Red is the only account in Kuwait that offers a debit card cashback program for youth

Kuwait, 25 October 2020: Gulf Bank has launched their Red account for young customers with new features that suit their needs and complement their lifestyles. The account offers its users a free prepaid card upon opening the account or upon request, and automatically enters account holders into an annual draw for the chance to take home a cash prize equivalent to 12 times the student allowance. Gulf Bank is also the only bank in Kuwait that offers Red account holders a 10% cash refund on their monthly debit card spends, a cashback program feature unique to Gulf Bank.

Mohammed Al-Qattan, General Manager of Consumer Banking at Gulf Bank, said: “At Gulf Bank, we make it a point to design products that meet the specific needs of our customers and provide them with the banking services they require. Red is one of Gulf Bank’s most important accounts catering to our younger customers at the high school and university levels, with additional features that were introduced with the specific goal of enhancing their lifestyles. The account currently offers its users a free prepaid card, and is the only account in Kuwait that provides a cashback service on debit cards for youth, in addition to the opportunity to win a cash prize worth 12 times the student allowance. We encourage high school and college level students to learn more about the Red account and its numerous benefits, and we wish them all the best.”

Gulf Bank’s annual draw for its Red account, which will award one lucky winner a cash prize worth 12 times their student allowance, will take place in April 2021.

It is worth noting that the Red Account is a savings account for high school, college and university students who are between the ages of 15-25 years old. The account offers seasonal discounts at selected stores every month, and year-round discounts on various local shops and restaurants. The account also provides a distinctive Red branded MasterCard ATM debit card, along with free and immediate digital banking registration, activating the customer’s online, mobile and SMS banking services. Account holders can access their money immediately from any local bank account via SelfPay, iTunes and Google Play, and settle their phone bills using Gulf Bank’s mobile banking application. For any of their banking needs, Red Account users can also access Gulf Bank’s ATM and ITM network spanning many branches.