Starting this Wednesday and until next Tuesday, November 16, the Good End will take place, the commercial season where thousands of stores and businesses in the country offer their best deals of the year.
According to the organizers, for this 2021 edition, about 95,000 companies from all sectors and business lines will participate to offer promotions on all kinds of articles and services.
In this season of offers, banks also join the promotions not only by offering months without interest, bonuses or remuneration with points to their customers who pay during these days with their physical and digital cards. They will also offer discounts on their entire portfolio of financial services such as offers in the acquisition of insurance or in the contracting of auto and mortgage loans.
Alejandro Pineda Mociño, president of the Payment Methods Commission of the Association of Banks of Mexico, explained that banking institutions will grant two types of promotions during these days: the first, by using financial products as means of payments and the second, when acquiring new credit products.
“The bank also activates offers in its banking products so that customers take advantage of this period and also buy new financial products,” he said in an interview.
Bonuses and rewards
As part of the benefits for cardholders for using their plastics, BBVA’s director of Banking Products also explained that these will apply to both credit and debit cards.
Although it will depend on each bank, in general all entities will offer from three to 24 months without interest, bonuses with points and percentages, and electronic wallets as the main incentives.
In the case of bonuses, he specified that they can be specific amounts such as 500 pesos for every 2,000 purchases or a percentage of a minimum purchase amount.
While in the case of debit cards, the main rewards are in the delivery of electronic wallets to provide a purchase bonus, regularly with points.
“There will be institutions that give double points, double rewards, there will be others that will give bonuses where they normally do not deliver them,” he said.
Mortgages, promissory notes, and more
The ABM executive added that banks also put their products and services on offer. These benefits will be in various products such as credits, insurance and even promissory notes.
In the case of loans, he explained that it will depend a lot on the type of financing but that in general the entities will not charge opening commissions in the case of personal or payroll loans.
For auto loans, banking institutions will lower interest rates, bonuses on some commissions; While in the case of mortgages they will not charge opening commissions, they will give appraisals at no cost and preferential rates in notarial fees.
In other products such as promissory notes, banks will grant up to 5% within a period of five months with a minimum investment amount of 10,000 pesos.
Pineda pointed out that if you are interested in these products, check the bank’s website to verify the discounts in the interest rate, in the opening commission or other benefits according to the product of your interest.
See participating cards
Because each bank will offer different promotions, the manager recommended consulting the website of his financial institution to find out the details about the available offer, the participating cards, as well as the establishments and businesses where these benefits will apply.
“On the website you can find out more about the promotions these days. You will find in which businesses the deadlines apply. The best thing to do before going shopping is to prepare and choose the promotions that most interest you, help you or suit you, “said Pineda Mociño.
In this regard, Abraham Garza, marketing director of Netpay, a company that offers payment solutions, pointed out that before going to buy it is necessary for customers to check exactly what each bank offers, since in some cases they must register in advance to access some giveaways or promotions.
“We have to understand the fine print before using our card and know if I qualify for these promotions,” he said.
Reference-www.eleconomista.com.mx