Standard Bank’s popular UCount Rewards programme will undergo a series of changes to make it easier for members to earn more Rewards Points for their spend and to incentivise members to use digital channels and make smart money moves.
Both Business and Personal members are set to benefit from the changes, which are scheduled to come into effect as of 1 February 2022 and 1 March 2022 respectively.
“As part of our ongoing efforts to provide additional value to our members, many of whom are looking for ways to save due to various economic pressures, we have updated our UCount Rewards programme so that our members can take advantage of more ways to earn more Rewards Points for conducting their everyday banking with Standard Bank,” explains Fayelizabeth Foster, Head of Loyalty and Rewards at Standard Bank.
New ways to earn UCount Rewards for Personal members
The UCount Rewards programme is based on Tiering Levels, which means that the more Standard Bank products and services you use, the higher your Tiering Level will be – and the more Rewards Points you will earn from your qualifying purchases.
With the updated UCount Rewards programme, Standard Bank has introduced new rules to the existing tier rules, which will give Personal members more ways to progress and move up a Tier Level.
UCount Rewards members will also be able to earn up to 400* Rewards Points with a new category called Tier Rewards, which is based on their Tier Level, by accessing Goals & Gains in the UCount Rewards in-app platform of the Standard Bank Banking App. Tier Rewards will be available on the 1st Wednesday of every month and members have until the last day of the month to claim them.
UCount Rewards has also removed the Total Qualifying Credit Card(s) spend of R20 000, making it easier for members to reach Tier 5.
New ways to earn UCount Rewards for Business members
Meanwhile, the UCount Rewards for Business programme has been simplified so that businesses can progress to higher Tier Levels and earn more Rewards Points, easier and faster.
From 1 February 2022, Business members can expect to see a new tiering structure that will see Tier Levels reduced from five to three. Standard Bank has removed the qualifying tiering points for Tier Levels, which means that Business members will be able to progress to Tier Levels based on a combination of product rules and behaviours.
Based on the reduced Tier Levels, the following earn rates (Rewards Points) will apply for Tier Rewards:
· Tier Level 1: 100
· Tier Level 2: 300
· Tier Level 3: 500
Members can also expect new earn rates of 0.5%, 0.8% and 1% on Credit Cards and 0.2%, 0.5% and 0.65% on Debit and Cheque cards. The earn rates for Fuel Rewards will be 35 cents per litre, R1.50 per litre and R5 per litre depending on your Tier Level. Members can still earn Dual Membership Rewards as well as Social Rewards.
“With these new changes, it’s now easier for your business to move up a Tier Level and earn more Rewards Points for each qualifying business purchase,” Foster says.
She adds that both Business and Personal members can look forward to benefitting from access to new partnerships with Rewards Retailers.
Please visit www.standardbank.co.za/ucount for more information about these new exciting changes.