Terms & Conditions


The PUNTOS Program (“Program”) offers Oriental Bank (“Bank”) customers the opportunity to accumulate points through transactions or activities determined by the Bank from time to time, to redeem rewards subject to these Terms and Conditions applicable to the Program.


  1. By acquiring any of the products or services listed in section Accumulation of Points below or any other that qualifies under the Program, as determined by the Bank from time to time (collectively and individually the “Affiliated Product“), the Customer (as defined below) will be automatically enrolled in the Program. Provided that, for the purposes of membership in the Program, only the primary account holder under the Affiliated Product shall be considered as the “Customer“; in other words, whoever appears first on the account according to Bank records (“Primary Holder“). Membership in the Program is limited to one (1) per Customer. If the Customer acquires additional Affiliated Products, they will be added under the membership of the first Affiliated Product contracted by the Customer as Primary Holder. Each Affiliated Product will result in one single membership.
  2. Every transaction and activity that qualifies for the accumulation of points and that is performed by any other account holders/cardholders authorized on the Affiliated Product under the membership of the Customer shall only benefit and be attributed to the Customer. On the other hand, transactions and activities performed by the Customer under the Affiliated Products of which the Customer is not the Primary Holder will not qualify for the accumulation of points by that Customer. Under no circumstance may a single account or transaction accumulate points for the benefit of two or more Customers.
  3. To keep your enrollment and membership in the Program, the Customer must have and maintain at least one active Affiliated Product. Customer membership under the Program (“Membership“) will end when the Customer is no longer the Primary Holder of any Affiliated Product. Eligibility for banking products or services under the Program is subject to changes.
  4. The Customer may start accumulating points in the Program by obtaining and using any Affiliated Product subject to these Terms and Conditions.
  5. Only the Customer or a person duly authorized by the Customer may (i) have access to information regarding the Membership and (ii) redeem points for Program rewards and/or services, in this case only on behalf of the Customer. The Bank reserves the right to request, at the Customer’s expense, additional information that it deems relevant to verify that authorization.
  6. The Bank reserves the right to review the accumulated point balances and to deduct points accumulated under the Program in violation of the provisions of these Terms and Conditions.

Accumulation of Points

  1. The Customer will accumulate points (i) by purchasing goods or services with the MasterCard Gold PUNTOS and/or MasterCard Business PUNTOS credit cards (“Affiliated Products“) issued to him/her/it; and/or (ii) for those additional transactions, activities and promotions that the Bank establishes from time to time. Cash advance transactions and balance transfers of cards issued by the Bank do not qualify for accumulation of points. The Customer acknowledges that the extension of a revolving credit plan and the issuance of a credit card are subject to credit approval.
  2. The accumulation of points per calendar year is unlimited.
  3. For every Affiliated Product that does not reflect any activity for one year, the points accumulated and not used under the Customer Membership will expire automatically in their entirety on the date corresponding to the first anniversary from the last activity on that Affiliated Product. For purposes of this paragraph, activity on credit cards means that (i) the account maintains current balances (with no arrears) and (ii) transactions are being made (purchases of goods and services, cash advances or balance transfers). For activity purposes, charges assessed by the Bank to the account (such as annual fee, charges for consumer credit insurance premiums associated with the Cards, if applicable, among others) are not considered transactions. In addition, unauthorized charges incurred on the Cards, the payment of fees for late payments, returned checks or other similar charges and the payment of the annual fee will not count toward accumulating points.
  4. Credits for reversed transactions, refunds, disputed transactions, cancelled transactions, credits made to the account through points of sale (“POS“) and negative adjustments by POS will result in the reduction or elimination of points. Other adjustments may also result in the reduction or elimination of points. Any of the aforementioned events can result in a negative point balance.
  5. If any of the Affiliated Products under a Membership are in arrears for more than ninety (90) days (blocked or not) or blocked due to improper or illegal use of the Affiliated Product, or shows signs of similar events of default as determined by the Bank from time to time (“Events of Default“), the Membership will be cancelled and the points automatically eliminated without prior notice. In such cases, the points accumulated under the cancelled Membership will not be reestablished. However, if the Affiliated Products are banking cards and they were blocked due to loss, theft, damage or destruction, the accumulation of points will be temporarily suspended until the card is restored. In such cases, once the card is restored and the temporary Membership suspension is lifted, the accumulation of points will be reestablished. Unresolved Events of Default under the terms indicated in the section “Redemption of Points for Rewards“ below will have the consequences indicated therein.
  6. Without limiting the cancellation of points for any other reason under these Terms and Conditions, the points accumulated by Customers will expire on the first business day of the fourth November from the date on which they were accumulated. Business days will be every day other than Saturday, Sunday, holidays or any others when the Bank is not open for normal operations.
  7. The Customer will receive by regular mail a Quarterly Program Report (“Report“) that will include relevant information regarding the points accumulated, redeemed, expired, balances, etc., during that period.
  8. Any discrepancy in terms of points, either accumulated, expired, redeemed, cancelled, bonuses, balances and any other, must be reported in writing to the Bank at the address specified in the Report (currently, Oriental PUNTOS Redemption Center, P.O. Box 1908, Saginaw, MI 48605-1908), no later than thirty (30) days from the date of the transaction or the Report containing the disputed matter, whichever date is later.

