Old Mutual will immediately give you a R50 voucher to spend at a fast food outlet, or up to 250MB of data, just for registering on its new "smart saving mindset" platform, Old Mutual Rewards.
The catch is that you have to share your ID number and cellphone number – and if you aren't careful, you'll give Old Mutual permission to send you marketing messages.
The company launched the portal on Monday "to help South Africans get into the habit of making smart money decisions."
But it is not just for Old Mutual customers; anyone with a South African ID number and a cellphone can register.
Registration alone – with no other action – is worth 500 points. And those 500 points can immediately be swapped for a fast-food voucher worth R50, under the scheme's spending rules.
The 500 points can also we swapped for R50 worth of fuel at Total service stations, for airtime across all the cellphone networks, and up to 250MB of data for Telkom customers.
Fast food outlets for which vouchers are available include KFC, Nando's, Steers, Burger King
Gift cards are also available for retailers such as CNA, Outdoor Warehouse, Red Square, and Dischem.
For many of the fast food and retailers 10 points are worth R1, so the initial 500 points come to a R50 voucher. In some instances, though, voucher values are fixed, so that 150MB of data on Cell C cost 420 points, while 390 points will get you 250MB on Telkom.
Here is how to register and claim vouchers.
To complete registration you have to enter a four-digit number SMSed to the cellphone number. So no, it won't be that easy to cheat the system and claim multiple vouchers.
Old Mutual still believes passwords with numbers and special characters (which are hard to create and remember) are stronger, even though that is an old and discredited idea.
Then again, it is giving away free money, so...
You may want to hear what Old Mutual has to say, in which case the default options, to receive text messages from the company, will be just fine. If not, remember to un-tick the box.
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