MORE BUCK FOR YOUR BANKING
Use your bank’s rewards program to make your money go further with big treats, or everyday little extras
WHEN a surprise pregnancy had *Lihle Dlamini stressed out about finances, she was relieved to find some help with the essentials. “Her UCount reward points are letting her buy all her baby essentials at Clicks and Makro,” says Fayelizabeth Foster, Executive Head of Loyalty & Rewards at Standard Bank. Heart-warming stories are not uncommon, like a parent spending his UCount rewards on a child’s birthday party, or another customer who used her rewards points to to fill up her tank without using cash she didn’t really have.
Appliances, holidays and big buys are common for those who save up their monthly rewards points, which are essentially a free bonus, for a R22 per month.
By transacting for about R20 000 a month for groceries, fuel at Caltex and at some of the Rewards Retailers, customers can get at least R375 back in UCount rewards points and wait for it... up to R1 415 if they qualify for the higher rewards levels by having multiple products, and other behaviour patterns.
It sounds too good to be true, but it is making a different to customers’ bottom line says Foster.
“What we are seeing, is a trend of people using their rewards for their everyday needs. In the past rewards were for spoils, but many people use it to supplement their daily life if they’re short at the end of the month, for petrol or a treat on a Friday night, like takeaways at KFC.”
NO DEBT REQUIRED
“What it shows you is that customers use it in whatever way suits them. For groceries at Makro or beauty products from Clicks or The Body Shop or even to treat others with a gift from NetFlorist.”
She said it is a way of giving customers something without doing anything different from what they normally do. “There is no extra spending, because we reward customers at every swipe. On top of that, you get more engaged with us. There are levels — but importantly, you don’t have to be in debt with lending products, to get to the top level.”
Foster said simple activities, like customers getting their statements by email or giving the bank marketing consent, would earn rewards and upgrade clients to higher reward levels.
“We’ve given R2.3-billion away in rewards points since our programme started in mid2013. It is heartening to see how people can save and use them, but also how we are helping day-to-day to get customers over the line to next pay day.”
USE IT FOR A HOLIDAY
The saying that there is no such thing as a “free holiday”, is just not true anymore.
Rewards programmes mean you can pay for your time out — if you transact cleverly. Sound too good to be true?
Don’t dismiss it or you could be waving goodbye to friends or family who got a free flight or hotel accommodation because they used their banking relationship to their advantage. Technology, treats, beauty products, toys are all there for the taking if you are smart about how you swipe.
A colleague used to boast about filling up her petrol tank a few days before payday. And we all have that relative who saves her rewards and spends them on Christmas presents — talk about persistence.
The 2017 Truth Loyalty Whitepaper survey showed that 8% more people used loyalty programmes last year than they did in 2016.
Standard Bank’s UCount Rewards programme is tailored for exactly that.
Because paying bank fees is a pain in the ribs, it seems there is a way to get something back to maximise the pain relief.
SO WHAT IS THE TRICK?
It seems UCount Rewards lets you collect rewards points when you shop with your qualifying Standard Bank personal credit, cheque or debit card.
You can get up to 20% back in rewards points on all your qualifying grocery purchases, up to R2 back in rewards points per litre of fuel purchased from Caltex and up to 1.25% back in rewards points on all your other purchases. What’s more you get up to 5% back in rewards points at 14 Rewards Retailers.
Then you can redeem your rewards points at the Rewards Retailers, for fuel at Caltex, UCount Rewards Travel Mall or for topping up your savings.
Not only are there rewards, but also special offers simply for banking with Standard Bank.
FRONT OF WALLET
From a banking perspective, it puts the Standard Bank card “front of wallet” and that is what it is about.
If you bank elsewhere, try the calculator online to work out how many UCount rewards points you could be getting.
It might just be time to switch. Call: 0860 UCount (82 68 68)
*Name has been changed.