Cosmos Bank Rewards Program

Date of Publication – October 2021

The following terms & conditions are effective from the date of publication as shown above and will be amended from time to time. Please ensure that you read these terms and conditions carefully before making any purchase or using our service. Doing so implies that you have accepted the terms of use.

1. Program Overview

The Cosmos Cooperative Bank Rewards Program (or “Program”) is a loyalty program powered by Nth Rewards (or “Sponsor”) through which customers having a valid Active accounts of The Cosmos Co-operative Bank Ltd. (or “Cosmos Bank”) may earn Reward points (or “Points”) that will be credited to their rewards account. Registered users can redeem their points through the product catalogue, e-vouchers or offers.

2. User Eligibility

  • 2.1 Only Saving and Current Active Accounts using our digital banking services are eligible for Cosmos Bank Rewards Program..

3. Registration

Eligible customer of Cosmos Bank needs to sign up using valid customer ID and registered Mobile number on www.cosmosbank.com. After giving valid Cust ID, an OTP will be generated from the registered mobile number on rewards program. And upon completion of registration formalities such customer shall be treated as member under rewards program.

By giving us the registered Mobile Number, the member provides Cosmos Bank the permission to send notifications related to the Cosmos Bank Rewards program on the registered Mobile Number.

4. Program Access

  • 4.1 Access through Cosmos Bank Rewards Website
    • Programme to be accessed through Cosmos Bank Rewards Website i.e. https://rewards.cosmosbank.com
    • Website will prompt customers to login in order to View/Redeem Rewards. Customers to use their Customer ID and OTP received on Registered Mobile number.
  • 4.2 Membership in Cosmos Bank Rewards program is non-transferable.
  • 4.3 Cosmos Bank reserves the right to change/withdraw/ discontinue any individual’s membership in Cosmos Bank Rewards program and revoke any accrued points without giving any reason to the customer.
  • 4.4 Membership in Cosmos Bank Rewards program is automatically terminated upon closure of account, death or bankruptcy of the primary Cosmos Bank Rewards relationship-holder.
  • 4.5 Cosmos Bank Rewards members will benefit from special offers, promotions and privileges which may be provided by Cosmos Bank and their partners from time to time. Membership is subject to the program eligibility criteria and conditions as determined by Cosmos Bank.

5. Program Construct and Points

  • 5.1 Cosmos Bank shall determine, from time to time, at its discretion, which Cosmos Bank Rewards relationships or which Cosmos Bank transactions are eligible for inclusion/exclusion in the Cosmos Bank Rewards program and how many Reward points to be earned and on what basis.
  • 5.2 Cosmos Bank will also determine from time to time the number of Cosmos Bank Reward points required for redemption of any reward. A member must be a customer in good standing, having earned a minimum number of Cosmos Bank Rewards points.
  • 5.3 Cosmos Bank Reward points may be earned only as per the terms determined by Cosmos Bank. More specifically, during a promotion, special offer, cash-back or black-out period, Cosmos Bank may decide to disallow the earning of Cosmos Bank Reward points on already discounted transactions.
  • 5.4 Points will be calculated as per bank’s policy , which may change from time to time without any intimation to the customer.
  • 5.5 Cosmos Bank reward Points are not assignable and cannot be pledged.
  • 5.6 Upon expiration, unused Cosmos Bank Reward points will be removed from the Cosmos Bank Reward account as of the expiration date and cannot be re-credited. It is the Cosmos Bank account holder's responsibility to be aware of both the number of Cosmos Bank Reward points in his/her account and their expiration date.

6. Usage

You may use the Cosmos Bank Rewards Program for personal purpose only not for any business, commercial or other use. We are authorized to act on all instructions received by customer using your account and are not responsible for any transaction made without your authorization. We also reserve the right to terminate/delete any account without notice at our sole and absolute discretion at any time.

7. Breach of Terms and Conditions

  • 7.1 In the event of a breach by a Cosmos Bank Rewards relationship-holder of these terms & conditions or of any applicable provisions in any policy incorporated by reference herein, or in the event of failure on part of an Cosmos Bank Rewards relationship-holder to pay for any outstanding / dues within the prescribed time set by Cosmos Bank or for any other reason whatsoever, Cosmos Bank reserves the right, at its discretion, to:
    • Terminate and close the Cosmos Bank Rewards membership in the Program
    • Refuse to award Cosmos Bank Reward Points
    • Withdraw Cosmos Bank Reward Points; and/or
    • Refuse to redeem Cosmos Bank Reward Points
  • 7.2 Such suspension and disqualification of Cosmos Bank Reward points relationship-holder may result, at Cosmos Banks discretion, in the forfeiture of all of the accrued Cosmos Bank Reward points in the relationship-holders account.

