How the prize draws work

Note:

The Start to Save Issue 2 savings account is no longer available for new account openings.

  1. Entering you into the draw

    You'll need to increase your account balance by at least £25 (but by no more than £50) in each of the 6 calendar months leading up to the month of a prize draw.

    For example, to qualify for the prize draw on 20 February 2024, you'd need to increase the total balance in your account by at least £25 (but by no more than £50) in:

    • August 2023
    • September 2023
    • October 2023
    • November 2023
    • December 2023, and
    • January 2024.

    You won't be entered into the prize draw if you increase your balance by less than £25, or more than £50, in one or more of the 6 months leading up to a prize draw.

    Any interest and prize draw winnings added to your account will not count towards your minimum £25 balance increase. Remember, you'll need to pay into the account within the first 28 days or we'll close it.

    When the draws take place

    There is one remaining prize draw that takes place on 20 February 2024. The previous prize draw took place on 22 August 2023.

  2. If you win

    We'll let you know you've won by email or post. We'll pay the £250 into your Start to Save Issue 2 account within 30 days of the draw. This means your account will still need to be open for us to pay into.

    Remember, if you do win, the prize draw money won't count towards your minimum balance increase for the final prize draw. You'll still need to pay in between £25 and £50 in each of the 6 months leading up to the final prize draw, including the month you receive your winnings.

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

To qualify for the prize draws:

  • You'll need to increase your account balance by at least £25 (but by no more than £50) in each of the 6 calendar months leading up to the month of a prize draw.
  • Your account must be open, and you must be living in the UK, on the day of the prize draw.

Helping you save

To make sure you never forget to top up your Start to Save Issue 2 account each month, you could set up a standing order from your current account.

Our Banking app also offers tools such as Impulse Saver and Round-ups to help you top up your Start to Save Issue 2 account throughout the month.

Just take care that you don't top it up by more than £50 a month if you'd like to qualify for the prize draws.


Taking money out

The account is instant access, so you can take money out.

But, as the aim is to grow your balance, you may need to pay it back in during the same month. This is to make sure your balance has grown by at least £25, so that you'll be entered into a prize draw.

This means that whatever you start with at the beginning of the month, you need to end with on the last day of the month, plus an extra £25 (but no more than an extra £50).

For example, if you start the month with £150, you'll need to end it with at least £175 and no more than £200.

Your chances of winning

The prize fund for each draw is equal to 2.5% of the total increase in balances of all the qualifying accounts for that draw.

The number of winners will depend on how many £250 prizes can be made up from the prize fund for each draw. Depending on how big the prize fund is, your chance of winning is between 1 in 34 and 1 in 67.

We'll select the winners at random from all accounts that qualify.

Each winner will receive £250. If your account is held as a joint account, the £250 winnings will be for the benefit of both of you.


Protecting your money

The Financial Services Compensation Scheme (opens in a new window) (FSCS) is a free, independent service that protects up to £85,000 of your eligible money at Nationwide.