Did you make a panic transfer from Bilt last week? They’re willing to reverse it.

Last week, many Bilt Rewards members – myself included – received an email out of the blue advising that our accounts were being shut down.

Upon receiving this email some people leapt into action, immediately transferring all their Bilt points out to one or more transfer partners to ensure their points wouldn’t be confiscated. Unfortunately for them, shortly afterwards Bilt sent an “oopsie” email, advising that their accounts weren’t being shut down after all and they’d get 250 bonus points for the inconvenience.

That was small comfort to the people who’d transferred all their points out already at sub-optimum ratios, but thankfully there’s a fix – Bilt is willing to reverse the transfers.

It’s good to see Bilt doing the right thing here because the panic transfers were caused by their mistake. I imagine many people were planning on holding on to their Bilt Rewards points to take advantage of a (hopefully) generous transfer bonus in the future, so transferring points out on a 1:1 basis would be disappointing compared to their previously anticipated 1:1.75-2.5 transfer ratio with a 75%-150% transfer bonus.

Tim mentioned in this past week’s Saturday Selection that Bilt was willing to reverse the transfers, but we wanted to publish a separate post about that policy in case you missed that piece of news. Per a Bilt spokesperson:

We are reversing all panic transfers for members who write into support and request that. This applies only to transfers completed Wednesday afternoon during the time the original, incorrect email was delivered.

If members go to their account page in the Bilt app and scroll down to the bottom, they’ll see the support section where they can submit their request.

Our apologies again for the incorrect email.

As you can see, you can only reverse transfers that occurred last Wednesday after the erroneous email was issued.

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