8. Acceptance

By agreeing with our terms and conditions, you accept that we may transfer your personal data, or the personal data of others on whose behalf you are transacting, for the purposes of facilitating a transaction and providing sales support for a transaction. You consent to receive transactional, commercial and marketing communications both related to the Cosmos Bank Rewards Program specifically, and to our other products and services generally (including products or services related to us).

9. Earning Cosmos Bank Reward Points

  • 9.1 The Cosmos Bank Rewards customers can earn Points through a transaction using Cosmos Bank’s Digital Banking Channels for the purchase of goods or services paid by debit card, online payment, or any other means of payment.
  • 9.2 It is the responsibility of all the Cosmos Bank Rewards customers to ensure that electronic data collection generated transaction slip is accurate to check all the transactions done with partners that enable them to earn points. Cash transactions ( part or in full ) will not be considered for rewards.

10. Partners’ Rights

The Cosmos Bank Rewards partners may change any of the terms and conditions of their business at any time without giving any notice to the customer. It is not the responsibility of the Cosmos Bank rewards program to inform the customers of any such changes. Cosmos Bank Rewards has no liability for the acts and omissions of their partners.

11. Points Calculation

  • 11.1 The points earned through transactions will be credited to the user’s account within 45 working days.
  • 11.2 Users will not be awarded points in fractions, as points are accrued as whole. Points are valid only for a particular period and the member shall not be entitled to redeem any of such lapsed points.
  • 11.3 No Cosmos Bank Reward points in one member’s account can be pooled with Cosmos Bank Reward points in another member’s account.
  • 11.4 Customers can call customer support number or visit the website and go the “order history” page to get a summary of their recent transaction or detailed point balance.
  • 11.5 Cosmos Bank Rewards is only loyalty value added service hence, accumulation of reward points is not in the form of consideration.

12. Points Redemption

  • 12.1 Cosmos Bank Reward Points can either be redeemed at products catalogue or at any of the Cosmos Bank rewards network partners by any Cosmos Bank customers after providing all the required credentials.
  • 12.2 Customers can redeem points and pay the remaining amount by card while they make the purchase of any goods or services at www.rewards.cosmosbank.com
  • 12.3 All products and services in the Product Catalogue are subject to availability and seller (s) warranties and conditions at the time of purchase. In case of any defective product Cosmos Bank will not be responsible and not liable to indemnify any loss caused due to the quality of product.
  • 12.4 Whenever deemed necessary, Cosmos Bank may, without notice, cancel the Cosmos Bank Rewards order or substitute the reward with another, of comparable nature and value, as determined by Cosmos Bank.
  • 12.5 Cosmos Bank reserves the right to introduce new products and replace the existing ones at any point of time without prior intimation to the member.
  • 12.6 Additional terms & conditions for each reward shall be set forth in the gift vouchers issued to the member, if the customer has opted for redemption of points by gift vouchers.
  • 12.7 Only customers having active Cosmos Bank Rewards relationships can request for redemption of points.
  • 12.8 The points cannot be exchanged for cash or credit or be used to obtain cash advances or be used against payment for any charges incurred in the Cosmos Bank Rewards relationship.
  • 12.9 Redeemed rewards are not exchangeable for other rewards or refundable, replaceable or transferable for cash or credit under any circumstances, nor can these be re-converted back to Cosmos Bank reward points.
  • 12.10 Cosmos Bank makes no warranties or representations either expressed or implied, with regard to the type, quality or fitness of the gifts provided through the Cosmos Bank Rewards program. Gifts will be accompanied by warranty information wherever applicable from the manufacturer and claims must be settled directly with the manufacturers.
  • 12.11 Any additional costs incurred in connection with redemption of any reward shall be the sole responsibility of the member.
  • 12.12 Issuance of a redemption certificate for dining, travel or hotel accommodation does not constitute a reservation. The member is responsible for making all reservations and notifying the participating merchant establishments of the reward(s) he/she is going to redeem.
  • 12.13 Cosmos Bank shall in no event be responsible or liable for the product and/or services redeemed from the Cosmos Bank Reward points, in any manner whatsoever including but not limited to any defect or deficiency in, or in respect to any claim arising out of non-use or use of the points, or in usage of redemption certificate for dining, travel or hotel accommodation or in usage, durability of any product/service acquired by redemption of points.
  • 12.14 Availability of stock and pricing for any reward in the Cosmos Bank Rewards catalogue is subject to change. In case of failure to redeem owing to a technical or network issue, Cosmos Bank will not be liable for said change in the availability of stock or pricing in the interim period.
  • 12.15 Expiry:  The validity of the points is 12 months from the date of accrual excluding the accrual month. It may change as per Banks policy. Cosmos Bank reserves the right to modify, temporarily or permanently the expiry policy of the points without prior intimation to the customer.
  • 12.16 How can you earn Cosmos Bank Points
    • As a Cosmos Bank account holders, you can earn & accumulate Cosmos Bank Points for all your spends on delivery channels.
    • Each Cosmos Bank Point is valued at Rs. 0.25

