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PrizePool: Savings App

PrizePool: Savings App

PrizePool

New type of savings app. Save to win cash prizes totaling $50,000. FDIC Insured.

4.5 Ratings 2K+ Reviews 50K+ Downloads

Ratings & Reviews

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  • Prizepool is LEGIT and is a fun way to save money Jan 27, 2021

    By abbygailxoxo
    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! :)
  • Oct 2, 2021

    By Paul Whaley
    Fun way to start saving. Free with no fees or minimum balances and with the referral you can start earning without any money in! Great place to put emergency fund money or money saving up for vacations or big purchases, like a new car or engagement ring. If you sign up you will regret not using a referral code. I didn't use one and I now realize I left money on the table because you get 10% of your referrals winnings too! If you need one please use mine: XJVZN
  • Great Saving App! Nov 23, 2020

    By Cuautlev
    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.
  • Oct 19, 2021

    By Kyle Cotton
    Don't be skeptical! It seems weird to think of basically a lottery that you don't lose but I can confirm it works and they have great support. Your cash isn't available for withdrawal for five days after you deposit that so keep that in mind and I can confirm it's easy to withdrawal a few taps and a confirmation and you've got your money back it does take a few days to transfer depending on your bank/cu. If you want to save and also like to win money this is a pretty cool app.
  • Good idea but needs some work. Aug 7, 2021

    By S227227
    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?
  • Nov 21, 2021

    By jed rev
    Great app, I've won around $50 total so far over the span of 6 months. Way better than leaving money in a savings account. If interested, use my referral code: MEKGW. Referrals let's you gain 10% of my winnings (if I win) and vice-versa. Good luck!!!
  • Updated** Oct 20, 2020

    By bachelorsdeath
    Don’t get me wrong this is kind of awesome, especially if you have a referral that is a big influence. However if you ever change you bank account, you aren’t able to change your bank account within the app. Customer service said there is no way for you to do this yet. If last resort I need whatever money is put into my account, I can’t grab it until I can change my bank account in the app so I’m a bit worried there. But I’m hoping it is updated soon. **update - they were able to change my account.
  • Sep 1, 2021

    By My S8plus
    Great app. Easy to use. One of only two prize based savings accounts that I know of. I enjoy very much that the prize drawing system is different than The Other app's game, it makes it funner to play both that way.
  • 40% APR & Continuous Improvement May 30, 2021

    By lcohen8919
    I've been using PrizePool for over 6 months now, and it's great to see the continuous improvements that keep making the app better. It's fundamentally a lottery savings account where you have the chance to win a prize, but at the same time earn an APR better than most mainstream banks - all still FDIC insured. My current realized APR is over 40%! There is no reason to use a regular savings account over PrizePool for cash that you are not planning on using in the short term, but don't want to lock up at a brokerage.
  • Sep 2, 2021

    By RARD 27
    So far, so great. Have been using the app for a few months now and it has DEFINITELY made a huge difference on my APY as opposed to keeping my money in my savings account. Getting more and more excited with every improvement added.
  • Prizepool is LEGIT and is a fun way to save money Jan 27, 2021

    By abbygailxoxo
    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! :)
  • Oct 2, 2021

    By Paul Whaley
    Fun way to start saving. Free with no fees or minimum balances and with the referral you can start earning without any money in! Great place to put emergency fund money or money saving up for vacations or big purchases, like a new car or engagement ring. If you sign up you will regret not using a referral code. I didn't use one and I now realize I left money on the table because you get 10% of your referrals winnings too! If you need one please use mine: XJVZN
  • Great Saving App! Nov 23, 2020

    By Cuautlev
    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.
  • Oct 19, 2021

    By Kyle Cotton
    Don't be skeptical! It seems weird to think of basically a lottery that you don't lose but I can confirm it works and they have great support. Your cash isn't available for withdrawal for five days after you deposit that so keep that in mind and I can confirm it's easy to withdrawal a few taps and a confirmation and you've got your money back it does take a few days to transfer depending on your bank/cu. If you want to save and also like to win money this is a pretty cool app.
  • Good idea but needs some work. Aug 7, 2021

    By S227227
    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?
  • Nov 21, 2021

    By jed rev
    Great app, I've won around $50 total so far over the span of 6 months. Way better than leaving money in a savings account. If interested, use my referral code: MEKGW. Referrals let's you gain 10% of my winnings (if I win) and vice-versa. Good luck!!!
  • Updated** Oct 20, 2020

