This month saw Standard Bank launch a reward programme for its customers which make use of their Standard Bank personal debit, cheque or credit card on a regular basis. The bank said its programme, UCount Rewards, will ‘reward typical banking behaviour’ and encourage self service banking practices.
“Customers are already using their debit, cheque or credit cards as primary methods of payment. They will now be rewarded every time they swipe their card, no matter where they shop or how much they spend,” said Sugendhree Reddy (pictured), head of personal markets at Standard Bank South Africa.
When asked what makes the UCount programme different from other reward schemes offered by Standard Bank’s competitors, Reddy said: “A key differentiator of the UCount Rewards programme is that customers collect rewards points on their grocery shopping. Groceries are a ‘non-discretionary’ spending item for households and often one of their biggest monthly expenditures. Customers can now be rewarded on this spending by collecting up to 10% in rewards points, at most major grocery retailers in the country.”
Membership benefits
Members of the programme will receive up to 1.5% back in rewards points on general purchases made with their Standard Bank debit, cheque or credit card. For all grocery purchases at Checkers, Checkers Hyper, Makro, Pick n Pay, Shoprite, SPAR, and Woolworths, members will collect up to 10% back in rewards points.
Members can also collect rewards points for every litre of fuel purchased at Caltex forecourts. Until December 2013, they will receive R1 back in rewards points on every litre of fuel purchased at Caltex forecourts, and 20c in rewards points per litre thereafter.
There are also specific retailers where members can collect up to five percent in rewards points. “Participating rewards retailers include Makro, Clicks, Coricraft, Incredible Connection, Tiger Wheel & Tyre and Altech Netstar. These are great stores where members can collect even more rewards points, and will enjoy exclusive benefits, deals and special offers,” said Reddy.
All Standard Bank customers will also be able to access online shopping and travel offers through the UCount Rewards Online and Travel Malls. Standard Bank said these online platforms will offer a wide range of goods and services, and allow UCount Rewards members to both collect and redeem points. Every 10 reward points equals R1.
Members of the programme have a variety of options for redeeming rewards points. Rewards points can be converted to SAA Voyager Miles at a rate of one rewards point to one SAA Voyager mile. Members can redeem them for purchases on the travel and online malls, use them to visit a Bidvest Premier Airport Lounge, redeem rewards points at the participating rewards retailers, use them to pay for fuel at Caltex forecourts, or even use their rewards points to make a deposit into a savings account or donate them to charity.
“We are confident that our customers are going to get great value from joining UCount Rewards. The programme is simple and makes collecting rewards points easy. We look forward to seeing our customers benefit,” added Reddy.