Recognize supports over 250 gift cards for redemption by your staff, exchanging points earned from recognitions received for those rewards you've enabled!
Depositing Funds to your Rewards Bank
1. Recognize does not charge a fee per redemption. There is a deposit fee of 5% for credit cards and a $30 deposit fee for ACH Pull. Check and ACH Push deposit options have no associated fee. Beyond that, 100% of the money deposited into the system goes to your gift cards. If a user redeems a $5 gift card, they get a $5 gift card, and there is no fee to the company.
2. You transfer the money to us, we place it in a holding account, and it is your money until redeemed.
Fees for depositing:
|ACH (push)*||FREE||(Recommended, takes 24-48 hours)|
|ACH (pull)*||$30||(Takes 5 business days)|
|Wire transfer||$16||(Takes up to 24 hours)|
|Checks||FREE||(Could take several weeks to receive)|
|Credit/Debit cards||5%||(Usually immediate)|
Push - Transaction is initiated and funds are transferred from your sending account — you are pushing the money into the destination account.
Pull - Transaction is initiated and funds are transferred from the receiving account — you are pulling the money in from the source account.
3. There is a minimum deposit amount of $1000
- When sending a request to top up your rewards balance, please include the amount you would like to deposit (minimum of $1000), and how you wish to deposit your funds (Check, ACH push, ACH pull, Credit)
- The address for sending checks to top up your balance is:
760A Gilman Street
Berkeley, CA 94710
5. Recognize provides downloadable reports for accountants.
6. Once we receive your payment, you'll see that line item in the Transactions table in the Rewards admin. When you go to the rewards catalog and click Create a reward in the menu, you'll now have the option to add a gift card.
If you wish to cancel your account and have your remaining rewards balance refunded to you, there is a $50 fee for returning money from a rewards balance, and the refund must come by way of a check.
If your company deposits $1,000 for gift cards via check and staff redeem $250 of gift cards, and your company wants the balance back, we'll send you a check for $700.00.
|Return balance fee||-$50|
Holiday Rewards Deposits
Over the holiday period, we traditionally experience a significant increase in employee redemptions for rewards, and we're thrilled to see so many organizations taking the opportunity to reward and motivate their teams!
We recommend funding your rewards account balance with a bit more than usual prior to the Holiday rush, to help ensure a seamless experience for your staff, and provide you with the peace of mind that rewards will be distributed promptly!
If you have any additional questions about depositing funds for provider-fulfilled rewards, please reach out to us at email@example.com.