Pay With Rewards (PWR) Program Terms And Conditions

PAY WITH REWARDS (PWR) PROGRAM TERMS AND CONDITIONS

Effective Date: January 1st, 2025

Thank you for participating in the Commonwealth Bank Ltd. Pay with Rewards (PWR) program in partnership with Mastercard. By enrolling in or using the PWR program, you agree to be bound by the following terms and conditions:

1. JH Eligibility

• The PWR program is available to holders of Commonwealth Bank Ltd. Mastercard Standard, Gold, Platinum, and Black cards.
• New cardholders must enroll in the PWR program through the CB Wallet App, available on iOS and Android platforms.

 2. Earning Points

• Points are earned on eligible purchases made with your Commonwealth Bank Ltd. Mastercard, subject to the bank’s discretion. Not all transactions are eligible to earn points.
• Points are calculated as a percentage of each eligible transaction as follows:
  1. (a) Standard Card: 0.25% of the eligible transaction amount.
  2. (b) Gold Card: 0.75% of the eligible transaction amount.
  3. (c) Platinum Card: 1% of the eligible transaction amount.
  4. (d) Black Card: 1.25% of the eligible transaction amount.
• Points are not earned on transactions at ATMs, cash advances, balance transfers, fees, interest charges, or any other transactions excluded by the bank’s policy.
• Points are rounded to the nearest whole number and will be credited to your PWR account within 30 days of the transaction posting date.

3. fH Redemption of Points

• Points are redeemable at a rate of 1 point = $1 USD.
• Points can only be redeemed through the CB Wallet App, available on iOS and Android platforms.
• Points may be redeemed for eligible transactions, including but not limited to, statement credits, gift cards, and other offers available within the CB Wallet App.
• Once points are redeemed, the transaction is final, and points cannot be refunded or returned.

4. CB WALLET APP USAGE

• By using the CB Wallet App to enroll in the PWR program and redeem points, you agree to the Commonwealth Bank Ltd. App Terms of Service and Privacy Policy, in addition to these PWR Program Terms and Conditions.
• The CB Wallet App may be subject to updates and maintenance, during which the ability to
  redeem points may be temporarily unavailable.

5.  EXPIRATION AND FORFEITURE OF POINTS

• Points earned under the PWR program expire after 2 years.
•  Points will be forfeited if your Commonwealth Bank Ltd. Mastercard account is closed, suspended, or in default.
• Commonwealth Bank Ltd. reserves the right to adjust points for returns, chargebacks, and other adjustments.

6. CHANGES TO THE PROGRAM

• Commonwealth Bank Ltd. reserves the right to modify, suspend, or terminate the PWR program, or any aspect of it, at any time without prior notice.
• Changes may include, but are not limited to, modifications in point accrual rates, redemption options, program eligibility, and discretion on which transactions earn points.
• Notice of any such changes will be provided through the CB Wallet App or via your registered email address.

7. PROGRAM LIMITATIONS

• Points have no cash value and are non-transferable.
• Points cannot be transferred between different card accounts or to other individuals.
• Commonwealth Bank Ltd. is not responsible for any unauthorized access to your account or any unauthorized transactions.

8. LIABILITY

• Commonwealth Bank Ltd. and its affiliates, including Mastercard, are not liable for any direct, indirect, incidental, or consequential damages arising from the use or inability to use the PWR program or the CB Wallet App.
• Commonwealth Bank Ltd. reserves the right to terminate or disqualify any participant from the PWR program for any violation of these Terms and Conditions or any fraudulent activity.

9. GOVERNING LAW

• These Terms and Conditions are governed by and construed in accordance with the laws of The Commonwealth of The Bahamas.

10.  CONTACT INFORMATION

• For any questions or concerns regarding the PWR program, please contact Commonwealth Bank Ltd. customer service at or at cbcontact@combankltd.com 242-394-CARD(2273).