As an OP cooperative bank owner-customer, you earn OP bonuses for using our services. OP bonuses in your bonus account are used automatically to offset your banking service charges and insurance bills.
How do you earn OP bonuses?
Owner-customers earn OP bonuses on all transactions with us entitling to bonuses. As an owner-customer, you’ll earn even more bonuses in 2023, when we reward our owner-customers with additional bonuses; you’ll get 30% more bonuses for the whole year.
If, for example, the total amount of your home loan, fund assets and monthly insurance premiums is 100,000 euros, you earn OP bonuses worth 325 euros per year. According to the normal accrual, the same transaction volume would bring 250 euros in bonuses.
For what are my OP bonuses used?
The OP bonuses in your bonus account are used to pay banking service charges that would otherwise be charged from your current account. The bonuses are also used to offset insurance premiums. OP bonuses are used automatically to pay for service charges and insurance bills in the order that the charges arise.
OP bonuses are used, for example, for:
- daily banking services (current account, OP's digital services, OP’s payment card)
- loan service and origination fees
- home, family and vehicle insurance premiums
- custodial and portfolio management fees for savings and investments
- fees for legal services
- OP Koti's real estate commissions
A minimum balance of 10 euros is always left in your bonus account for the payment of banking service charges.
Any unused OP bonuses will expire after five years from the time you earned them. Owner-customers will get a notification of any expiring OP bonuses two months before the expiration date.
OP bonuses awarded by OP Financial Group are tax-exempt to owner-customers. However, the exemption from taxes requires that the bonuses are used for banking and insurance services specified and selected by OP Financial Group and the Group’s other service fees. Because of this, owner-customers can’t redeem OP bonuses for cash or decide themselves how to use them.
Where can I view my OP bonus balance?
As an owner-customer, you can keep track of your current OP bonuses on a monthly basis on OP-mobile and the op.fi service. OP bonuses are paid monthly based on your use of OP’s services in euros during the previous month.
You'll find your up-to-date bonus accrual on OP-mobile as follows:
1. Log into OP-mobile.
2. At the bottom right corner, select More.
3. Select Owner-customer, and then OP bonuses.
In More, you can also see which services have earned you OP bonuses each month and how they have been used:
1. Select Messages.
2. At the bottom of the view, select % Bonuses.
3. From the messages, pick the month whose bonus accrual and bonus usage you'd like to see.
You'll see your up-to-date bonus accrual on the op.fi service right after logging in. Your current bonus account balance is shown below your account details in the OP bonuses section. Click on the balance to see your bonus account's transactions. The bonus account’s Transactions feed shows how many OP bonuses you've earned and how they have been used.