Our PrizeSaver account helps you to start saving from just £1
You get the chance to win up to £5,000 a month. There’s 21 prizes up for grabs each month, and you can get up to 200 entries in each draw.
The PrizeSaver is an instant access savings account with a monthly prize draw. The way it works is simple: every £1 in your account at the end of each month gives you one automatic entry into the following month’s prize draw, up to a maximum of 200 entries per draw .
There are 21 prizes up for grabs every month. One top prize of £5,000 and 20 smaller prizes of £20.
- 1% gross interest per annum
- You can make withdrawals at anytime
- Deposit up to a maximum of £50,000
- A maximum of 200 prize draw entries each month. £1 equals one entry
- Interest is calculated daily and paid annually
- The monthly prize draw is shared across 15 Credit Union’s across the country
- The monthly prize draws will end in April 2021
Note: The first draw will take place on the 16th December 2019.
Is my money protected?
Yes, just like high street banks and building societies, the money you deposit into your credit union account, up to £85,000, is protected under the Financial Services Compensation Scheme (FSCS).
What happens if I win one of the prizes?
We will contact you via email or phone to let you know. If you win the top prize of £5,000 we will ask you which account you want the prize paid to. If you win one of the smaller prizes, we will deposit the prize directly into your Clockwise account.
Can I withdraw money from my PrizeSaver account?
Yes, PrizeSaver is an instant access savings account. You can withdraw money at any time using our website, mobile app or by phoning us. You must keep at least £1 in your account to be entered into the monthly prize draw.
How can I deposit money into my PrizeSaver account?
You can pay cash or cheques directly into your account at one of our branches or community points. Payments can be made directly into your account via Faster Payment or you can set up a regular standing order from your bank account or have payments from wages or benefits paid directly into your account. We also have a number of employer partnerships enabling payroll membership where a regular amount is deducted from your wages/salary.
Are there any charges?
No, none at all.
How can I access my PrizeSaver?
You can access your account online, using our mobile app, by telephone or by visiting one of our branches or community points.
Can the interest rate change?
Yes, Clockwise may change the interest rate paid on PrizeSaver accounts from time to time. We will provide 30 days notices before any change.
Just like your high street banks and building societies, the money you deposit into your credit union account, up to £85,000, is protected under the Financial Services Compensation Scheme (FSCS). If you have a joint account you will be protected for £85,000 each.
FSCS protection is free to customers, so if anything happens to your bank, building society or credit union, and you cannot access your money, the FSCS will refund you up to the amount of £85,000.