How to have qualified for the prize draws

To be entered into a prize draw, you had to increase your account balance by at least £50 (but by no more than £100) in each of the three calendar months leading up to the month of a prize draw.

For example, to have qualified for the prize draw in January 2022, you had to increase the total balance in your account by at least £50 (but by no more than £100) in October, November and December 2021.

The last Start to Save prize draw took place on 24 January 2022.

Note:

If you increased your balance by less than £50, or more than £100, in one or more of the three months leading up to a prize draw month, you wouldn't have been entered into the prize draw.

Taking money out

The account is instant access, so you can take money out. Although the prize draws have ended, you can keep saving into your Start to Save account until your 24-month fixed term ends.

To have qualified for a prize draw, you had to make sure your balance had grown by at least £50. So, any money you’d taken out, you had to pay back in during the same month to be entered.

This means that whatever you started with at the beginning of the month, you needed to end with on the last day of the month, plus an extra £50 (but no more than an extra £100).

For example, if you started the month with £300, you had to end it with at least £350 and no more than £400.

How the draw worked

Prize draw run-up months

Month 1 – increased your balance by at least £50 (but no more than £100)
Month 2 – increased your balance by at least £50 (but no more than £100)
Month 3 – increased your balance by at least £50 (but no more than £100)

If you withdrew money in any of these months, you had to pay some or all of it back in during the month you took it out (plus the £50 minimum increase). This was to make sure you’d grown your balance by £50 by the end of each month.

Prize draw month

Month 4 was prize draw month. It was also month 1 of the next draw.

Note:

Interest and any prize draw winnings added to your account wouldn’t have counted towards your minimum £50 balance increase.

Examples of when you would have and wouldn’t have been entered into the draw

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Examples of when you would and would not qualify for the prize draw
July 2021 prize draw October 2021 prize draw January 2022 prize draw
Qualifying months Apr May Jun Jul Aug Sep Oct Nov Dec
Starting balance £0 £50 £100 £150 £100 £50 £0 £50 £120
Money paid in £50 £50 £50 £50 £0 £0 £100 £70 £60
Money taken out £0 £0 £0 £100 £50 £50 £50 £0 £10
End balance £50 £100 £150 £100 £50 £0 £50 £120 £170
Change in balance +£50 +£50 +£50 -£50 -£50 -£50 +£50 +£70 +£50
Entered into the prize draw Yes No Yes
Why? Because the balance in the account has increased by at least £50 (and no more than £100) each month Because the balance has not increased by at least £50 (and no more than £100) each month Because, even though money was withdrawn, the account balance still increased by at least £50 (and no more than £100) each month

Prize draw dates

There were seven prize draws, which took place on:

  • 21 July 2020
  • 21 October 2020
  • 22 January 2021
  • 23 April 2021
  • 21 July 2021
  • 21 October 2021, and
  • 24 January 2022.

Your account had to remain open, and you had to be living in England, Wales or Scotland on the day of the prize draw to have qualified.

If you had opened your account with less than three months to go before the next prize draw, you would have only been able to enter the draw after that. This is because you needed to grow your balance in the three months leading up to a draw.

For example, if you opened your account in August 2021, you wouldn't have been in the draw on 21 October 2021.

Your chances of winning

The prize fund for each draw was equal to 1% of the total increase in balances of all the qualifying accounts for that draw.

The number of winners depended on how many £100 prizes could be made up from the prize fund for each draw. Depending on how big the prize fund was, your chance of winning was between 1/34 and 1/67.

We selected the winners at random from all accounts that qualified.

Each winner received £100. If your account was held as a joint account, the £100 winnings would have been for the benefit of both of you.

If you'd won

We let the winners know they'd won by email or post, and paid the £100 into their Start to Save account within 30 days of each draw.

To find out more, read the full Terms and Conditions.