A new year brings with it more opportunities to do more, go further and reach new heights. With this in mind, Old Mutual Rewards has revealed some exciting new partners and ways you can earn even MORE points in 2020.
Here are the ways Old Mutual Rewards will be changing things up in 2020!
1. Points for swipes for all Money Account holders who are Rewards members
Old Mutual Rewards members who also have a Money Account will now receive points for swipes on their Money Account too!
Points are awarded at a rate of 1% of spend for each Money Account swipe, rounded down to the nearest point. This means Money Account holders will earn one point for every R100 spent.
Example: If you complete three qualifying transactions in the month, valued at R89, R129 and R500, you will earn a total of six points. The table below gives a closer breakdown of your points earn.
Value of qualifying transaction |
Points earned |
R89 |
0 |
R129 |
1 |
R550 |
5 |
2. New ways to keep your Money Account Tier
In 2020, you can keep your Money Account tier if you:
- make five point-of-sale swipes per month (of at least R100 each) AND
- you have at least one Debit Order paid from your Money Account per month
* From February, your Money Account will not count towards your tier if you have not met these criteria by the end of each previous month.
Rewards members can still redeem points into Money Account even if their Money Account does not meet the above tier criteria.
3. Bigger, better gym benefits
Great changes have been made to make gym membership and rebates more accessible for members in 2020.
New criteria:
Tier |
Discount |
3 |
Up to 50% rebate |
4 |
Up to 50% rebate |
5 |
Up to 100% rebate |
- Members now qualify for a gym benefit on Tier 3! Previously this benefit was only available to Tier 4 and Tier 5 members.
- The points hurdle in order to qualify has been lowered from 1 000 to 700 per month.
- The number of qualifying gym visits has been reduced from 10 to eight per month.
4. Refer a friend and SCORE
Members can earn points for referring friends or family members to Old Mutual Rewards. Referred members will need to register for the programme using a unique referral code.
Points will be credited to the member’s account once the friend or family member registers when the following two criteria are met:
· The friend or family member you refer must already own any of the qualifying Old Mutual products listed in section 6 of the Old Mutual Rewards T’s & C’s.
· The friend or family member you refer must have earned at least one Old Mutual Rewards point.
5. Travel for less
In 2020, we are offering discounts on local and international flights and bus tickets. Look out for the Travel portal on the Old Mutual Rewards website for details.
In addition to the discounts, members will also be able to use their points to buy Travelstart vouchers that can be used to make bookings online.
6. Depending on your tier, earn more points!
Here’s how the Rewards points are earned as a percentage of premiums in 2020:
Tier 1 0 – 1 financial need met |
Tier 2 2 – 3 financial needs met |
Tier 3 4 financial needs met |
Tier 4 5 financial needs met |
Tier 5 6 or more financial needs met |
|
Life insurance – Death, Disability, Severe Illness |
5% |
10% |
20% |
30% |
35% |
Funeral Insurance |
5% |
15% |
25% |
35% |
50% |
Savings, Investments & Lending |
0.5% |
1.5% |
2.5% |
3.5% |
5% |
Short-term Insurance |
2.5% |
5% |
10% |
15% |
20% |
Look out for these new Rewards partners in 2020!
New partners to redeem Rewards points at in 2020 include:
- Shoprite and Checkers
- Wimpy
- Bootlegger Coffee
- Additional movie voucher options including popcorn and cold drink vouchers
Also coming soon: Uber, Uber Eats, AlwaysOn Wifi, Fishaways
We are excited to bring these new benefits to you in 2020 – and there are more to come! Make sure you go to www.oldmutual.co.za/rewards for more on how you can accelerate your earning power, become money smart by completing our assessments, surveys and calculators – and so much more!
If you are not yet an Old Mutual Rewards member, you are missing out! Go to www.oldmutual.co.za/rewards to sign up - FOR FREE!
You can also download the Old Mutual app to track your rewards and stay up to date with your policies. Visit the Apple App Store, Google Playstore (device-dependant) or Huawei App Gallery to get you started on your financial wellbeing journey.