1.1 What is VRewards?
VRewards is VBank’s loyalty program that lets you earn VCoin when you perform eligible transactions on the app. The more you use the app, the more you earn!
1.2 How do I earn VCoins?
You automatically earn VCoins when you carry out the following activities:
Eligible Activity | VCoin Rewards | Naira Equivalent (₦) |
Customer referral (when referred customer funds ₦10,000+) | 2 | 20 |
Initial funding for new customers (₦10,000) | 2 | 20 |
Upgrade to Tier 3 | 3 | 50 |
Fixed Deposit (₦500K – ₦2M, 12 months+) | 1.00 | 50.00 |
Fixed Deposit (₦2M – ₦5M, 12 months+) | 2.00 | 70.00 |
Fixed Deposit (₦5M – ₦10M, 12 months+) | 3.00 | 100.00 |
Fixed Deposit (₦10M+, 12 months+) | 5.00 | 150.00 |
Airtime purchase (₦1,000 – ₦10,000) | 1 | 10 |
Airtime purchase (₦10,001 – ₦20,000) | 2 | 20 |
Airtime purchase (₦20,001 – ₦30,000) | 3 | 30 |
Airtime purchase (₦30,001 and above) | 4 | 40 |
Bill payment (₦1,000 – ₦10,000) | 1 | 10 |
Bill payment (₦10,001 – ₦20,000) | 2 | 20 |
Bill payment (₦20,001 – ₦30,000) | 3 | 30 |
Bill payment (₦30,001 and above) | 4 | 40 |
Request for physical/virtual cards | 1 | 10 |
1.3 What can I do with my VCoins?
You can redeem your VCoins in-app for airtime, data, discounts, gifts, or exclusive VBank offers depending on what’s available in the rewards catalogue. (this is coming soon)
1.4 Can I convert my VCoins to cash?
No. VCoins cannot be exchanged for cash. They are strictly for in-app redemptions and rewards.
1.5 Where can I see how many VCoins I’ve earned?
Your VCoin balance and transaction history are visible in the VRewards section of the app. You’ll see what you earned, what you redeemed, and your total balance.
1.6 Do my VCoins expire?
Yes. VCoins may expire if not used within the validity period (which will be stated in your rewards section). Be sure to check often and redeem on time!
1.7 I referred someone but didn’t get my reward, why?
You only earn referral rewards after the referred person successfully funds their new account with at least ₦10,000. If they haven’t done this, the reward won’t be triggered.
1.8 Will I earn more if I split one big transaction into smaller ones?
No. VCoin rewards are based on total transaction value, not the number of transactions. Attempting to game the system this way may disqualify you from rewards.
1.9 What if my bill payment fails, do I still get rewarded?
Only successful transactions qualify for VCoin rewards. Failed or reversed payments do not earn rewards.
2.0 I made a qualifying transaction but didn’t get VCoins. What should I do?
Please allow up to 24 hours for your VCoins to reflect. If it doesn’t appear, contact our support team via the in-app chat.
2.1 Can I redeem VCoins for anything outside the VBank app?
No. VCoins are only valid within the VBank ecosystem. However, you can use them to get discounts or value on supported services via the app.