National Savings & Investments (NS&I) has resolved a lengthy delay in releasing £49,000 in Premium Bonds inherited by a widower after his wife's death in November 2024. The funds and owed prize money were eventually transferred at the end of May.
The delay prompted the intervention of a consumer advice column after the widower, aged 92, faced months of difficulty in accessing his late wife's savings. The couple's child, acting on behalf of their father, had submitted the necessary bereavement forms, including probate documents, by February, with the solicitor's forms returned in July 2025. Despite the 12-month waiting period after the death elapsing in November 2025, the bonds and prize money remained undelivered.
Attempts to inquire about the funds in March through phone, email, and letter led NS&I to reissue instructions requesting a Grant of Probate, a document typically required for balances over £5,000. This requirement is more stringent than that of most major banks for sums under £50,000. The situation was further complicated by NS&I conducting checks for additional unknown accounts in the deceased's name, a process initiated following earlier revelations of operational failings where bereaved families were incorrectly informed about their loved ones' accounts.
Following the complaint and further communication, including the provision of an updated Grant of Probate in May, the funds were finally transferred. NS&I stated that the delay was regretted and that the necessary paperwork from the family member holding power of attorney had now enabled the payment.
As an apology for the inconvenience, NS&I initially offered £100, which was later increased to £250 after the consumer advocate commented on the inadequacy of the initial offer, given the six months the funds had been held without earning returns.