A NEW bank account is offering savers the chance to win up to £5,000 towards their essential household bills.
The Co-operative Bank’s prize draw will give new and existing customers the chance to win back the cost of their mortgage, rent, council tax or energy bills from Wednesday.
Up to ten customers a month will be chosen to win back the cost of their eligible household bills paid from their Co-operative Bank current account.
The draw will be open to all Co-operative Bank and smile current account customers, including Cashminder account holders.
To be eligible you need to pay at least one qualifying household bill by direct debit from this account.
These include mortgage payments, rent payments, gas charges, electricity charges, council tax payments, water charges or wastewater charges.
Rent payments that are made by standing order will also be included in the prize total.
The draws will happen on the last day of the month and the winners will be emailed within two months of the draw.
They need to respond within a year to claim their prize.
There is one entry per customer and if you’re a winner with more than one eligible account including joint accounts, the bills will be paid back on the account with the highest direct debit total.
The draw is designed to reward customers who use The Co-operative Bank for their everyday banking and use their current account to manage their essential spending.
Kat Robinson, head of family and everyday banking at The Co-operative Bank, said: “We know the cost of everyday life continues to add up, with household bills taking a sizeable chunk out of people’s monthly budgets.
“We wanted to do something that could make a real difference and give customers the chance to get some of that money back.”
Which other prize accounts are worth considering?
Coventry Building Society is also offering a monthly prize draw, where you can win up to £5,000.
The Sunny Day Saver 3 is a regular savings account that lasts for 12 months.
You can save up to £150 each month and earn a competitive rate of 5%.
The account also gives savers the chance to win a prize in a monthly draw.
You need to add at least £10 to the account each month to be entered into the draw.
There are ten cash prizes worth up to £500 each month.
One lucky winner will get £500, three people will get £200 and there’s another six prizes worth £50.
If you pay into the account for all 11 months, you’ll be entered into a bonus draw to win a top prize of up to £5,000.
But you will need to be quick as it is not clear when the prize draw will end.
Santander also has a prize draw which gives you the chance to win a share of £100,000 a month.
Over 350 customers a month will win a prize, while one lucky winner will scoop up £250,000 in December.
To be entered into the draw you need to have a Santander personal current account.
You will get one entry into the draw for each of the following: having at least £100 in your current account at the end of the month, having a balance of at least £100 in your savings account and using a Santander credit card at least once a month.
Meanwhile, Halifax has a monthly £2,026 payday prize draw.
To enter you need to have a Halifax personal current account and have £1,000 or more paid into your personal current account as a salary, pension or benefit each month.
To enter you need to log into the app or online banking, search for My Extras in the app or Cashback Extras in online banking then opt into the offer every month.