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For what are OP bonuses used?

OP bonuses are used to pay, for example, your insurance bill – sometimes even in full.

Earned OP bonuses are used for banking and legal services, insurance premiums and OP-Kiinteistökeskus real estate commissions.

You don't need to lift a finger to make use of your bonuses. They go to your bonus account on the basis of your previous month's transactions and are used automatically.
"I did not know that OP bonuses earned through my OP loan are used to pay for my home, life, travel and motor-vehicle policies. You do not always grasp that point when calculating personal spending."
Hanna-Mari‚ Service Designer, Fjord Helsinki

Package for daily banking services

OP bonuses are automatically used to pay for the package of daily banking services. The package consists of a current account, OP eServices, online bank statement as well as OP-Visa, OP-Visa Electron or OP-Visa Debit.

International payments

OP bonuses are automatically used for service charges for international payments made by a private person. Such services charges are paid using bonuses either in part or in full depending on the bonus pool available. OP bonuses are not used to pay fees that may be charged afterwards.

Foreign exchange commission

OP bonuses are used for foreign exchange commissions.

Loan service charges

OP bonuses are used for service charges for loans repaid automatically. Such services charges are paid using bonuses either in part or in full depending on the bonus pool available. If there are enough bonuses, the amount debited to the account is as much smaller as the service charge.

Annual and monthly loan guarantee fee

OP bonuses are automatically used for the annual and monthly loan guarantee fees if such fees are debited to the account. Such fees are paid using bonuses either in part or in full depending on the bonus pool available.

Loan service charges

Earned OP bonuses are used for loan service charges. Such charges are paid using bonuses either in part or in full depending on the bonus pool available.

You can see the use of your OP bonuses for insurance premiums immediately after the bill has been created in the billing system. Due to the disclosure obligation under the Insurance Contracts Act, insurance bills are delivered to customers over one month before their due date. Bonuses will be used before the delivery of the bill, so that any amount paid in cash is correctly shown in the bill. Insurance premiums paid using OP bonuses are not tax-deductible.

Insurance cover for home and family

OP bonuses are automatically used for premiums for home and family insurance, or Extrasure, such as

  • personal insurance, e.g. health and living allowance insurance
  • home insurance, fire, burglary, leakage and valuables insurance
  • boat/yacht insurance
  • pet and horse insurance
  • liability and legal expenses insurance
  • forest and forest fire insurance
  • traveller's and luggage insurance and travel liability insurance and legal expenses travel insurance.

 

Home and family insurance premiums are paid using OP bonuses either in part or in full depending on the bonus pool available. The bonus account must always has a minimum balance of 10 euros for the payment of banking service charges.

Motor vehicle insurance

OP bonuses are used automatically for premiums for motor vehicles, or Motor Vehicle Cover, such as

  • motor liability insurance
  • Crisis Cover that supplements motor liability insurance
  • Super, Maxi, Standard and Medium Motor Insurance.

 

Motor vehicle insurance premiums are paid using OP bonuses either in part or in full depending on the bonus pool available. The bonus account must always has a minimum balance of 10 euros for the payment of banking service charges.

OP Saving-for-retirement custody fees

OP bonuses are used automatically for OP Saving-for-retirement custody fees. If you do not have enough OP bonuses, the difference will be debited to your pension account.

Charges and fees related to OP unit-linked insurance

OP bonuses are used to charge operating expenses for the first premium of OP Unit-linked Insurance paid at a branch. Such expenses are paid using OP bonuses either in part or in full depending on the bonus pool available.

Mutual fund subscription fees

OP bonuses are used to pay the fees for mutual fund subscriptions performed at a bank branch. If the bonuses are not sufficient to pay the full subscription fee, the rest will be deducted from the subscription amount. At op.fi, any possible bonuses will not be used until the order has been confirmed. If OP bonuses are used for the subscription fee, the equivalent amount is used to subscribe for fund units. Subscription fees paid for using OP bonuses are not tax-deductible.

Subscription fees for index-linked bonds

Subscription fees for index-linked bonds are paid using OP bonuses either in part or in full depending on the bonus pool available.

Charges and withdrawal fees for OP-Private individual unit-linked insurance

OP bonuses earned are used for the asset management fee, management fees and withdrawal fees for individual unit-linked insurance.

Asset management fees and commissions

OP bonuses are used for Pohjola Asset Management fees and commissions. Such fees and commissions are paid using bonuses either in part or in full depending on the bonus pool available. Subscription fees paid for using OP bonuses are not tax-deductible.

Custodian services for book-entry securities and securities

OP bonuses are used for custody fees for domestic and foreign book entry securities and securities. If the bonuses are not sufficient to pay the full custody fee, the rest will be deducted from the custody account concerned. The fee paid for using OP bonuses are not tax-deductible.

Real-time stock price information and news on OP eServices

OP bonuses are used for monthly fees for the Internet-Market Information Service investment research, news package and price package. Such fees are paid using bonuses either in part or in full depending on the bonus pool available. Monthly fees paid using OP bonuses are not tax-deductible.

OP-eTrader fees

OP eTrader fees are paid using OP bonuses either in part or in full depending on the bonus pool available. Fees paid using bonuses are not tax-deductible.

Fees for one-time mutual fund subscriptions

Earned OP bonuses are used for fees for one-time mutual fund subscriptions.
OP bonuses are used for paying safe deposit rent and fees for document custody. Such fees and rents are paid using bonuses either in part or in full depending on the bonus pool available.

OP bonuses are used for legal fees, such as

  • estate inventory
  • estate distribution
  • partition of estate
  • last will and testament
  • continuing power of attorney
  • premarital/postmarital agreement
  • deed of gift

 

Such fees are paid using OP bonuses either in part or in full depending on the bonus pool available.

OP bonuses are used, for example, for

  • real estate commission
  • fee for appraisal
  • commissions for rented housing
  • fee for the contract of sale drawn up by OP-Kiinteistökeskus

 

OP-Kiinteistökeskus commissions and fees are paid using OP bonuses either in part or in full depending on the bonus pool available. OP bonuses will be used provided that the fee is a minimum of 50 euros.

OP-Isännöinti housing agency fees, OP-Tilikeskus fees or OP-Talohuolto fees cannot be paid using OP bonuses.

OP bonuses earned through loans related to a private customer’s business or farming are taxable income for the tax year during which such OP bonuses are used.

Information on used bonuses subject to tax can be found in the Own benefits section. You can find the section by logging into OP eServices and selection Benefits.

We will deliver a summary of the previous year's used OP bonuses subject to tax for the purpose of filling in a tax return either to the op.fi own archive or by post.

OP bonuses are valid for five years of their occurrence, after which they will expire.  Unused OP bonuses cannot be transferred or donated to another person.

Termination of owner-customer relationship

On termination of the owner-customer relationship, OP bonuses will be valid during the year of termination and for the next two years.

Family unit

When the owner of a family unit dies, earned OP bonuses will be used only for service charges payable by the death estate, after which they will be zeroed. This means that bonuses will not be used for transactions done by those involved in the family unit.

When the family unit is dissolved, the OP bonuses subject to tax earned through a loan related to business and farming raised by the member of the family unit are zeroed from the bonus account held by the owner of the family unit.