For thousands of people in Dorset and across the United Kingdom, the prospect of an unexpected windfall could be closer than they think. According to recent data released by National Savings and Investments (NS&I), there is currently more than £1.1 million ($1.4 million) in unclaimed Premium Bonds prizes languishing in Dorset alone. This local figure is just a small part of a much larger national trend, with over £103 million ($139 million) in tax-free winnings left untouched throughout the UK as of June 2025—a sum that could be truly transformative for those who come forward to claim it.
Premium Bonds, a uniquely British savings product introduced by NS&I in 1957, have long offered savers the chance to forego traditional interest in favor of monthly prize draws. Each £1 bond enters a random drawing conducted by ERNIE (the Electronic Random Number Indicator Equipment), with prizes ranging from £25 to a life-changing £1 million. The odds for each bond to win stand at 22,000 to 1, making every bondholder a potential winner, no matter how long ago their investment was made.
But why are so many prizes going unclaimed? According to the Dorset Echo, as of March 31, 2025, there were 31,565 unclaimed prizes in Dorset alone, totaling £1,174,800 ($1,582,328). These include several awards of £1,000 ($1,353) and even one prize dating all the way back to February 1964, worth £25 ($33.82). Nationally, the scale is even more striking: over 2.5 million prizes worth more than £103 million remain unclaimed, including 11 prizes of £100,000, 19 prizes of £50,000, 38 prizes of £25,000, and 75 prizes of £10,000, as reported by the Express and MyLondon.
The reasons are as mundane as they are frustrating. Many unclaimed prizes are the result of outdated contact details or forgotten accounts, particularly those opened decades ago or given as gifts to children. NS&I typically notifies winners by post, email, or text, but if a letter is lost or if a bondholder moves without updating their information, the notification can easily slip through the cracks. Cheques sent before 2011 may expire uncashed, and old bonds or certificates are often tucked away in drawers, only to be rediscovered years later.
Jessica Willock, a personal finance expert at Confused.com, commented to MyLondon, "Premium Bonds are a popular way to save, but it can be easy to forget about them once they're set up. That's why it's not surprising to hear that over £100 million in prizes is currently unclaimed. With millions of people holding bonds, there's a good chance some have money waiting for them and don't even realise it."
In Dorset, the issue is particularly acute. The county boasts 332,240 Premium Bonds accounts worth £2.7 billion ($3.6 billion), with more than 162,000 accounts showing no activity for over 20 years. These dormant accounts alone are valued at £11 million ($14.8 million), suggesting that a significant number of local residents may be unaware of their potential winnings. Social media has buzzed with reminders, such as a post from @Dorsetecho: "More than £1m of Premium Bonds prizes left unclaimed in Dorset."
Nationally, the scale of dormant savings is staggering. There are 23 million Premium Bonds holders across the UK, with a collective £130 billion ($175 billion) invested. NS&I reports that it has paid out 99% of all prizes since 1957, but the remaining 0.28%—the equivalent of £103 million—still sits unclaimed. In the financial year 2024/25 alone, NS&I reunited more than £166 million through 52,693 accounts for holders who had lost touch with their savings, including over £120 million in Premium Bonds winnings.
Andrew Westhead, NS&I's Retail Director, emphasized the importance of vigilance, stating, "These figures are a timely reminder to update your details, talk to your loved ones about your savings and make sure your money stays firmly in your hands, both now and in the future." He added, "The £103m of prizes currently unclaimed represents just 0.28%."
So, what can bondholders do to check if they have unclaimed winnings? NS&I offers a prize-checking facility on its website, nsandi.com/prize-checker, requiring only a holder's number or NS&I number. There's also a mobile app available on the Apple Store and Google Play, which not only reveals the latest draw results but also highlights any previous unclaimed prizes. For those who have lost their details, NS&I provides a free tracing service online or through the My Lost Account portal at mylostaccount.org.uk. Customers can also contact NS&I by phone or mail for assistance, and executors handling the estates of deceased relatives can make claims, though probate is required for amounts over £5,000 ($6,761).
Importantly, there is no time limit for claiming Premium Bonds prizes. NS&I holds unclaimed winnings indefinitely, backed by HM Treasury, and the money does not revert to the government or get used to fund new prizes. As NS&I puts it, "We'll hold on to it until you get in touch." This policy ensures that even the oldest prizes—like that £25 from 1964—remain available to their rightful owners.
Critics, including money expert Iona Bain, have called for reforms to NS&I's tracing process, especially amid the ongoing cost-of-living crisis. Bain told the Dorset Echo, "Whilst it can be administratively complex to track down historic money, it's vital that savers are reunited with their winnings." NS&I, for its part, points to its high payout rate and the £166 million reunited with savers in the past financial year as evidence of its commitment to reconnecting people with their money.
For those looking to avoid future issues, NS&I strongly recommends opting for direct bank payments. According to the agency, nine in ten prizes are already paid directly into bank accounts, a method that dramatically reduces the risk of missed notifications or lost cheques. Customers can also choose to have their prizes reinvested into more Premium Bonds, further increasing their chances of future wins.
The global reach of unclaimed prizes is noteworthy as well. Trustnet reports that 118,653 overseas prizes worth £4.6 million ($6.2 million) remain unclaimed, underscoring the widespread nature of the issue.
As the cost-of-living crisis continues to squeeze households, the importance of reclaiming forgotten assets has never been greater. Whether it's a modest £25 or a life-changing six-figure sum, unclaimed Premium Bonds winnings represent an opportunity for financial relief that many cannot afford to overlook. With millions of pounds waiting to be claimed, perhaps it's time to check those old documents or log in to the NS&I prize checker—your forgotten fortune might be just a click away.
The story of unclaimed Premium Bonds prizes is a reminder that sometimes, the luckiest break is simply remembering to look.
