Since launching out of beta in late 2022, we’ve introduced some great features to Algbra like seamless donations, the ability to track and offset your carbon footprint, our revolutionary Cubes feature and more. And we’re not slowing down any time soon.
As we focus on bringing you the best in ethical financial services, we've made the decision to bring our rewards offering to an end on 30th June 2024.
We know that you might have some questions, so we've put together some FAQs below for you.
Q: Why are you ending your rewards offering?
A: The closure of Algbra Rewards and the Super Cashback program is a decision rooted in our commitment to ethical practices and sustainable business operations. Here are the key reasons for this decision:
Transparency and Fairness: We believe in operating transparently and ensuring all our offerings are fair to our customers. After thorough review, we found that the structure of our cashback program could potentially lead to disparities among our customers, benefiting some more than others. We aim to provide services that are equitable and just for all.
Sustainable Business Practices: Our commitment to sustainability extends beyond environmental concerns to include economic sustainability. The Super Cashback program, while popular, was not sustainable in the long term. We want to ensure that our business practices do not compromise our ability to provide high-quality services to our customers consistently.
Focus on Core Services: By discontinuing the Algbra Rewards and Super Cashback programs, we can redirect resources and efforts towards improving our core services. This allows us to better meet the needs of our customers with products and services that align more closely with our ethical and sustainable principles.
We understand that this change may be disappointing for some customers, and we appreciate your understanding and support as we make these necessary adjustments. Our goal is to continue providing financial services that you can trust and rely on, grounded in ethical practices.
Q: What will happen to the rewards I have already earned?
A: Rewards have always been paid directly into your Algbra account, making them available for you to use straight away without having to move or redeem them. We won't be deducting any funds, and the funds that you have received remain yours.
Q: Are there any new programs or services being introduced?
A: We're developing some exciting new features and enhancements to make your Algbra experience even better. Whilst we have no immediate plans to replace our rewards offering, we'll be focusing our resources and efforts towards our core services, ensuring that our offering aligns with our ethical and sustainable principles.
Q: I'm still waiting on cashback for a transaction made before the closure date
A: Provided that you have not reached the £22.50 cap for the month, you'll still receive your cashback, normally within 7-10 working days but in some cases it can take up to 30 days. As a reminder, our Super Cashback reward applies to eligible transactions made via Google Pay or Apple Pay only.
If you have any further questions about the rewards offering, or anything else, please don't hesitate to reach out via the in-app chat, or by sending an email to support@algbra.com.