Saving feels good! Winning feels great! Well, you can now do both with PrizeSaver, the credit union savings account with a chance to win £5,000 every month.
Penny Post is pleased to join other credit unions across the UK to offer members the chance to win monthly cash prizes with PrizeSaver. Every £1 in your PrizeSaver account, up to £200, enters you into the monthly prize draw to win £5,000! (£1 is equivalent to 1 entry)
There are 21 prizes to win every month, with a main prize of £5,000, and twenty smaller prizes of no less than £20!
The PrizeSaver account is available for members over the age of 18 and residing in England, Scotland, or Wales.
How to open a PrizeSaver Account
It’s quick & easy to open a PrizeSaver Account using Nivo. Alternatively, download the Application Form below, complete & return to Penny Post, or contact our Customer Service Team who will post a form to you.
You can open your PrizeSaver with as little as £1 by transferring funds from an existing Penny Post account.
You get up to 200 entries (£1 is equivalent to 1 entry) into the PrizeSaver draw each month
Benefits of a PrizeSaver Account
Chance to win £5,000 every month!
Withdraw funds whenever you wish – £1 minimum balance required to be entered into the monthly draws
Savings earn an annual dividend*
Manage your PrizeSaver account online
*Dividends are not guaranteed. The rate payable is dependent on financial performance and voted on by members at the Annual General Meeting.
Things you should know
The PrizeSaver Account runs alongside a member’s Regular Savings Account and does not replace it.
You can only transfer funds to your PrizeSaver from an existing Penny Post account
You can have a maximum of 200 entries (£1 is equivalent to 1 entry) into the draw each month. This maximum amount applies regardless of whether you have more than £200 in your PrizeSaver Account
The prize draws take place between 15th – 19th of each month. Winners will be notified within 3 working days and the prize money will be credited to your Penny Post Regular Savings Account.
Like all Penny Post saving accounts, members’ money is protected by the Financial Services Compensation Scheme (FSCS) currently to the value of £85,000. For more information visit the FSCS website.
Terms & Conditions
Open to members over the age of 18 and residing in England, Scotland, or Wales.
Members must continue to save at least £2 weekly or £10 monthly in their Regular Shares account whilst saving in a PrizeSaver Account.
You can only transfer funds to your PrizeSaver from an existing Penny Post account.
You may only have one PrizeSaver account. If you open more than one PrizeSaver account or attempt to do so, you may be disqualified from entering into any prize draws.
Savings in the PrizeSaver Account cannot be used as security against a loan.
Effective from 1st March 2021, member deposits are restricted to a total of £1,000 per month across all Penny Post accounts.
The total balance in all your Penny Post saving accounts cannot exceed £50,000.
To open a PrizeSaver account in addition to your other Penny Post saving accounts please download the Application Form below, complete & return to Penny Post, or contact our Customer Service Team who will post a form to you.
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