Premium Bonds vs Monzo

I have seen two people recently moving money from their savings accounts NSI premium bonds. I thought would a good idea if this could be controlled quick and easily through Monzo. I am sure it would encourage more customers for Monzo.
What does everyone think???

It’s not clear to me what you are proposing here?

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You can do a bank transfer to NS&I with your holder number to buy premium bonds.

Do you mean that Monzo should have an in app integration with NS&I to offer investment and gambling?

I don’t think National Savings and Investments is gambling, is it? :thinking:

Whilst there is a chance to win some money each month, ultimately, your capital is protected. The only “risk” involved is that you don’t earn interest on that capital, which at cash rates these days, probably isn’t going to be much. So no, probably not gambling.


Not really, no. I forgot the tongue in cheek emoji thingy.

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Fair enough. :+1:

I only asked as I was aware Monzo pioneered (I think?) the gambling block and I wouldn’t have expected NS&I to be subject to this.

I’d love an integration with the Premium Bonds in my Monzo account, in a similar way to how the Credit Card integrations work, i.e. just balance for now with the intention of allowing quick deposits/withdrawals later (subject to that being possible I guess).

Money Dashboard pulls in Premium Bonds balance and updates when prizes are reinvested, so can’t see why they couldn’t do that. Probably not a huge priority for development though.

It would fit with Mondo’s original vision of being a banking hub/marketplace. I think they’ve shifted focus to monetising by copying the legacy banks in flogging premium accounts?