With finances stretched for so many households, it's worth remembering that forgotten money is far more common than people realise. It’s easy to assume this money is gone for good, but it almost never is,” she said.
She also advised account holders to update their contact details with NS&I, so they can be reached if they move house or change their email or phone number.
“Whether it’s an old savings account or a Premium Bond prize you never knew you had won, it’s probably still waiting to be claimed, and it can add up to a surprising amount. Forgotten money does not expire and it belongs to you, so tracking down an old account or an unclaimed prize could give your finances a real lift for very little effort,” she said.
