The NTMA, who have been delegated responsibility for State Savings, have informed me that all Prize Bond holdings operate in accordance with their Terms and Conditions, including requirements that instructions on joint accounts must be authorised in line with agreed signing arrangements.
These safeguards reflect the Prize Bond Company’s duty of care to all joint account holders, ensuring that the interests of all parties are protected. Where the required authorisations are in place, funds are fully accessible.
The NTMA also informs me that as instances where the required authorisations are not provided are case, and circumstance, specific, they are not subject to centralised recording.
The number of deceased cases resolved over the past five years with the funds being released is 23,627. These had a combined value of just over €256 million.
The NTMA and its agent continue to engage with customers to resolve individual cases as efficiently as possible, while maintaining appropriate safeguards for all account holders.