    By bachelorsdeath
    Don’t get me wrong this is kind of awesome, especially if you have a referral that is a big influence. However if you ever change you bank account, you aren’t able to change your bank account within the app. Customer service said there is no way for you to do this yet. If last resort I need whatever money is put into my account, I can’t grab it until I can change my bank account in the app so I’m a bit worried there. But I’m hoping it is updated soon. **update - they were able to change my account.
  • Sep 1, 2021

    By My S8plus
    Great app. Easy to use. One of only two prize based savings accounts that I know of. I enjoy very much that the prize drawing system is different than The Other app's game, it makes it funner to play both that way.
  • 40% APR & Continuous Improvement May 30, 2021

    By lcohen8919
    I've been using PrizePool for over 6 months now, and it's great to see the continuous improvements that keep making the app better. It's fundamentally a lottery savings account where you have the chance to win a prize, but at the same time earn an APR better than most mainstream banks - all still FDIC insured. My current realized APR is over 40%! There is no reason to use a regular savings account over PrizePool for cash that you are not planning on using in the short term, but don't want to lock up at a brokerage.
  • Sep 2, 2021

    By RARD 27
    So far, so great. Have been using the app for a few months now and it has DEFINITELY made a huge difference on my APY as opposed to keeping my money in my savings account. Getting more and more excited with every improvement added.
  • Mar 17, 2021

    By Stephen Luoma
    Basically a scheme to give interest of a huge pool of money to the highly invested. Looking at the rules and accumulation of "tickets" which is equivalent to dollars deposited. If you deposit 50$ you gain 50 tickets, then 50 tickets each day until the end of the week you reach 350 tickets. Compare that with someone who deposits 100,000 cash. That's 700,000 tickets by the drawing time. For those who have the FDIC insured 250,000$ limit, this would be great, but someone with 50$ makes a chump.
  • Something about this APP just isn’t right Nov 4, 2020

    By High_Price
    The month winners are not updated on the app. There is really no transparency when it comes to winning any of their advertised incentives . You don’t know who wins , you don’t know if it’s legit . It’s all based on perception and wanting you to believe you actually have a shot at $25k when in reality you won’t win & you won’t even get to see who won . Transparency is key when it comes to anything regarding cash prizes etc . Too many areas of uncertainty leads me to believe this just isn’t quite what it’s been advertised to be .
  • Total Scam Nov 2, 2020

    By anonymousa177272727
    Deposited money into the app and became a little skeptical of it after hearing about other similar “prize pool” apps being scams. I decided I wanted to withdraw my money, but the app wouldn’t let me due to a “bank restriction where you have to wait 4 days since your deposit to withdraw funds”. Well, I waited those days and it still doesn’t let me withdraw my money and the customer support is not helping me. YOUR MONEY ISN’T SAFE IN THIS APP DO NOT USE IT. I am filing a claim from my bank to try and get the money back and I hope it’s successful, but stay away from this.

No reviews available

No reviews available

  • Prizepool is LEGIT and is a fun way to save money Jan 27, 2021

    By abbygailxoxo
    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! :)
  • Oct 2, 2021

    By Paul Whaley
    Fun way to start saving. Free with no fees or minimum balances and with the referral you can start earning without any money in! Great place to put emergency fund money or money saving up for vacations or big purchases, like a new car or engagement ring. If you sign up you will regret not using a referral code. I didn't use one and I now realize I left money on the table because you get 10% of your referrals winnings too! If you need one please use mine: XJVZN
  • Great Saving App! Nov 23, 2020

    By Cuautlev
    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.
  • Oct 19, 2021

    By Kyle Cotton
    Don't be skeptical! It seems weird to think of basically a lottery that you don't lose but I can confirm it works and they have great support. Your cash isn't available for withdrawal for five days after you deposit that so keep that in mind and I can confirm it's easy to withdrawal a few taps and a confirmation and you've got your money back it does take a few days to transfer depending on your bank/cu. If you want to save and also like to win money this is a pretty cool app.
  • Nov 21, 2021

    By jed rev
    Great app, I've won around $50 total so far over the span of 6 months. Way better than leaving money in a savings account. If interested, use my referral code: MEKGW. Referrals let's you gain 10% of my winnings (if I win) and vice-versa. Good luck!!!
  • Updated** Oct 20, 2020

    By bachelorsdeath
    Don’t get me wrong this is kind of awesome, especially if you have a referral that is a big influence. However if you ever change you bank account, you aren’t able to change your bank account within the app. Customer service said there is no way for you to do this yet. If last resort I need whatever money is put into my account, I can’t grab it until I can change my bank account in the app so I’m a bit worried there. But I’m hoping it is updated soon. **update - they were able to change my account.
  • Sep 1, 2021

