National Savings & Investments (NS&I), a government-backed savings bank, has been at the center of a case involving prolonged delays in disbursing £49,000 in Premium Bonds and accrued prize money to a 92-year-old widower. The bonds belonged to his late wife, who died in November 2024.
While beneficiaries can opt to keep Premium Bonds in the prize draw for up to 12 months after the holder's death, the estate was expected to be settled shortly after this period. The widower's representative submitted the necessary bereavement documentation, including probate documents, in February, with further forms sent via a solicitor in July. However, by November 2025, when the 12-month period concluded, the funds had not been released, nor had prize money totaling £975 earned between March and November 2025.
Chasing the funds in March through phone, email, and letter, the family was reportedly reissued with instructions for a Grant of Probate, a document typically required by NS&I for balances over £5,000, unlike many high-street banks which often waive this for sums under £50,000.
This situation reportedly emerged in the wake of earlier revelations concerning NS&I's operational failings, which led to tens of thousands of bereaved families being incorrectly informed that their deceased relatives held no accounts. These failings contributed to the resignation of NS&I boss Dax Harkins.
Despite raising a complaint and eventually providing an updated Grant of Probate in May, the funds remained inaccessible, prompting the intervention of a consumer advice column. Following this intervention, NS&I confirmed in late May that the £49,000 balance had been transferred, and a cheque for the winnings was issued.
An NS&I spokesperson stated, "We are sorry that [our customer’s widower] has experienced delays in the processing of his claim at a particularly difficult time for him." The agency confirmed that "the outstanding piece of paperwork" had been received, enabling the payment. Initially offered £100 as an apology, the compensation was later increased to £250 after the issue was raised.
In a separate case, a solicitor who had recently cleared her student loan debt found that extra payments were still being deducted from her salary. The Student Loans Company (SLC) confirmed the error and stated the overpaid amount would be refunded. The SLC explained that such overpayments can occur if an employer receives instructions to cease deductions after their payroll cut-off date, with refunds typically processed by HM Revenue & Customs. Graduates are advised to switch to direct debits for final payments and to obtain an up-to-date quotation when settling loans to account for accrued interest.