Beat bank rates with 5% growth on money committed to TUI
By HyperJar
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- TUI is the latest big-name to partner with money management app HyperJar
- Holiday makers who commit money to TUI in the app ahead of spending get a 4.8% annual growth rate, beating all leading current account and high street savings rates1
- Money committed to TUI via HyperJar must be spent with TUI, but there is no time constraint on spending
- HyperJar is a new, free app that helps people understand, plan and spend their money better
Holiday planning has always been a favourite British pastime. Long, happy hours spent dream-scrolling through idyllic destinations and turquoise pools before taking the plunge and booking.
Now UK holidaymakers who want more Portugal for their pound can get a 4.8% annual growth rate on money they commit to spend with TUI in future.
The country’s favourite travel brand has partnered with money management app HyperJar to offer a unique reward for customers who love to plan ahead. Money committed to TUI via the app attracts a 4.8% annual growth rate on every penny until it’s spent with TUI. From allocating ad hoc tenners in the months before paying in full, to putting in £10k now for a 2022 trip-of-a-lifetime to the Maldives.
Around 50% of TUI customers pay for their holidays from current accounts, where money typically earns zero interest. Even the highest rate savings accounts1 offer less than 1.5% annual interest.
HyperJar customer deposits – including money committed to TUI in the app - are kept in segregated accounts at the Bank of England until spent. The 4.8% annual growth rate applies for a maximum of 12 months.
“Millions of us have put holidays on hold and are dreaming big for 2022. HyperJar and TUI can now make that planning pay. It’s the perfect way to lock away money you don’t want to touch and grow your spending power at the same time. TUI customers can now beat inflation, beat the bank rates and get more holiday for their hard earned money,” said HyperJar founder and CEO Mat Megens.
A TUI spokesperson said: “We’re really excited to be sending customers on holiday safely again. Utilising this feature on HyperJar is a great way to save up for your dream trip and get a little extra on top at the same time. Customers can save for and book holidays up to the end of April 2023 now too, hopefully giving everyone something to look forward to.”
The HyperJar app comes with a prepaid debit Mastercard. There are zero transaction fees on spending abroad and HyperJar passes on Mastercard’s best exchange rate directly to its customers. Money in HyperJar can’t be withdrawn at ATMs in the UK or abroad.
About HyperJar: the only free-for-all-the-family account
HyperJar is now the only complete free-for-all-the-family budgeting and spending account, with apps and cards for adults and children aged 6+. Kids aged 16+ can smoothly migrate to an adult account, maintaining a record of their financial history.
It’s also the only money management app that lets you:
- Organise your money the way you think about, plan and spend it. Use virtual Jars to divide it by category, places, occasions and people (like holidays and holiday spending money).
- Share any Jar for saving up and spending with family and friends, instantly.
- Spend directly from any Jar.
- Beat bank rates and inflation by planning ahead with HyperJar partners, like TUI.
Why is HyperJar free?
HyperJar’s business model doesn’t rely on charging subscription or transfer fees. HyperJar is funded by its retail partners - including TUI, Shell, Dyson and Boden - who pay to feature in the app. If a customer sees a business that they know they will want to spend with in future, HyperJar benefits when the customer commits ahead of spending with that business.
HyperJar and its features are free to use for every customer, regardless of whether they interact with the partner retailers.
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