revtothelimit - motorbike forum

Nowt again. I expected as much as I've reduced my holding to sub £7k

Jody wrote: Thu Mar 06, 2025 8:18 am Nowt again. I expected as much as I've reduced my holding to sub £7k

Doesn't seem a lot of incentive to have these unless you're holding massive piles of cash. I don't really understand them in truth.

Is the 'winnings' on top of inflation ? Or does the winnings equate to inflation (and maybe a bit more) ? So if you spend the winnings your actual stake decreases over time ?

weeksy wrote: Thu Mar 06, 2025 8:38 am

Jody wrote: Thu Mar 06, 2025 8:18 am Nowt again. I expected as much as I've reduced my holding to sub £7k

Doesn't seem a lot of incentive to have these unless you're holding massive piles of cash. I don't really understand them in truth.

Is the 'winnings' on top of inflation ? Or does the winnings equate to inflation (and maybe a bit more) ? So if you spend the winnings your actual stake decreases over time ?

Main 2 things are a) tax free b) chance of winning a biggish amount with no risk/loss of capital.

I wouldn't put everything in there but along with ISAs etc they're just part of the whole savings plan.

Oh, and the 'winnings' pot goes up and down with interest rate and yes, it's not inflation proofed without some reinvestment....but then, what is? (Only things that are guaranteed to rise faster than inflation. If you find such a thing let me know.

Looks like zero for me this month.

Correction: I've won something. As it's now 7th Mar I assume it's £25 if it's true they inform the big wins first etc.

Update: yup £25. I reckon, although I don't keep close track, I'm currently making about 3-4% pa (tax free ).

Humph...my £22 worth have won me nothing since around 1959..£250, but i had to share that with my 2 brothers.....

weeksy wrote: Thu Mar 06, 2025 8:38 am

Jody wrote: Thu Mar 06, 2025 8:18 am Nowt again. I expected as much as I've reduced my holding to sub £7k

Doesn't seem a lot of incentive to have these unless you're holding massive piles of cash. I don't really understand them in truth.

Is the 'winnings' on top of inflation ? Or does the winnings equate to inflation (and maybe a bit more) ? So if you spend the winnings your actual stake decreases over time ?

In my previous experience, you need £10k in there before you can expect regular ish wins.

Though these last 6 months, that hasn't been the case for me!

I do actually enjoy the anticipation, I look forward to checking the app on draw day. I'm never going to get a 'surprise' windfall on any other investment !?

I've not won anything for years, but I've only had £25 in there!!

So, I've just upped it to £125 today! I'm trying to save a reasonable amount each month so might as well put some in Premium Bonds I guess!!! Last of the big spenders tho - but will try and remember to put a bit in each month and see what happens

I’ve just cashed most of mine in, not winning anything much so have decided it’s much better invested elsewhere

Perhaps a Fireblade isn’t a good investment, but will bring me much more joy

Zilch, debating about taking some out and putting it in a shares ISA (EU defence companies).

MingtheMerciless wrote: Tue Mar 11, 2025 8:52 am Zilch, debating about taking some out and putting it in a shares ISA (EU defence companies).

Probably missed that boat

We pulled out of PB's and bunged the cash in a decent (by todays standards) fixed rate savings account that needs to be reviewed after 12 months. A guaranteed interest of about £2500 after the year. That works out at about £50 a week in interest. By the time I die I might be able to afford a decent bike.

Dixiethedog wrote: Tue Mar 11, 2025 10:29 am We pulled out of PB's and bunged the cash in a decent (by todays standards) fixed rate savings account that needs to be reviewed after 12 months. A guaranteed interest of about £2500 after the year. That works out at about £50 a week in interest. By the time I die I might be able to afford a decent bike.

Yeah, but you'll have to pay tax on that.

What you want a is an ISA, the current rates are almost as good as the higher fixed rate savings accounts.

