Warrants will still be able to be sent in the October and November prize draws but customers who do not take action will be sent a prize claim letter instead of a warrant from December.

From March 2021, warrants will no longer be sent out at all.

Jill Waters, NS&I’s Retail Director, commented on the coming changes: “We will be phasing out the use of prize warrants from the December 2020 Premium Bonds draw.

“While we understand that there is a real affection for prizes being received by post, paying prizes directly to customers’ bank accounts means that winners can receive prizes quicker, easier and more securely