Premium Bonds: British Nationals Abroad
The question
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential merits of introducing new methods for expatriates to receive access to premium bond earnings without a UK bank account.
Answered by Emma Reynolds
National Savings & Investments (NS&I) can only make payments to, and receive payments from, a UK bank or building society account in pounds sterling. Therefore, to save with NS&I, customers must have a UK bank or building society account in their name. This policy ensures value for money for taxpayers and minimises the risk of fraud.
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