KungFooBob wrote: Tue Mar 11, 2025 10:40 am

Dixiethedog wrote: Tue Mar 11, 2025 10:29 am We pulled out of PB's and bunged the cash in a decent (by todays standards) fixed rate savings account that needs to be reviewed after 12 months. A guaranteed interest of about £2500 after the year. That works out at about £50 a week in interest. By the time I die I might be able to afford a decent bike.

Yeah, but you'll have to pay tax on that.

What you want a is an ISA, the current rates are almost as good as the higher fixed rate savings accounts.

I don't pay tax. I would agree that if you are going to be taxed on your savings to use an ISA. I do actually have 2 ISA's running and plan to move them over to a local building society that has good rates. Barclays are currently giving me less than 1% on my ISA. That money would be better in PB's!!

AFAIK savings interest can form part of your £12500 tax free allowance, it's just that anyone with even a modest income uses that allowance up with their salary/pension.

But yeah. ISA

Or at least, maffs. Might still be better off paying the tax

Iirc I can only earn £500 of interest before they start taxing it.

Bag for lower rate tax payers, monkey for higher.

Noggin wrote: Mon Mar 10, 2025 2:31 pm I've not won anything for years, but I've only had £25 in there!!

So, I've just upped it to £125 today! I'm trying to save a reasonable amount each month so might as well put some in Premium Bonds I guess!!! Last of the big spenders tho - but will try and remember to put a bit in each month and see what happens

Got an email from NS&I to say they haven’t been able to accept my bank transfer

No reasons for it. Just not accepted ???

Ok, it was from Revolut as I no longer have a uk bank account but it was in sterling from the sterling account on Revolut so I am a bit confused about the rejection of funds ???

Noggin wrote: Wed Mar 12, 2025 11:46 am

Noggin wrote: Mon Mar 10, 2025 2:31 pm I've not won anything for years, but I've only had £25 in there!!

So, I've just upped it to £125 today! I'm trying to save a reasonable amount each month so might as well put some in Premium Bonds I guess!!! Last of the big spenders tho - but will try and remember to put a bit in each month and see what happens

Got an email from NS&I to say they haven’t been able to accept my bank transfer

No reasons for it. Just not accepted ???

Ok, it was from Revolut as I no longer have a uk bank account but it was in sterling from the sterling account on Revolut so I am a bit confused about the rejection of funds ???

Maybe because you aren't UK resident? Is Revolut a UK bank?

'Yes, non-UK residents can buy and hold Premium Bonds, but they must meet certain criteria.
Criteria
Have a UK bank or building society account in their name
Be able to receive payments in sterling into the UK account'

Count Steer wrote: Wed Mar 12, 2025 12:18 pm

Noggin wrote: Wed Mar 12, 2025 11:46 am

Noggin wrote: Mon Mar 10, 2025 2:31 pm I've not won anything for years, but I've only had £25 in there!!

So, I've just upped it to £125 today! I'm trying to save a reasonable amount each month so might as well put some in Premium Bonds I guess!!! Last of the big spenders tho - but will try and remember to put a bit in each month and see what happens

Got an email from NS&I to say they haven’t been able to accept my bank transfer

No reasons for it. Just not accepted ???

Ok, it was from Revolut as I no longer have a uk bank account but it was in sterling from the sterling account on Revolut so I am a bit confused about the rejection of funds ???

Maybe because you aren't UK resident? Is Revolut a UK bank?

'Yes, non-UK residents can buy and hold Premium Bonds, but they must meet certain criteria.
Criteria
Have a UK bank or building society account in their name
Be able to receive payments in sterling into the UK account'

I sort of knew that, but I thought that the Revolut account would work as it’s in sterling with all the required uk bank info.

Hey ho. Doubt I could even set up a uk bank account now so it looks like I’m destined to leave £25 in there and not get a return

£125

Dunno. The previous £25 didn't land in my bank account until the 10th of Feb. I gather, if I win big, it'll arrive quicker.

I would load the app if you could buy them with it but otherwise happy to wait and see. Can't spend it until it lands anyway.