What To Know About ABSA Rewards and How To Redeem from Affiliated Partners

ABSA is one bank in the country that is never short of coming up with innovations that always keep customers happy. Among such innovations is the ABSA Rewards, which has been introduced to benefit customers for using the bank in carrying out various transactions.

The rewards can be earned either through getting back cash or different scores that will enable you to get rewarded. The bank offers the reward through its various affiliate partners such as Bolt, Net Florist, and Dis-Chem pharmacy, among others.

A Look At What ABSA Rewards Is Exactly

ABSA Rewards
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ABSA Rewards is a cashback program the giant bank introduced to reward customers who use the bank’s Debit and Credit Cards. With this, you will be rewarded with anything between 1% to as much as 30% of your spending on various products or services.

Unlike many other reward programs by ABSA, this is pretty much easy to follow as you do not need so much to be a part of the program or to get rewarded. More so, it can offer you great discounts for making various purchases which may be meals, fuel, drugs, or something else when you make use of your ABSA Cards.

As stated, it is important to note that while the reward system is straightforward to join, it is not available for all ABSA customers; it is only for the cardholders of the bank who register for the program and make purchases or transactions with one or more of the affiliate partners of the bank. In addition to that, it is also for customers who make use of the Absa Banking App to make specified transactions.

How to Join The Program

One is not automatically a member of the ABSA Rewards program by the mere fact that you are a customer of the bank. First of all, you will need to register, which may come with a little charge each month. Here are the steps to follow to join:

  • You need to have an ABSA bank account.
  • You must be 18 years old. If you are not up to that age, you will be required to go to any of the bank’s branches with a guardian to start the process.
  • You must also have a transactional account with an Absa debit card, Absa cheque account, or Absa credit card.
  • Go to the rewards page online.
  • Agree to the terms and conditions provided and then click on continue
  • You will be required to fill in various personal information on the next page and then click on continue
  • On the next page, fields will be provided for information regarding your finances.
  • Click on continue, and on the final page, you can submit your application. You will soon be notified if it is successful.
  • Note that there is an Absa Rewards membership monthly fee of R23.20.

Various Transactions That Earn You ABSA Rewards And Affiliate Partners

One has to deal with some specified partners before you can stand a chance of being rewarded with the bank, and you have to carry out some specified transactions in the process. Here are the transactions you can carry out and the various partners to stand a chance of being rewarded:

1. Grocery Purchases

When you buy groceries from the bank’s partners, Food Lover’s Market, Pick n Pay, and Woolworths, you stand a chance of getting back as much as 30% of your spending.

2. Buy Fuel

When you refill your tanks or buy fuel at Sasol, ABSA can reward you with up to 30% cash of your spending. You also get this reward when you shop at Sasol.

3. Digital products

When you make digital purchases of things like subscriptions, music, movies, games, buying your favorite apps, and more with one of the different partners of the bank, you will also be rewarded. The partners include Spotify, Deezer, Show Max, PlayStation, Roblox, Google Play, and PUBG.

The reward system for the digital vouchers can also be as high as 30% of your purchases.

List Of The Partners Of The Bank And The Benefits You Get

There are many partners on the list of ABSA Rewards, and each has a different reward that it gives you back for any transaction. Here are the partners and what they give you back:

  • Nu Metro: It promises 50% back for movie tickets
  • Zulzi App: 30% back on all purchases made on this app
  • Bolt: 30% cashback on all Bolt rides and food ordered using this app
  • Woolworths: 30% cashback on grocery purchases
  • Dis-Chems Pharmacies: 30% back on health and beauty purchases.
  • Net Florist: For purchases made on  www.netflorist.co.za, you get up to 30% back
  • Etihad Airways: You stand to earn back 30% of the base fare of your flight tickets here.
  • Pick n Pay: When you swipe your ABSA Card at any Pick n Pay store nationwide, you stand to earn up to 30% of your spending back.
  • Food Lover’s Market: Like others, you can get up to 30% back depending on your spending and tier.
  • Travelstart: You will get 15% back when you make bookings using the exclusive and dedicated Travelstart link.
  • AVIS: When you rent a car using the exclusive link, you get up to 15% of your spending back.
  • The Baby Zone: You stand to get 10% for online purchases
  • The Kid Zone: This also gives 10% back when you use the ABSA card for online purchases
  • MyTelnet: 10% back for connectivity and other services
  • Fidelity ADT: When you make subscriptions and installation of alarm systems, you get ABSA Rewards of up to 10% back.
  • Camelot Spa: 5% is what you get when you get back purchases at Camelot Spa
  • Mangwanani African Spa: You also get back 5% back when making purchases on this online or retail store using your ABSA card.
  • Bidvest Waltons: 3.5% back on all your retail and online purchases made.
  • Bidvest McCarthy: When you use the exclusive link and finance your car purchase by a minimum of R700,000, you get back 1% of your spending.

