What happens if I choose automatic reinvestment of my Prizes in new Prize Bonds?

What is automatic reinvestment?

Automatic reinvestment is one of two Prize Bond winnings payment options available to Prize Bond customers.

It consists of the value of a prize won being automatically reinvested in new Prize Bonds in the registered Bondholder(s) name(s), for inclusion in future draws.

The Bondholder(s) will be notified of the prize by post on receipt of the new bond certificate which will contain the value of the prize and their new bond numbers.

How do I avail of automatic reinvestment for my Prize Bonds?

Choose your payment option (automatic reinvestment or payment via EFT) at any time by completing and returning a Prize Payment Option Form or by selecting your preferred option in State Savings Online.

How will I know if I won?

If you are successful in a prize draw, you will receive your new bond certificate to your registered address.

It is important that you keep you name and/or address up to date with State Savings 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.

How will I know my winning Bond Number?

If you have chosen automatic reinvestment in new Prize Bonds as your preferred prize payment option you have three options available to find out your winning Bond Number after you receive your new bond certificate in the post:

  • Avail of the online prize checking facilities on www.statesavings.ie

  • Phone us and quote the account number on the new bond certificate. We may ask additional security questions to verify your identity.
  • Signing into State Savings Online to view Prize details including date, value and winning bond number.

 

Do I have to hold Prize Bonds reinvested from Prize Bond winnings for 90 days?

No, Prize Bonds that have been purchased from a prize win are not required to be held for a minimum of 90 days. These bonds are eligible for repayment to your bank account once issued.

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)?'
 

Do the new Prize Bonds reinvested from Prize Bond winnings count towards my maximum limit?

Prize Bond winnings that are reinvested in new Prize Bonds are exempt from Maximum Holding Limit.

If any investment brings the total product holdings in Prize Bond holdings registered in your name over the Maximum Holding Limit, you will not be allowed to make any additional purchases of Prize Bonds.

However, you may continue to invest any proceeds of Prize Bond winnings into additional Prize Bonds.

Note: Prize Bond winnings must be reinvested within 30 days of winning to qualify for this exemption.