The scheme works by crediting 10% of the value of each recharge to the customer's Bonus Bank account. The accrued balance can be used to subsidise or even completely offset the cost of a future handset purchase.
Director of marketing John Casey said "Vodafone's Bonus Bank gives our prepaid customers a return on all recharge spending and means customers who want the freedom, and flexibility of prepaid can also upgrade their mobile without paying for a new device outright."
Customers can register for Bonus Bank by texting BONUS to 126687 (1BONUS), or by visiting www.vodafone.com.au/bonusbank.
As usual with such programs, there are strings. Vodafone Extra recharges are excluded, and Bonus Bank dollars cannot be redeemed until at least $10 has accrued and 90 days have past after registering. If more than 90 days passes between recharges, the entire balance is forfeited. If you don't use your phone for 180 days, your program membership is terminated until you re-register.
If the scheme ends you will only have 90 days to redeem any accrued balance, and VHA reserves the right to alter the exchange value of Bonus Bank dollars at any time.