Old Mutual Rewards
Earn points and use them for everyday rewards
Old Mutual Rewards is a digital loyalty and financial wellness programme. You can join even if you do not currently own an Old Mutual product. Members can earn points from selected activities, qualifying financial products and certain OM Bank transactions, then redeem the points through available Rewards options.
Old Mutual Rewards is free to join. You do not have to be an existing Old Mutual customer. Members earn points through selected financial education activities, surveys, referrals, qualifying Old Mutual products, OM Bank activity and promotions. Most Rewards redemptions value 10 points at R1. Points can be used for vouchers, selected purchases, OM Bank or qualifying Old Mutual products, airtime and data, competitions or charity donations.
Old Mutual Rewards is entirely digital. You do not need a physical Rewards card. Your membership is linked to your Rewards account and membership number.
The programme should not be confused with cash back paid directly into your bank account in every case. Rewards points are programme points and are subject to the Old Mutual Rewards rules and the conditions of the partner where you choose to use them.
Who Can Join Old Mutual Rewards?
The programme is open to Old Mutual customers as well as members of the public who do not own an Old Mutual financial product.
Having qualifying Old Mutual products can affect the amount of points you earn and your membership tier, but the programme itself is open to qualifying non-customers.
How Old Mutual Rewards Works
How Much Are Old Mutual Rewards Points Worth?
This conversion is used for many vouchers, partner purchases, OM Bank redemptions, donations and other listed options.
Using the normal 10 points to R1 conversion.
Airtime currently has a different point conversion from most other listed redemption options.
The programme terms do not allow members to sell, barter or exchange points for cash. Points can only be used through the redemption routes made available by Old Mutual Rewards.
How to Earn Old Mutual Rewards Points
Learn about money
Members can earn points for selected financial education content, Moneyversity activities, assessments, calculators and other financial wellness activities made available through Rewards.
Use qualifying Old Mutual products
Certain insurance, savings, investment, lending, retirement and other Old Mutual products can earn Rewards points when the programme’s qualifying rules are met.
Use qualifying OM Bank products
Eligible debit and credit card activity can earn Rewards points when the monthly account and transaction criteria are met.
Surveys, referrals and promotions
Selected surveys, referral activities and promotional campaigns can also earn points. Allocations and eligibility can differ by activity.
Only qualifying products and activities included in the Rewards programme earn points. Do not assume that buying any Old Mutual product automatically creates a Rewards benefit.
Old Mutual Rewards Tiers
Old Mutual Rewards has five membership tiers. Your tier is mainly based on how many qualifying financial product categories you cover through selected Old Mutual products.
The programme currently lists ten possible financial product categories:
- Transactional.
- Lending.
- Funeral cover.
- Life insurance.
- Disability insurance.
- Severe or critical illness insurance.
- Savings and investments.
- Retirement savings.
- Income annuities.
- Short-term insurance.
Old Mutual says it can take up to 90 days between taking up or changing a qualifying product and the resulting tier status being updated.
How OM Bank Rewards Work
OM Bank customers can earn Old Mutual Rewards points from qualifying card activity.
| OM Bank product | Current potential earn rate | Main criteria |
|---|---|---|
| Personal Current Account debit card | 2.5% back in Rewards points | Deposit at least R2,500 during the month, make at least one recurring payment, complete at least five qualifying card transactions and keep the account active and not in arrears. |
| Personal Credit Card | 5% back in Rewards points | Keep the account active, not in arrears and make the required minimum payment by the due date. |
| Credit Card Booster | Up to 10% back in Rewards points | Meet the credit card good-standing criteria and complete at least five qualifying card purchases in the month. |
Credit card spend eligible for the earn calculation is currently capped at R50,000 per month per account.
Qualifying card activity includes:
- Card swipes.
- Card taps.
- Online purchases.
- Qualifying virtual card payments.
The current Rewards rules exclude transactions such as ATM transactions, cash-at-till withdrawals, bank fees, refunds, gambling and betting from the OM Bank card Rewards calculation.
The current debit card benefit requires all of the listed monthly eligibility conditions. If one of the conditions is not met, the 2.5% monthly Rewards points are not awarded for that month.
Earning Points From Old Mutual Products
Members can earn points from certain qualifying Old Mutual financial products. The amount can depend on the type of product, whether the product is in good standing, qualifying payment methods and the member’s Rewards tier.
For example, the programme currently applies tier-based earn rates to qualifying categories such as:
- Life insurance.
- Funeral cover.
- Savings and investments.
- Retirement-related products.
- Lending products.
- Short-term insurance.
Tier status is based on qualifying product categories. Two products from the same category do not necessarily move a member up another tier.
