How to Cash Out Specific Premium Bonds Online (Without Using Post)
Most Premium Bonds holders don't know this: you can choose exactly which bonds to cash out online — you don't have to use the postal form. Here's the hidden NS&I form that lets you do it, and why you might want to.
The Common Misconception
If you've ever tried to cash out Premium Bonds through your NS&I online account, you'll have noticed something frustrating: the standard withdrawal option only lets you specify an amount to withdraw. NS&I then automatically selects your oldest bonds first.
This leads most people to believe that if you want to choose specific bond numbers to cash out — perhaps to keep your "lucky" bonds or manage your holdings strategically — you need to download form NS&I 9466, fill it in by hand, and post it.
That's not true. There's an official NS&I online form that lets you do exactly this, entirely digitally.
🔗 The Hidden Form
NS&I's online form for selective bond withdrawals is available at:
forms.nsandi.com — Withdraw Specific Premium Bonds
This form allows you to enter the exact bond numbers you want to cash out, rather than just an amount.
How It Works
The online form is straightforward. You'll need:
- Your NS&I number (also called your holder's number)
- The specific bond numbers you want to withdraw
- Your bank details for the withdrawal
You can find your bond numbers by logging into your NS&I account and viewing your bond holdings, or by checking previous prize winner notifications which list the winning bond numbers.
Step-by-Step Process
- Visit the NS&I online withdrawal form
- Enter your personal details and NS&I number
- Input the specific bond numbers you wish to cash out
- Provide your bank account details for the payment
- Review and submit the form
Processing typically takes 3-8 working days, similar to standard online withdrawals.
Why Would You Want to Choose Specific Bonds?
There are several legitimate reasons you might want control over which bonds you cash out:
1. Keeping Your "Lucky" Bonds
Many holders have bonds that have won multiple times. While statistically every bond has the same odds each month (currently 1 in 22,000), there's an emotional attachment to bonds that have "proven" themselves. If you need to reduce your holdings, you might prefer to keep these.
⚠️ A Note on "Lucky" Bonds
Mathematically, past performance doesn't affect future odds. A bond that won last month has exactly the same 1 in 22,000 chance next month as any other bond. But if keeping certain bonds gives you peace of mind, that's a perfectly valid personal choice.
2. Tax Year Planning
Premium Bonds prizes are tax-free, but the capital you withdraw might affect other tax calculations depending on your circumstances. Being able to control the exact timing and amount of withdrawals gives you more flexibility.
3. Record Keeping
If you track your bonds in a spreadsheet or have specific bonds registered for different purposes (perhaps some for an emergency fund, others for a specific goal), selective withdrawal helps maintain your organisational system.
4. Gift Planning
If you received bonds as gifts at different times or from different people, you might want to keep certain ones for sentimental reasons while cashing out others.
Comparison: Standard Withdrawal vs. Selective Withdrawal
| Feature | Standard Online Withdrawal | Selective Online Form |
|---|---|---|
| Choose specific bonds | ❌ No — oldest bonds cashed first | ✅ Yes — you pick the bond numbers |
| Requires login to NS&I account | ✅ Yes | ❌ No — standalone form |
| Processing time | 3-8 working days | 3-8 working days |
| Need to know bond numbers | ❌ No | ✅ Yes |
| Available 24/7 | ✅ Yes | ✅ Yes |
Finding Your Bond Numbers
To use the selective withdrawal form, you'll need to know the actual bond numbers you want to cash out. Here's where to find them:
- NS&I Online Account: Log in and navigate to your Premium Bonds holdings. You can view and download a full list of your bond numbers.
- Prize Winner Emails/Letters: When you win, NS&I tells you which bond number won. These are often the ones people want to keep!
- Annual Prize Statement: If you receive paper statements, these list all your bond numbers.
💡 Pro Tip: Export Your Bond List
Download your complete bond list from your NS&I account and save it somewhere accessible. This makes it easy to reference specific bonds when you need to, and helps you track which bonds have won over time.
When Standard Withdrawal Makes More Sense
While selective withdrawal gives you control, the standard "oldest first" approach is actually sensible in most cases:
- Older bonds have been in more draws — cashing these out first is statistically neutral but means your remaining bonds are "fresher"
- Simpler process — no need to look up bond numbers
- Done through your secure account — slightly more convenient than a standalone form
If you don't have a specific reason to keep certain bonds, the standard withdrawal process is perfectly fine.
Should You Keep Premium Bonds at All?
Before deciding which bonds to cash out, it's worth considering whether Premium Bonds are still the right home for your savings. With the current prize fund rate at 3.6%, the median return (what most people actually get) is significantly lower.
Our calculator can help you compare your expected Premium Bonds returns against current savings account rates:
Are Your Premium Bonds Worth Keeping?
Use our calculator to see your realistic expected returns and compare them to guaranteed savings rates.
Frequently Asked Questions
Can I use this form if I hold bonds for someone else (e.g., as a parent)?
There are separate forms for withdrawing bonds held on behalf of children or other people. The form linked in this article is specifically for withdrawing your own bonds.
Is there a minimum or maximum I can withdraw this way?
You can withdraw any number of bonds using this form, from a single £1 bond up to your entire holding. The same £25 minimum purchase rule doesn't apply to withdrawals.
Will my selected bonds be entered in the next draw before being cashed out?
Bonds are eligible for prizes until they're actually cashed out. If you submit the form close to the 1st of the month, your bonds may still be included in that month's draw. Check the NS&I website for specific cutoff dates.
Why doesn't NS&I make this option more visible?
The standard "oldest first" approach is simpler for most users and works well for the majority of withdrawals. The selective option exists for those who need it, but promoting it widely might create confusion or unnecessary complexity for casual users.
Summary
You can choose exactly which Premium Bonds to cash out online — you don't need to use the postal form. The NS&I online withdrawal form lets you specify individual bond numbers for withdrawal.
Whether it's to keep your lucky bonds, manage your holdings strategically, or just have more control over your savings, this hidden option is worth knowing about. Bookmark the link for when you need it.