How does Depoway make money?

We are in an advanced stage of setting up our first partnership with a UK bank, thanks to which we will be able to offer you FSCS insurance for your money. This also means that we will be able to generate revenue from the interest that we will get from our partner bank for holding your money with it.

The banks we aim to work with are typically younger banks who want to make saving easier and more rewarding for their customers. They are able to offer significantly better savings rates than you will find on the high street.

We will be using this interest to make our prizes even more attractive and to continue providing our services free of charge.

We also plan to introduce other revenue-generating products in the near future. This will make our prizes even bigger.

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The Depoway app is a free mobile app through which customers can win cash prizes by saving or spending at places they love.

The Depoway app is offered by Depoway Ltd. Depoway Ltd is a private company limited by shares incorporated in England and Wales with the company number 12820673. The registered office is at Office 300b, 182-184 High Street North, E6 2JA London, UK.

Depoway has been appointed as a distributor of electronic money on behalf of Modulr FS Limited. Modulr FS Limited is authorised by the Financial Conduct Authority as an Electronic Money Institution (FRN: 900573). Depoway is on the Financial Services Register with reference no. 902977. The Depoway app is not a bank savings account and doesn't pay interest. Depoway is registered with the Information Commissioners Office, with registration number: ZB008359.

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