Regálate Loyalty Program




General Rules and Regulations:


1. Purpose of the program

The Bank has agreed to offer the cardholder a loyalty program that goes under the name of Regálate, which provides benefits in the form of points that can be used to purchase goods and services at any of the establishments affiliated to the Regálate program. The cardholder understands and accepts that each of the companies that participate in said program shall be individually responsible to the cardholder for duly complying with these rules and regulations.


2. Program duration

This program shall have an indefinite term of duration. However, this could be modified at any time by the Bank in accordance with its sales policies. The information contained in these rules and regulations shall remain in force unless they are made void by a new set of amended rules and regulations, or affiliated establishments leave or join the program, in which case these rules and regulations must be modified. These affiliated establishments are responsible for exchanging the points held by the cardholder for the article(s) or service(s) he or she requests.


3. Amendments to the program

The Bank reserves the right to amend at any time the rules and regulations governing the Regálate Loyalty Program, as well as its provisions, benefits, rewards, the term of validity of the points 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. All this means that the Bank may introduce certain changes to its Regálate Loyalty Program which could affect, without in any way being limited to, the participation of affiliated establishments, the rules and regulations governing the accumulation of points and the tables for obtaining points.


4. Canceling the program

The Bank reserves the right to terminate the Regálate Loyalty 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 points 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.


5. Program participants

The Regálate Loyalty Program is only applicable in the case of all those affiliated establishments participating in such and which the Bank accepts, reserving the right to include or remove these as it sees fit. Upon exchanging points for rewards, the cardholder tacitly accepts the general terms and conditions laid out in these rules and regulations or in any publication relating to the Regálate Loyalty Program. A list of establishments affiliated to the Regálate Loyalty Program can be found in the Regálate Rewards Catalogue as issued by the Bank.


6. About The Point-Based Rewards

The cardholder may request a point redemption certificate at any of our branch offices, which is issued within the time frame given by the Bank and this in turn can be taken to the corresponding affiliated establishment or travel agency. Consequently any complaint that the cardholder may have with regard to airline tickets, products, merchandise or services obtained with his or her redeemed points must be directly taken up with the affiliated establishment or travel agency in question. No gift certificates shall be issued when points are exchanged for cash, since the corresponding amount shall be automatically credited to the holder´s credit card account, by means of a cashier´s check or a credit note.

The Bank shall not be held responsible for forged, lost, stolen or expired certificates nor for the loss of reservations.

Each certificate shall remain valid for the term therein stated and the cardholder shall be responsible for using this during the timeframe thus specified. Should its period of validity expire before it is used, the cardholder shall no longer be entitled to lodge a complaint with the Bank.

The Bank shall not be held responsible for the stocks maintained by each affiliated provider of goods or services, nor for the quality of such nor for any discontinued product or service for which the cardholder intends to redeem his or her points.

The points 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 of the amount of accumulated points 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.

Accumulated points may be exchanged for gift certificates issued by affiliated establishments or travel agencies, based on the tables of rewards that the Bank should publish for this purpose. Points may be used to acquire products, merchandise or services at any of the establishments the Bank may have appointed and which shall be expressly stated on the corresponding certificate.

In order to exchange points for certificates or other 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 points shall be exchanged until this situation is remedied. The cardholder shall lose his or her entire points upon remaining in arrears for 60 days or more and shall no longer be entitled to claim these.

Credit card points may not be purchased, sold, transacted or negotiated, neither may they be used to supplement points accumulated by other different cardholders, nor shall their term of validity be extended upon expiry.

Certificates should be used in their entirety and cannot be exchanged for cash at affiliated establishments. Once a certificate has been issued, it shall be non-transferable and therefore shall only be used by the beneficiary to whom it is made out. This certificate can only be redeemed at the affiliated establishment therein stated and for the goods or services therein described. Certificates cannot be used in conjunction with special offers or other promotional discounts. The holder of the certificate must produce his or her personal ID documents when presenting such at an affiliated establishment. Should the value of the goods and services be lower than the value stated on the certificate, the establishment, at which this is exchanged and based on the policy in place, may decide to issue another gift certificate or a credit note for the difference. Should the value of the goods or services be higher than that stated on the certificate, the client should make up the difference.

