How to create and manage Point banks

Point banks are dedicated pools of points used to fund initiatives like awards and incentives. Instead of drawing from individual users’ peer-to-peer allocations, points for awards, nominations and incentives are deducted from their linked point bank. This keeps programs accountable to their own budgets and makes it easier for admins to monitor usage in real time.

Point banks are flexible. You can create as many as you need, whether by department, cost center, or campaign (e.g., “Employee of the Month” or “Wellness Challenge”). Each bank displays usage progress in real time, helping admins monitor budget usage and avoid overspending.

• Funding company-wide award programs (e.g., quarterly MVP awards)
• Allocating recognition budgets to departments or cost centers
• Running campaign-based initiatives such as wellness challenges or incentives
• Keeping award budgets separate from peer-to-peer allocations
• Tracking usage in real time to support finance and HR budget planning

Creating a new point bank

1. Navigate to Admin > Points and rewards > Points.
2. Select the Point banks section and click + Add point bank.
3. Complete the Add point bank panel:
   • Point bank name and optional description
   • Annual point spend (the maximum number of points the bank can fund)
   • Low balance notification (assign admins to be alerted when funds drop below 10%)
4. Click Save. The new point bank will appear in the overview table and be added to your Estimated annual spend.

Managing point banks

• Monitor point bank usage from the overview table using the progress bar and real-time point balance updates.
• When a point bank is near or has reached 100% point usage, use the Edit function to increase its allocated budget or replace it with a new one.
• If a point bank is depleted and no longer required, use the Delete option to remove it from the list. All historical transactions will remain available in reports and analytics.

Important to know

• If a point bank runs out of points, the associated campaign is blocked until more points are added or a new point bank is provided. This means linked awards cannot be given, and nomination winners cannot be finalized. Incentive claims can still be submitted but will remain pending until the point bank is replenished or replaced.
• The same applies if a point bank is deleted while still linked to an active campaign. Until it's topped up or a new point bank is assigned, linked awards cannot be given and incentive claims cannot be approved.

• Set up separate point banks for each major program to simplify budget tracking.
• Use descriptive names (e.g., “Q1 Sales Awards” or “Wellness Campaign 2025”) to make reconciliation easier.
• Monitor point bank usage to avoid last-minute shortages during campaigns.
• Assign key admins to low-balance notifications so the right people are alerted.

Q: Who can use the points in a bank?
A: Access is managed through awards and incentives, not the bank itself. Anyone with permission to give an award or approve a claim draws from the connected point bank.

Q: What happens if I delete a point bank?
A: The link between the point bank and its associated awards/incentives is broken. Those initiatives will no longer issue points until connected to a new bank.

Q: What happens if a point bank runs out of funds?
A: Awards and incentives linked to that bank cannot issue points. Depending on the campaign type, Replenish the bank to restore functionality.

Problem: Awards cannot be issued

• Confirm the award is linked to an active point bank
• Check if the point bank was deleted or has run out of points
• Top up the existing bank or connect the award to a new one

Problem: Incentive claims not automatically approved

• Check if the incentive was setup without an approval process
• Confirm the incentive is linked to a point bank
• Check if the point bank was deleted or has run out of points
• Top up the existing bank or incentive the campaign to a new one

Problem: Point bank balance depletes faster than expected

• Review which campaigns (awards or incentives) are drawing from the bank

• Adjust allocations, redistribute campaigns across multiple banks, or increase the point bank budget

Problem: Admins not notified of low balances

• Ensure at least one admin is assigned to the Low balance notification field
• Verify email notifications are enabled and not blocked by IT filters