Prize Bonds contract secured
An Post and FEXCO secure Prize Bonds Contract
Following a competitive tender process, the National Treasury Management Agency (NTMA) has awarded a new 10-year contract to the Prize Bond Company Limited, a joint venture between An Post and FEXCO, for the operation of the Prize Bond scheme. The current contract expires at the end of October.
The Prize Bonds team has delivered sales growth and improved customer service over recent years and we look forward to working with FEXCO to enhance the current offering.
Prize Bonds are Government securities which instead of paying interest, entitle holders to participate in weekly draws for cash prizes. The Prize Bond fund is worth almost €950 million, €180 million of which was invested this year alone. The NTMA has also announced that a €1 million Prize Bonds Jackpot Prize will be awarded monthly, instead of quarterly, from now on.
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