Announced back in September this year, NS&I will begin to phase out Premium Bonds paper prize cheques from December.
As such, any Premium Bonds holders still receiving paper warrants have been directed to take action to ensure they continue to automatically receive payment of their prizes.
Due to the phased approach, some may still receive paper warrants in subsequent draws.
However, by March 2021, the issuing of paper warrants for the payment of prizes won in the monthly Premium Bonds prize draws will have been phased out completely.
Ian Ackerley, NS&I Chief Executive, said: “Paying Premium Bonds prizes directly into customers’ bank accounts is quicker, easier and more secure for everyone.