Your bank card provides you with great value-adds

Take the time to educate yourself on your bank’s rewards programme or value-added services, and reap the benefits of your knowledge.

SPONSORED - Do you know of all the benefits that your Absa bank card offers you? Be in the know, and maximise the value of your card.

1. Rewards

During this period of the COVID-19 pandemic, many South African consumers have been financially impacted due to lockdown restrictions, resulting in them earning less income or no income at all. Being wise about the rewards that your bank offers you during this time, will help you stretch your rands and in some cases earn cash back for using your banking products for day-to-day transacting.

Many banks offer their customers rewards for merely using their cards to make payments. Are you part of your bank’s rewards programme? Some banks require you to opt in and pay a membership fee. Absa’s Rewards Programme offers its members cash back for swiping their debit and credit cards, which they can use as cash, convert to data and airtime, donate to a charity or simply keep for when they’d like to use it, and what’s great, is that members don’t need a separate rewards card to earn their rewards. Take the time to educate yourself on your bank’s rewards programme or value-added services, and reap the benefits of your knowledge.

2. Access your transaction history regularly

During the COVID-19 pandemic, fraudsters are introducing new scams to defraud consumers. It’s vital for you to ensure that no erroneous deductions are being made from your bank accounts. Ensure that you have signed up with your bank’s notification system to get real-time messages when there is any activity on your account. Most banks allow you to set up the notification channels and amounts on which you want to receive notifications. Most banking apps also allow you to view your 90-day transaction history and available balance on your bank accounts. Check your banking app regularly and if any suspicious transactions have been processed on your account, call your bank’s fraud department and report this to them as soon as you become aware of this. The sooner you report an issue to your bank the better, as this allows them to block any cards where fraud has taken place and investigate the issue to minimise personal losses.

3. Manage your account online

Many banks’ telephone lines are under immense pressure to service customers, resulting in long waiting times to get hold of a bank representative. Many of the queries and requests from customers can be processed through self-service channels such as cellphone banking, internet banking and on your bank’s app. Only phone your bank if you’ve checked that you can’t get the information you need yourself on one of these channels, and don’t visit your bank’s branch unless you’ve exhausted all self-service options and are sure that you can’t service the transaction yourself. Although banks are following strict hygiene controls in their branches that are open to the public, rather stay safe and don’t visit a branch unless absolutely necessary.

Stay in the know and reap the rewards!