More than 22 million Premium Bonds holders will have to wait to confirm most August prizes because NS&I is pushing the draw into the working week. NS&I says the two £1 million jackpot winners will be named on Monday, August 3, and the online prize checker will be refreshed on Tuesday, August 4. The provider expects to pay 6,421,715 prizes in August with an aggregate value of £447,379,350, including two £1 million jackpots and roughly 85 prizes of £100,000. Bondholders should ensure their contact details are up to date because NS&I notifies winners by email or text and the two million-pound winners are traditionally told in person by Agent Million.

But NS&I's scheduling rule that the monthly draw falls on the first working day rather than the calendar first is the reason for the shift this August, and it matters because smaller-prize confirmation will be delayed for most account-holders. The two £1 million winners will be informed on Monday, August 3, and the prize checker won't show the wider set of winners until Tuesday, August 4, meaning most people can't verify any prizes until the day after the first working day.

The scale of payments this month underlines why the timing matters. NS&I expects to pay 6,421,715 prizes with a total value of £447,379,350. The breakdown published for August includes two £1 million jackpots, about 85 prizes of £100,000, 172 prizes of £50,000 and 342 prizes of £25,000. Those totals are the figures tens of millions of savers will be checking once the prize checker is refreshed.

Premium Bonds are a Treasury-backed savings product offered by National Savings and Investments. Rather than earning interest, money placed in the bonds is entered into a monthly prize draw with tax-free prizes from £25 up to £1 million.

Individual holders can have up to £50,000 in Premium Bonds and newly purchased bonds must be held for one month before they qualify for the draw.

How winners find out is a practical point for savers. NS&I sends electronic notifications by email or text, so keeping contact details current is the quickest way to be informed.

The two seven-figure winners receive personal notification via the agent known as Agent Million before broader publication. Winners may choose to have cash paid into their bank account or to reinvest proceeds into more Premium Bonds.

The timing quirk in August is straightforward: because August 1 falls on a weekend this year, the draw falls on the first working day, which pushes public confirmation of most results into the following day. That's NS&I's standing rule rather than a one-off change, and account-holders who rely on the online prize checker should plan for the Tuesday update rather than the calendar first.

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NS&I will name the two £1 million jackpot winners on Monday 3 August, with the online prize checker refreshed on Tuesday 4 August.

This article was created with AI assistance.