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Rikkitic

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#274508 26-Aug-2020 10:40
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I just saw on Stuff that Bonus Bonds are being wound up. Anyone who has them might want to check this out.

 

 





Plesse igmore amd axxept applogies in adbance fir anu typos

 


 


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MikeB4
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  #2549863 26-Aug-2020 10:42
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I thought they died years ago. 


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freitasm
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  #2549869 26-Aug-2020 10:57
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I had a couple of thousand on these but withdraw all about five years ago. Wife's got some but she'll be moving it to Sharesies.

 

Note the line that says you can stay until final payout but it may lock your funds for 12 months...





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deltadelta
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  #2549870 26-Aug-2020 11:00
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Good. I could never understand why Bonus Bonds weren't thought of as a form of gambling. Yes, you'll get your capital back, but you've still lost money because of inflation!



Oblivian
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  #2549881 26-Aug-2020 11:14
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If anyone else of similar age is in the same boat, it was probable because they were the go-to for relatives giving birthday presents you couldn't touch.

 

I got $20 win to add to my $70 that was there about 6 years back. And that's been it for a ~30 year span.

 

 

 

Just tried to cash out, and the server is PAINFUL. Not sure if it's been neglected or there is a sudden rush.

 

Even normal 'saving' has gone to pooze. Spending well more than the monthly interest on a substantial deposit. Sucks they can hand out money to people to cash up on houses. While basically giving you $0 for using your dosh 


MikeAqua
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  #2549883 26-Aug-2020 11:15
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I had a $5 bonus bond gifted to me by each of my grandparents when I was born (>39 years ago πŸ™„).  I've kept all four bonds, all this time, for sentimental reasons

 

Who can guess how much money I have won in all that time?

 

 





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  #2549888 26-Aug-2020 11:21
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MikeAqua:

 

I had a $5 bonus bond gifted to me by each of my grandparents when I was born (>39 years ago πŸ™„).  I've kept all four bonds, all this time, for sentimental reasons

 

Who can guess how much money I have won in all that time?

 

 

No idea - but please don't keep us waiting... What's the number?





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freitasm
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  #2549890 26-Aug-2020 11:23
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Oblivian:

 

Even normal 'saving' has gone to pooze. Spending well more than the monthly interest on a substantial deposit. Sucks they can hand out money to people to cash up on houses. While basically giving you $0 for using your dosh 

 

 

So true. Opened a savings account for our daughter when she was born, put some money there every month plus credit card cashback... Painful to see the cents that are deposited every month by the bank. Over the last year started depositing on Sharesies for her - and it performed so much better (although it's a long term strategy - short term sharemarket can be a loss depending on timing).





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xpd

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  #2549891 26-Aug-2020 11:23
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THink I've had about $500 in 40+ years....





       Gavin / xpd / FastRaccoon

 

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MikeB4
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  #2549893 26-Aug-2020 11:25
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freitasm:

 

 

 

No idea - but please don't keep us waiting... What's the number?

 

 

3,769,842.37


jamesrt
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  #2549906 26-Aug-2020 11:49
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Oblivian: Just tried to cash out, and the server is PAINFUL. Not sure if it's been neglected or there is a sudden rush.

 

It's the rush; I understand the problem is under investigation with a 3rd party vendor involved.


  #2549950 26-Aug-2020 11:54
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I'm actually a fan of bonus bonds, or at least was when I was young! In my 20s I used it as a way of having my savings out of sight. I first saved up for laser eye surgery by making regular deposits into BB. Around 2008 I had a very successful run of 'wins', the biggest was $500 and but also several smaller prizes of $20, $60 etc...

 

I guess my investment and savings strategy is more refined these days and I wouldn't use Bonus Bonds now, but for a time it was really useful. 

 

 


freitasm
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  #2549953 26-Aug-2020 11:58
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jamesrt:

 

Oblivian: Just tried to cash out, and the server is PAINFUL. Not sure if it's been neglected or there is a sudden rush.

 

It's the rush; I understand the problem is under investigation with a 3rd party vendor involved.

 

 

Demand, no scale...

 

 

 

[Edit: changed reason]





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gbwelly
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  #2549963 26-Aug-2020 12:17
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deltadelta: Good. I could never understand why Bonus Bonds weren't thought of as a form of gambling. Yes, you'll get your capital back, but you've still lost money because of inflation!

 

Still better than a lotto ticket where it's all gone.

 

I don't think it's fair to judge Bonus Bonds too harshly, they make no sense nowadays, but during the early 2000s when interest rates were high I'd frequently win prizes.








freitasm
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  #2549966 26-Aug-2020 12:26
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gbwelly:

 

deltadelta: Good. I could never understand why Bonus Bonds weren't thought of as a form of gambling. Yes, you'll get your capital back, but you've still lost money because of inflation!

 

Still better than a lotto ticket where it's all gone.

 

I don't think it's fair to judge Bonus Bonds too harshly, they make no sense nowadays, but during the early 2000s when interest rates were high I'd frequently win prizes.

 

 

On this comment, I promised myself to stop putting money on lotto tickets - a $ 25 ticket a week can be up to $ 1300/year! - and instead, put this same amount on my Sharesies account.





Support Geekzone by subscribing, making a donation. or using one of our referral links: Sharesies | Goodsync  | Mighty Ape | Backblaze | Norton 360 | Lenovo laptops 

 

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jonathan18
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  #2549967 26-Aug-2020 12:27
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MikeAqua:

 

I had a $5 bonus bond gifted to me by each of my grandparents when I was born (>39 years ago πŸ™„).  I've kept all four bonds, all this time, for sentimental reasons

 

Who can guess how much money I have won in all that time?

 



 

Huh, very similar experience here... close to 40 years ago someone my father did gardening work for gave me and the rest of my siblings a $5 bonus bond each. Didn’t really think of them for about 37 years until I came across the bonds in my father’s documents after he died. Each even had the initial of the ‘owner’ on them. 

 

Stupidly I went to the effort of taking mine into an ANZ, and then had to go through the hassle of having some digital account set up only to - and here’s a shocker - find out I’d won nothing in that c. 40 year period! Siblings haven’t done anything with theirs. 


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