Buying Prizebonds online after being registered

A while back I bought Prize Bonds. This was the first time I purchased Prize Bonds since they brought in the stricter ID requirements. I generally find Prize Bonds a poor return on investment but decided to give it a go more for entertainment sake.

After I was registered on the system apparently it is much easier to purchase further Prize Bonds online and in a Post Office as you no longer need to verify your identity again. One of the places the N26 debit card was not accepted was at Post Offices and to purchase Prize Bonds online. This was because these systems identified the BIN (first 6 numbers of the card number) as a credit card and not a debit card. I got in touch with An Post regarding this and to their credit they had it fixed very quickly.

I decided to try buy more Prize Bonds online to test and make sure the card does work. I was impressed as to how easy it was.

First you just enter in your Surname, PPS Number, Date of Birth and Email. On the next page you confirm you have read and accept the Terms & Conditions.

Then you select how many Prize Bonds you wish to purchase. Each prize bond costs €6.25 and the minimum purchase is 4 units or €25.

Finally, you verify the order and then enter in your credit card details.

 

The whole process is completed in a minute or two. I don’t believe the return rate that Prize Bonds offer make it a very good investment choice. However, I suppose the chance of winning a €1,000,000 ever quarter would entice a lot of people to purchase them. They’ll be a better investment than Lottery Tickets anyway~

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