※Updated 2024.01.25
【What is Olive?】
Olive is a new financial service from Sumitomo Mitsui Banking Corporation (SMBC).
It combines various services like banking (SMBC app), credit cards (Vpass app), and points service (VPOINT app) into one account called “Olive account.” This makes it easier to manage and control all services through a single app.
Moreover, it allows integration with SBI Securities for managing investment accounts within the same app.
By using SMBC-linked services, you can earn V Points, with up to a maximum 15% return rate.
Accumulated V Points can be used for shopping, and you even get additional V Points as cashback.
It’s a significant service initiative by Sumitomo Mitsui to create an integrated “SMBC economic zone” in Japan, especially as the country moves towards cashless transactions.
If you already have a Sumitomo Mitsui Bank account, you can easily transition to an Olive account without changing your account number and enjoy additional benefits.
NOW There is a campaign offering a 1,000 yen point reward.
【1,000 Yen Reward Campaign is as below】
SF00149-0056635
＼Copy Paste the refferal Code and proceed to Step 1／
＼Create an account after Applying for the Campaign／
【Olive Card is Fabulous】
This new Olive Card, is the world’s first Flexible Debit & Credit card combined.
It’s a card that serves four roles: besides cash withdrawals at banks, you can freely choose between credit payment, debit payment, and point payment via the app at the time of purchase.
By linking it with Apple Pay or Google Pay, your smartphone becomes your wallet anytime, enabling easy shopping at stores where iD is accepted.
■【The benefits of using Olive are impressive.】
Apart from the basic perks like “free transfer fees to other banks” (currently in a release celebration campaign) and “free out-of-hours fees for Sumitomo Mitsui,” you also get additional advantages such as choosing “200 points for receiving your salary” every month.
Furthermore, by using features like touch payments at convenience stores, participating in the V Point Upgrade Program, and registering family members, the rate of point returns keeps increasing, reaching a maximum of 15% point returns.
Olive First Campaign is just nice
- Earn 1000 points by depositing money into your Olive account!
- Get up to 1000 points by using your Olive debit card!
- Earn up to 5000 points by registering and using Olive credit!
Steps to participate in the 1000 yen distribution campaign
Here’s a step-by-step guide on how the referral process works for the 1000 yen distribution campaign:
- Referrer’s Entry:
- The person referring others (the referrer) enters the campaign and receives a referral code.
- Referral Code Input:
- The person being referred (the referee) enters the campaign and inputs the referral code received from the referrer.
- Referee’s Entry:
- After inputting the referral code, the referee proceeds to open an Olive account.
- Deposit Requirement:
- To qualify for the 1000 yen V Points reward, the referee needs to ensure that the deposit balance in their Olive account is over 10,000 yen by the end of the following month after opening the account.
- Reward Distribution:
- Once the referee meets the deposit requirement, both the referrer and the referee receive 1000 yen worth of V Points each.
So, both the person referring and the person being referred get rewarded with V Points when the conditions are met.
After entering the referral code and completing the ‘Entry’ process, proceed to open an Olive account.
Please note that points will not be granted unless the deposit balance in your Olive account is over 10,000 yen by the end of the following month after opening the Olive account.
SF00149-0056635
＼Copy Paste the refferal Code and proceed to Step 1／
＼Create an account after Applying for the Campaign／
【How to register using Olive’s referral code?】
Step 1. ：Apply for the Campaign
First, Enter the referral code on the official entry page
SF00149-0056635
You’ll need to enter your name, email address, referral code, and other details into the entry form.
Since the referral code is long, consisting of 15 characters including hyphens, make sure to copy and paste it to avoid input errors.”
1分でエントリー完了です！続いてOliveアカウントを開設しましょう！
Step 2.：Create Olive Account
After applying for the campaign, Create an Olive account
From SMBC official website go through「Create Olive Account」、and Download the SMBC App
1.SMBC ID登録
Enter your email address and password to register for an SMBC ID.
2.Switch to [Olive Account]
From SMBC APP top page , please click on 「Switch to Olive Account」。
3.Choose your Account Rank
Choose your preferred rank! I chose Gold for myself!
And I’ve selected the card color as Black Gold.
4.Enter personal information.
After selecting the card type and whether or not you have MyPay SRI, input your personal information.
5.Set up your Password
After setting up the PIN for Flexible Pay, your Olive account switch is complete!
■【When is the referral bonus granted?】
- “For the person referring: The referral bonus is granted at the end of the month following the month in which the referred person signed up for an Olive account.
- For the person referred: The referral bonus is granted at the end of the second month following the month in which they signed up for an Olive account.”
The maximum number of referrals is 100 people, but even for the 101st person and beyond, the referred individuals will still receive the referral bonus. However, for the referrer, there will be no bonus for referrals beyond the 100th person.
■【Conclusion】
If you’re already a Sumitomo Mitsui user, Olive card is something you definitely should consider! The benefits are too good to miss out on, so applying for Olive is a must.
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