If you are researching borrowing separately from the Rewards programme, see our Old Mutual Personal Loans guide.
What Can You Do With Old Mutual Rewards Points?
Old Mutual Rewards currently provides several ways to use earned points.
| Redemption option | How it works |
|---|---|
| Reward partner vouchers | Exchange points for digital vouchers or codes that can be used according to the chosen partner’s rules. |
| Selected in-store or partner purchases | Use points or a Rewards-generated voucher at participating partners where this option is available. |
| OM Bank account | Qualifying members can redeem points into an active OM Bank account. The listed minimum is 10 points. |
| Other qualifying Old Mutual products | Use available points as a contribution toward selected products shown in the member’s Rewards account. |
| Airtime, data and SMS | Use points for supported mobile networks. Airtime currently uses a different point conversion from data and SMS. |
| Charity donations | Donate points to charities displayed in the Rewards platform. |
| Competitions | Points can be used to enter selected Rewards competitions where the specific competition allows it. |
How to redeem your points
Your available points balance must be reflected in your account before you can use it.
Select vouchers, OM Bank, investments, airtime and data, donations or another option shown in your account.
Check the voucher amount, expiry date, store restrictions and whether the full value must be used in one transaction.
Once used, the required number of points is deducted from your Rewards balance.
Digital vouchers can have strict replacement and expiry rules.
Where Can You Spend Old Mutual Rewards?
The Rewards partner network covers groceries, restaurants, fuel, retail, travel, mobile services, entertainment and other categories.
Current Rewards pages show partners such as Pick n Pay, Shoprite, Checkers, Boxer, Makro, Game, Woolworths and Ackermans.
Examples include KFC, Nando’s, Spur, Wimpy, Kauai, Hungry Lion, Panarottis, Primi and Uber Eats.
Current partner listings include Shell, TotalEnergies and Uber.
Examples include Dis-Chem, Sorbet, Mangwanani, Sportsmans Warehouse, Outdoor Warehouse and selected entertainment partners.
Rewards options include services involving Vodacom, MTN, Telkom, Cell C and selected digital entertainment brands.
Current listings include Travelstart, NetFlorist and other partner offers made available through the Rewards platform.
The partner list is not permanent. Old Mutual Rewards can add, remove or change partner arrangements, so check the Rewards platform before converting a large points balance for a specific purchase.
How Old Mutual Rewards Vouchers Work
When you buy a partner voucher with points, the voucher code is normally delivered digitally by SMS or email according to the programme and partner rules.
You may need to:
- Show the code to the cashier.
- Enter the code online.
- Add the code to a partner app.
- Use the full value in one transaction.
- Use the voucher before a stated expiry date.
Some vouchers are valid for 14 days, some for around a month and others can have longer validity periods. Some partners allow a remaining balance while others require the value to be used in one transaction. Always read the rules shown before confirming a voucher.
For example, the programme’s April 2026 changes introduced pre-determined KFC voucher values and state that an unused balance on the KFC wiCode is forfeited.
Can a voucher be refunded for points?
The general Rewards terms state that vouchers may not be cancelled, refunded or exchanged for cash. Partner-specific conditions can also apply.
What if you send airtime or data to the wrong number?
Check the cellphone number carefully before confirming. The Rewards terms state that airtime, data or SMS purchases are not refunded or cancelled because an incorrect or invalid cellphone number was selected.
Do Old Mutual Rewards Points Expire?
Yes. Earned points are generally valid for three years from the date of the activity that earned them.
If the points are not used during that period, they expire and cannot be spent.
If you earned points in several months or years, they do not necessarily share one expiry date. Old Mutual says it will notify members through their preferred communication channel when points are approaching expiry.
Can You Transfer Old Mutual Rewards Points?
No. The current programme rules state that Rewards points cannot be transferred to another person.
This applies even in circumstances such as divorce or inheritance.
You can, however, use your own points through the redemption methods available in your account, including eligible donations to charities listed in the programme.
What If Your Rewards Points Are Missing?
Points do not always appear immediately. For product-related Rewards and tier changes, processing and matching can take time.
Start by checking:
- You are logged in to the correct Rewards account.
- The activity or product actually qualifies for points.
- The qualifying product or account is in good standing.
- The payment method meets any special qualifying rule.
- Your Old Mutual product is linked to the correct personal details.
- Your transaction has had enough time to be processed.
If the relevant period has passed and the points still do not appear, contact Old Mutual Rewards with your membership and transaction details.
Old Mutual Rewards Login Problems
If you cannot access your account, use the password or account recovery options on the Rewards platform.
