CIB Bank free payment ring offer requires new account and spending

CIB Bank free payment ring vouchers are available to qualifying new customers in Hungary under a campaign with Visa that runs from July 15 to September 30, 2026. The offer is conditional rather than a benefit for all account holders: eligible customers can receive a code for one black RingPay ring after opening a qualifying account, obtaining a Visa debit card and meeting other requirements set out by the bank.

CIB Bank, a member of the Intesa Sanpaolo Group, says the promotion is available while stocks last. The formal rules state that qualifying customers will receive an electronic QR code by November 16, 2026, redeemable through RingPay’s designated online channel. The code cannot be exchanged for cash, transferred or resold.

Who qualifies for the CIB Bank free payment ring?

According to CIB Bank’s promotion rules, participants must be adult consumers who did not hold a CIB retail forint account when the campaign began or before opening the qualifying account.

• Register on the promotion website before opening the account, or no later than the day of account opening.
• Open a new CIB ECO, CIB ECO Plusz or CIB ECO ForYou account during the campaign period.
• Request a CIB Visa Inspire Electronic, Embossed or Platinum debit card.
• Give consent to marketing and non-postal contact within one month of opening the account.
• Make at least HUF 30,000 in qualifying purchases within one month of account opening.

The spending threshold may be met through one or more purchases made with the primary card or its digitised version, either at a merchant point of sale or online. The rules exclude cash withdrawals, gambling and betting transactions, interest and fee charges.

The bank’s campaign page says recipients use the QR code to choose a ring size and provide their details. Once the ring arrives, they download the RingPay app, pair the device and add card details as part of activation.

How does the RingPay payment ring work?

CIB says the RingPay device can be linked to an eligible CIB Visa card and used wherever Visa contactless payments are accepted. The bank says the ring is waterproof and does not need a battery or an internet connection for use. Visa’s tokenisation technology replaces card details with a unique digital identifier during transactions, according to CIB and Visa.

CIB says the same transaction limits apply to payments made with the ring as apply to the linked card. A PIN must be entered at the terminal where a card transaction would require one. If the ring is lost or stolen, the bank says customers should deactivate it through the RingPay app or arrange a block through CIB.

What happens if the account is closed?

The ring has a stated value of HUF 31,900. CIB’s rules say the bank may debit that amount from the customer’s CIB retail forint account if the qualifying account is closed, or changed because the customer moves to a different account, within one year of the account agreement.

CIB and Visa said their July Ipsos Instant survey of 1,050 Hungarian internet users aged 18 to 65 found that more than half of people aged 18 to 35 would try a payment ring. The survey was commissioned by the two companies.

This story draws on original reporting from Finextra Research.