MotorV8 cardholders can transfer to new BONUS contactless Mastercard
Help is at hand for those MotorV8 card holders who did not spend their available credit before the Dec 31 deadline.
All cardholders were notified about the closure of the MotorV8 incentive programme and the fact that the MotoNovo Finance Visa cards would stop working on 31 December 2020.
And in response to these communications, the majority of cardholders did indeed spend all their available credit before the 31 December deadline.
However, there are a number of people who did not, and whose accounts have a credit balance at this time, but now they have no working card to enable that credit to be spent.
Because the MotoNovo Finance prepaid Visa cards were ’non cash vouchers’ to satisfy HMRC requirements, unspent credit cannot simply be converted into a ‘straight cash funds transfer’ without risking a range of tax/National Insurance implications for everyone.
Therefore, in order to help as many people as possible in this situation Performance Bonus has brought forward the launch of our new BONUS trade incentive scheme and can transfer unspent MotoNovo prepaid Visa card credit onto the new (non cash) BONUS prepaid contactless Mastercard – valid for 36months with no monthly management fee.
To achieve this transfer, the BONUS card costs £9 to set up and there’s a 3% funds transfer charge (both deducted from the MotorV8 Visa card closing balance).
Cardholders can manage their BONUS cards on the BONUSme.uk App, where they can monitor their balance, freeze/unfreeze their cards, see their PIN reminder plus keep an eye on their spending and Bonus credits.
Launching shortly into the dealer market, there is even the facility for dealers to use the BONUSme app and card to encourage introductions and reward their customers for introducing friends and family to the dealership.
We are in discussion with a number of motor trade supplying companies to encourage them to offer their own rewards through the new BONUS card (the vision being ‘one card – multiple ways to load it’). BONUS Cardholders will receive full details shortly.
With the lockdowns of 2020-21 inflicting significant economic hardship on whole sectors of the economy – many independent dealers being among them, we believe that the time is perfect for BONUSme and we are determined to emerge into 2021 with a stronger motor trade incentive programme even than MotorV8.
If you would like to transfer funds to the BONUS card ASAP and understand that the £9 card fee and 3% transfer will be deducted from the balance transferred, please simply click on this link to access the secure form to request your credit balance be transferred from your old MotoNovo Visa card onto your new contactless BONUS prepaid Mastercard.
The BONUS Card and electronic money (‘e-money’) loaded on it are issued by Payment Card Solutions (UK) Limited trading as B4B Payments, a company registered in England and Wales (registration number 05941947) and registered office at 21-24 Millbank, London, England, SW1P 4QP. Payment Card Solutions (UK) Limited is authorised and regulated in the UK by the Financial Conduct Authority (Firm Reference Number: 930619) for the issuing of e-money. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
To use the BONUS Card you must be at least 18 years old. B4B Payments may cancel the Card (and stop providing associated services) if we find out you are not eligible for it.
Following the application for the card on your behalf by Performance Bonus Ltd, B4B Payments may ask to see the evidence Performance Bonus holds to check who you are and where you live or may require documentary evidence from you to prove this and/or may carry out checks on you electronically. B4B Payments may also carry out checks on your identity an on-going basis through the duration of the period you are a BONUS cardholder. You must agree to provide any such information and documents as may reasonably be requested for your card not to be cancelled.
The MotoNovo Finance prepaid Visa card is issued by Contis Financial Services Ltd who is authorised by the Financial Conduct Authority to issue e-money (Firm Reference Number: 900025) and is a member of Visa.