Prize Bond winnings payment options There are Prize Bond winnings payment options to choose from: Prizes can be automatically paid into the registered Bondholder’s bank account on provision of a SEPA IBAN and proof document validating the IBAN. OR Prizes may be automatically reinvested in new Prize Bonds in the name(s) of the registered bondholder(s), on their behalf, for inclusion in future draws. Please note: Where bank details are not provided, the prize payment option will default to automatic reinvestment in new Prize Bonds in the name(s) of the registered bondholder(s), on their behalf. Both options provide customers with quick and easy access to prizes. Prize payment option can be chosen when completing a purchase application form. Alternatively you can change your prize payment option at any time by: A) Completing a Prize Payment Option Form and sending it by post to State Savings, Fexco Centre, Killorglin, FREEPOST, Co Kerry, V93 WN9T OR B) Signing in to State Savings Online and selecting your Prize Bond winnings payment option in your Prize Bond settings. Prize Bonds notify all Prize Bond winners by post either with your new bond certificate for automatic reinvestment or confirmation letter for prizes paid to your bank account. Watch Video: 'Your Prize Bond winnings payment options' FAQs How will I know if I won? You can check to see if you have won a prize online at www.statesavings.ie. You will be notified by post with a new bond certificate for automatic reinvestment in new Prize Bonds or confirmation letter for prizes paid to your bank account. It is important that you keep you name and/or address up to date with State to ensure you receive notification of any winnings. Click here for information on how to update your personal details with State Savings including the Change of Name and or Address form or contact us on 0818 20 50 60 / 01 705 7200 and we will be happy to assist. Get timely notifications of your prizes by registering for State Savings Online where you can receive online notification of any prizes on the day of the draw and you can view details of any recent and previous prizes. What is the benefit to me? The options of automatic reinvestment in new Prize Bonds and EFT payments provide fast and efficient methods of processing Prize Bond winnings. As EFT payments are not subject to clearing times they are accessible immediately once they appear in your account. If you choose automatic reinvestment as a Prize Bond winnings payment option, we will complete the reinvestment process and you will receive your new bond certificate within 5 working days of your Prize Win. Your new Prize Bonds will be eligible to win a prize in the following week’s draw. What happens if I don’t indicate my Prize Bond winnings payment option? If you have not indicated to us which is your preferred Prize Bond winnings payment option your Prize Bond winnings will be automatically reinvested in new Prize Bonds in the name(s) of the registered bondholder(s), on your behalf. If you wish to transfer the value of this prize to your bank account, please see 'How do I request a repayment of my State Savings products (including Prize Bonds)?'. Customers registered for State Savings Online (SSO) may choose the Prize Bond winnings Payment Option online. I don’t have an Irish bank account? Prizes can only be automatically lodged into a SEPA account. If you do not have such a financial account you can avail of the alternative prize payment option i.e. automatic reinvestment of Prize Bond winnings in new Prize Bonds. What if I win a jackpot prize of €50,000 or €500,000? The winners of the jackpot prizes are issued a Prize Claim Form. The form allows you to choose how you wish the jackpot prize to be paid i.e. automatic reinvestment in new Prize Bonds in the name(s) of the registered bondholder(s) or automatically paid into the registered Bondholder(s) bank account on provision of a SEPA IBAN and proof document validating the IBAN.