Do not give your username, password or one-time PIN to another person who says they can claim points for you.
Old Mutual’s terms require members to protect their account credentials. If you believe someone has accessed your account without permission, contact Old Mutual Rewards.
What Happens If You Cancel Old Mutual Rewards?
Members can cancel their Rewards membership.
The important part is what happens to unused points. Old Mutual states that unspent points are lost once the cancellation has been received and accepted.
Once the Rewards membership has been cancelled and the points are lost, you should not expect the unused balance to be paid to you in cash.
Is Old Mutual Rewards Worth Joining?
There is no membership fee, so the practical value depends on how you use the programme.
It may be useful if you:
- Already use qualifying Old Mutual products.
- Use OM Bank and can consistently meet the monthly Rewards criteria.
- Complete the free financial wellness activities.
- Use partner vouchers before they expire.
- Check your points regularly instead of allowing them to expire.
The programme may provide less value if you take out financial products only for the purpose of earning points. A financial product should first make sense for your needs, costs and financial position.
Compare the actual price, fees, interest, insurance cover or investment features of a financial product before considering the Rewards points attached to it.
Related Guides
Browse the Information section for guides on financial services, documents, employment information and other everyday services.
Old Mutual Rewards Questions
Is Old Mutual Rewards free?
Yes. Old Mutual Rewards is currently free to join.
Do I have to be an Old Mutual customer to join?
No. The programme is open to qualifying members of the public even if they do not own an Old Mutual product.
How old must I be to join Old Mutual Rewards?
You must be at least 18 years old.
Do I need an Old Mutual Rewards card?
No. It is a digital programme. Members use their Rewards account and membership number rather than a physical Rewards card.
How much are Old Mutual Rewards points worth?
Most listed Rewards redemption options currently use 10 points as the equivalent of R1. Airtime currently uses 11 points for R1.
How much is 1,000 Old Mutual Rewards points worth?
At the standard 10 points to R1 conversion, 1,000 points has a redemption value of R100 through an option using that conversion.
Can I withdraw Old Mutual Rewards points as cash?
Rewards points are not cash and cannot simply be withdrawn or sold for cash. They must be used through the redemption options provided by Old Mutual Rewards.
Can I put Old Mutual Rewards points into my OM Bank account?
Yes. A member with an eligible active OM Bank product can redeem points into the OM Bank account, subject to the current Rewards redemption rules.
How do I earn Old Mutual Rewards points?
Points can be earned through selected financial wellness activities, surveys, referrals, qualifying Old Mutual products, eligible OM Bank activity and promotions.
What are the Old Mutual Rewards tiers?
There are five tiers. Tier 1 generally covers zero or one qualifying product category, Tier 2 covers two or three, Tier 3 covers four, Tier 4 covers five and Tier 5 covers six or more. Special investment value rules can also qualify members for Tier 4 or Tier 5.
How much can I earn with an OM Bank debit card?
The current programme offers 2.5% back in Rewards points on qualifying monthly debit card spend when all required monthly criteria are met.
How much can I earn with an OM Bank credit card?
The current programme provides 5% back in Rewards points when the credit card is in good standing and up to 10% when the additional qualifying transaction booster criteria are met. Qualifying monthly spend is capped at R50,000 per account for this calculation.
Do Old Mutual Rewards points expire?
Yes. Earned points are generally valid for three years from the date of the activity that earned them.
Can I transfer my points to another person?
No. The current Rewards rules do not allow points to be transferred to another person.
Where can I spend Old Mutual Rewards points?
Points can be redeemed through available partner vouchers and other Rewards options. Current partner listings include grocery, restaurant, retail, fuel, travel, entertainment, mobile and health-related brands. The partner list can change.
Can I use Rewards points at Boxer?
Boxer was added as an Old Mutual Rewards spend partner from April 2026. Check the current voucher rules in Rewards before redeeming.
Can I use Old Mutual Rewards at Shell?
Shell was added as an Old Mutual Rewards spend partner from April 2026. The current Rewards rules allow qualifying Shell wiCodes at participating Shell petrol stations in South Africa.
What happens if an Old Mutual Rewards voucher expires?
Voucher expiry rules depend on the partner. The programme generally does not provide replacement vouchers for lost, stolen or expired codes where the partner rules exclude replacement.
What happens to my points if I cancel Old Mutual Rewards?
Old Mutual states that unspent points are lost once the membership cancellation is received and accepted.
Old Mutual Rewards Help
Need help with points, vouchers or your account?
Contact Old Mutual Rewards if points are missing after the applicable processing period, you cannot access your account, a Rewards statement looks incorrect or you need help with a redemption.
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