Halifax’s Savers Prize Draw was launched in 2011. Each month, there are three prizes of £100,000, 100 prizes of £1,000 and 1,500 prizes of £100.
To qualify for the draw, savers need to hold a minimum of £5,000 in a qualifying account for a month, and be registered to take part. They also need to be aged 18 or above and live in England, Wales or Scotland.
Halifax customers were told the draw would be closing via a letter, signed by Halifax’s savings director Simon Caddick, which was sent out via the bank’s app.
The letter said: “Our Savers Prize Draw is coming to an end. Before it closes, you’ll automatically be entered into the remaining prize draws if you qualify. We’ll let winners know within one month of the draw taking place, so it’s a good idea to make sure your contact details are up to date.”
Alternative prize draws for savers
Other accounts that include a prize draw include Family Building Society’s Windfall Bond, which has a jackpot of £50,000, prizes of £10,000 and £1,000, and multiple prizes of £500 and £100.
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Chip’s Prize Savings Account doesn’t pay any interest, but multiple monthly cash prizes are on offer. A single prize of £10,000, more than 2,500 prizes of £10 and more than 8,000 prizes of £5 are up for grabs each month.
Another option for savers who want to be in with a chance of winning some cash are Premium Bonds, with a monthly £1m jackpot for two lucky winners.
