- Orbits accumulated in the Program have no cash or monetary value and thus no cash can be claimed by the Customer from Bank against accumulated Orbits.
- Orbits accumulated will be shown in a monthly e-Statement sent to the Customer’s provided email address. If e-Statement is already registered the same email address will be utilized.
- Bank reserves the right to add, amend, change, terminate any eligible product and service categories at any time, amend the eligibility and participation criteria, limit or change the value of Orbits at its sole and absolute discretion, with or without notice to the Customer and without liability whatsoever on the part of the Bank.
- Bank reserves the right at its own discretion to add, amend, change, terminate any Orbits earning rule with or without prior notice to the Customer.
- Bank reserves the right at its own discretion to amend or forego Orbits for certain types of transaction, transactions at certain outlets or outlet categories, at its sole and absolute discretion and with or without prior notice to the Customer and without liability whatsoever on the part of the Bank.
- Bank reserves the right to withdraw/discontinue the Rewards Program, terminate participation in the Rewards Program and/or revoke any accrued Orbits
- Bank reserves the right to withdraw any/all Orbits earned by Customer in case of default by the Customer on any IBG relationship held by the Customer with Bank.
- Bank reserves the right to add, amend or change the frequency of earning Orbits with or without prior notice to the Customer.
- The eligible product must be in active state for earning
- Orbits will not be redeemed against 180 days past due (DPD) plus delinquent accounts and all earned Orbits will be expired immediately.
A. Current/Savings Accounts:
- Orbits shall only accrue on Local Currency (LCY) current and savings accounts. Foreign Currency (FCY) accounts and both LCY & FCY Term Deposits shall not qualify for Orbits accrual.
- Orbits shall be earned on opening a new account, making credit transactions and growing and maintaining balances on monthly/quarterly basis or as per details mentioned in the Rewards Rules Guide available online
- Rewards Orbits shall be earned only on Customer initiated credit transactions such as deposits made by customers, transfers of funds, remittances and online credit transactions.
- No rewards Orbits shall be awarded on Debit
- No rewards Orbits shall be awarded on the following transactions:
- Reimbursement into account
- Refunds made into account
- Adjustment credits in account
- Profit disbursements in account
- Funds transfer between customers own accounts
- Term Deposit principal liquidation into account
- Bank reserves the right at any time to vary the nature or category or type of transactions that qualify for earning Orbits under the reward program.
- Orbits will be credited on a monthly or quarterly basis on meeting the required Orbits earning criteria as defined in the rewards rule guide.
- Accumulated Orbits on a closed current or saving account once closed will be withdrawn
- In case of Joint Account (either or survivor joint accounts only), both primary and secondary account holders shall be able to earn and redeem Orbits.
B. Debit Cards
- Orbits shall be earned on new card activation and on eligible card spend stated in Rewards Rules
- Orbits earned by a Supplementary debit card holder will be credited to the account of the Basic debit card holder and may be used only by the Basic debit card holder for redemption.
- Orbits will be credited after new card activation with first eligible transaction and eligible retail spend transaction posting.
- Card members will be given Orbits for all Retail POS Transactions net of Reversals. Transactions and reversals that do not qualify for Orbits are as follows:
- Cash Advances or withdrawals in local or foreign currency
- All Fees, Penalties & Service Charges
- Payments through ATM
- Bancatakaful Plans
- Disputed Transactions
- Own Account Transfers
- All types of reversals
- Accumulated Orbits on a debit card once closed or cancelled will be
- BAFL reserves the right to at any time vary the nature or category of Debit Card transactions that qualify for Orbits under the reward program.
C. Financing
- Orbits shall be earned on Musharakah Home Finance and Car Ijarah as stated in Rewards Rules Guide.
- Customers shall earn Orbits on disbursement of new financing and on good payment behavior of financing installments.
- Financing transfers or pay-offs within a year will not be eligible for any further Orbits earning.
- Accumulated Orbits on loan products will be withdrawn on maturity of the loan
D. Alternate Distribution Channels
- Orbits shall be earned on the enrollment of Alternative Distribution Channels (ADC) service(s) and making qualifying transactions across ADC channels as stated in Rewards Rules Guide.
- ADCs refer to Internet Banking, Mobile Application and Fee Based SMS Alerts,.
- Orbits shall be earned one-time only on the activation or enrollment of SMS alerts, Internet Banking or Mobile Banking. If service is cancelled and reinstated, no additional Orbits shall be earned.
- Orbits shall be earned on total number of transactions across qualifying ADC service(s) within a month as specified in Rewards Rules Guide.
- Payments made through debit card on Internet Banking or Mobile Banking will not qualify for spend transactions on debit cards. Such payments may earn orbits through the ADC transactions earn rule given other qualifying criteria’s are met as covered under the Rewards Rules Guide.
- Bank reserves the right to add, amend, change, and remove any ADC service(s), nature of qualifying ADC transactions and frequency of Orbits accrual for the Reward Program at any Orbits of time without prior notice to customer.
- Accumulated Orbits on Internet Banking, Mobile Application and SMS Alerts will be withdrawn on cancellation of subscription of the facility
E. BancaTakaful
- Orbits shall be earned on issuance of new policy after deduction of premium amount, successful renewal of policies and on good payment behavior of policy premium amount as stated in Rewards Rules Guide.
- Orbits shall not be earned within the free-look period of the policy defined at the time of Bancassurance policy issuance.
- Accumulated Orbits will be withdrawn on cancellation or maturity of the bancassurance policy
F. Investments
- Orbits shall be earned on availing new investment policy, size of the investment policy and reinvestment in existing policy as stated in Rewards Rules Guide.
- Orbits shall be earned one-time at the end of the year on reinvestment regardless of the number of times reinvestment is done by the Customer.
- Accumulated Orbits will be withdrawn on cancellation or maturity of the investment product.