
Sign up & start saving!
Get our weekly newsletter for the latest in money news, credit card offers + more ways to save
finder.com’s rating: 3.9 / 5.0
★★★★★
Billinero is a fee-free, prize-linked savings account that launched in August 2019. It gamifies your savings so that you can have fun while growing your nest egg at no risk. But the interest rate is 0.05% APY — a rate much lower than the competition. And you need to live in one of the 12 eligible states to open an account.0.05%
APY
$0
Fee
$0
Minimum deposit to open
Annual percentage yield (APY) | 0.05% |
---|---|
Fee | $0 |
Minimum deposit to open | $0 |
Minimum balance to earn interest | $0 |
Interest compounding | Quarterly |
Monthly transaction limit | 6 |
Review by
Michael Benninger is a staff banking writer at Finder. He is a former credit analyst and longtime freelancer whose articles have been published by Intuit, Business Insider and the Los Angeles Times. Michael is passionate about all facets of personal finance and has written hundreds of articles about money management during the past decade.
A Billinero account can make saving money a fun habit, and you don’t have to worry about paying any fees. But if you’re unlucky and never win a drawing, your money will grow much faster in a standard high-yield savings account. Plus, if you live outside of the 12 eligible states, you can’t open an account.
If you want an account with a higher interest rate or one that serves your area, shop around for an account with higher yields.
Here’s how to start saving with Billinero.
To be eligible for a Billinero savings account, you need to meet these requirements:
If you satisfy the eligibility criteria, you also need to provide the following information as part of your application:
If you’re thinking about opening a Billinero account, there are a few drawbacks to keep in mind.
You have few options when it comes to depositing and withdrawing funds from your Billinero savings account.
Currently, there are only two ways to deposit funds into your Billinero savings account:
You can only withdraw money from your account in two ways:
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top savings accounts and rate them one to five stars based on factors that are most important to you. These factors include: interest rates, monthly fees, minimum deposits, customer service and account features.