KOSH Loyalty: Terms and Conditions

1. Scope

These terms govern all rewards offered by KOSH. KOSH currently offers three types of reward, each with its own rules:

• KOSH Points — earned on eligible card spend, redeemed against benefits in the app.
• Cashback — value returned to you on qualifying spend or promotions.
• KOSH Rewards — a promotional reward balance, granted as cashback and through bonuses, referrals and campaigns.

In these terms, KOSH Rewards capitalised means that balance specifically. The word "rewards" in lower case means all three reward types together.

Sections 2 to 5 and section 9 apply to all three. Sections 6, 7 and 8 set out the rules specific to each reward type. Where a section specific to a reward type conflicts with the common terms, the specific section applies to that reward only.

Individual campaigns and promotions may carry their own additional terms, which are shown in the app at the time and take precedence for the rewards granted under them.

Common terms

2. Eligibility

Rewards are available to KOSH customers with an open account in good standing. Participation is free and no separate enrolment is required.

Rewards are personal to you. They cannot be transferred, sold, assigned or gifted to another person, and have no cash value unless expressly stated for that reward type.

3. Account closure, suspension and reversal

If your account is closed, suspended or terminated, any unredeemed or unclaimed rewards are forfeited and have no residual value.

Rewards are granted on settled transactions. If a transaction is later refunded, reversed, charged back or cancelled, the corresponding reward is deducted or recovered. If this results in a negative balance, the shortfall is recovered from rewards earned subsequently.

4. Abuse

KOSH may withhold, reverse or cancel any reward, and suspend or remove access to any reward programme, where it reasonably believes there has been:

• transactions made primarily to generate rewards rather than for a genuine purchase
• use of multiple accounts, or accounts opened with false information
• manufactured spend, circular transactions, or resale of redeemed benefits
• any breach of the KOSH customer terms

5. Changes, termination and general

KOSH may amend these terms, adjust rates and limits, alter or withdraw any reward or redemption option, or discontinue any reward programme, at any time and at its sole discretion. Where a change is material, notice will be given in-app or by email before it takes effect.

If KOSH discontinues a reward programme, KOSH will give at least 30 days' notice in-app or by email, and you may use or redeem your outstanding balance under that programme at any time before the end of that notice period. Any balance remaining when the period ends expires and has no further value.

This does not apply where the programme is withdrawn from you individually under section 4, or where your account is closed, suspended or terminated under section 9.

These terms sit alongside the KOSH customer terms and privacy policy. Taxes arising from rewards, where applicable, are your responsibility.

KOSH Points

6.1 Earning

Base rate: $1 of eligible spend = 1 point.

Higher earn rates ("multipliers") apply to selected categories and merchants. The categories and merchants eligible for a multiplier, and the rate applying to each, are displayed in the KOSH app and form part of these terms.

KOSH may add, remove, vary, suspend or withdraw any category, merchant or multiplier at any time, at its sole discretion and without prior notice. The rates displayed in the app at the time a transaction is processed are the rates that apply to that transaction.

Category eligibility is determined by the merchant classification KOSH receives from the card network. KOSH's classification of a merchant is final.

6.2 Earning limits

Multipliers apply only up to a monthly points-eligible spend limit per user, shared across all categories combined. Spend beyond that limit earns at the base rate for the remainder of the cycle. Limits reset at the start of each calendar month.

The applicable limit is shown in the app and may be varied by KOSH at any time.

6.3 Point value and redemption

100 points = $1. A single point is worth $0.01 when redeemed. Points have no cash value and cannot be exchanged for cash.

Points may be redeemed against the benefits made available in the app from time to time. Available benefits, their point cost, and any limits on them are shown in the app and may change at any time.

Certain benefits are only unlocked when points are redeemed and are not applied automatically to card transactions. You continue to earn points on the cash amount actually charged to your card after any points-funded discount.

KOSH may apply separate redemption limits to individual benefits, independently of the earning limit.

6.4 Expiry

KOSH has not introduced a general expiry policy for points. Points earned under standard earning currently have no expiry date and remain in your balance while your KOSH account is open and in good standing.

Points awarded through a specific campaign, promotion or category may carry their own expiry period. Where an expiry applies, it is stated in the app at the time those points are awarded, and those terms take precedence for those points.

