Air Miles to resume in-store cash miles redemptions but with lower limits

The Air Miles reward program is lowering the cap on in-store cash miles redemptions to $50 per day as it resumes the program Wednesday.

The redemptions were halted after Air Miles discovered nearly two weeks ago that some stolen cash miles had been used to make purchases.

The previous daily limit for in-store redemptions was $750, but Air Miles says most of its collectors use the cash miles in small amounts.

Air Miles said it chose to implement the $50 cap to reduce the risk of fraud while ensuring most of its collectors can still claim their miles for discounts.

The loyalty program says Air Miles customers will be able to redeem up to 475 cash miles worth $50 per day, starting Wednesday as of 5 a.m. ET.

But Air Miles won't allow the loyalty points to be used to purchase gift cards, prepaid credit cards or other similar products.