Certificates can only be exchanged for rewards at affiliated establishments subject to the latter´s ongoing participation in the Bank´s loyalty program.

The Regálate Rewards Catalogue can be found on the Bank´s website. On the other hand, the Bank reserves the right to select the means in which the Regálate Rewards program is published as well as the frequency of such, without the need for prior notification. The Bank also reserves the right to modify the terms and conditions stipulated for obtaining rewards, as well as the number of points required for such. The Bank may also decide to eliminate rewards from the catalogue based on reasons of expediency.


7. Accumulating points

As of the date on which the credit card is activated, points shall accumulated on all purchase made with such as follows:

  • One point for every US dollar spent on card purchases or the equivalent in local currency for all credit cards covered by the Regálate Rewards Program. The maximum limit for points thus accumulated is set out in Annex A of the credit card contract.
  • The Bank reserves the right to stage promos for different amounts of points as opposed to the points normally accumulating on credit card purchases.
  • It is expressly understood that no points 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 points accrue on purchases made with stolen or lost credit cards, nor while the cardholder remains in arrears with his or her credit card payments. 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 points accumulating on his or her credit card account shall be removed from the system and therefore cannot be claimed by the cardholder.

8. Maximum amounts of points to be accumulated

The maximum amounts that can be accumulated are 60,000 points in the case of the Classic and Gold Regálate Credit Cards, 100,000 points per year for the Platinum Plus MasterCard and 150,000 points per year for the Preferential MasterCard Black.


9. Transferring points between accounts

Should the cardholder have various different accounts, it shall be understood that the points accumulating for these same shall be kept separately. However, the client may request that these points be added together in order to obtain a reward of greater value. However, points belonging to third-party accounts may not be joined with those of the cardholder.


10. Sending information to cardholders

Regálate Rewards is a personalized program. 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 status 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.


11. Exchanging points for Air Panama tickets

Before making reservations with this airline, the cardholder should apply for a redemption certificate from the Bank. Subject to seating availability. Once the airline ticket is issued, any change to the date or route is subject to the corresponding surcharge. The Bank shall not be responsible for the cardholder losing his or her reservations.


12. Exchanging points for cruises

Before making reservations with the travel agency, the cardholder should apply for a redemption certificate from the Bank. Itineraries and cabins shall be subject to availability. Should there be no available cabins for the tariff established in the Regálate Rewards Program, the client must make up the difference. The Bank shall not be responsible for the cardholder losing his or her reservations.


13. Exchanging points for hotel accommodation or promo tourist packages

Please see our Regálate Rewards Catalogue for specific descriptions and the corresponding restrictions of all those promo tourist packages offered


14. Reviewing accumulated points

The Bank reserves the right to review the cardholder´s balance of accumulated points. The redemption of points 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 withdraw all those points that have been erroneously deposited in the cardholder´s account, as well as to deposit additional points as a result of promo campaigns to be opportunely announced for the purpose of compensating the loyalty shown by the client or as a gesture of goodwill on the part of the Bank. For the effect of these bonus points, the Bank reserves the right to allocate these to a portion or an entire segment of cardholders enrolled in this program, based on the parameters of the promo being staged, or as considered appropriate, without this constituting any obligation on the part of the Bank to issue said bonus points to all the cardholders covered by this program.


15. Membership

The Bank reserves the right to cancel a cardholder´s membership of this program when, in the Bank´s opinion, any fraudulent use or infraction 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 points, privileges and benefits. Whenever a participating credit card is canceled, the rewards accumulated as part of the program are automatically eliminated from the system and cannot be used by the cardholder.


16. Expiry of accumulated points

Points remain valid for a term of five years, providing the associated credit card is in full force and effect and in compliance with all that set out in Sections 6 and 7 of these rules and regulations. The expiry term for accumulated points is set at 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 points remain valid for a term of five years, however, in order to conserve these points 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 points 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 points, after giving cardholders prior notice of such. Compliance with the above shall apply as of December 2012 and continue until whenever the Bank should consider expedient.


Valid as of September 1 2011. Latest Revision: October 2012.