No, Arion Rewards are in the form of refunds and discounts.

In order to be eligible for a specific reward level, you have to use a certain number of services* from us. In order to be eligible for level 3 or Premía you also need to meet certain requirements*.

*In order to be eligible for level 3 you need to have a financial position of more ISK 10 million or have a company which is a corporate customer of ours, plus have three active services.

**Condition for Premía membership: You need to have a financial position of more than ISK 40 million.

See here for further details.

You get the refund one month after you pay the annual fee.

The refund is part of Arion Rewards.

Once you have signed up for Arion Rewards, you may be eligible for a refund on your insurance – provided you have no claims.

Regular income
You must have reached a certain minimum turnover* on your account in three of the last four months.

Active payment card
You must have used a debit or credit card from us at least once in the last two months.

*The minimum turnover is ISK 250,000 a month. Note that turnover between your own accounts at Arion Bank does not count.

You can view the different reward levels in the app or on our website.

Once you have signed up, you can see what level you are at.

You can also see what services you can add to level up and get more rewards.

Note that for level 3 and Premía you have to meet certain other requirements.

By financial position, we mean the balance on your accounts, supplementary pension savings (Lífeyrisauki), and custody portfolios.

Please note that account balances must have met the required threshold consistently over the past two months.

In order to sign up you need to have a version of the app which supports Arion Rewards (iOS 3.59.0 or higher and Android 3.50).

Unfortunately, it’s not possible to sign up for Arion Rewards via online banking.