In today’s fast-paced world, finding ways to make your money work harder is essential. Absa Rewards offers a seamless way to earn real cash back on your everyday spending, turning routine transactions into rewarding experiences.
What is Absa Rewards?
Absa Rewards is a program that provides members with real cash back on purchases made using Absa cards. Unlike traditional points-based systems, Absa Rewards deposits cash directly into your account, offering immediate and tangible benefits.
How Does It Work?
Earning cash back is straightforward:
Use Your Absa Card: Make purchases with your Absa debit, credit, or cheque card at participating retailers.
Earn Cash Back: Depending on your Rewards Tier, earn up to 30% cash back on qualifying purchases.
Receive Cash Back Monthly: Cash back is credited to your account monthly, providing extra funds for savings or spending.
Breakdown of How Absa Reward Points are Earned
Unlocking Higher Absa Rewards Tiers
To progress beyond Tier 1 in Absa Rewards, members under 55 must download and register on the Absa Banking App. Your rewards tier is determined by your engagement with Absa’s products, banking activities, and digital transactions.
1. Banking Products
Absa offers 14 product categories that contribute to your Rewards Tier. Here’s a summary of the categories and monthly scores available:
- Transactional Products
- Savings/cheque account (no overdraft): 100 points
- Cheque account (overdraft of R2,000+): 150 points
- Credit card (50% monthly spend on card): 50 points
- Credit card + cheque account: 65 points
- Non-Transactional Products
- Home Loan (balance of R50,000+): 85 points
- Vehicle & Asset Finance (balance of R5,000+): 55 points
- Personal Loan (balance of R5,000+): 55 points
- Savings/Investment account (R5,000 – R999,999): 55 points
- Savings/Investment account (R1,000,000+): 110 points
- Will (in Absa custody with Absa as executor): 10 points
- Foreign Currency Investment (R15,000 – R99,999): 45 points
- Foreign Currency Investment (R100,000+): 85 points
- Insurance Products
- Active short-term insurance: 15 points
- Active long-term insurance: 15 points
Note: Some account types (e.g., Absa Money Market Fund) are excluded from rewards scoring.
2. Banking Activities
Monthly banking activities add additional points:
- Primary Transaction Activity: Deposit your salary (or 50% of it) or pay R32,000 into your Absa account and complete 10+ transactions monthly – 280 points.
- Digital Activity: Conduct 5 digital transactions to earn a digital engagement score if primary activity criteria are met – 60 points.
- Bonus Score for Loan Products: Holding three or more loans with a balance meeting minimums for each loan type adds – 30 points.
3. Recurring Monthly Savings and Investment Deposits
Earn additional points based on recurring deposits into savings/investment accounts:
- Deposits of R250 – R4,999: 10 points
- Deposits of R5,000 – R9,999: 20 points
- Deposits of R10,000+: 30 points
Scores for recurring deposits and product qualifications are only credited after meeting the criteria for two consecutive months.
Maximizing Rewards Combine multiple products, ensure digital engagement, and set up regular deposits into savings accounts to boost your Absa Rewards score monthly.
Maximizing Your Rewards
To get the most out of Absa Rewards:
Shop at Partner Stores: Earn higher cash back percentages at partners like Woolworths, Pick n Pay, Food Lover’s Market, Dis-Chem, and Sasol.
Engage Digitally: Use the Absa Banking App for transactions and challenges to boost your Rewards Tier.
Maintain Multiple Absa Products: Holding various Absa products can elevate your Rewards Tier, leading to increased cash back.
Exclusive Offers and Benefits
Absa Rewards members enjoy additional perks:
Absa Advantage: Complete challenges via the Absa Banking App to earn meal vouchers and other rewards.
Discounted Entertainment: Receive 50% off movie tickets at Nu Metro cinemas.
Travel Benefits: Access exclusive deals on flights, accommodation, and car hire through Absa Rewards Travel, with up to 30% cash back from travel partners.
No Membership Fees
One of the standout features of Absa Rewards is that it remains free for Absa customers, ensuring you receive maximum value without additional costs.
Getting Started
Joining Absa Rewards is simple:
- Register: Sign up via the Absa Banking App or visit your nearest branch.
- Start Earning: Use your Absa card for everyday purchases and watch your cash back grow.
For more information or assistance, contact Absa Rewards at 0861 78 88 88 or email absarewards@absa.co.za.
Transform your everyday spending into rewarding experiences with Absa Rewards, and enjoy the benefits of real cash back today.
