Set and Save Challenge
FREQUENTLY ASKED QUESTIONS
What is the Set and Save Challenge?
The Set and Save Challenge is to support you cultivating better savings habits and to reach your savings goals sooner. During the challenge, we will match one participant’s recurring payment each week by up to a maximum of $500, once off and will be transferred into your Blossom account.
When does the challenge start and finish?
The challenge starts on the 10th July 2023 and ends on the 1st October 2023.
How do I enter the Set and Save Challenge?
To enter, simply schedule a recurring payment to invest in Blossom Fund through the Blossom app within the week. To do this, open your Blossom app and go to Transfers > Add Funds > Input an amount > Choose Direct Debit > Select a frequency (daily, weekly, fortnightly, monthly). Any existing recurring payments you have set up will be counted as an entry into the challenge.
How much can I potentially win?
Each week, one individual will have their recurring payment matched by BlossomApp, up to a maximum of $500 once off and will be transferred into your Blossom account.
Can I participate if I have my recurring payment set to monthly?
Yes. If you have a monthly recurring payment, you'll be considered in the challenge each week your recurring monthly payment is made.
Do round ups or one-time payments count as participation in the challenge?
No, only recurring payments are eligible.
How many opportunities do I have per week?
You can have a maximum of 7 opportunities per week by setting a daily recurring payment (each payment counts as 1 opportunity).Weekly recurring payments count as 1 opportunity per week. Monthly recurring payments count as 1 opportunity during the week the payment is scheduled to be made. Check your financial institution for any limits on the number or size of payments (e.g., per month or quarter) and whether there are any fees or charges before setting a schedule suitable to you.
When does a challenge week begin and end?
Each challenge week begins Monday, 12:00 AM AEST, and ends Sunday, 11:59 PM AEST. With winners announced on the following Wednesday.
How will I know if I win the challenge for that week?
Each week, the Blossom team will contact the lucky customer via email!
If I win the challenge, how long will it take to receive my boost?
After you have been notified, it will take up to 2 business days for your payment to be transferred into your Blossom account.