Overseas Premium Bonds holders have bagged thousands of pounds worth of prizes in recent years, new data shows.
Since January 2020, 21 Premium Bond holders in Russia have claimed £2,975 worth of prizes while war with Ukraine has been ongoing.
In China, 176 bond holders have won £75,050 worth of prizes, data from National Savings & Investments shows.
Premium Bond holders in Saudi Arabia have won £152,350 worth of prizes. There are 670 holders there who have scooped up 3,280 prizes
In the same timeframe, Iran has 280 holders who have bagged 241 prizes worth £13,500. There are 54 Premium Bond holders in Syria who have won 25 prizes worth £925.
Premium Bonds winners across the globe from Russia to China have been cashing in on Premium Bonds
NS&I runs a monthly Premium Bonds prize draw with prizes ranging from £25 up to the coveted top prize of £1million.
Savers can invest as little as £25 in Premium Bonds up to a maximum of £50,000.
The scheme is backed by the Government and is popular with savers as prizes are tax-free unlike regular savings accounts and there is the chance to win one if two £1million prizes every month.
You can hold Premium Bonds even if you don’t live in the UK. But you must have lived in the UK at the point of purchasing Premium Bonds.
Foreign nationals are allowed to keep their Premium Bonds when they leave the UK, although they may need to keep a UK bank account for the winnings to be paid into.
Other bond holders based abroad could be UK nationals who are living or working outside of the UK.
The countries with the most Premium Bond holders outside the UK include Australia where there are 155,012 Premium Bond holders, Canada with 80,723, Ireland with 47,282 and New Zealand with 34,413 Premium Bond holders.
Premium Bonds Prizes are either paid into the winner’s UK bank account or paid as new bonds and added to the person’s holding, which has a £50,000 limit.
An NS&I spokesman says: ‘The vast majority of Premium Bonds holders live in the UK. Premium Bonds can only be purchased by savers if they hold a UK bank or building society account in their name.
‘Where Premium Bonds are held overseas they may be UK nationals living or working abroad.
‘Any prizes are either paid into a UK bank or building society account, via a UK pound sterling warrant – similar to a cheque, or reinvested into more Premium Bonds.’
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