United States
activeFeaturedNeobankBroker
- HQ
- San Francisco
- Fee
- $0 on Checking and Savings
Prizepool
US prize-linked savings fintech. The raffle ended.
Closed 2024-05
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5.2Caution
AlternativesFive questions
At a glance
Is it a bank?
No. Prizepool is not a licensed bank. Confirm who the money sits with before you send salary there.
If it fails?
Was FDIC via partner
Salary?
Not listed. An IBAN or sort code is not automatically a salary account.
Open from abroad?
Residency and KYC are gated. An App Store listing is not proof you can onboard.
Monthly fee
—
Account number
No IBAN-class local rail on this file.
NeoBankDB Verdict
Licence first · score second
5.2
/10 · Caution
A raffle is not an APY strategy.
What it is
Prizepool gamified US savings with prize-linked mechanics. It closed. SoFi’s APY is the boring product that stayed.
Best for: Graveyard — gamified savings.
Last checked 2026-08-01. Not advice.
Closed 2024-05
Product shut; prize-linked savings did not become a bank.
What it does well
- +Novel mechanic
What to watch
- −Closed
Who holds the money
The account
How money actually moves
- Who holds the cash
- Insured bank deposit
- How money moves
- ACH / USD
- Built for
- Personal
- Settlement
- App-ledger instant; bank rails per corridor
- Freeze risk
- Closed — no new customers
- Card
- Prizepool lists a physical card on visa, plus Apple Pay and Google Pay. Confirm the live product in the app — a card is not a current account.
Licence first
Safety
Was FDIC via partner
- Partner bankBaaS · United States
Fees
- Monthly
- —
- FX markup
- —
- ATM
- —
Features
- –IBAN
- –Fee-free core
- –Multi-currency
- ✓Apple Pay
- ✓Google Pay
- –Virtual card
- ✓Physical card
- –Metal card
- –Crypto
- –Stocks
- –Business
- –Kids
- –Halal
- Prize-linked savings
Score
- Safety25%
- 5.0
- Fees20%
- 6.0
- Features15%
- 6.0
- App15%
- 7.0
- Global15%
- 2.0
- Support10%
- 5.0
Change log
Full logNo dated notes yet. When the licence, fees, or status moves, it lands here.
Available in
Straight answers
FAQ
01Is Prizepool a bank?
Prizepool is filed as BaaS. The named regulator is Partner bank. Still read the entity on the statement before you send money.
02What happens to money in Prizepool if it fails?
Prizepool is closed. FDIC, if it applied, sat at a partner bank, not the raffle brand.
03What does Prizepool charge each month?
The monthly fee on this file is —. Fees change — open the operator's pricing page if it is linked.
Ratings and reviews
No published user reviews yet. The NeoBankDB score still comes from licence, fees, and the product — not from an empty star average.
Alternatives
activeFeaturedNeobank
- HQ
- San Francisco
- Fee
- Free
activeNeobankBroker
- HQ
- Gland
- Fee
- No fees whenever possible — live list on yuh.com/en/pricing