Our vision is to enable our users reach their big moments in life, without compromising on the lighter moments that matter.

Think of this as a game, yes a real one. You set goals, subscribe to the bigmo monthly competition by paying an entry fee. Every time you achieve your monthly goals, you win rewards. It’s as simple as that. Think of bigmo as a coach that helps you to win these competitions but more importantly fulfil your goals. So you might be wondering what are goals- it could be any of your life goals like buying a house, a car or planning a far away trip! As with any game there are winners and some losers but with bigmo most people are better off in some way.

You are right, this is new but the concept is known to have worked in other industries. Think traffic regulation and congestion charges- A system of costs has always proved to be successful in large scale when there is a risk of losing self control. bigmo has some influences from these systems but has also introduced a system of rewards. bigmo is centred on a system of rewards and consequences and backed by research proven in the field of behavioural economics and game mechanics. So we believe this would help you better your finances, and at the same time make the journey exciting and rewarding.

Losing or increasing your savings is entirely within your control. Your savings will be within your existing accounts held within your existing financial institution- we don’t move any money out. bigmo just has access to your account and transaction information and can’t perform any payment or transfer transactions on your accounts or savings.

Yes- You can now take up a free challenge for the first month to get a feel for bigmo and win an assured prize of £50 and £20 for participation. However from month 2 onwards you’ll need to pay to participate in the challenge as that is when the competition is more effective for you to fulfil your goals.

For some reasons you decide it’s not working you can opt out of bigmo anytime after the first month.You will just need to give us 10 days notice, prior to the start of the next cycle. You will be not charged for the subsequent months if you opt-out.

Yes, that could be one of the main reason for someone to enter the challenge. To get a clear view of the prize money refer here. If you are at least 90% of your monthly saving targets, you will be eligible for a prize draw at the end of the month. 1 in 5 of the eligible users would get ‘Get Big’ cash rewards. These rewards are big and could be enough to meet your groceries for a month. 4 in 5 of the eligible winners will at least get their entry fee back. So if you are financially disciplined, you use bigmo for free.

To get a clear view of the prize money refer here.

In short yes, it is possible to lose some or all of your entry fee. However, you only lose your entry free if you are less than 90% of your saving goals target(over spent by more than 10% for that month) you had set for yourself, for a month. Secondly, you only lose the entire fee if you are under 30% of your monthly saving goals target(overspent by more than 70% for that month) you had set for yourself. Between 90-30% you get some part of your money back as rewards, as you have still shown some push towards reaching your goals. Now hey, even if you have lost some part of your entry fee, you are still likely to have been better off compared to where you were before using bigmo, as a result of partly achieving your ambitious but achievable goals. Think Big. Think bigmo

You could change your goals and targets, after you had entered a monthly challenge but that will be reflected in the next month challenge. Like any other challenge you can’t change the rules of the game after the challenge has started - sounds fair?

Sometimes adhoc emergencies do occur. In such a scenario, you could make an emergency claim within the app. If you do so and after it is approved(we approve it if it fits in one of the usual categories of emergencies), then that transaction wouldn't be counted as part of your monthly spending limit rule. In such a case, you'll not be eligible for the 'bonus' reward, but you'll still be getting your money back if you had met your spending goals for that month.
Most personal emergencies are covered- emergencies that are directly related to you.

Please write to Prasanna@bigpicturelabs.co.uk. You could also try our business Whatsapp

Please use our chat facility(bottom right) on this website. You could also try our business Whatsapp

Firstly, you don’t pay to save, if you are reasonably disciplined with your spending. The entry fee is refunded in the form of rewards at the end of the month for those who have met 90% of their spending targets(which already includes some buffer). You only end up paying more to bigmo, when you are spending beyond your means.
Having said that our users typically pay for few reasons:
1. No one likes to lose their entry fee to the competition. bigmo helps to keep them in control and pushes them to reach their big moments on time.
2. bigmo rewards its users who reach their goals(1 in 5 users get rewarded with an amount equivalent to 2X the entry fee). Users could win upto £250 just by staying disciplined.
3. Even when some users lose some of their entry fee, they end up saving a lot more than they usually do. Hence overall they are better off compared to previous months.

As you might have observed from our website, we are in the business of savings and we are just about savings. If you save more, we will win more through partnerships and consequently help you to reach your big moments on time.

The product at its core(challenges/rewards) is designed to help you save more for tomorrow. We start with the big moments and end with the big moments fulfilled; we stay with you throughout this journey to help you accomplish it. Think of this as a game, a real world game where you have rewards and consequences to nudge you into better spending and savings habits all tailored towards you reaching your big moments. We leverage principles from behavioural economics at the core of the product to influence spending and saving habits and we also nudge you(through notifications) when it matters more. Lastly we offer intuitive dashboards and actionable insights that matter when you participate to win bigmo challenges. We are constantly innovating and have some great features coming up and it’s just the beginning.

bigmo has rules inbuilt to spot such cases. By integrating with users bank accounts and analysing their financial position, we can spot people trying to game the system. Such users will have a low chance of entering the challenge and also a low chance of winning rewards. This way the system remains fair for all.

Yes, you are guaranteed your money back if you reach your monthly goals as planned.

Currently below are some of the major providers we support. There are others we support that are not in the list. So please check with us during the check-in process.

Barclays
HSBC, First Direct
Natwest, RBS
Lloyds, Halifax, BOS
Nationwide
Santander
Monzo
Starling Bank
American Express
MBNA

bigmo calculates your savings based on your financial goals that you setup through bigmo and the timeframe to reach them. Once bigmo understands your monthly spend (Mandatory +Variable ), it works out how much you can actually save.
So it’s simply based on your goals and your income/expenses.

Your rewards are usually transferred within 8 days after the challenge ends. Rewards are calculated at the end of each challenge period , the draw for 1 in 5 winner happens after 7 days. In the event you are the winner , you will be notified and reward will be credited to your chosen bank account. In the event you are not reward calculated at the end of the challenge will be credited to your account.

Yes. As this is a challenge, bigmo sets you up for ambitious but achievable goals. The minimum for the challenge is 50% of your discretionary spending allowance. So let’s say you earn £3000 a month and £1500 are your fixed expense(rent/mortgage, utilities etc), then bigmo expects you to save £750 to be eligible for the big rewards. Remember, there is still a tolerance limit you can set which should give you a further cushion.

By definition it is ‘An occasion that has been eagerly awaited’. But we also extend this to critical moments such as saving for emergencies. It can be anything from saving for that dream vacation or saving for the perfect house or planning for your retirement. At bigmo we believe that most of us will have some big moments in life and are working towards them. We are simply making this journey more achievable , fun and rewarding at the same time.

By definition it is ‘An occasion that has been eagerly awaited’. But we also extend this to critical moments such as saving for emergencies. It can be anything from saving for that dream vacation or saving for the perfect house or planning for your retirement. At bigmo we believe that most of us will have some big moments in life and are working towards them. We are simply making this journey more achievable , fun and rewarding at the same time.

By definition it is ‘An occasion that has been eagerly awaited’. But we also extend this to critical moments such as saving for emergencies. It can be anything from saving for that dream vacation or saving for the perfect house or planning for your retirement. At bigmo we believe that most of us will have some big moments in life and are working towards them. We are simply making this journey more achievable , fun and rewarding at the same time.