Cut streaming costs by 50% with bank rewards in South Africa

South Africans can save significantly on streaming services like Netflix and Showmax by leveraging rewards and promotions offered by their banks. Capitec offers discounts of over 50% on Showmax subscriptions, while Absa provides up to 30% cash back on both Netflix and Showmax. Standard Bank's UCount rewards also give up to 5% back on Showmax subscriptions. These bank rewards make premium entertainment more affordable and accessible.

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By Daniel Puchert

South Africans can use rewards programmes and promotions from their bank to save up to 50% on streaming platforms like Showmax and Netflix.

On-demand streaming services are relatively inexpensive compared to other paid-for entertainment subscriptions, such as MultiChoice's DStv, which ranges between R29 to R929 per month.

Netflix and Showmax, on the other hand, both cost under R200 for the full package — Showmax currently costs R99 per month, and Netflix is priced at R159 for the standard and R199 for the premium subscription.

However, users could pay much less for each subscription if they were aware of the benefits provided by their bank.

Capitec currently has a promotion with Showmax, allowing the bank's customers to purchase vouchers to access the streaming platform at over 50% less than the monthly subscription price.

This applies to all three Showmax subscriptions. The main entertainment package, usually priced at R99, is available for R45.

Showmax's two mobile plans, Showmax Entertainment Mobile and Showmax Premier League, are priced at R22 and R34 through Capitec, respectively.

Capitec's group executive for strategic initiatives, Henk Lourens, said this was an attempt to make entertainment more accessible and at very affordable rates.

These vouchers can be purchased from the Capitec Mobile Banking app. Neither Capitec nor Showmax has indicated when the promotion will end.

Absa customers can save on their Showmax and Netflix subscriptions by earning cash back on their monthly streaming package purchases.

By purchasing Netflix or Showmax vouchers from the Absa Mobile Banking app, customers can receive up to 30% cash back, depending on their rewards tier.

Absa customers can move up rewards tiers by collecting enough points to move to the next tier. These points are earned by completing banking goals set out by the bank.

This is not a direct discount, but Absa's rewards programme provides customers with actual cash back for purchases instead of virtual rewards points.

This also applies to other digital subscription services, such as Xbox, PlayStation, and Spotify.

Standard Bank customers can access benefits like Absa clients as part of the UCount rewards programme.

Not only can users spend their rewards points on Showmax vouchers, but they can also receive cash back of up to 5% on their subscriptions.

The table below shows each bank's rewards programme benefits or promotional offers for Showmax and Netflix.

Taking advantage of bank rewards programmes can also save South Africans money when making tech purchases.

One of the most accessible rewards programmes is Nedbank's Avo Points, which you can sign up for regardless of your bank.

This can be useful for customers from different banks who want to sign up for a spending rewards programme without switching banks.

Like UCount rewards, users earn points by spending. In the case of Avo Points, the virtual currency can be earned by purchasing products from the Avo SuperShop.

Shoppers can use any bank to purchase items from the store and sign up for the Avo Points rewards programme.

For instance, anyone can buy a 13-inch MacBook Air M1 from the Avo SuperShop for R15,999 — a 6% discount from its original price.

Avo Points users can receive a further 10% off and pay R14,299. Because this is not part of Nedbank's official rewards programme, Greenbacks, there is no tiering reward system.

For every R100 spent on the App, users will get 1 Avo Point. Each Avo Point represents a R1 reward.

Customers can subsidise their purchase using these Avo Points or use them to pay for it in full.

Nedbank customers using the Greenbacks programme can receive 2% back on the Avo SuperStore when using a Greenbacks registered card.

Read also:

• Every streaming service you can get for the price of DStv Premium
• Streaming services overtake traditional TV for the first time
• Streaming just what you need is the way to go. Here's how.

This article was first published by MyBroadband and is republished with permission