Redemption of Points for Rewards

  1. The Customer can redeem the accumulated points for any of the rewards contained in the Program rewards catalog in effect at the time of redemption (“Catalog“) as long as the necessary points for the desired reward(s) have been accumulated or purchased and are valid. To redeem the points, the Customer has to have his/her/its Membership in the Program active and the Affiliated Product(s) thereunder must be current and in compliance with the terms of the agreement that governs them. If any of the credit Affiliated Product(s) under the Membership shows arrears of thirty (30) days or more, the Customer will not accumulate points or be able to redeem the points accumulated under the Membership until the account becomes current; in these cases, the points will be subject to cancellation as provided in the “Accumulation of Points“ section. In the event that the Affiliated Product(s) are in arrears for sixty (60) days or more, the points accumulated to date will be eliminated and the Customer may not redeem them.
  2. To redeem points and/or have access to information on their Membership through the Bank’s website (www.orientalbank.com), Customers must complete the registration process on that website through the section “Access Your Accounts.“
  3. The points redeemed will be immediately deducted from the points balance.
  4. The rewards will be sent to the Customer only at the address on record in connection with the Program.
  5. When requesting that the rewards be delivered to an address other than the Address on Record, the Customer assumes all responsibility for the shipping and delivery of that reward to the other address. The Bank reserves the right to confirm any instruction received from the Customer in accordance with applicable procedures. If the reward is returned by the Postal Service or the shipping company due to unsuccessful delivery and a second delivery attempt is required, the delivery costs could be charged to any of the Customer’s accounts, products or services under the Program.
  6. All rewards and reward certificates are subject to availability. In the event that, for reasons beyond the control of the Program, it is impossible to deliver the reward published in the catalog, the Bank reserves the right to substitute or replace the reward with another of similar value and/or characteristics.
  7. Each reward certificate will include all information necessary for the use thereof. The reward certificates received through the Program have no value except when used under the terms and conditions that accompany them. The reward certificates may only be redeemed for the reward they represent or, if it is unavailable, for one reasonably similar.
  8. Once the points are redeemed for any other reward (including travels, among others), they may not be returned, replaced, reimbursed, reinstated, exchanged for cash, credit or other rewards or points. There will also be no cash reimbursement, partial or total, when the rewards redeemed have been lost, destroyed or stolen.
  9. The products shown in the Catalog have been manufactured by independent suppliers and are subject to availability. Any claim in regards to a reward or certificate must be processed through the entity that supplies the article or service, subject to their terms and conditions. Oriental Bank and Morley Companies, Inc. assume no responsibility for warranties or representations of any kind, express or implied, with respect to such items, or for any loss, expense, accident or inconvenience that may occur in relation to the use of these items or as a result of defects thereof. ORIENTAL BANK AND MORLEY COMPANIES, INC. SPECIFICALLY REJECT ANY IMPLIED WARRANTY, WARRANTY OF MERCHANTABILITY OR USE FOR ANY PARTICULAR PURPOSE. The merchandise properly dispatched to the customer cannot be returned. If a defective item is received, the Customer must notify the Program Redemption Center within fifteen (15) days from receipt of the item so it can be exchanged. Notification may be made by telephone or in writing to the attention of the Oriental PUNTOS Redemption Center: Call: 1.866.440.2281; Fax: 1.800.868.6231; email: programapuntosoriental@morleynet.com; Mail: P.O. Box 1908, Saginaw, MI 48605‑1908.