Note: It is important to always check the affiliate partners of the bank on its website if you are interested in the reward system. This is because the list can change at any time, as before now, the bank has partnered with brands such as Solidarity Fund, Planet 54, and Celestial gifts.

There Is A Tier System For The Reward System

The ABSA reward you receive is dependent on the tier in which you are. The bank has created five different tiers under which you can fall. The highest cashback and points are earned by those in the fifth tier, while those in the first tier (tier 1) only get to receive back the lowest cashback and the least point for any transaction.

1. Tier 1

This is entry-level for anyone joining the ABSA Rewards system. When you start newly, you will have 0 points, and based on your activities and banking behavior, you continue to earn more points that will help you grow through the tier into the next.

The reward score range here is between 0 to 499 points, and although you are only starting, you will still earn in this tier. Here is what you get to earn here:

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Tier 1 ABSA Rewards from 0 to 499 Points
Debit Card Holders Credit Card Holders
Cash Rewards from Absa 0.15% 0.20%
Cash reward at Sasol 0.30% 1.0%
Cash Rewards from Grocers 0.15% 0.20%
Cash Rewards from Healthy and Beauty Partners 0.30% 1.0%

 

2. Tier 2

In the second tier, you are expected to have at least 500 to 599 points. This means that you will get better rewarded when you make purchases with any of ABSA’s partners.

Tier 1 ABSA Rewards from 500 to 599 Points
Debit Card Holders Credit Card Holders
Cash Rewards from Absa 0.25% 0.40%
Cash reward at Sasol 0.65% 1.50%
Cash Rewards from Grocers 0.45% 0.65%
Cash Rewards from Healthy and Beauty Partners 0.65% 1.50%

3. Tier 3

Once you reach 600 points, you will be moved automatically to the next tier in the ABSA Rewards system, where you will be earning more rewards than those in tiers one and two. One will remain in this tier until one crosses 699 points. Here are the rewards for this tier:

Tier 1 ABSA Rewards from 600 to 699 Points
Debit Card Holders Credit Card Holders
Cash Rewards from Absa 0.30% 0.75%
Cash reward at Sasol 0.75% 2.50%
Cash Rewards from Grocers 0.50% 1.25%
Cash Rewards from Healthy and Beauty Partners 0.75% 2.50%

4. Tier 4

The fourth tier is the second topmost tier in the rewards system, and it offers one better reward for purchases using both ABSA debit and credit cards than the lower tiers. To attain this tier, you will need to have been 700 to 799 points. Here are the different rewards you get when you reach this tier:

Tier 1 ABSA Rewards from 700 to 799 Points
Debit Card Holders Credit Card Holders
Cash Rewards from Absa 0.35% 0.95%
Cash reward at Sasol 2.00% 6.50%
Cash Rewards from Grocers 1.50% 6.25%
Cash Rewards from Healthy and Beauty Partners 2.00% 6.50%

5. Tier 5

Once you can get as much as 800 points or even more, you will automatically move to the fifth tier, where you are sure to get the highest benefits when you make any transaction with the bank’s partners, meeting specified terms and conditions.

