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Walmart’s Prize Savings Sweepstakes Drives Customers to Save for a Rainy Day

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“Prize Savings” is the first national and first retail offered prize-linked savings (PLS) program. With this new offering, Walmart MoneyCard customers can now enter a monthly sweepstakes that awards hundreds of cash prizes just by saving up. It happens in three easy steps. czv1n_6veaa0511

Here’s how it works:

1 To play, users simply log into the Walmart MoneyCard app or website to transfer money from their Walmart MoneyCard balance into a separate MoneyCard Vault, a free savings feature within their account.

2 Each dollar a customer saves in their MoneyCard Vault equals one entry in that month’s national drawing.

3 The sweepstakes will award 500 cash prizes every month, including a $1,000 grand prize. Cash prizes are deposited directly to the winners’ Walmart MoneyCards.

Customers always come out on top – there is only an opportunity to win prizes. No money is ever lost for participating.

Walmart notes the Federal Reserve Board says nearly half of all U.S. families can’t cover a $400 emergency with their savings.

Prize Savings, which officially launched in August, has already made a difference. Since the launch, usage of the MoneyCard Vault is up more than 130%. MoneyCard Vault users are, on average, saving 35% more. Fifteen hundred customers have won cash prizes.

Consumers can learn more about the “Prize Savings” sweepstakes, including the Official Rules, and pick up a Walmart MoneyCard for just $1 at any Walmart store or at www.WalmartMoneyCard.com/PrizeSavings.

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