  1. Subject to compliance with the Program terms, Customer membership will remain in effect as long as an Affiliated Product is maintained. Without limiting termination for other reasons, when a Customer no longer has any Affiliated Product, Membership will be automatically cancelled. The Customer agrees that if Membership is cancelled, voluntarily, involuntarily or for any other reason, the Customer will remain liable for all transactions made by the Customer or any other authorized person prior to the cancellation of the Membership, including, but not limited to, those transactions that result in a negative balance of points, in which case the Customer will be liable for any expenses incurred by the Bank as a result of granting benefits in excess of the points available.
  2. Points are property of Oriental Bank. The Bank reserves the right to audit your Membership in the Program and the Affiliated Products at any time and to verify strict compliance with the terms and conditions of the Program. If an audit shows any type of irregularity, including that the Customer is not current with his/her obligations the Bank, or if the Customer or another person authorized by the Customer violates any of the provisions, terms and conditions of the Program and/or of the Affiliate Products, including without limitation, fraud, excessive transactions, or other factors that constitute abuse of the Program, the points balance, as well as the accumulation thereof and/or Program membership will be cancelled and any expense incurred by the Bank for said concept may be charged against any of the Customer’s accounts in the Bank. Provided that, if there are no such accounts or if their available balance is not enough for the Bank to charge such amounts as contemplated, the Customer agrees to pay immediately to the Bank, on demand, any amount owed. Any disqualification from the Program could be temporary or permanent at the discretion of the Bank. Any decision regarding the termination of Membership (including the cancellation of points) will be final and binding.
  3. If the Customer, for any reason, ceases to be a member of the Program, the valid points accumulated and unused on that date will be cancelled within thirty (30) days from the date of termination of the Membership. However, the Customer can redeem the valid accumulated and unused points at the termination date within that period. That grace period for using the points will not apply when the termination of Membership is due to arrears of more than ninety (90) days in the case of credit Affiliated Products or for improper or illegal use of the Affiliated Product.

General Program Information

  1. The Program is offered by the Bank. The Bank reserves the right to, at any time and without prior notice, eliminate, add, amend or modify the format, components, terms and conditions of the Program or any part of the Program or suspend or eliminate the Program or any part thereof. Without limitation thereto, that right includes the right of the Bank to amend or modify the number of points required to redeem certain rewards; impose caps, fees or both regarding the accumulation of points, redemption of Rewards or both; cancel or add rewards; eligibility of cards or other banking products or services as Affiliated Products; among others. In addition, the Bank reserves the right to cancel or terminate the Program at any time subject to prior notification to the Customer at least thirty (30) days before the effective date of termination. During that period, the Bank may, at its discretion, modify or cancel some or all of the rewards valid at that time. The right of the Customers in the Program to accumulate points and redeem those accumulated will terminate at the end of the 30 days following the date on which the Bank sent the termination notice.
  2. Program points cannot be sold, assigned, encumbered, exchanged or purchased, nor in any way transferred. If any person obtained points or rewards in this manner, they will be considered fraudulently obtained and will be voided. In the case of fraud, abuse of privileges of the Program (including any attempt to sell, exchange or transfer points or any other interchangeable instrument for points) or violation of the terms and conditions of the Program, the Bank reserves the right to cancel the Membership of the Customer and/or the points accumulated.
  3. The Bank reserves the right to resolve any claim arising from transactions related to the Program through the granting of points.
  4. By participating in the Program and accepting or using the rewards provided thereunder, the Customer releases, discharges and holds harmless the Bank, its subsidiaries, affiliates, shareholders, directors, officers, employees, agents, contractors, representatives and the issuing institution (individually and collectively, the “Released Parties“) from any claims, damages, or liability of any nature that may result from the redemption of points, the use of rewards redeemed through the Program or any Affiliated Product or any activity related to this Program, including, without limitation, bodily injury or death. Without limitation thereto, the Released Party is not liable for the loss, destruction or theft of the rewards or certificates; or for any act or omission of the reward providers. Any claim in relation to the reward or certificate must be made to the supplier of the product or service, subject to the terms and conditions thereof. The Bank does not guarantee, or make any representations of any kind, express or implied, with relation to this promotional offer or the products and services that are included in the Program. The Bank is not responsible for certificates presented in affiliate businesses after the expiration date, or for them being rejected for being incorrect.
  5. The Customer is responsible for any tax, including federal, state or any other, or any other paperwork or expense related to the receipt or use of any reward redeemed through the Program, including, without limitation, excise taxes, taxes on merchandise, taxes on international trade, customs fees, duties, licenses, permits or airport surcharges.
  6. If any offer is determined to be in violation of federal or state laws or regulations, it will be deemed null and void and will be subject to changes, if necessary, to comply with applicable laws and regulations.
  7. The Bank has undertaken all reasonable efforts to guarantee that the information in the Program Catalogue is accurate. The Bank is not liable for omissions or typographical errors.