Monesave Weekly Points, Rewards and Give Away Rules
Rules for the random rewards to Monesavers
Effective of: 30 November 2023
There is NO PURCHASE OR PAYMENT required for the Monesave weekly rewards and giveaway. Neither Apple, Google or any of our Banking Partners are involved in this promotion or reward. This reward is from Monesave’s marketing budget and is designed to encourage our users to save & budget more frequently while also interacting with the Monesave App. By participating in the Rewards, each participant unconditionally accepts and agrees to comply with and abide by these Official Rules and the decisions of Monesave (the “Sponsor”), including the interpretation of these Official Rules and its exercise of discretion, which will be final and binding in all respects. The Rewards Description The Monesave points, rewards and giveaway (the “rewards”) takes place from 12:00:01 a.m. Pacific Time (“PT”) on Thursdays through to 11:59:59 p.m. PT on Wednesdays (the “Qualifying Period”). After the Qualifying Period has closed, the following Qualifying Periods will proceed while the previous week’s points are calculated and assessed for rewards. The Weekly Draw is at or around 6p.m. on the Thursday as scheduled time. And any winners are notified via the app. Users they may “accept” or “pass on” the rewards to random Monesave User “Monesaver”. A new rewards draw will run in each week after the first Competition unless the Competitions are discontinued by the Sponsor. The Sponsor makes no guarantee as to a minimum number of Competitions. In the event that the Sponsor chooses to discontinue the Rewards draw, this will be communicated to customers of the Monesave Account via email a week in advance of the start of the final Qualifying Period. By depositing money into your Monesave Account (your “Account”) you are opting into each subsequent Rewards Competition, provided you meet all the qualifying criteria in these rules. Top ups to your Account must be cleared before the end of a Competition’s Qualifying Period in order to be eligible (the “Eligibility Criteria”). Provided you meet the Eligibility Criteria (and have not opted out of the Rewards draw), you will automatically be entered into each rewards draw, subject to these Terms and Conditions. Your average balance for the Qualifying Period will be calculated using the sum of your daily deposit balances across the week and dividing that by the number of days in the month. Your number of entries will be calculated at the end of a Qualifying Period. For the purpose of calculation, the average top-ups is rounded up to the nearest 50. Decimal averages will be rounded up to the next whole number. And every 50 deposited on your account represents one ticket in the Rewards draw. Usage of various features on the app also allows users earn entries as follows:
A purchase will not increase your chance or winning. Monesave will never call you or request payment for the reward. All notifications will be via the App and any rewards will be
paid directly to the Monesave App User’s account at Monesave.
Number of entries in the Reward #
Joining or create savings group feature 1
Creating or updating a Budget feature 1
Creating or updating Monesave Junior tasks 1
Topping up Monesave Account (every $100)
Monesave customers are under no obligation to participate in a Competition. There is no cost to participate in a Rewards draw. There is no penalisation for not fulfilling the Eligibility Criteria, other than not being eligible to enter into the Rewards draw.
By depositing money into your Monesave Account via the app, you will be deemed to have accepted these Terms and Conditions and agreed to be bound by them.
Each Rewards draw is only open to Monesave customers, aged 18 years and over, who have an open Monesave Account within the Qualifying Period, who meet the Eligibility Criteria, and who are not in breach of these Terms and Conditions or any other terms and conditions applicable to their Monesave Account.
In entering a Competition, you confirm that you are eligible to do so. The Sponsor may require you to provide proof that you are eligible to enter and/or win any Competition.
The Sponsor shall have the sole decision on whether the Eligibility Criteria or any other eligibility requirements have or have not been met.
You can opt out of any or all Rewards draws at any time by contacting our Customer Success team via our in-app live chat or emailing us on support@monesave.com.
If you have opted out, you can opt back in at any time via the same methods. You acknowledge that if you opt out, you will no longer be eligible for entry into the Rewards draws.
If you don’t meet or stop meeting any of these criteria after entering any Rewards draws then you may be disqualified and any Rewards (as defined below) you may have won as a disqualified entrant will be forfeited. If you are awarded any Rewards (as defined above) while ineligible to enter the relevant competition, you will be required to pay such Rewards back to the Sponsor.
Rewards Selection and Notification
Any Rewards won as part of any Competition are tax-free in most countries and circumstances. The Winners will be responsible for any individual tax liabilities. The Sponsor is not able to provide tax advice, if you have questions about your tax status please seek independent tax advice
The Sponsor does not accept any responsibility whatsoever for any technical failure, regardless of cause, including, for example, equipment failure, network, server, computer hardware or software failure of any kind; which may restrict, delay or prevent the transmission or receipt of your entry or which may be regarded as spam or junk mail.
Winners Selection:
On each of the Drawing Dates, the potential rewards winners will be randomly selected from all eligible entries received in accordance with the deadlines indicated.
- For each Weekly reward draw Monesave will generate 5 random numbers between 1-100 and then 1 random number out of the remaining 95. These 6 random numbers will count as 1 entry to the rewards draw. There is no limit to the number of entries per user. Each entry has the following odds of being selected based on purely random number generation from an independent number generator
| Class | Monesave Rewards amount | Matching random generated entries per users | Odds entry selection |
|---|---|---|---|
|
Reward Class 1 |
100,000 USD* |
Matching 5 out of 1-100 and 1 out of remaining 95 |
7,152,314,400 |
|
Reward Class 2 |
50,000 USD* |
Matching 5 out of 1-100 |
76,088,451 |
|
Reward Class 3 |
25,000 USD* |
Matching 4 out of 1-100 and 1 out of remaining 95 |
15,057,504 |
|
Reward Class 4 |
1,000 USD* |
Matching 4 out of 1-100 |
160,186 |
|
Reward Class 5 |
15 USD* |
Matching 3 out of 1-100 and 1 out of remaining 95 |
160,186 |
- The Weekly Draws are operated by an independent third-party insurance company using random number generator technology.
- The Weekly Winners will be notified via push notifications on the app. (Permission is required to send push notifications to users. Push notifications is not a reliable mean of communication and that alone should not be relied upon as a way of receiving communication about winning numbers). You will also be able to accept any winnings on the notifications portion of the Monesave App.
- If you are selected for the reward, you may accept or pass it on to another random Monesaver.
- It is possible to have multiple winners for one or two classes. In these cases, the Reward will be split equally among the winning participants.
- All Rewards will be awarded as a one time deposit to the winner’s Monesave account (unless otherwise indicated herein).
All other terms and conditions of Monesave apply.
Reward Claiming
Rewards not claimed in accordance with these Official Rules specified above will not be awarded. All details and other restrictions of Rewards not specified in these Official Rules will be determined by Sponsor in its sole discretion.
Rewards not claimed in accordance with these Official Rules specified above will not be awarded. All details and other restrictions of Rewards not specified in these Official Rules will be determined by Sponsor in its sole discretion.
Publicity Release
Winners irrevocably grant the Sponsor and any of its designees, licensees, successors, assigns and sub-licensees the right and permission to use winner’s name, photograph, likeness, voice, biographical information, statements for advertising, promotional and/or publicity purposes worldwide and in all forms of media now known or hereafter developed, in perpetuity, without further compensation, unless prohibited by law.
Winners irrevocably grant the Sponsor and any of its designees, licensees, successors, assigns and sub-licensees the right and permission to use winner’s name, photograph, likeness, voice, biographical information, statements for advertising, promotional and/or publicity purposes worldwide and in all forms of media now known or hereafter developed, in perpetuity, without further compensation, unless prohibited by law.
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