    By My S8plus
    Great app. Easy to use. One of only two prize based savings accounts that I know of. I enjoy very much that the prize drawing system is different than The Other app's game, it makes it funner to play both that way.
  • 40% APR & Continuous Improvement May 30, 2021

    By lcohen8919
    I've been using PrizePool for over 6 months now, and it's great to see the continuous improvements that keep making the app better. It's fundamentally a lottery savings account where you have the chance to win a prize, but at the same time earn an APR better than most mainstream banks - all still FDIC insured. My current realized APR is over 40%! There is no reason to use a regular savings account over PrizePool for cash that you are not planning on using in the short term, but don't want to lock up at a brokerage.
  • Sep 2, 2021

    By RARD 27
    So far, so great. Have been using the app for a few months now and it has DEFINITELY made a huge difference on my APY as opposed to keeping my money in my savings account. Getting more and more excited with every improvement added.
  • BEST SAVINGS ACCOUNT EVER!!! Jul 9, 2021

    By tune70
    PrizePool was recommended to me in a financial subscription I’ve had for several years. It sounded so awesome, getting the real chances to win so many of their cash prizes, so I linked my bank account! The 1st week, I won! It was $2.00, but that’s waaaay more than my big institutional bank gives me! Last week, I won another $2.00! I feel secure keeping money here because they’re a member of the FDIC. I can’t say anything bad about PrizePool-it’s legit! I read the founder & co-founder’s bios, & these guys are from Microsoft & Apple...so I know this is a solid company.
  • Good idea but needs some work. Aug 7, 2021

    By S227227
    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?
  • May 31, 2021

    By Bridget Campbell
    **Update** had the below issue and they've fixed it. Did not see referral code box. I would like to just close/ cancel the account and start over.
  • Whose Money Is It? Nov 20, 2021

    By LNelloms
    I was excited to try out PrizePool referred by AO! But all of it has changed. There hasn’t been any activity though I setup the recurring amount to every two weeks. Then I attempted to deposit money into my PrizePool account and received an error message “Deposit Not Allowed” and “Withdrawal Not Allowed.” I messaged a Chat personnel only to be told my account was suspended. What??? How are you able to withhold my money and without notice of suspension??! How can you suspend a Savings Account?? Thankfully the Chat personnel worked with me continuously until it was resolved. My account is now back to good standing!
  • Sep 2, 2020

    By Angel Hernandez
    After depositing the money and waiting the 3 days, the money has been taken out of my account but does not show up on the app. You can also accidentally deposit more money than you have because there is no second review screen before depositing. The only way to cancel a deposit at the moment is through customer support which could take about a 20 min response time.

No reviews available

  • Mar 17, 2021

    By Stephen Luoma
    Basically a scheme to give interest of a huge pool of money to the highly invested. Looking at the rules and accumulation of "tickets" which is equivalent to dollars deposited. If you deposit 50$ you gain 50 tickets, then 50 tickets each day until the end of the week you reach 350 tickets. Compare that with someone who deposits 100,000 cash. That's 700,000 tickets by the drawing time. For those who have the FDIC insured 250,000$ limit, this would be great, but someone with 50$ makes a chump.
  • Something about this APP just isn’t right Nov 4, 2020

    By High_Price
    The month winners are not updated on the app. There is really no transparency when it comes to winning any of their advertised incentives . You don’t know who wins , you don’t know if it’s legit . It’s all based on perception and wanting you to believe you actually have a shot at $25k when in reality you won’t win & you won’t even get to see who won . Transparency is key when it comes to anything regarding cash prizes etc . Too many areas of uncertainty leads me to believe this just isn’t quite what it’s been advertised to be .
  • Total Scam Nov 2, 2020

    By anonymousa177272727
    Deposited money into the app and became a little skeptical of it after hearing about other similar “prize pool” apps being scams. I decided I wanted to withdraw my money, but the app wouldn’t let me due to a “bank restriction where you have to wait 4 days since your deposit to withdraw funds”. Well, I waited those days and it still doesn’t let me withdraw my money and the customer support is not helping me. YOUR MONEY ISN’T SAFE IN THIS APP DO NOT USE IT. I am filing a claim from my bank to try and get the money back and I hope it’s successful, but stay away from this.

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PrizePool: Savings App

PrizePool: Savings App

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