13. Warranty/ Guarantee

  • 13.1 It is the sole responsibility of the seller(s) to maintain warranties and guarantees on the Cosmos Bank Rewards. The Cosmos Bank Rewards program is not responsible for any defect or deficiency in the platform, whatsoever.
  • 13.2 Customers can either contact the respective Seller(s) / Manufacturer (in case of manufacturer warranty) in the event of any defect or deficiency of the product. Gift vouchers/vouchers will always come with a validity period. No seller or issuer of gift vouchers will be responsible for vouchers that were not used under the expiry dates mentioned. Vouchers cannot be revalidated in any situation. The Cosmos Bank will not be responsible if the seller refuse to encash the voucher or do not encash the voucher due to any reason.

14. Refund Policy

  • 14.1 In case of refunds, the Cosmos Bank Reward points consumed for the specific order would be reversed back to the account.
  • 14.2 Refund shall be subject to Cosmos Bank Rewards member complying with Policies.
  • 14.3 Refunds for any cancelled/ returned orders would be processed within 7 working days.

15. Return Policy

If any goods or products delivered to the customer are found damaged, defective or different from what was ordered, it can be returned as per the return policy of the seller/manufacture

  • 15.1 Customers can log their complaint to customer support, within 7 days from the date of delivery.

16. General

  • 16.1 Fraud and/or abuse relating to earning and redemption of Cosmos Bank Reward points in the program shall result in forfeiture of the Cosmos Bank Reward points as well as termination and cancellation of the Cosmos Bank rewards membership.
  • 16.2 Information supplied by a member on redemption of rewards may be used by Cosmos Bank for administrative and/or marketing purposes, without procuring any permission, written or otherwise, from the member.
  • 16.3 All communication related to Cosmos Bank Rewards will be sent on the email ID registered on the Cosmos Bank rewards website only.
  • 16.4 By giving us the registered email ID, the member provides Cosmos Bank the permission to send communication and promotional offers related to the Cosmos Bank Rewards program on the registered email ID.
  • 16.5 Any taxes or other liabilities or charges payable to the Government or any other authority/ body or any other participating merchant establishment which may arise or accrue to a member on redemption of Cosmos Bank Rewards points as aforesaid or otherwise shall be the sole responsibility of the member.
  • 16.6 Cosmos Bank Rewards program acts in good faith in response to any oral or electronic instruction or inquiry by the member in respect of any matter in relation to this program and the fulfilment of any reward, the member shall not be entitled to claim or allege any loss, damage, liability, expense, etc. attributable, directly or indirectly, to any such good faith action of Cosmos Bank and the member shall indemnify and hold Cosmos Bank fully harmless in respect thereof.
  • 16.7 Cosmos Bank Rewards makes no representation and provides no warranty whatsoever, expressed or implied and undertakes and assumes no liability whatsoever, in respect of the quality or merchantability of any reward or the suitability or fitness thereof for any use or purpose. All Cosmos Bank Rewards shall be accepted by the Cosmos Bank Rewards relationship holder at his/her own risk.
  • 16.8 Cosmos Bank is not responsible for disputes involving Cosmos Bank Rewards points, rewards or any other aspect of this program between joint signers of the account. Any personal liability arising out of the receipt or use of the program, or the Cosmos Bank rewards relationship is solely the member’s responsibility.
  • 16.9 Cosmos Bank Rewards program is subject to applicable law and regulations and would be modified / discontinued based on the prevailing law / regulation at any point of time and neither party shall be under any liability or obligation or continue the program till such time the terms are modified by the bank as per the prevailing/ amended law at that point of time. In the event, that the program cannot be continued without total compliance of the prevailing law at any point of time, program shall be deemed to be discontinued forthwith from the date when the amended law restricting / prohibiting the program comes into force.