Now it's worth pointing out that I'm not someone happy to write about or promote gambling. I decided to steer clear of potential money-making schemes that rely on luck, mainly because, in my experience, it usually ends up that you will lose money, and often money you simply can't afford to lose, but in this case of Everup, I'm going to make an exception, because it's impossible to lose actual money!
So what is Everup?
Nope, it's not a little blue pill; this is a banking app with a difference; it's a prize based savings app!
So what is a prize based savings app, you may ask, and I had to investigate it when I heard of it, as other than Premium Bonds, I hadn't come across any other prize-based savings system, and there was a good reason for that... It's the UK first!
When it comes to saving money, UK households perform poorly. According to the Office of National Statistics (ONS), in 2019, the household savings ratio stood at just 5.9%, meaning that for every £100 earned, only £5.90 was put into savings. This is half of what it was throughout the 1980s and 90s, even though UK consumers today need to save more than ever before!
Here's how it works. You, as a saver, use the app as a savings account. It's not a bank current account; it's set up as a way to save money, pure and simple. EverUp customers earn virtual coins based on how much they are saving – the more they save, the more coins they earn. They also earn coins as they perform other in-app actions, such as signing up, opening an account, signing in, levelling up and inviting friends to join. The virtual coins can then be used to play EverUp’s suite of games and lotteries, which offer customers the chance to win daily tax-free cash prizes. EverUp offers an entirely risk-free way to save and win prizes, as customers can never lose any of the money they have saved.
Savers can win up to £1million in the apps FREE weekly lottery game guaranteed daily cash and gadget prizes in its raffle and point earning mini scratch off and roulette type games.
The more savings you have, the more points you are awarded, and the more opportunities you get to play for the £1million jackpot and earn cash bonuses and prizes on the daily games.
The good news is that even if you don't have money to save (I feel you there), you don't have to save loads of money; in fact, you don't have to add any money at all, and more of this in a moment.
Many people using the app to save find that the cash prizes they win smash the amount of money they would have received in interest in a conventional savings app and get the buzz of a risk-free daily gamble on upping their savings even further for free!
You send and withdraw cash to the app via bacs, so set up the supplied bank account and sort code on your regular current account, and the cash normally hits your account within seconds, so it's super fast to send/receive your money.
You can also buy gift cards for leading retailers direct from your Everup app and will get cashback on your purchase. However, it's fair to say that you would get better cashback rates buying your gift cards through Karma Cashback, Quidco or TopCashback, but it's still quick and convenient to use the Everup app.
A new debit card feature is planned for a later date, allowing you to use your Everup account to make everyday purchases from retailers, with details of this to be announced shortly.
As it's a savings app, you will be asked to provide your personal details, and upload a photo ID, as they are obligated to perform anti-money laundering checks, however, your credit score will not be affected, BUT you can simply sign up with your name and email address, and have a look around and decide if you like what you see!
If you want to play the games for free, you can also do this. You get one free entry for each daily raffle, one free spin per day, and one free entry for the weekly lotto; if you win any cash prizes, you'll then need to go ahead, verify your identity and complete your account setup to be able to withdraw it, which is fair enough!
If you want to give the app a whirl, you can earn 500K of coins to get you started using our referral link HERE. If you do the win the £1million prize, we would like a new car, please 😜