CAPE TOWN -FNB announced that it has remodeled its eBucks rewards programme which includes earning up to R4 per litre at Engen petrol stations while the amount of eBucks customers can earn has been reduced.
According to CEO of eBucks Rewards, Johan Moolman, the rules of the eBucks programme is updated on an annual basis to keep the programme relevant and sustainable.
Moolman added that FNB ensures that its customers have time to adjust their banking behaviour by communicating the changes a month prior to the changes which is set to come into effect on July 1.
Take a look at the 5 changes to eBucks rewards:
• eBucks members can now earn up to R4 back in eBucks on every litre of fuel they buy at Engen petrol stations. Members should, however, note that fuel earn is now exclusive to Engen and they will no longer earn fuel rewards for fuel purchased at other fuel stations.
• Qualifying FNB Easy Account customers will earn R15 back in airtime across all networks when they spend at least R1 on their Easy Debit Card at Checkers & Shoprite a month (Bundled Pricing Option).
• Gold Account members now earn eBucks on cheque card purchases.
• The amount of points required per reward level have been reduced for Premier, Private Clients, Private Wealth and RMB Private bank accounts.
• FNB Offers has been added to the programme to instantly reward customers for reaching banking milestones relevant to their banking profile which now adds to the surprise and delight factor.
Although FNB adding changes to its eBucks structure, Moolman reminds us that the programme has paid out over R10 billion since its inception in 2000.
Despite these changes, FNB has capped eBucks rewards in some cases where customers can only earn a certain amount of eBucks per month. Notably, these caps have been reduced for the 2018/2019 year.
Moolman said that while certain rewards have been capped, the eBucks Rewards programme is specifically tailored to certain segments such as the Gold, Premier, Private Clients and Private Wealth.
“The eBucks Rewards programme is specifically tailored to FNB’s customer sub-segments, namely Gold, Premier, Private Clients and Private Wealth, to allow us to set programme rules and rewards that are relevant to each segment. As a result, we have optimised our spend thresholds to be in line with the average spend in each sub-segment. This will further encourage a balanced use of transactional products without compromising the real value that members derive from the programme”, said Moolman.
Moolman added that eBucks members can still maximise on their rewards whether they are using a debit or credit card to make purchases. He added that FNB will continually monitor and optimise the programme in order to make it sustainable while providing real value to their customers.
Meanwhile, following the changes to the eBucks structure, customers have taken to Twitter and displayed outrage with the new structure, claiming that FNB takes away eBucks rewards every year and that it is reason to consider migrating to a different service provider.
Take a look at what some Twitter users had to say:
Every year fnb an ebucks are reducing ways we can earn ebucks, 1st it was the 15% ebucks pre-paid electricity we could earn and now it's the fuel, you will only earn at engen, what's next? You take away 15% ebucks we earn at checkers? FNB - How can we screw you
@Rbjacobs hi read the new rules for ebucks. Unhappy, reduction in fuel, checkers & credit card spend, Will be earning very little ebucks maybe time to switch to another bank. I'm not the only one. lot's of fnb clients are unhappy with the new rules as well
With many new banks coming on the horizon, you’d expect the incumbents to be scrambling to retain customers through increased value. #FNB wants to go the other way… I’m looking at you, ebucks program.
I feel like FNB without @MichaelJordaan is like Apple without Steve Jobs.
- BUSINESS REPORT ONLINE