Owning and running a small business is undoubtedly complicated. The only people who know this better than the owners themselves are small business experts at Standard Bank. That’s why the financial institution has introduced UCount Rewards for Business, an SME-focused spin-off of the immensely popular UCount Rewards.
Created specifically for sole proprietors, close corporations and propriety limited companies with an annual turnover of R20-million or less as well as small agricultural businesses with an annual turnover of R3-million, the programme allows SME owners access to a number of benefits including Card Rewards, Fuel Rewards, Retailer Rewards and Travel Rewards.
All the benefits are designed to facilitate the managing and operations of the small-enterprise business model.
Fayelizabeth Foster, Head of Loyalty and Rewards at Standard Bank, explains the programme’s mechanisms: “Just like UCount Rewards for individuals, members of UCount Rewards for Business can collect rewards points simply by using their Standard Bank Business Credit, Cheque or Debit Card to pay for the everyday running of their operations. The rewards begin as soon as the business joins the programme and the first purchase is made, and continues as long as the business is actively using their cards and moving up tier levels.”
Using the above-mentioned cards, members can collect the following in rewards points:
- Card Rewards – Up to 1.25% back on all purchases;
- Fuel Rewards – Up to R2 back on every litre of fuel purchased at Caltex;
- Travel Rewards – International – Up to 40% back on international flights on Etihad Airways, and an instant 15% discount when booking through the UCount Rewards Travel Mall;
- Travel Rewards – Domestic – Up to 40% back on all domestic flights booked through the UCount Rewards Travel Mall; and
- Retailer Rewards – Up to 5% back for purchases online and/or in-store at any of our Rewards Retailers.
Members can also collect:
- Tier Rewards – Up to 400 Tier Reward points each month depending on their Rewards Tier
- Dual Membership Rewards – 3600 Dual Membership Rewards if they hold membership of both personal and business programmes.
- Social Rewards – Up to 760 rewards points each month on Social Media for members who link their Twitter account.
Ten (10) reward points are equal to R1, and the number collected and how fast depends on two variables, i.e. The Rewards Tier (the higher the rewards tier, the more points are collected) and the value of monthly card spend.
“There are five rewards tiers which are dependent on the number of Standard Bank products and services the business chooses to use on a monthly basis,” Ms Foster continues. “The higher the rewards tier, the more rewards points can be collected from qualifying purchases.”
One of the differentiators of UCount Rewards for Business is the embedded Business Support Services. The programme was designed to reward members for their business banking behaviour. It addresses specific business needs and offers services, in exchange for rewards points – that are crucial to successfully running a business.
These Business Support Services include Marketing & Sales, Legal & Tax, Technical Support and HR Consult. As Standard Bank understands that business needs change, UCount Rewards for Business members have the prerogative to switch their chosen Business Support Service every six months, free of charge.
UCount Rewards for Business – Frequently Asked Questions
Q: What types of businesses qualify to be on the UCount Rewards for Business programme?
Small enterprises namely Sole Proprietors, Close Corporations and Proprietary Limited Companies with an annual turnover of R20-million or less, as well as small agricultural businesses with a maximum annual turnover of R3-million qualify to sign-up for the programme. Businesses are, however, required to hold a Business Current Account or BizLaunch Account to qualify.
Q: How can a business collect rewards points and what is the value of reward points calculated?
Rewards points are collected when a Business Credit, Cheque or Debit Card is used for everyday business purchases – 10 rewards points equal R1. Members have the opportunity to collect additional rewards points in three ways:
- Dual Membership Rewards – By being a member of both UCount Rewards in their personal capacity and UCount Rewards for Business programmes, 3600 rewards points are awarded into the rewards account annually – which translates to the annual membership fee.
- Tier Rewards – Up to 400 Tier Rewards points are allocated monthly according to the members’ tier.
- Social Rewards – Up to 760 rewards points monthly on Social Media for members who link their Twitter account and post using #UCountBusiness.
Q: I understand that the more banking products and services I use, the higher my rewards tier. How are tiering points calculated?
There are five rewards tiers – the higher the rewards tier, the more rewards points are collected from qualifying purchases. Tiering points are calculated according to the number of products and services the business uses on a monthly basis. There are 16 tiering rules which enable members to easily get tiering points each month.
For more information on how to calculate your rewards tier, use the interactive ‘Tier Estimator’ on www.standardbank.co.za/UCountbusiness
Q: How can a member collect rewards points?
When using their Standard Bank Business Credit, Cheque or Debit Card, members will collect:
- Card Rewards – Up to 1.25% back on all purchases.
- Fuel Rewards – Up to R2 back on every litre of fuel purchased at Caltex
- Travel Rewards – International – Up to 40% back on international flights on Etihad Airways and an instant 15% discount when booking through the UCount Rewards Travel Mall.
- Travel Rewards – Domestic – Up to 40% back on all domestic flights booked through the UCount Rewards Travel Mall.
- Retailer Rewards – Up to 5% back for purchases online and/or in-store at any of our Rewards Retailers.
Members also collect:
- Tier Rewards – Up to 400 Tier Rewards Points each month depending on their tier. These rewards points are allocated irrespective of Card spend.
- Dual Membership – 3600 Dual Membership Rewards if they hold membership of both the UCount Rewards and UCount Rewards for Business programmes.
- Social Rewards – Up to 760 rewards points on social media for members who link their Twitter accounts and tweet positive interactions with #UCountBusiness.
For full information on how to collect rewards points, visit www.standardbank.co.za/UCountbusiness
Q: I am already a member of UCount Rewards in my personal capacity. If I own a business, can I collect rewards points into one account, say my personal account, and then add these to the other account (the Business account) so that I can maximise my collections and redemptions?
No. The two programmes run separately. However, members will be rewarded if they belong to both programmes, by receiving Dual Membership Rewards to the value of 3 600 rewards points per annum, which will be allocated to the members UCount Rewards for Business account.
Q: How does a member redeem rewards points?
Redeeming rewards points is just as easy as collecting them. Rewards points can be redeemed for:
- Fuel at Caltex
- Local and international travel deals on the UCount Rewards Travel Mall
- Great deals online and/or in-store at our Rewards Retailers
- A huge range of items on the UCount Rewards Online Mall
For additional enquiries, please contact Standard Bank
