FNB's has announced new eBucks Rewards earn rules will make it easier for customers to earn more eBucks. 
Photo: File
FNB's has announced new eBucks Rewards earn rules will make it easier for customers to earn more eBucks. Photo: File

FNB changes eBucks rules to help customers earn more points

By BR Correspondent Time of article published Jun 2, 2020

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DURBAN - FNB monthly account fees on bank accounts for individuals will be unchanged or reduced while new eBucks Rewards earn rules will make it easier for customers to earn more eBucks. 

FNB illustrated the behavioural impact of eBucks Rewards by revealing that the majority (56 percent) of its customers are now spending 100 percent of their pharmacy spend at Clicks since the retailer became an eBucks partner in April 2020. Previously this behaviour was prevalent among only 27 percent of customers.

FNB Retail Chief Executive, Raj Makanjee said, "We are cognisant that customers are facing financial pressure, therefore unchanged monthly account fees and several free transactions will provide relief to many. The financial impact of Covid-19 has also highlighted some gaps in the way some customers manage their money so we will be giving customers even more value to improve their banking behaviour. The work we have done over the years allows us to extend the benefits of unchanged fees and enhance rewards to help customers make their money go even further in this uncertain time". 

From July 1st 2020, FNB customers can expect the following change:

Monthly account fees

1. Zero increases on monthly account fees for Easy, Gold, Premier, Private Clients, Private Wealth and RMB Private Bank

2. Gold Fusion monthly account fee will be reduced from R109 to R89 and customers will get up to 30 days interest free on credit card purchases

3. Fusion Gold customers holding a Personal Loan and Fusion Premier customers holding a Personal Loan and a Revolving Facility can bank for free by maximising new rebates on offer

Cash withdrawals, send money and pre-paid purchases

1. [email protected] withdrawals will be free for all individual customers

2. In addition to Gold, Premier; Private Clients, Private Wealth and RMB Private Bank account holders, Easy Smart customers will now also benefit from 2 free send money (eWallet) transactions per month via the FNB App and FNB.mobi;

3. Airtime and data purchases via the FNB App, Online and FNB.mobi will be free for all individual customers.

eBucks earn rule changes

1. To help with maximising on rewards during this uncertain time, eBucks level 1 will start at zero points and customers will get new once-off booster points to help them move up reward levels quicker within a month

2. Customers could earn up to 40 percent back in eBucks on Netflix and Spotify monthly subscriptions when they use family banking or qualifying spousal accounts

3. Customers could earn additional eBucks through Smart Spend on their qualifying FNB and RMB Private Bank cards or when using FNB Pay

4. Customers who hold FNB investment accounts could bank for free by earning up to 100 percent of their monthly Fusion or Cheque account fees back in eBucks, depending on their reward level and minimum balance

5. Customers who take up an FNB Connect SIM after 1 July 2020 will get up to 1GB, 30 voice minutes and 30 SMS for the first 3 months, thereafter, the free

6. FNB Connect allocation will depend on their eBucks Reward level.

BUSINESS REPORT ONLINE

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