It is only when you attain this position that you become eligible to get a cashback reward of as high as 30% for various transactions. Here are the rewards for those in this tier:

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Tier 1 ABSA Rewards from 800 Points and More
Debit Card Holders Credit Card Holders
Cash Rewards from Absa 0.40% 1.15%
Cash reward at Sasol 4.50% 30.00%
Cash Rewards from Grocers  4.50% 30.00%
Cash Rewards from Healthy and Beauty Partners  4.50% 30.00%

How To Earn Points And Rewards

It is easy to earn points and rewards with ABSA by making transactions with all the above-stated partners, but it is slightly more than just that. There are other things that you need to fulfill to make you eligible to have the rewards and points, such as the following:

1. Before anything, you need to have a transactional ABSA account. The type of account and card you hold determines the points you get, as indicated below:

  • Cheque account with overdraft- 150 points
  • Savings/Cheque account without overdraft- 100 points
  • Credit card with Cheque with monthly Debit Order- 65 Points
  • Credit card with a debit order towards monthly repayments- 50 points.

2. Non-transactional product categories: You can earn by having asset finance, savings, and insurance. When you take a loan, have insurance, or you are financing anything through the bank, you stand to get the following points:

  • Home loan- 75 points for a minimum debit order balance of R5000
  • Vehicle and asset finance- 50 points for a minimum debit order balance of R5000
  • Personal loans- 50 points for a minimum debit order balance of R5000
  • Savings and investments- 50 points for a minimum debit order balance of R5000
  • Insurance products- 15 points
  • Wills- 10 points

3. Your bank behavior can also determine the points you get, which can be from as high as 340 points per month for depositing your salary of up to R32,000 into your transactional ABSA account. There is a bonus score of 30 points for maintaining a minimum of R5000 for your outstanding three loans at least.

More so, when you make a monthly deposit of at least R250 into your savings and investment accounts. You get to receive the points after you must have maintained this for the two previous months.

There Is A Limit To How Much You Can Earn

While it is designed to help the bank’s customers make money as they spend, the ABSA Rewards has a limit of earning. This means that once you get rewarded to the tune of the limit, the bank does not give you any more rewards for the month, even when you continue making transactions with its partners.

The Spend limits for Cash Rewards vary based on the transaction you are carrying out. Each partner has its spending limit for rewards found here, and ABSA also set a limit for its various transactions:

  • Cash Rewards from Absa: The spending limit for Wealthy Customers is R75,000, while Private Bank Customers is R50,000. Retail Customers have a spending limit of R25,000 for cash rewards.
  • Cash Rewards at Grocery Partners: The spending limit for this is put at R30,000 or 30% of Total spend, depending on which comes first.
  • Cash Rewards at Sasol: This also has a limit of 30% of total spending or R30,000.
  • Cash Rewards at Dis-Chem: The spending limit of this is also not different from the two above; 30% of total spend or R30,000.

As stated, the limits for all other partners are different from one another.

How To Redeem Your Rewards

ABSA Rewards
image source

One thing that is even more interesting than getting your cashback, thanks to this reward system, is how easy it is for one to clear the funds. ABSA has made it easy for one to clear through various means, and you do not need to pay any transactional fees in the process.

In addition to that, you get to spend your cash reward in any way that you want, including making purchases, buying airtime, and also cash investment in an Absa Savings or Investment account. You can also use it as a donation to one of our listed partner charities or even for Nu Metro movie ticket vouchers.

The cycle for earning your money starts on the 16th of the month, and it comes to an end on the 15th of the following month. After this, your cash will be paid on the 1st day of the second month. There is no indication that rewards could be shared or transferred to someone else.

You can redeem your rewards via any of the means below:

  • The Absa Banking App
  • Absa Online
  • Cellphone Banking (USSD *120*2272 #)
  • Absa Rewards Contact Centre
  • ChatBanking on WhatsApp

How To Contact ABSA

If you have any issues with the reward system of the bank, you can contact the bank through one of the means it has created, all of which are easy and straightforward. Here are ways to contact the bank for support or if you want to cancel the reward system:

  • Physical Location: Walk into any ABSA branch closer to you
  • Phone number: 0861 78 88 88
  • Email: [email protected]
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Tim van der Walt
Tim is another of our talented writers, the one who plays music on replay, drinks more coffee than beer, plays video games, and reads poetry. In between, Tim reviews products, write about computers, games, and talk tech and arts. If there is a WIII, he thinks it could be caused by bad writing.
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