ČSOB is ending the World of Awards. How do you use accumulated points?

‘) let reklamaClanekText = document.querySelector(‘# ReklamaClanek .in p’); if(reklamaClanekText!== null){ if(Math.round(Math.random()) === 0){ reklamaClanekText.innerHTML = ‘All finances in one application. Simple, clear, safe. More HERE‘; }else{ adClanekText.innerHTML = ‘Save with great interest. No charges. More HERE‘; } } }

Also, this new program is fundamentally based on collection points – “digital coins” called Kate Coins (KTC). They are named on virtual support Kate – developed and promoted here as well by the entire KBC group.

However, the Kate Coin program is only available in the ČSOB Smart banking application – ie on a smartphone, not in internet banking on a computer. The bank presents it as “excluded”; but the main aim is to attract clients to use the application – similar to what some banking competitors do or for example business chain.

The possibilities of how to collect Kate Coins and why you should use them are still small – just compared to the previous World of rewards. In practice, it is a closed system within the organization ČSOB: the client receives digital coins for using some banking services, and then they can use them again for banking products only (except discount on train tickets).

The maximum – 500 Kate Coins – can be obtained for arranging a loan worth at least 20,000 or for a home loan worth at least 70,000. To arrange regular deposits ČSOB Drobné the bank will give 300 coins. Fifty Kate Coins are available each for setting up a Plus Konto current account, savings account and term deposit. You get twenty KTC for creating a savings account. After five Kate Coins, the bank will give you credit for sharing the cost (but only through Kate’s virtual assistant, when you ask her to share the spend and the generated QR code to share), read the payment QR code (again only through Keit ), displaying the payment card number or the PIN of the card in the mobile application (even without Keit) or paying ​​with a ČSOB card for tickets or parking in the DoKapsy application. You also get five KTC for signing up pay per contact or until sent through Kate.

For 200 Kate Coins, you get a discount of CZK 200 for annual travel insurance for your payment card. For 70 KTC, there is a discount of 70 CZK for payment card loss and theft insurance. For 30 KTC, you can use a 30 CZK discount on train tickets bought and paid for ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​ Thanks to Kate Coins, bank fees related to the use of cards can also be reduced. One hundred KTC can then be converted into one hundred crowns for the first three deposits through the Petty service worth at least CZK 300.

The program assumes that it will be possible to obtain digital coins also for using the products of external partners, ie for purchases and services outside the ČSOB group. Similarly, their capabilities could also be expanded. However, it is still unclear whether it will even come close to the World Awards in terms of scope and quality.

For the clients of the parent bank KBC in Belgium, Kate Coins began to work in practice from 2023. There, too, “coins” are collected mainly for using the services of the KBC group – in addition to the bank, it is, for example, an insurance company or a pension company. Since last fall, the system there has expanded to include purchases from several external partners: Amazon, Foodmaker, Omnia Travel, Brussels Airport, Filou & Friends ( children’s clothing), Lucien (bike sales and rentals) or Poppy (shared cars).

From the communication of the KBC group, it is clear that they mainly try to support ecological, socially responsible and sustainable projects – for example, a loan for an electric bicycle or an investment in a socially responsible asset. There are still very few participants in the Belgian project compared to several dozen in the World of Czech Awards.

Until now, Czech customers have earned points for World of Rewards not only for using ČSOB Group products, but practically also for every payment​​​​​​​​with a debit or credit card ( paradoxically, except for the ČSOB Premium program). In addition, bonus points have been added for purchases from certain partners.

Accumulated points in the World of Rewards can be used either for a discount on bank products (travel insurance), tax receipt or investment in construction savings or pension savings (previously also as a credit card payment). Another option is to convert points into a donation to charity. The third option is vouchers for discounts to partner stores: for example, for 1,000 points, there was a discount of 1,000 CZK at VínoVýhodně.cz, KávaVýhodně.cz, Ráj svítodel or Allegria, 500 points can be exchanged for a discount of 5 Lékna .cz , Pompo, Mall cz and the like.

In addition, World of Rewards works as a classic discount program, which – regardless of the accumulated points – offers more than a hundred discounts in the form of cash back or codes. The most attractive now include a 10% discount on Flixbus tickets, 25% on Albatrosmedia.cz, 10% on Knihcentrum.cz, 10% on KVelektro.cz, 4% on Booking.com or 40 pence per liter of fuel at EuroOil gas Stations.

When ČSOB launched Kate Coin this summer, it assured users that World of Rewards will not just end: “World of Rewards and Kate Coin are two different programs. Even if you start using Kate Coin, World of Rewards will not disappear and you will continue to collect points for it.”

Now the bank promises that “the special offers and competitions you are used to will remain.” Elsewhere, he writes that additional partner offerings will be added “over the next year.” However, she has not yet revealed more details, and did not specify them even when asked by the website Peníze.cz.

“At the beginning of next year, offers from our partners and other rewards will be added to the Kate Coin program,” said spokeswoman Michaela Průchová, without explaining whether the number and quality of offers from outside compared to the previous World Awards just from January.

It is likely that the current range of rewards will not be automatically transferred to the new program from January also indicated by the way the bank ends World of Rewards: the points must be can be used (or removed) before the end of May – they cannot simply be transferred to the new program, ie exchanged for Kate Coins.

Share the article before I delete it