£50k end of tax year prize draw FAQs

Everything you need to know about our end of tax year prize draw

 

How does the prize draw work?

We’re offering up to £50,000 in cash prizes, which includes a grand prize of £30,000 for one lucky customer! To enter, you’ll need to deposit a minimum of £100 into a Cash ISA, Stocks & Shares ISA, one of our LISAs, or a Personal Pension by 3pm on 5th April 2024.

For every £100 you deposit, you’ll gain one entry into the draw. So, as an example, if you were to deposit £2,000, this would earn you 20 entries! You can keep track of your entries directly within the app, under Settings > Promotions. (Please note that you’ll need to be on the latest app version to see this).

You can deposit through any method you like, such as instant bank transfers, our weekly collection cycle, moving money from one of our cash savings accounts (Simple Saver, Notice Accounts, or Reward Savings Account) into one of the above accounts, gifted deposits (for Cash LISA only), or transferring in an ISA or LISA from another provider. Please note that pension transfers do not count towards this prize draw.

T&Cs apply, which you can find on our website or by tapping the button below.

 

What if I maxed out my deposits prior to the prize draw starting, or during the offer window?

For any customers who have maxed out their allowance(s) prior to the draw or during the offer window, we’ll automatically assign entries through the following structure:

If you max out your Lifetime ISA or ISA allowance during the prize draw, we’ll automatically give you full entries too. If you make a withdrawal from a maxed out ISA or Lifetime ISA (other than for the purpose of a property purchase) prior to 3pm on 5 April then you will no longer receive these entries.

 

What if I make a withdrawal? 

If you make a withdrawal from a qualifying account (other than from a Lifetime ISA for the purpose of a property purchase) prior to 3pm on 5 April then your withdrawals will be deducted from your entries. For example, if you were to deposit £2,000 into a Cash ISA and withdraw £950 from your Stocks & Shares ISA, you would have 10 entries into the draw.

 

Can I keep track of my entries in the app? 

Yes! If you’re on our latest app version, you can view your current number of entries by heading to Settings > Promotions, or by tapping the button below. 

 

Track entries

 

Your number of entries will update automatically once your deposit(s) and any withdrawals have been added to your account balance. If you choose to add money through our weekly collection cycle, this typically occurs by the end of the next working day after the funds leave your bank account, normally the Tuesday after collection.

 

Will my transfer complete in time to count?

If you’re transferring an ISA or Lifetime ISA into Moneybox from another provider, we’ll need to receive the funds from your existing provider before the offer window closes at 3pm on 5th April 2024. 

It’s worth noting that transfers can take up to 30 days to complete, and so we aren’t able to guarantee that your existing provider will send the funds before this date, however we’ll do the best we can to ensure there are no delays to your transfer. 

Please note that the last opportunity to submit an ISA to Lifetime ISA transfer request for the 2023/24 tax year will be 5pm on 8th March. After this point, ISA to Lifetime ISA transfers will be unavailable in the app until the new tax year begins.

If you max out your Lifetime ISA or ISA allowance during the prize draw, we’ll automatically give you full entries too. 

 

When will you select the winners?

We’ll randomly select our eight winners on the 19th April 2024, and they will be notified via email. If you are selected, we’d just need you to confirm that we hold the correct bank details for you within 5 working days of receiving this email. 

If you don’t hear from us on 19th April, this would mean that you weren’t selected this time round, however we do run offers throughout the year so keep an eye out for future promotions! If the selected winner doesn’t respond within the given timeframe, a new winner will be selected on 29th April.

 

A 25% government penalty applies if you withdraw money from a Lifetime ISA for any reason other than buying your first home (up to £450,000) or for retirement, and you may get back less than you paid into your Lifetime ISA. For Stocks and Shares LISA, capital at risk.

Cash ISA interest is accrued daily and paid yearly. The rate is variable and subject to in-app conditions. We’ll inform you if it changes.

All investing should be long term (min. 5 years). The value of your investments can go up and down, and you may get back less than you invest.

As with all investing, the value of your Pension can go up and down, and you may get back less than you invest.