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VTB clients will receive cashback for balances on their accounts
VTB offers its customers the opportunity to activate additional cashback categories to save money on their current account. The innovation will be available to users by the end of this year. This was announced by VTB Senior Vice President Dmitry Breitenbicher at the FINOPOLIS 2024 forum.
To activate additional cashback categories, customers must maintain at least 10,000 rubles on their current account for 30 days. The larger the balance, the more cashback categories the user can choose. As a result, the maximum number of categories that a VTB client can choose increases to 12.
Salary Bank customers already have access to 4 categories, and they can get 1 category as part of a VTB Plus subscription, while 1 category has been added for using credit cards and up to 6 categories for storing funds in their accounts. It works.
"Every third active VTB client will choose the category they need every month, increasing the number of available options from 4 to 12 by the end of the year. This will ensure serious growth of the overall royalty market in Russia. We expect an increase in cashback volumes by 50-65% across the market, taking into account the increase in transaction turnover. By the end of the year, clients will receive 420 billion rubles from banks," said Dmitry Breitenbicher.
VTB's loyalty program was updated in May 2024, and in four months, customers received cashback in rubles twice as much as they previously received in the form of bonuses. Interest in the program is growing every month. By the end of September, 55% of our active customer base chose the cashback category.
The categories with the greatest savings in September were “cashback on all purchases” - 28.4%, “supermarkets” - 20.6%, “cafes and restaurants” - 14.1% and “pharmacies” - 8.7%.
The list of categories containing cashback is updated monthly, and the bank, using analytical models, forms a list of categories and cashback amounts for each client.
Ruble cashback is a partial refund of the purchase price as a percentage of the transaction amount on the VTB card in the form of bonus ruble accruals, which are converted into cash credited to the participant's account from the bank in the amount of 1 bonus each month. Ruble = 1 ruble in the manner established by the rules of the loyalty program.
Detailed information about the loyalty program, accumulation and payment of cashback, restrictions, conditions for providing banking products and tariffs can be found on the website vtb.ru and in all branches of the bank.