Understanding Perkbox Points: Redemption and Value
Perkbox points enable users to redeem various perks and rewards on the platform. Here’s a detailed guide to understanding their value, redemption methods, and variability depending on rewards.
Overview of Perkbox Points
Perkbox points, including Flexi Points, do not have a fixed monetary value. The number of points required to redeem a reward varies depending on the brand and type of reward. Users can browse the Perks hub or Rewards hub on Perkbox to view the points cost for each option. Key principles:
No fixed conversion rate: The general guide is that 10 points are approximately equal to £1, but this can vary by brand and reward.
Platform-specific rates: Some brands may require fewer points per pound, while others may require more.
Redemption Scenarios & Values
Voucher Transactions
Exchanging 500 points for a Love2shop reward provides a £50 voucher.
For Amazon vouchers, a higher conversion rate may apply. For instance, a £5 Amazon voucher might require 55 points, reflecting the brand's specific exchange rate.
Flexi Points Usage
Flexi Points can be redeemed for various rewards; for example:
50 points can be exchanged for a £5 Amazon voucher
20 points can be redeemed for a free hot drink at Greggs. The redemption value differs depending on the reward's type and brand.
Viewing Redemption Costs
For specific perks like Amazon, users can follow these steps:
Open the perk page on the Perkbox platform.
Select "Get this perk." Choose a specific denomination.
The page will display the points required for that denomination, allowing users to make informed decisions.
Important Notes
Variability in points valuation should always be considered. Brands and rewards have unique exchange rates built into the platform.
To maximize point usage, users can compare the points cost with the cash value of rewards directly on the platform.