KOSH may introduce a general expiry policy in future. Notice will be given in-app or by email before it takes effect, and any expiry period will run only from the date that policy comes into force.

Cashback

7.1 How cashback is earned

Cashback is offered on qualifying spend and through promotional campaigns. The qualifying spend, the cashback rate, and any caps are shown in the app or in the campaign terms, and may differ by card, category, merchant or campaign.

KOSH may vary or withdraw any cashback offer at any time. The rate displayed at the time a transaction is processed is the rate that applies.

Cashback is separate from KOSH Points and is earned in addition to them. Earning points does not reduce the cashback you receive, and receiving cashback does not reduce the points you earn.

7.2 Payment and limits

Cashback is credited to your account as KOSH Rewards. Once credited it is KOSH Rewards, and section 8 governs how it may be used and when it expires.

Cashback is credited automatically once the qualifying transaction has settled. You do not need to claim cashback in order to receive it. The separate claim step described in section 8.2 applies only when you move your KOSH Rewards balance onto your card.

Cashback offers may be subject to caps, including per transaction, per campaign or per period. Where a cap applies it is shown in the app or in the campaign terms, and KOSH may set, vary or remove caps at any time.

7.3 Expiry

Cashback does not expire as cashback, because it is credited as KOSH Rewards. Any expiry is governed by section 8.3 and by the terms of the campaign under which it was earned.

KOSH Rewards

8.1 What it is

KOSH Rewards is a promotional reward granted by KOSH at its discretion. It is granted as cashback, and as a welcome bonus, referral reward or campaign reward.

KOSH Rewards is denominated in US Dollars for display purposes only, so that you can see its redemption value in the app. KOSH Rewards is not US Dollars and has no independent monetary value.

KOSH Rewards is not a deposit, not electronic money, not a stored value or payment instrument, and not a currency. Holding KOSH Rewards gives you no claim against KOSH or any third party for cash, funds or property, confers no ownership of any money held by KOSH, and creates no debt owed to you. It is not protected by any deposit guarantee, compensation or insurance scheme.

KOSH Rewards is a promotional benefit only. It is not consideration, wages or payment for goods or services, and unclaimed KOSH Rewards does not form part of your account balance or funds.

8.2 Use

KOSH Rewards is used by claiming it to your KOSH spend card. Once claimed, the value is available on your card and can be spent in the same way as your own funds.

Spend funded by claimed KOSH Rewards counts as eligible spend. It earns KOSH Points and cashback on the same basis, and subject to the same rates, limits and caps, as spend funded from your own balance.

A minimum amount applies before KOSH Rewards can be claimed. That minimum, and any other conditions on claiming, are shown in the app. KOSH may add to, change or remove those conditions at any time, at its sole discretion.

KOSH Rewards cannot be withdrawn as cash, transferred to another person or account, or exchanged for cash. It has no value outside the KOSH app.

8.3 Expiry

Expiry of KOSH Rewards is set campaign by campaign and varies between campaigns. There is no single expiry period across all KOSH Rewards.

The expiry period applying to any KOSH Rewards you receive is shown in the app at the time it is credited to your account, and those terms govern that credit. Where a campaign sets no expiry period, that KOSH Rewards does not expire while your account is open and in good standing.

Unused KOSH Rewards expires at the end of any applicable period. Expired credit is not recoverable or reinstated.

9. Cancellation, modification and account closure

KOSH may cancel, modify, reduce, suspend, withdraw or remove any reward, reward type, earn rate, multiplier, redemption option or benefit at any time and at its sole discretion. This applies whether or not the reward has already been earned, accrued or credited to your account.

On closure, suspension or termination of your KOSH account, for any reason and whether initiated by you or by KOSH, all rewards held in that account expire automatically and immediately. This includes KOSH Points, cashback and any unclaimed or unspent KOSH Rewards.

Rewards that expire on account closure:

• have no cash value and are not refundable, redeemable or payable in any form
• cannot be transferred, assigned, gifted or passed to any other person
• cannot be transferred to, reinstated in, or claimed under a new account, whether that account is opened by you or by any other person

Opening a new KOSH account, or having a closed account reinstated, does not restore any reward forfeited on closure.