Welcome to my PrizePool review. PrizePool is a banking account that gives you the chance to win up to $25,000 monthly. I have partnered with PrizePool and all opinions are 100% my own.
Are you looking to start saving more money? Perhaps you want to find a way to make saving money more fun?
PrizePool gives you the opportunity to win up to $25,000 every month by simply saving money.
And, it’s completely free and there is no catch!
PrizePool’s mission is to help Americans improve their finances. PrizePool realizes that the majority of U.S. households spend their hard earned money on playing the lottery each week, even though it is very unlikely that they will ever actually win the lottery.
This is where PrizePool comes in – You get the opportunity to save your money in a savings account and have the chance to win real cash prizes. The great thing, though, is that you can’t lose!
PrizePool makes saving money fun, so that you are more motivated to save money and improve your financial situation.
PrizePool has been featured on Wall Street Journal, Cheddar, and more, and I definitely see it becoming more and more popular.
You can click here to learn more about PrizePool. Also, you can use my PrizePool referral code EWD76 when you sign up for a 10% bonus on the prize money that you win.
Today, I am going to talk more in-depth on PrizePool, tell you how you can sign up, talk about the different PrizePool prizes, and more.
Here’s a quick summary of this PrizePool review: PrizePool is a new type of savings account where you can win one of the over 15,000 cash prizes totaling $50,000 every month simply by saving your money in a savings account. One lucky winner will get the $25,000 Grand Prize out of this guaranteed PrizePool each and every month. PrizePool savings accounts are FDIC insured too.
Below is my PrizePool review.
What is PrizePool?
PrizePool is a savings account that rewards you for saving money.
Their mission is to motivate people to save more money, and they do this by giving you tickets to win up to $25,000 each and every month.
PrizePool also offers a savings bonus (it’s like interest) of 0.30% annualized return. This is in addition to any prizes you win. So no matter what, you’re always winning.
How does PrizePool work?
For every $1 in your PrizePool savings account, you will receive 1 ticket per day.
So, if you have $100 deposited into your PrizePool banking account from June 1st to June 10th, you will have 1,000 tickets. Then, all of these tickets will be entered into each weekly drawing.
What are the prizes in PrizePool? How do PrizePool drawings work?
There are over 15,000 prizes totaling $50,000 in cash prizes including a $25,000 grand prize in every 4-week timeframe.
The prizes start at $0.20 and go all the way up to $25,000. Other prizes include:
Prizes are drawn at the end of the week.
PrizePool mixes all of the tickets together and randomly picks winners starting from the highest value prize to the lowest. Once a winner is chosen, the rest of that winner’s tickets are removed from the drawing because a winner can only win one prize each week.
How much does PrizePool cost to use?
PrizePool is completely free. There are no hidden fees, monthly fees, or transfer fees.
Is there a minimum balance for my PrizePool banking account?
There are no required minimum balances, service charges, and so on.
Is PrizePool safe? Is PrizePool FDIC insured?
Yes, PrizePool is safe and legitimate.
Your balance in your PrizePool banking account is protected and secured by their partner bank, Evolve Bank & Trust. Your balance is FDIC insured up to $250,000.
There is also bank-level security and encryption, so you know that your information is safe.
How do I sign up for PrizePool?
Signing up for PrizePool is easy. Here are the steps:
- You simply can sign up through Google Play or the App Store
- Use my PrizePool referral code EWD76 when you sign up for a 10% bonus on the prize money that you win
- You’ll be asked to create an account and answer questions such as your name, email address, and more
- You’ll then add your bank account and add money to your PrizePool savings account
It took me around 5 minutes to complete these steps.
How does PrizePool make money?
After reading all of the above, I’m sure you are interested in learning how PrizePool earns an income, and what’s in it for them.
As deposits grow, the yield that is earned through their partnership with the bank will pay for the prizes that they provide.
Is PrizePool worth it?
I hope you enjoyed this PrizePool review!
Yes, I think that PrizePool is worth trying out. I created an account myself as soon as I heard about it and I’m excited to see what I can win, all just by saving money like I normally would.
PrizePool can be a smarter way to save money compared to a traditional savings account. In addition to a savings bonus (aka interest) of 0.30% annualized (which is 7.5x higher than the national average), you have a chance of also winning meaningful cash prizes weekly. This can add up very quickly and earn you more than a high-yield savings account.
Since PrizePool is completely free, I think it’s a great way to start saving more money. The prizes can be substantial, and it is so easy to get PrizePool tickets.
Plus, the chance to easily win up to $25,000 each month without having to spend any money sounds like a no-brainer to me.
You can see more PrizePool app reviews on Google Play and on the App Store.
Please click here to learn more about PrizePool.
Do you have any questions you’d like me to answer in this PrizePool review?
I’ve never heard of anything like this before but sounds interesting to someone that may take advantage of it.
Michelle Schroeder-Gardner says
It’s pretty cool! I signed up myself recently.
Please keep me updated how it’s working out for you. 🙂
Michelle Schroeder-Gardner says
tracy Collins says
I have just signed up to PrizePool via Google Play and using your referral code EWD76 and I am glad you published this article on your website, because, if not, I wouldn’t have known about PrizePool. So Thanks a lot.