User FAQ’ s

If you have any doubts about how PENSUMO® works, here we’ll answer the most frequently asked questions that users usually ask themselves.

What is PENSUMO®? What are its advantages?

PENSUMO® develops a savings system that allows you to accumulate micro-contributions in your savings plan by buying from associated establishments. See legal information of PENSUMO® here

How much does PENSUMO® cost?

PENSUMO® is completely free. There are no payment services planned, if there were in the future they would be clearly and explicitly indicated.

What are the program requirements?

Registering on our website requires an active email address and, if applicable, a Smartphone to download our APP.

What channels or shopping experiences are available?

All PENSUMO®‘s associated establishments, both physical and online, including those listed on our website. See associated establishments.

Are the advantages of PENSUMO® guaranteed by a contract?

Yes. The consumer who wishes to participate in the loyalty system proposed by PENSUMO® is a natural person who, once registered in the system, becomes the user, as well as an insured person and beneficiary of the Savings Plan, where the contributions he or she obtains through his or her purchases in the associated establishments are accumulated. The consumer and PENSUMO® undertake at all times to comply with the obligations specified in the general conditions.

What is the relationship between Allianz and PENSUMO®?

When PENSUMO® was born (May 2009) an entity was sought to guarantee the solvency of the guarantees deposited in the Savings Plans, and security criteria took precedence over other criteria for which Allianz was chosen. However, there is no organic link, it is simply the insurance company that guarantees the funds received.

Why does the consumer have to take out a compulsory policy with Allianz?

At the moment it is the only insurance company that offers it, we suppose that because it is not an excessively lucrative business for a financial entity (viewed exclusively from the economic yield).

Is it a collective savings insurance?


What are the policy conditions for contributions?

They are those described in the same article 4 as well as in the certificate that is delivered to each insured person, a minimum interest rate of 0.5% is currently guaranteed plus a profit sharing (Article 7) on the portfolio of Allianz for these policies, less administration costs of the policy of 1% of the premium contributed.

Is there a requirement in the policy to make the contribution?

To be registered in PENSUMO® system, to be of legal age and that the monthly contributions add up to more than 0.10 cents (if they are smaller, they accumulate until reaching this amount without any penalty).

Are there commissions?

They are included in the expenses described in the policy and in the 1% certificates on the premium paid.

With respect to the Savings Plan redemption, the user may redeem the amounts credited to the personal account in accordance with the Policy Conditions in force with Allianz. What are these specific conditions?

The insured person first of all has a benefit guaranteed after 5 years of the insured person’s entry into the policy and additionally has the right to recover the full amount before that date under the following conditions:

  • One year after registration in this policy
  • The redemption value corresponds to 80% of the market value of its individualized mathematical provision or accumulated fund value including the shares in assigned profits.
What happens in case of non-payment of the trade to PENSUMO®?

If there is a non-payment on the part of the commerce, it would be claimed to this one appealing to the signed general conditions. Since November 2013, which has been launched to date, almost ten thousand sales operations have been carried out with PENSUMO® and all of them have reached the Savings Plan. The payments are monthly, when it has happened that there has been a return of a receipt by a merchant (by bank error), PENSUMO® has made the deposit of the contribution in the Savings Plan of the user; obviously afterwards it is claimed from the merchant.

Does it look like the consumer has to bear this loss?

The user should never “replace” this contribution. In the event of a breach of contract by a merchant, the contribution of that merchant to the user’s Savings Plan would not reach it and, appealing to the general conditions signed by PENSUMO® with the merchant, the courts would be seized to resolve it.

Is the return on Pensumo obtained by charging merchants for advertising or a percentage of what the consumer spends on the savings plan as a commission?

PENSUMO® business model is based on the amounts that we charge merchants for commissions and/or advertising. (The expenses in favor of PENSUMO® are almost non-existent as answered in question 4.

The consumer is unaware of the terms and conditions of the policy and cannot negotiate them either. Are there ransom or cancellation fees or other disadvantageous concepts for the consumer?

It is not true that the consumer is unaware of the policy’s terms and conditions, since they are available to the consumer before accepting them and can check them from their computer or smartphone without anyone who is making such acceptance conditional. We also have a customer service desk that you can call or write to us with any questions you may have. As regards the committees, it is answered in questions 6 and 7.

More information here