As of 16 April 2018, we are adding more banking products and more ways to help you  move up the Absa Rewards tiers and earn more cash back. Here’s a look at the improved Absa Rewards programme to give you a head start on earning more cash rewards.

Estimator

Cash rewards
More cash in your pocket
More options to move you up tiers faster
Additional Rewards for the way you bank
Rewards for your everyday shopping

Rewards Score allocation:

We now have new ways of banking and more products to help you move up the tiers faster:

Banking Products
Product Category  Criteria  Monthly Score
Transactional product categories Transactional savings account and/or cheque account without an overdraft or 100
Transactional cheque account with an overdraft 150
  Credit card 50
Non-transactional product categories Home loan with a minimum debit balance of R1 000 125
  Absa Vehicle and Asset Finance with a minimum debit balance of R1 000 50
  Personal loans with a minimum debit balance of R1 000 50
  Savings and investments including Unit Trusts, Tax free savings investment and Currency Investment Account with a minimum combined investment balance of    R1 000 20
  Insurance product (short term or long term insurance that is active) 15
  Wills (In safe custody with Absa and Absa as the appointed executor) 10

There are more ways you can get rewarded for how you bank with Absa. These seven banking activities can help you move up a tier.

Banking Activities
Category Activity type
Monthly Score
Bank digitally
Receive monthly eStatements (email) instead of paper ones for the products that contribute towards your tier.
25
Make five or more online beneficiary payments via Absa Online, Absa banking app, ATM and USSD during the month. 40
Keep in contact Ensure you have valid contact details for at least two of the following: Cell number, email address, Home/work number. 25
Marketing consent Give marketing consent for at least two of these channels: SMS, email, telephone. 25
Using  our banking products

Deposit your salary into your Absa transactional account and complete 10 or more transactions or make payments to the value of R32 000 and complete 10 or more transactions.

Score awarded if you have met this criteria during the current and previous month.

270
International transactions Buy foreign bank notes or make/receive an international (SWIFT) payment. 20
Bonus score Have three or more Home Loans, Vehicle Asset loans or a combination thereof. Each loan must have a minimum debit balance of R1000 to qualify for this score. 30

The tier ranges remain the same. You now have more options to increase your tier and earn more cash back. The Rewards Score you have accumulated will determine your rewards tier.

Rewards tier
Score range
Earn rate:
Debit card
Earn rate:
Credit card
Earn rate: Multi-currency Cash Passport card
Tier 1 0 – 479 0.25% 0.25% 0.25%
Tier 2 480 – 579 0.30% 0.50% 0.75%
Tier 3 580 – 679 0.45% 1.00% 1.25%
Tier 4 680 – 779 0.70% 1.25% 1.35%
Tier 5 780+ 1.00% 1.50% 2. 00%

Note: Customers will now earn Cash Rewards on the first qualifying spend of R150 000 during an accrual period

Private Bank and Wealth Banking customers will automatically be registered for Absa Rewards when you open your Young Professionals Private Banking; Exceller Private Banking, Marhaba Private Banking or Wealth Infinite account. You will also automatically start on Tier 3 but you have the opportunity to move up the Rewards tiers if you have one of these accounts.

Example: If you haven’t accumulated the minimum score (namely 580) to qualify for tier 3, you will still be in tier 3. If you have accumulated a score of 700 you will earn on tier 4.

Absa Rewards gets even better and better

We have recently added a grocery earn benefit to the programme where you can earn as much as 20% cash back when you swipe your Absa card at the following participating grocers

  • Food Lovers Market
  • Fruit & Veg City

Earn Rates

Rewards tier
Earn rate: Debit card
Earn rate: Credit card
Tier 1 0.25% 0.25%
Tier 2 0.45% 0.65%
Tier 3 0.50% 1.25%
Tier 4 1.5% 6.25%
Tier 5 4.5% 20%

Terms and conditions

  • Customers will only earn cash back on a maximum spend of R3000 per accrual period, which will be aggregated across the participating grocers.
  • Spend in excess of R3000 will not earn cash back from Absa or the grocer partner.
  • Standard partner T&Cs apply

 

Estimate your Rewards Tier and earn rates starting 16 April 2018 by clicking here

Click here to find out more about Absa Rewards or download the latest welcome pack here.

Updated Terms and conditions effective 16 April 2018

Contact Us

Need more help?

Let one of our consultants help you get the best rewards.

0861 78 88 88

Email us at:

absarewards@absa.co.za