Frequently Asked Questions
Answers to common FAQ's
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Written by Suki
Updated over a week ago

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How do I get started?

Sign up here! Now that you have all the details on PrizePool, signing up is simple. Click the link to get started.

What's prize-linked savings and how does it work?

Prize-linked savings works like a drawing or a sweepstakes, where customers open a savings account and enter to win money ranging from less than a dollar to millions.

How does PrizePool offer prize-linked savings?

PrizePool is an account that combines and advances different banking models to guarantee 0.30% Savings Bonus* and weekly prizes that don't cost anything!

Where does 0.30% Savings Bonus* come from and how do I know my funds are safe?

We currently use venture capital funds to help reward our PrizePoolers. However, as the number of depositors increases, we intend to use the yield earned through our partner bank to help pay for the cash prizes or grow the pool. This sustainable and scaleable method of accruing interest is why PrizePool remains completely risk-free; no fees or minimum deposits. Your deposits are held and protected by our partner bank, Evolve Bank & Trust, Member FDIC.

What's on the roadmap for PrizePool?

We're always evaluating more ways to help you earn more from your hard earned money. We'll be constantly evolving our prizes and tiers by providing you more options to save and grow your funds so be on the outlook for more options coming soon!

*The Savings Bonus refers to monthly payments from PrizePool equal to a 0.30% annualized return based on the available balance of the account. The Savings Bonus is not bank interest, is not an annual percentage yield and is solely an obligation of PrizePool. Savings Bonus are a promotion and can be discontinued, restricted or modified at any time. No minimum balance is required to begin accruing rewards.

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