Citizens Financial Group, Inc. announced the launch of the Citizens Bank and Charter One Bank Merchant Network that includes partnerships with 14 popular retailers in its Citizens Bank Rewards and Charter One Bank Rewards programs. Customers will earn up to 20 Everyday Points® for each dollar of their debit card purchases at the retailers in the Merchant Network.
Citizens and Charter One also announced new bank product rewards. Customers may now redeem their reward points for:
– $25, $50 or $100 deposits into a Money Market Account, Savings Account or Individual Retirement Account
– A .20% bonus on the interest rate on Certificates of Deposit
– A .25% rate reduction on Home Equity Loans or Lines of Credit
Unlike similar programs that are restricted to online shopping, Citizens and Charter One cardholders are eligible for the incremental points (up to 20 Everyday Points®) through in-store, online and catalog purchases with those retailers in the merchant network. With more than a dozen merchant brands and nearly 11,000 bricks-and-mortar locations, the Citizens Bank and Charter One Bank Merchant Network is the largest bricks-and-mortar coalition loyalty program ever assembled in the U.S. and features some of the nation’s most widely frequented stores, including: Dunkin’ Donuts, Eddie Bauer, FAO Schwarz, Hickory Farms, Hollywood Video, Legal Sea Foods, Linens ‘n Things, Macy’s, Mrs. Fields, Restoration Hardware, Sharper Image, Timberland, Yankee Candle and 1-800-FLOWERS.
“This is a unique program that we believe is a win-win proposition for both our customers and our franchisees,” said Laura Stanton, Director of Marketing Services for Dunkin’ Brands, the parent company of Dunkin’ Donuts.
More than 590,000 customers have enrolled in Citizens and Charter One Rewards programs since October, when Citizens expanded the program into the New England and Mid-Atlantic regions. This includes more than 540,000 consumers and nearly 55,000 businesses, bringing Citizens Financial Group’s total number of Rewards enrollments to more than 1 million customers. To earn points, customers simply visit a local branch or call 1-888-777-3946 (for consumers) and 1-888-777-3961 (for businesses) 24 hours a day, 7 days a week to enroll.
“With the launch of our Merchant Network, Citizens and Charter One Rewards customers can shop at many of their favorite retailers and earn more Everyday Points faster,” said Theresa McLaughlin, Executive Vice President and Chief Marketing Officer of Citizens Financial Group. “The high number of enrollments in our Rewards program during the past few months reflects the tremendous value the program is providing customers for everyday purchases they make with their Citizens Bank and Charter One Debit Cards.”
Points are redeemable through a catalogue of merchandise, gift cards, travel vouchers, charitable donations and bank products. Points are awarded for any signature-based debit transaction and any non-pin transaction such as phone and Internet purchases. In addition to the incremental points with the Merchant Network, customers earn double points – two points on every dollar spent on their debit card – for recurring payments on the debit card, which includes paying a monthly cell phone or cable TV bill, for example. Customers also earn double points whenever they use MasterCard PayPass , the contactless payment technology on Citizens Bank Debit Cards. PayPass enables ‘Tap N Go’ payments at merchants including CVS, Regal Cinemas, 7 Eleven and many more. For a detailed listing of participating merchants, customers may visit www.citizensbank.com/paypass.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is a $164 billion commercial bank holding company. It is headquartered in Providence, R.I., and has more than 1,600 branches, approximately 3,200 ATMs and 25,000 employees. It operates its 13-state branch network in Connecticut, Delaware, Illinois, Indiana, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island and Vermont, and has non-branch retail and commercial offices in about 40 states. Citizens is the eighth-largest commercial banking company in the United States ranked by deposits and ninth ranked by assets as of September 30, 2006. Citizens is owned by RBS (The Royal Bank of Scotland Group plc). Citizens’ Web site is citizensbank.com.
