Chicagoland, Sept. 16, 2020 (GLOBE NEWSWIRE) — Billinero, a prize-linked savings account app, is pleased to announce that its next quarterly $10,000 drawing is being held on Sept. 30, 2020. The prize-linked digital savings account, powered by Centier Bank, is designed to motivate users to develop good saving habits by rewarding them with chances to earn cash prizes for each qualifying deposit.
The app makes opening a savings account quick and convenient, and users earn chances to win $1,000 in monthly drawings and $10,000 in quarterly drawings with every qualifying $25 deposit they make.
“Billinero launched one year ago, introducing the concept of a prize-linked savings account,” explained Chris Campbell, Billinero Executive Vice President. “We’ve awarded more than $50,000 in cash prizes to users across the country and changed people’s lives. We want to make saving fun and create an opportunity to reward savers in a way that is completely different than they are used to.”
Arin Scott of Mundelein, Ill., won Billinero’s $10,000 quarterly prize earlier this year. She said even though she began using Billinero solely for the chance to win cash, she was surprised to see her savings build up in a short time, which is why she is going to keep using the app.
“I kept saying it out loud—like a mantra—‘I’m going to win, I’m going to win!’” Scott explained. “And when I found out I won—I was floored. It could not have come at a better time, as someone in my family just lost their home in a devastating fire.”
Users can download the app from the App or Google Play stores and open their Billinero savings account in minutes. From there, every $25 qualifying deposit generates one entry into the $1,000 monthly drawing, and every three entries earned in a month generates an entry into the $10,000 quarterly drawing. Users can earn up to 36 entries for each drawing, all while simultaneously building their savings.
Paula Rankin of Valparaiso, Ind., won Billinero’s $10,000 quarterly prize last April. The frontline healthcare worker was in the thick of the coronavirus pandemic, unsure of how the economy would impact her family financially.
“This money came at the right time,” she said. “It’s serendipitous.”
Campbell said Billinero is similar to a lottery—without having to spend any of your own money in order to win.
“People are using Billinero to build up their savings, all while earning chances and increasing their odds of winning the monthly and quarterly drawings,” Campbell explained. “This is an FDIC-insured savings account sponsored by Centier Bank, a 125-year-old bank. We are looking to change the way people save and looking to change lives with each drawing.”
Users can sign up for their Billinero savings account on the mobile app or online. For more information about Billinero, go to billinero.com/.
Billinero™ is a mobile application that was launched in August 2019 by Centier Bank, an Indiana-based financial institution established in 1895. The digital-only, prize-linked savings account has a game-like approach, offering customers the opportunity to win cash prizes of $1,000 monthly and at least $10,000 quarterly while also increasing their financial savings. The application is currently available to users who reside in Arkansas, Connecticut, Illinois, Indiana, Kansas, Michigan, Minnesota, Missouri, Nebraska, Oregon, South Carolina, or Virginia. For more information on Billinero™, go to https://www.billinero.com. Member FDIC.