What is the difference between the Depoway App and a bank savings account?

A traditional savings account offers you low interest and no other benefits. whereas a Depoway account lets you deposit money which then gives you the chance to win a jackpot prize every week as long as you keep your money in your Depoway account.

We believe that being in an all-time low interest rate environment where you get only £1 in interest for a £10,000 deposit with the biggest banks doesn’t make any sense. This lack of reward for saving was one of the many reasons we developed the Depoway app.

With the Depoway app you are rewarded for saving with the possibility to win attractive prizes.

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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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