More than 70 Million Saudi Riyals redeemed in rewards

Transcription

1 More than 70 Million Saudi Riyals redeemed in rewards Enjoy exceptional rewards with our exclusive Reward Points Program As a preferred client of Saudi Hollandi Bank, you are now enrolled in the Reward Points Program. As a member of our recently improved Reward Points Program, you will enjoy unlimited rewards in return for maintaining and growing your current financial relationship. Earn valuable Reward Points while conducting routine financial, deposit and savings transactions. Reward Points may be redeemed for a range of luxury products and services from the finest names in jewelry, automobiles & electronics. This guide has been developed for your easy reference, and tells you everything you need to know about earning points and claiming rewards. You will also find detailed information about our partners featured in the program. We would like to take this opportunity to thank you for your patronage and reaffirm our commitment to finding new and valuable ways to offer you a wider range of benefits. 2

2 The more you deposit, the more points you will earn Who is eligible for the Reward Points Program? - Preferred Banking and Taqdeer Banking individual accounts, joint accounts are entitled to be enrolled in the program. - Enrolled clients must maintain a monthly average eligible Reward Points balance in Saudi Riyal or equivalent currencies (USD, EURO and Sterling Pound) of SAR in one or more bank accounts. 3

3 What are the Eligible Accounts in the program? - Current Account - Margin Account - Saving Account - Call Account - Time Deposit What is the Equivalent Divider? The number you divide the average monthly balance of one or more accounts by, in order to obtain the Eligible Reward Points Balance. The Equivalent Divider varies from one account to another. (See following table) How is the Eligible Reward Points Balance calculated? SAR (eligible Reward Points Balance) = in Current Account or = 700,000 in Call Account or = 700,000 in Savings Account or = 2 million in Time Deposit Account A combination of balances in different eligible accounts can also be aggregated to arrive at your Eligible Reward Points Balance. For example if you have the same balances as listed above, your Eligible Reward Points Balance will be SAR 400,000. 4

4 The Equivalent Divider of the Eligible Accounts: Account Average Monthly Balance (SAR) Eligible Reward Points Balance Equivalent Divider Eligible Reward Points Balance Current Account 1 Margin Account 1 Saving Account 700,000 7 Call Account 700,000 7 Time Deposit 2 million 20 5

5 What are Available Points? Available Points are monthly accumulated Reward Points from one or more bank accounts, which have passed 12 months and are eligible for redemption. What are Current Points? Current Points are monthly accumulated Reward Points from one or more bank accounts, which have not passed 12 months and are not yet eligible for redemption. How are Reward Points accumulated? Reward Points are accumulated based on the monthly average Eligible Reward Points Balance maintained in one or more bank accounts in SAR or equivalent currencies (USD, EURO and Sterling Pound) Monthly earned Reward Points will be accrued for one year from the date of your enrollment in the program and will be reported in your Reward Points Program monthly statement. Accumulation of Reward Points : Monthly Average Eligible Reward Points Balance Categories SAR - SAR 249,999 SAR 250,000 - SAR 499,999 SAR 500,000 - SAR 749,999 SAR 750,000 - SAR 999,999 SAR 1,000,000 - SAR 9,999,999 SAR 10,000,000 - SAR 39,999,999 SAR 40,000,000 - SAR 99,999,999 SAR,000 and above Monthly Basic Points ,333 12,500 Monthly Bonus Points for every 1 million

6 What are the Basic Points? You will be entitled to accumulate basic points if you maintain an average monthly Eligible Reward Points Balance, equal to the minimum balance required for each category (see previous table) What are Bonus Points? You will be entitled to accumulate bonus points for every additional SAR 1,000,000 (Eligible Reward Points Balance above the minimum balance required for each category (see previous table) For Example: If you have an Eligible Reward Points Balance of SAR 9,000,000 your Reward Points will be calculated as follows: 1 million = 75 basic points 8 million = 8 x 67 bonus points = 536 Total Points = 75 basic points bonus points = 611 points 7

7 How to read your Reward Points Program statement The period that the Reward Points Program statement covers Your Reward Points Program account number The date you were enrolled in the Reward Points Program The basic Reward Points earned in the current month The bonus Reward Points earned in the current month Reward Points credited or deducted from your account as a result of the change in your monthly balance - Total Reward Points earned in the current year up to the date of the statement - Total Reward Points redeemed since you were enrolled in the program 8 Total Reward Points available for redemption

8 How do you redeem Reward Points? - Upon completion of the first year (12 months) or successive years, you will be entitled to redeem the available Reward Points for products and services you select from any one or more of our partners in the program. Simply complete the Voucher Request Form attached to your monthly Reward Points Program statement and Saudi Hollandi Bank will issue you a voucher or number of vouchers with the requested number of points and their value. All you have to do is select the product or service you want and submit your voucher(s) to any one of our Reward Points Program partners in return for your selected product or service. 9

9 Terms and Conditions 1. If your average monthly Eligible Reward Points Balance falls below SAR 1 million, you will maintain your earned basic points, but all your previously earned bonus points will be cancelled. However, your eligible category and points earned will ultimately be set based on your monthly Eligible Reward Points Balance at year-end. 2. Your Reward Points may not be redeemed for cash or credit and are not endorsable or transferable. 3. You may assign someone to redeem your Reward Points vouchers on your behalf, provided that you indicate his/her name in the voucher request form. 4. Reward Points vouchers will be issued as below: Maximum of 2 redemption application requests per year. Maximum of 10 vouchers per request. Minimum of 50 points per voucher. 5. The Reward Points voucher value has to be redeemed in full. No cash refunds will be provided. 6. You can keep the Reward Points that you earned for a maximum of 4 years, and after completing 5 years in the program, the Reward Points you earned in the first year will be cancelled if not redeemed. 7. If your Eligible Reward Points Balance falls below the minimum balance of SR for three successive months, you will be disqualified from the Reward Points Program and consequently, your previous earned points will be withdrawn. 8. Saudi Hollandi Bank reserves the right at any time to amend the Reward Points Program without recourse to the client. 10