PrizePool is a new type of bank account where you can win one of the over 4,000 cash prizes totaling $50k in every 4-week Series simply by saving money. One lucky winner will get the $10,000 Grand Prize out of this guaranteed PrizePool. Whether you win a prize or not, you'll never lose your deposit and you'll earn a 0.30% annualized Savings Bonus that's paid month. All of your money is FDIC insured with no fees or minimums.
HOW IT WORKS
- By saving money, you're automatically entered into the weekly drawings. You get a ticket for every dollar you save, per day.
- Within a Series, the drawing happens at the end of each week for thousands of prizes. One of these thousands of lucky winners will get the Grand Prize of $10,000 out of this guaranteed PrizePool.
- Whether you win a prize or not, you'll never lose your deposit (it's FDIC insured) and you'll still earn a 0.30% Savings Bonus.
SAVE MORE TOGETHER
- Boost your winnings with referrals! Receive a bonus of 10% of any prize won by a friend you refer to PrizePool, and they receive a 10% boost on their winnings just for using your referral code at signup. Referrals never expire, bonuses are paid for as long as you're both using PrizePool.
SECURE AND INSURED
- Your deposits are protected and secured by our partner bank, Evolve Bank & Trust, Member FDIC, with bank-level security and encryption.
- Your deposits are FDIC insured up to $250,000.
- There are no minimums or fees.
- Applying for an account is free, takes less than two minutes, and won't impact your credit score.
Banking services provided by Evolve Bank and Trust, Members FDIC.
Thank you for using PrizePool. In this update we made the following changes:
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Ratings and Reviews
Prizepool is LEGIT and is a fun way to save money
I had been earning absolute SQUAT at my traditional savings account due to extremely low interest rates with the Fed funds rate near zero. I found this app randomly in an Instagram ad, and I thought it appeared sketchy and “too good to be true”, but figured I’d take the risk and deposited a small amount of money. Sure enough, I won a $10 prize! I’ve added more money to it since then, and in a little over 2 months, I’ve earned almost $50 from the weekly prize drawings, which is MUCH higher than the LESS THAN $1 “interest” I had been earning in my traditional savings account every quarter. The customer service response team also answers all of your questions quickly and is very helpful! I moved all my savings to prize pool, since it’s a great alternative to a HYSA, and I look forward to add more as the app continues to evolve and add new features! :)
Great Saving App!
I Love this app! I just transfer money that I want to be save and forget all about it until I get a notification saying they did the draw for the grand prize. That’s just a plus. At first, I was concerned because I don’t have much money to beginning with And I don’t want to put in any of my money in a place I don’t trust but, I did find out about this app via Instagram and when I asked my questions to the support email I got a respond back right away and from the CEO himself!! He answered all my questions. I loved that and that was when I gave it a chance and I’m really glad I did.
Developer Response ,
Thank you so much for the wonderful feedback. Good luck to you and congratulations for saving!
Good idea but needs some work.
The idea is great and you do make a higher interest-rate when all is said and done,but there are some issues that I have found. When you transfer money from one account to this one, it takes forever for the transfer to happen and then even after the money is in the account it’s held for quite a few days before you can access it. Second this is meant to be a savings account and they give you rewards for making sure you save money. Now, they have a debit card which is a good idea except then they reward you for spending money which is completely opposite of what they purport to be doing. And if it is a savings account, how do you get past the federal rules about withdrawing from a savings account?
Data Linked to You
The following data may be collected and linked to your identity:
- Financial Info
- Contact Info
Data Not Linked to You
The following data may be collected but it is not linked to your identity:
- Usage Data
Privacy practices may vary, for example, based on the features you use or your age. Learn More
- PrizePool, Inc.
- 91 MB
- Requires iOS 12.0 or later.
- iPod touch
- Requires iOS 12.0 or later.
- Requires macOS 11.0 or later and a Mac with Apple M1 chip.
- Age Rating
- 17+ Infrequent/Mild Simulated Gambling Frequent/Intense Contests Gambling
- © PrizePool, Inc.
With Family Sharing set up, up to six family members can use this app.