mo4ch:>Regular savers tempted with cash prizes

Regular savers tempted with cash prizesBy Simon ReadPersonal finance reporter 18 February 2020 Image copyrightGetty ImagesWhat do you want in a savings account? Security? Ease of access? Interest rate? Or the chance of a cash prize?More financial institutions are flocking to prize draws to encourage savers.On Tuesday, the Nationwide building society launches a scheme offering customers the chance of a £100 reward for stashing cash away every month.That's been the rationale behind Premium Bonds - which actually pay no interest - for more than six decades.And last October, the Treasury set up a pilot scheme with a number of credit unions to offer savers the chance to win £5,000. Helping people get the savings habit"Millions of people are struggling financially and as a building society, we are looking at how we can help them become financially stable," said Tom Riley, Nationwide's director of savings.The answer, the mutual reckons, is to gamify the savings habit by handin…