08 March 2006

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Business Today

BOV to pay customers who use its services

Bank of Valletta is launching a new and innovative loyalty scheme aimed at rewarding those customers that use its Card and 24x7 services. The scheme, through which the Bank will pay cash for specific transactions made by BOV 24x7 subscribers, is the latest of a number of initiatives by Bank of Valletta aimed at rewarding customers for their loyalty. It is in line with the Bank’s brand promise principles of being supportive to customers and taking a long-term view of their requirements.
The eligible transactions together with the amount that BOV will be paying the customer for each transaction are: payment to third parties through Internet and Phone Banking – 5 cents per transaction (up to a maximum of 2 transactions a month); payment of bills through Internet and Phone Banking – 10 cents per transaction; request for foreign drafts and bill payable through Internet and Phone Banking – 5 cents per transaction; request for Swift transfers through Internet and Phone Banking – 10 cents per transaction; deposit into own BOV credit card account – 5 cents per transaction (up to a maximum of 1 deposit in every card a month); payments for goods and services at retail outlets through EPOS terminals using BOV cards – 3 cents per transaction.
Speaking about this latest innovation, BOV’s Chief Executive Officer, Tonio Depasquale commented, “When we say that we value our customers’ business we really mean it. The innovative loyalty scheme we are launching today introduces a new concept on the market. It is effectively a straightforward way for our customers to earn cash when carrying out banking transactions.
“This new scheme shows how BOV is putting into practice a core principle of its brand promise – the principle of mutuality. Not only are we encouraging customers to use straightforward and efficient channels to conduct their transactions, but we are also rewarding the customer for doing so.
“Everybody stands to gain from this business philosophy – the customer will gain through a better, more efficient service and earning cash in return; the Bank will gain by making more efficient use of its resources and, in turn, using these to continue to improve on the quality of service it offers to the customer,” said Depasquale.
This is a time-bound scheme that came into affect on 1 March and will be valid on all transactions made until 30 June 2006.
Further information can be obtained from any BOV branch, on the Bank’s website www.bov.com, or by calling the BOV Customer Service Centre on 2131 2020.

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