General Rules and Regulations
These rules and regulations govern the relationship between Banistmo, (hereinafter the Bank) and its clients with regard to its Cash Back Loyalty Program.
Purpose of the program
The Bank encourages the frequent use of its credit cards by providing cardholders with certain benefits consisting of returning a portion of the amount spend on card purchases. These benefits are credited to the cardholder´s principal credit card account, regardless of whether the corresponding card purchases are made by the principal cardholder or the supplementary holders of the same credit card, as well as the currency in which these were made.
This program shall have an indefinite term of validity. Nevertheless, said term may be modified at any time in keeping with the Bank´s sales policies. The information herein contained shall remain valid until rendered void by any further rules and regulations.
Amendments to the program
The Bank reserves the right to amend at any time the rules and regulations governing this program, as well as its provisions, benefits, the term of validity of cash-back rewards, maximum cash-back rewards accumulated either per month or per year, as well as special offers. The cardholder shall be informed of any amendments made to such via the means indicated on the credit card contract.
Canceling the program
The Bank reserves the right to terminate the program at any time, by notifying the cardholder 90 calendar days prior to the effective termination date or otherwise giving notice of such using the means of communication stated on the credit card contract. Should the cardholder not have exchanged his or her cash-back rewards in said period of time, the right to such shall be automatically extinguished and he or she shall not be able to claim against the Bank.
All those private individuals holding a Banistmo Cash-Back Credit Card may participate in this program. Cardholders are automatically enrolled in the program free of charge and no special membership application is required.
Purchases made using the Banistmo Cash-Back Credit Card entitles the cardholder to a percentage of the amount spent on all said purchases, both at home and abroad. The cardholder shall also receive certain promos offering additional cash-back percentages which the Bank may, at its own discretion, either add to or eliminate from the accumulated amount, without having to give the cardholder prior notice of such.
The benefits contained in these rules and regulations shall accumulate on a daily basis and remain available for their subsequent redemption. The maximum accumulated amount per credit card is set at $500.00 per year, and any excess over and above this amount shall be disregarded. The Bank reserves the right to increase this limit based on current promo campaigns.
The cash-back rewards accumulated by each cardholder shall be automatically recorded on his or her account, providing the cardholder is current on his or her credit card payments. The Bank shall inform the cardholder on the balance of cash-back rewards so far accumulated on his or her monthly credit card statement. The cardholder may consult information regarding his or her accumulated points through any of the Bank´s self-service channels.
The cardholder may request a cash-back reward redemption certificate at any of our branch offices. In order to exchange cash-back rewards, the credit card must be active and the holder current in all of his or her credit card obligations without having exceeded the authorized spending limit. Should the cardholder remain in arrears on his or her credit card payments for a period of 30 days or more, no cash-back rewards shall be exchanged until this situation is remedied. Should the cardholder remain in arrears for a period of sixty days or more, or is subject to special payment arrangements, or whose account has been written off or restructured or provided with special payment facilities by the Bank in order to remedy such default, the cash-back rewards accumulating on his or her credit card account shall be removed from the system and therefore cannot be claimed by the cardholder.
It is expressly understood that no cash-back rewards shall accrue on charges for card renewals, commissions, taxes, interest, account deposits, cash advances, casino payments, purchases made with traveler's checks, balance transfers (except in the case of special promos where specifically stated). Neither shall cash-back rewards accrue on card purchases should the card be stolen or lost.
For the purpose of exchanging accumulated cash-back rewards, the client may request that the amount due be applied to the balance owing on his or her credit card. This credit shall be applied in US dollars, 24 hours subsequent to having made the request.
Accumulated cash-back awards may not be purchased, sold transacted or negotiated, neither may they be used to supplement rewards accumulated by other different cardholders.
Expiry of accumulated cash-back rewards
Cash-back rewards expire after a period of five years providing the credit card is still valid. Accumulated cash-back rewards have a rolling expiry period of 60 months, that is to say, those accumulated in Month 1 expire in Month 61 and so on, should they not have been already redeemed.
Accumulated cash-back rewards remain valid for a term of five years, however, in order to conserve these, the cardholder must use his or her card for purchasing goods or services or withdrawing cash. If the cardholder fails to do so within a maximum term of six months, his or her accumulated rewards shall expire and he or she shall no longer be entitled to the full amount.
The Bank reserves the right to change or set an expiry limit for accumulated cash-back rewards, after giving cardholders prior notice of such.
Loss of accumulated benefits
Cardholders who remain in arrears for sixty days or who fail to use their credit card for purchasing goods and services or withdrawing cash during a term of six consecutive months, beginning on the date of the last purchase or withdrawal, shall automatically lose their cash-back rewards accumulated on the expiry date of said periods and shall no longer be entitled to said rewards.
Sending information to cardholders
All correspondence and promo material relating to this program is sent to the address appearing on the holder´s credit card statements, or otherwise to the client´s address as registered with the Bank´s credit card system. The cardholder shall be responsible for notifying the Bank of any changes in his or her address, marital address or personal information. Notice of such shall be given by filling in a data maintenance form that can be obtained at a branch office. Any request for modifying his or her data must bear the cardholder´s signature.
Cash-back reward reviews
The Bank reserves the right to review the cardholder´s balance of accumulated rewards. The client´s membership of the Cash-Back Program may be suspended until such a time any observed discrepancy or anomaly is remedied to the satisfaction of the Bank. The Bank reserves the right to deduct any amounts erroneously credited to the client´s account as well as to award additional benefits based on special conditions issued as a result of promo campaigns, opportune notice of which shall be given to the cardholders.
The Bank reserves the right to cancel a cardholder´s membership of this program, when in the Bank´s opinion any fraudulent use has been committed with regard to the accumulation of points, benefits, use of rewards or any other condition stipulated in the rules and regulations governing this program. Upon being disqualified, the cardholder shall lose all his or her rights to membership, including his or her accumulated cash-back rewards, privileges and benefits. Whenever a participating credit card is canceled, the rewards accumulated as part of the program automatically eliminated from the system and cannot be used by the cardholder.
Valid as of November 1, 2012