You can see the amount of your reward points and their expiry date by logging in to Swedbank’s internet bank. The expiry date indicates that the points will expire on that date and will be deleted from your reward account.
The validity period is calculated based on the reward account, for example, when paying with debit and credit cards (excl. American Express cards) a reward account will be created, to which reward points will accumulate for two years. When the two years is up, all points on the reward account will expire, incl. those collected even a month before the end of the two-year validity period of the reward account. Points are saved to the reward account on a regular basis and are valid for up to 2 years (excl. American Express cards). All points of a reward account will expire once the expiry date of the reward account arrives and all reward points have the same expiry date. For example, points collected a year ago expire at the same time as points collected a month before the expiry date.
Expired reward points can not be reinstated. We therefore advise you to use the points as early as possible, but no later than one day before the expiry date. The points you have earned earlier are annulled first on the expiry date and the new points earned for the transactions performed in the previous month are then added to your account. The new collection period begins on the same day
Example. The client has a debit card only. The card was automatically included in the reward programme on 1 October 2011.
- The client earned points with this card from 1 October 2011 to 30 October 2013.
- The first points were added to the client’s reward account on 8 November 2011 for transactions performed in October, the points for November were added to the account on 8 December 2011 and so on.
- The last points for this period were added on 8 November 2013.
- The points could be used until 6 December 2013, after which (on 7 December 2013) the points were reset to zero and the points earned in the previous month were then added to the reward account. The new collection period began on the same day.
NB! The expiry date of the points is not related to the expiry of the bank card, the issue of a new bank card or the change of your card type. It is made sure that you have an active bank card before a new reward period is activated.
Example. I have a credit card and a debit card.
A client using a credit card has joined the reward programme in November 2010. The existing credit card has already earned reward points and the points on the reward account already have an expiry date of 7 January 2012.
On 1 October, the client’s debit card is also added to the reward programme, the first points of which are added along with the credit card’s points for October on 8 November, and for November on 8 December etc. The points of the first period will expire with the expiration of the credit card’s points on 7 January 2012, therefore you should order a gift before that date. After this date a new validity period of the reward points will be activated according to the terms and conditions of the reward programme (7 January 2014; 7 January 2016, etc.).
Example. I only hold a debit card.
The client has a debit card only. On 1 October 2011 all of the bank´s debit cards are automatically added to the reward programme.
The client will earn points with this card from 1 October 2011 to 31 October 2013.
The first points will be added to the client’s reward account on 8 November 2011 for transactions performed in October, the points for November will be added to the account on 8 December 2011 and so on.
The last points of the period will be added on 8 November 2013.
The points must be used before 7 December 2013 as they will be reset to zero on 7 December 2013.
In order to provide a smooth and quick customer service, the initial expiry date of the points earned by holders of debit cards are distinguished based on the card type. As a result, some clients are able to earn points for longer than 2 years during their first collection period. After that, their validity periods will continue as regular two-year periods (for example, points on Senior Cards will expire on 7 April 2016; 7 April 2018 etc.).
Different lengths of the first validity period for clients who only hold a debit card:
- Visa Electron 07.12.2013
- Maestro 07.03.2014
- Private Banking Card 07.03.2014
- Senior Card 07.04.2015
- School Card 07.05.2014
- Youth Card 07.05.2014
- Student Card 07.05.2014
If a client has more than one active debit card at the time of 1 October 2011, the first validity period will be determined based on the card type with the longest collection period. For example, if a client has a Visa Electron debit card and a Student Card, their first expiry date will be 7 May 2014 based on the Student Card.
