“Goodbye miles, hello ScotiaPesos! Change and travel on all airlines (…) If your program changed, don’t change your desire to enjoy.”
That is part of the message that Scotiabank recently sent to potential clients, inviting them to be part of the bank and taking advantage of the situation of Banco Santander’s recently launched benefits program, called “Santander Rewards”, which has suffered criticism from users.
In general, customers question that with the new scheme they lost part of their benefits – such as free bags for flights and Latam Pass mileage accumulation rates – or that they cannot access the new levels (2 and 3) established by the entity.
Santander introduced a new logic: the more products, seniority in the bank and usage a customer makes, the greater the rewards.
Santander introduced a new logic: the more products, age and use a customer makes, the greater the rewards.
Faced with this situation, banks have reinforced benefits to their clients, offering better mileage accumulation rates and even new agreements with airlines.
A week ago, Bci’s MachBank announced its alliance with JetSmart, which includes exclusive benefits and discounts not only for customers with debit and credit cards of the digital bank, but also for those who use the Bci and Lider Bci cards.
The agreement includes discounts of up to 40% on domestic flights and up to 30% for the airline’s international routes. “This is a permanent alliance, which contemplates the progressive incorporation of new benefits during the first half of 2026,” explained the bank.
Meanwhile, Banco de Chile maintains an alliance with Sky, and on the website they project that “the new Travel Sky Plus alliance will be for all clients.”
Points to redeem
The accumulation of points is added to the delivery of benefits. In the case of “CMR Points” from Banco Falabella, when paying with the CMR Mastercard in stores associated with the brand, one point is awarded for every $200 spent, which is then used to redeem part of the value of the ticket, tourist packages or hotel stays through Viajes Falabella.
Banco Falabella also offers CMR Elite card users two free suitcases per year when purchasing at the bank’s travel subsidiary.
At Itaú they have an alliance with Cocha that allows customers who have a credit card from the bank to redeem “Itaú Points.”
What are the changes that the Santander program brings?
The financial institution’s new scheme establishes new categories and includes Life card users.
A week after its launch, “Santander Rewards” has faced criticism from the bank’s clients.
Among the most common annoyances is the perception that accumulating points to access higher levels is very difficult.
For example, to be level 2, you must exceed 10 thousand points and have the credits paid up to date. In the case of category 3, you must obtain more than 30 thousand points, have no delinquencies and have a monthly remuneration payment equal to or greater than $ 600 thousand.
Added to the list of criticisms was the notion of fewer benefits, since, for example, awards such as free bags for flights, which were previously awarded automatically to those who had the “WorldMember” and “WorldMember Limited” cards, now depend on the level of the customer, available to those who are in category 2 and 3.
Another difference is the Latam Pass mileage accumulation rates. If previously one mile was awarded for every US$1 to WorldMember card customers, now it will depend on the level: the first will receive 0.7 miles with that card; level 2, 0.84; and the third – and highest – 1.05.
The program adds a new benefit: adding qualifying points for the Latam Pass classification measure.
In addition, the new scheme includes Life card users, who previously did not have access to mileage accumulation benefits. Thus, the “Santander Rewards” program aims to reach 1.2 million users.
