Chicagoland, July 13, 2020 (GLOBE NEWSWIRE) -- Billinero, an app-based savings account, was recently launched to motivate Americans to develop good savings habits because it includes an added incentive of winning cash prizes. The app, which makes saving quick and convenient, has awarded $51,000 to its users since launching last summer.
“We’ve presented checks to a healthcare worker, a frontline healthcare worker, a U.S. Marine Veteran, a newlywed couple who never got to take a honeymoon, and small business owners, to name a few,” explained Chris Campbell, Executive Vice President of Billinero. “It’s been rewarding to see people’s lives change as a result of using their Billinero accounts to save for the chance to win cash prizes.”
In addition to its winners, Billinero has also helped many Americans build a nest egg they may not have had otherwise, by enticing them to save for the chance to win cash. Joe Rado, Billinero's most recent $10,000 winner, said he began using Billinero as a savings account for his 5-year-old son.
“I’m saving around $100 a month for my son’s future and I’m not even missing it,” Rado explained. “By saving $25 a week—the equivalent of one or two lunches or a to-go cup of coffee—I’ll be able to save about $1,300 a year. I’m slowly building a savings account and earning chances to win cash.”
The app, powered by Centier Bank, an FDIC-insured financial institution in the Midwest, was designed with the idea that a little bit of savings can add up quickly. But, unlike traditional savings accounts, Billinero awards $1,000 and at least $10,000 in monthly and quarterly drawings, respectively.
Billinero users earn a chance to win cash with each qualifying deposit into their Billinero account which creates an entry into the cash drawings.
“Users are seeing how quickly small deposits add up—saving upwards of hundreds of dollars in a given month by creating the habit of saving,” Campbell said. “Much like lifestyle apps that help you lose weight or stay active, Billinero is designed to help users hit their financial goals.”
Billinero’s next $1,000 monthly drawing is happening on Aug. 1, 2020, and its next quarterly drawing of at least $10,000 is happening on Oct. 1, 2020. Users can start making qualifying deposits into their accounts as soon as the account is open in order to gain entries into the drawings.
For more information about Billinero, including Official Rules, go to billinero.com/.
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About Billinero™
Billinero™ is a mobile application that was launched in August 2019 by Centier Bank. The digital-only, prize-linked savings account has a game-like approach, offering savings account customers the opportunity to win cash prizes of $1,000 monthly and at least $10,000 quarterly at no fee 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™, including Official Rules, go to billinero.com. Member FDIC.
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