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Absa is refreshing its benefits to reward you for financially responsible behaviour

You’ve been enjoying Absa Rewards for a while now and you’ve no doubt seen the benefits. But your needs change, right? So, we’re constantly looking at ways to reward financial behaviour that brings your possibilities to life. We are restructuring Absa Rewards to do exactly that. The following changes will come into effect from 16 January 2019*.

Make saving a habit
There are always financial possibilities in life. We’re giving you a new score for saving for them. Now you can add a score of 20 if you deposit at least R250 into your savings or investment account monthly.

Qualifying rules:

The deposit amount needs to be greater or equal to R250 per month, for 2 consecutive months.

The deposit type can be any type (including debit order).

If you have multiple Savings & Investments accounts, the sum of all deposits, per account, must be R250 per month, for 2 consecutive months (i.e. if you have multiple accounts – at least one of those accounts needs to abide by this rule).

PLUS

Increase your savings and investment balances.

Ensure that your savings goals stay on track and get rewarded at the same time. We’ve increased the score on savings and investment accounts from 20 to 50. How do you qualify? Just by keeping a minimum balance of R5 000.
New Partners from as early as 16 December 2018
Just when you thought it couldn’t get any better, new exciting partners will be coming on board from 16 December 2018:

Emirates Airline:

Offer: Absa Rewards customers will receive a benefit for as much as 25% discount on Emirates flights and earn as much as 15% cash back on all booking made on the exclusive and dedicated Travelstart link.

How to get the offer: Book on the exclusive Travelstart link and pay using your Absa card.

Etihad Airways:

Offer: Absa Rewards customers will receive an upfront discount of as much as 30% and earn as much as 15% cash back on all bookings made on the exclusive and dedicated Travelstart link.

How to get the offer: Book on the exclusive Travelstart link and pay using your Absa card.

MyTelnet:

Offer: Absa Rewards customers will earn 10% cash back on all home connectivity products and services (Fibre, ADSL, LTE only) purchased on the dedicated. MyTelnet website

How to get the offer: Pay using your Absa card and also set up a debit order on your Absa card on the exclusive and dedicated MyTelnet website.

Some additional changes to the partners:

Cash back from Hirsch’s are changing to 1% cash back effective 16 December 2018.

hi will no longer be part of the Absa Rewards programme effective from 16 December 2018.

*Terms and Conditions apply

Fuel earn increased to as much as 20% cash back

Absa Rewards understands the impact of the ever-changing fuel prices and even though we have adjusted the earn rates, you can now earn as much as 20% cash back when you fill up and shop at Sasol. The new Cash Rewards at Sasol are as follows:

Rewards tier	Score Range	Earn rate: Debit card	Earn rate: Credit card
Tier 1	0 - 479	0.50%	1.00%
Tier 2	480 - 579	0.65%	1.50%
Tier 3	580 - 679	0.75%	2.50%
Tier 4	680 - 779	2.0%	6.50%
Tier 5	+780	4.50%	20.00%

Scores and new qualification criteria
Debit order qualifier

You will only receive a score for credit card, home loans, vehicle finance and personal loans if you have a monthly debit order in place against these respective products.

If you do not have a debit order in place against these products, you will not receive the qualifying score for that product.

Changes to minimum debit balance requirement

The minimum debit balance on savings and investments (combined balance), home loans, vehicle finance and personal loans will now be R5 000.

Home loan score

The home loan score allocated will now be 75.

Increase in savings and investments score

You will now earn a score of 50 on savings and investments including Unit Trusts (excluding Money Market Fund), Tax-Free Savings Investment and Currency Investment Account with a minimum combined investment balance of R5 000.

New score for monthly deposit payment

You can now get a new score of 20 if you deposit R250 or more into your savings or investment account monthly.
Bank spend cap

Your total bank earn spend cap is now R75 000 (seventy five thousand rand only) per month.
Wealth Infinite and Private Bank

Wealth Infinite and Private Bank customers will no longer be automatically default to Tier 3.

To benefit more from Absa Rewards, change how you bank and take up more products with Absa. This will allow you to increase your score, move up the tiers and get more cash back. For more information visit Absa Rewards or contact the following contact centers:

Private Assist for Private Banking customer – 0860 553 553.

Wealth Assist for Wealth customers – 0860 265 265.

Absa Rewards contact center – 0861 78 88 88.

Earn rates from Absa

The new Cash Rewards earn rates from Absa and on your Multi-currency Cash Passport have been adjusted as follows:

Rewards Tier	Score Range	Earn rate: Debit card	Earn rate: Credit card	Earn rate: Multi-currency Cash Passport
Tier 1	0 - 479	0.15%	0.20%	0.25%
Tier 2	480 - 579	0.25%	0.40%	0.50%
Tier 3	580 - 679	0.30%	0.75%	0.80%
Tier 4	680 - 779	0.35%	0.95%	1.0%
Tier 5	+780	0.40%	1.15%	1.25%

We will no longer be paying bank earn on transactions that earn a partner cash back. You will only earn the respective partner earn on qualifying transactions.

For illustrative purposes: You currently earn 5% cash back at Netflorist + Cash Rewards from Absa .
From 16 January 2019 you will earn only 5% cash back at Netflorist.

Earn rates at Grocers

The earn rates on tier 1 have been adjusted. The new Cash Rewards earn rates at Grocery Partners have been adjusted as follows:

Rewards tier	Score Range	Earn rate: Debit card	Earn rate: Credit card
Tier 1	0 - 479	0.15%	0.20%
Tier 2	480 - 579	0.45%	0.65%
Tier 3	580 - 679	0.50%	1.25%
Tier 4	680 - 779	1.5%	6.25%
Tier 5	+780	4.50%	20%

Don’t forget to visit our updated Rewards estimator from 16 December 2018.

Here’s to Rewards that actually know what you need and give you what you want.

*New rules are effective for transactions from 16 January 2019, with you receiving your first Absa Rewards payout based on the new rules on 28 February 2019.

*All the qualifying products and banking behaviours you have as at end January 2019 will determine your Rewards tier and earn rates applied end February.

Need more help?

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

Call us on:

0861 78 88 88

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Absa is refreshing its benefits to reward you for financially responsible behaviour

Rewards tier

Score Range

Earn rate: Debit card

Earn rate: Credit card