“What happens to your loyalty points when you die?” asks a reader

Maya replies: This is an excellent question especially if you are someone who has built up significant loyalty rewards through your bank account or credit card as these rewards could be used by your family.

According to FNB which manages eBucks, one the most successful loyalty reward programmes, the reward points are linked to a personal bank account which would be included as an asset belonging to the deceased’s estate.

Once the bank has had notification of the death, the account belonging to deceased estate will be frozen as per the law along with the loyalty points.

The executor of the estate would have to include the loyalty points in the final liquidation and distribution account. At that point the executor will have the opportunity to request the bank to transfer the rewards to the beneficiaries of the bank account. If the executor failed to deal with the rewards in the final liquidation and distribution account, then those reward points will be forfeited.