Post Office to stop selling Premium Bonds over the counter

Savers won't be able to buy Premium Bonds from the Post Office after 31st July, following an announcement from National Savings and Investments (NS&I).

Premium Bonds have been available from the Post Office since they were launched in 1956.

Rather than earn interest, bondholders are entered into a monthly draw with prizes ranging from £25 to £1 million.

The move has been put down to 'changing' demand from savers, and means that from August Premium Bonds will only be available through NS&I's website, over the phone or by post.

Since 2013, savers haven't been able to cash in bonds or make any administrative changes at the Post Office. Those who have bought Premium Bonds from the Post Office in the last year will be informed of the changes by post.

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