Fun Facts and Myths about Premium Bonds

There are many web pages dedicated to successes of the premium bond program in Great Britain but there are also some false facts that are circulating around the net that gives premium bonds a bad name and puts out false information that would keep some otherwise wise investors from even purchasing their first bond lot. This post presents some of this false information so that the discerning investor can make clear and logical choices when investing their money in the premium bond system. Remember these are myths and false facts that have been discounted by the government agencies that were selected to monitor the actions of the National Savings and Investment agency.

One myth is that the million pound winner is always notified in person on the last day of the month after the drawing. The winner has to be at home or the prize will be given to another premium bond member or will not be given away at all. The myth also supports another. Since you have to be home to win the prize, the myth says the statistics support the idea that most people that win the million pounds are in their nineties and that they are home all the time anyway. Most people in their nineties live in a retirement community or nursing home and they would not have an address that would support the myth.

There is a ridiculous rumor that nobody has ever met a million pound winner. This myth contends that it is a government hoax and the sole purpose of this hoax is to trick people into giving their money to the government in lieu of taxes. This is completely false. Not only is there a website that lists all the million pound winners, it even lists the towns they live in and what date they won. Of course the National Savings and Interest agency is going to keep them secret because the publicity generated would destroy their privacy and make the million pounds more of a burden than a pleasure.

There is even a rumor about premium bonds and the famous British comedian Bennie Hill. Though Bennie Hill died at the age of 92, the myth says he had just won a million pound prize and he was killed by his jealous grandmother because of the money. Bennie Hill was already a wealthy man and the age of the jealous grandmother would make her about hundred and twenty years old. This does not only make sense chronologically but the woman at that age would have a hard time killing anyone.

There has even been a website posted with these myths and the challenge for anyone that has won a million pounds to come forward and dispute the myths. To this day, no one has posted on the site. This is logical because by posting they would be giving up their privacy as well as the possibility of setting themselves up for a scam. The National Savings and Investment is a sound agency that guarantees your money. These myths are just created by trouble making losers to damage bond integrity.