Mox Bank Limited announced that customers can now earn Asia Miles instantly upon placing a Time Deposit “without waiting until maturity.”
Mox claims that it is the first and “only” bank in Hong Kong to “offer such a reward, allowing customers to use Asia Miles immediately to redeem their flights and lifestyle rewards.”
Barbaros Uygun, CEO of Mox, said:
“While the travel peak season is around the corner, we are thrilled to be at the forefront of innovation to offer instant Asia Miles reward on Time Deposits. We are here to change the game with this revolutionary feature, allowing our customers to maximise the rewards from their deposits and plan their dream vacations in advance. We are committed to enhancing our products and services to deliver the best experience in digital banking.”
Mox aims to transform “the banking experience to be more meaningful for customers by seamlessly integrating lifestyle rewards and benefits into financial products. With initiatives like offering instant Asia Miles reward, Mox is redefining banking and savings in the digital era and giving greater flexibility and convenience to customer needs.”
With the industry’s “first” instant Asia Miles rewards, when Mox customers place a 24-month Time Deposit with Mox, they can “earn 375,000 Asia Miles instantly for every HKD500,000, which is eligible for redeeming 5 business class round-trip tickets to Tokyo or 2 business class round-trip tickets to London.?”
Customers can also “place up to 5 Time Deposits to earn Asia Miles instantly.”
With the instant Asia Miles earned upon placing a Time Deposit, customers can also enjoy the below benefits:
- Flexibility – Customers can place a Time Deposit and instantly earn the exact amount of Asia Miles they are still missing for their next trip;
- Doubling rewards generally earned from Time Deposits – For example, they can receive 25,000 Asia Miles instantly for placing a 6-month Time Deposit of HKD125,000 New Funds. This is equivalent to the amount of Asia Miles required to redeem a round-trip economy class ticket to Tokyo⁴, which is close to doubled the value⁵ as compared to the interest of a 6-month Time Deposit at 4.5% p.a.
This announcement follows Mox’s recent “launch of Upfront Interest Time Deposit Promotion, which provides customers with interest in cash instantly when setting up a Time Deposit. With instant Asia Miles, Mox extends its commitment to transforming the Time Deposit experience and delivering unmatched value to customers.”