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Everything You Need to Know About the Numbrs App ‘Payday’ Prize Draw

June 7, 2021 No Comments
Numbrs App Payday Prize Draw Phone Image

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This post breaks down everything you need to know about the Numbrs App ‘Payday’ prize draw.

Chances are, if you’re part of the debt-free, FI/RE or money blogging community on Instagram, you’ll have heard about the Numbrs app and their weekly prize draw (called ‘Payday’) which gives entrants the chance to win a share of €50,000. It seems to have sprung up out of nowhere, with just about everybody taking part over the last few weeks.

But what actually is the Numbrs App, and can we truly trust it with our details?

Are ‘normal’ people we see everyday on Instagram actually winning up to €10,000?

This post breaks down just about everything you need to know – and how to enter yourself.

What is the Numbrs App?

Numbrs is a smart-wallet that lets you connect your bank accounts, loyalty cards and crypto-wallets in an App, so you can keep an eye on your finances all in one place. With only one login, it’s a super easy way to keep track of all incomings and outgoings, without the faff of having to individually check each of your bank accounts regularly.

In addition, Numbrs uses AI technology to provide accurate insights into your current financial situation including whether you’re being paid a fair rate compared to peers in similar positions/industries, whether you’re paying too much on any loans you’ve taken out, and can notify you of any excessive upcoming fees to help you make more financially-savvy decisions.

What are the benefits of the Numbrs App?

In addition to the above being great benefits, I particularly liked The Finance Report feature, which keeps track of your income, your spending, can help you stick to your budget, and commit to regular savings contributions – all from the App.

You can set yourself savings goals which the App will track and update you on how close you are to reaching them, you can send money internationally, and my personal favourite: you can get a notification as soon as your pay check reaches your account.

Is the Numbrs App free to use?

No, and for me, this is the main downside. A lot of the features mentioned above are available with a free Monzo account, so I’m not personally entirely convinced. Sure, there are a few additional insights included using their world-leading AI technology, but only you can decide if you think the features are worth the following:

However, lets not get put off just yet – there’s a Payday prize draw to think about, after all (and that is free!)

What is the Payday prize draw?

Every Friday, the Numbrs app runs its weekly prize draw, called ‘Payday’, which gives raffle ticket holders the chance to win a share of €50,000. Prizes are divided up into €10k, €3k, €2k, €1k, €500, €200, €100, €60, €40, €20, €10 – with the smaller amounts having numerous winners each week.

Numbrs is a Swiss company, hence why the payments are in € – but it looks like they’ve got their eyes set on making a big splash in the UK (hence the weekly prize draw!)

How do you enter the Payday prize draw?

In order to enter the Payday prize draw, you need to have a raffle ticket. You earn raffle tickets by referring other users to the Numbrs app (not by being a paid subscriber to the Numbrs app).

The good thing is, you don’t have to be a paying app user to still earn raffle tickets – so once you’ve entered in your first week, and cancelled your free trial if you don’t want to continue paying for Numbrs’ services, you can still refer friends and family and earn entries into the following weeks’ draw.

Follow these simple steps to get your first raffle ticket into next Friday’s prize draw:

  1. Download the Numbrs app from wherever you get your apps (Apple App Store or Google Play Store) using my referral link here.
  2. Once the download is complete, you’ll need to create your account within the app. This is a super-simple process, but just to make you aware, they do require you to link one of your bank accounts to Numbrs before you’re eligible to use your free raffle ticket. I linked an old current account which I barely use anymore, but any would be fine.
  3. You’ll also need to agree to a free trial as part of the sign-up process. Opt for the two week free trial, but make sure you cancel this before the two weeks are up (you can cancel it on the same day you set it up as this won’t affect your entry).
  4. Once completed, you will receive your free raffle ticket in to the next week’s draw.

From the home screen on the app, you’ll see in the top right it says ‘PayDay’ – this is where you click to access the prize draw, and to see if your raffle ticket has arrived yet (as well as to check what you’ve won once the draw has taken place!)

You can then refer friends and family to the app using your referral link (just make sure to stress to them the importance of cancelling the free trial ASAP to save anyone getting stung unexpectedly!)

You can find your referral link within the PayDay section of the app, scrolling down until you find the ‘Share your link’ section. Send this to anyone you want to sign up, and you’ll both receive a raffle ticket for the next prize draw. The more people you sign up, the more raffle tickets you’ll have entered into the draw – and there’s no limit on how many people you sign up.

How do I know if I’ve won the Payday prize draw?

I’ve found the timings vary slightly, but each Friday (most typically around midday), the prize draw will take place. If you’ve won, you’ll be sent an email shortly afterwards and you’ll then need to log in to the app and visit the PayDay section to see just how much you’ve won.

How do I receive my Payday winnings?

Your winnings will be paid out to the bank account you linked up to your Numbrs account. They’ll also ask you to add your full address details into the app due to the requirements under the Money Laundering Act.

The payout times can vary – I received my first payout about five days after the draw, and my second payout the same day that the draw took place!

Are real people actually winning this?

Yes! In my first two weeks, I won a total of €50, which converted to roughly £42 – and that was only from referring four people.

Screengrab of my winnings from the Numbrs app prize draw

But that’s nothing compared to some of my favourite Instagram content creators. I’ve seen a couple win €4,000, and even seen two that I follow win €10,000 each!

Is the Numbrs app safe to use?

You’re right to question when it involves linking up a bank account and address details!

Numbrs uses Open Banking, just like any other finance app, meaning it’s a government regulated piece of software.

They also comply with GDPR regulations, and are committed to your security – “All your information is fully protected by the most advanced end-to-end encryption technologies.”

Final thoughts on the Numbrs App

Whilst I might not be rushing off to pay to use their services myself, I can see the appeal. In-depth insights and managing your finances all from one place sure is convenient, and can help guide your financial decisions – but for me, the real appeal is in the Payday prize draw, which can only be accessed through referring others to the App (and in turn, receiving a raffle ticket).

If you want to get your first ticket into next Friday’s draw, sign up here – and let me know if you win!

If you liked this, then you might like:

Twenty Ways to Make Money While You Sleep

How Much Did I Make with Matched Betting in 2020?

How to Make Money With Refer-a-Friend Schemes

50 Side Hustles You Can Start Today

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Steph at Funding Her Freedom

Steph

Funding Her Freedom shows you how to make more money, save more money, and become financially free. If you'd like to get in touch, shoot me an email on steph@fundingherfreedom.com. Looking forward to connecting! Read More

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