Spanish bank launches local version of Buy and Fly

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By: Wise Marketer Staff |

Posted on June 16, 2005

Spanish bank launches local version of Buy and Fly

In the first week of its launch almost 5,000 members have signed up for a new loyalty scheme launched by the Spanish bank Banesto in conjunction with Landround Plc (the operator of the UK's Buy and Fly! loyalty rewards programme).

The programme, Compra y Vuela (which is Spanish for Buy and Fly), was launched by Banesto (aka. Banco Español de Crédito) and Landround. The programme is basically a Spanish version of Buy and Fly!, which currently operates in the United Kingdom and the Republic of Ireland.

Point awards Banesto (part of Grupo Santander) is issuing points to customers when they spend on one of five selected credit cards. Depending on the card, every €6.00, €9.00 or €12.00 (approx. US$7, US$12, or US$15) spent will earn collectors one point in the programme. Once earned, points can be redeemed for travel rewards including flights, cruises, apartments and holiday vouchers.

Rewards start from 100 points and, according to Landround, as little as €2,400 spent on a credit card (approx. US$2900) should earn a collector enough points for a seven-night stay for four in a luxury apartment in (for example) Mexico, the Canary Islands, or Florida.

Expansion planned An integrated communications campaign, including television and internet advertising, direct mail and in-branch support, is being used to generate national awareness of the programme.

Over the coming months the programme will be rolled out across Banesto's entire product portfolio, making it easier for collectors to accumulate an increasing number of points across all their financial services. Landround also expects to announce additional point-issuing partners in Spain early in 2006.

For the launch of the programme, Banesto is offering customers enough points for two return flights to Paris when they spend their first €1000 (approx. US$1212) on Gold or Platinum cards, or €2000 (approx. US$2424) on a Gold TP card.

For additional information: ·  Visit Banesto at ·  Visit Landround at