3 big changes FNB customers can expect in the next few months – including eBucks

Financial services group FNB says that an additional 525,000 customers will be eligible to earn eBucks when its annual earn rules and account pricing comes into effect from 1 July 2022.

While the earn rules will remain largely unchanged from July, the bank said that far more customers will be able to earn and spend eBucks going forward.

From July, app transactions required from FNB Aspire customers have been reduced from three to just once a month, while FNB Easy PAYU and FNB Easy Smart Option customers will qualify for eBucks simply by using ‘cash at till’, which is free. The group added that sufficient deposits and digital usage will no longer be required in private banking.

The lender has also dropped the number of points customers need to qualify for each eBucks level as follows:

Other eBucks earning changes include:

• FNB Premier, Private and Private Wealth clients can collect additional points for having a minimum monthly deposit in an FNB account or doing at least 10 debit transactions per month on an FNB Account.
• Points for streaming services has changed – Use only your virtual card to collect points for streaming or online platforms. This includes 1,500 points for two or three streaming platforms, or 2,000 points for upwards of four streaming services.
• Smart Spend allocations now start at level two of eBucks.

ATM charges

FNB said it will waive additional charges for other bank’s ATMs during peak periods. The bank said that this decision is being made to accommodate busy paydays and those who collect grants.

Currently, this applies on the 1st, the 3rd and the 25th day of every month – although this could change at a later date.

The bank added that customers will now only pay 50% of the FNB ATM cash withdrawal fee when they withdraw through cardless functionality on the FNB App.

Private advisors 

FNB is also transitioning its private bankers into private advisors. Private advisors will be equipped and accredited to provide integrated advice to help clients save and invest more while protecting their assets.

While private bankers have historically provided investment advice to wealthier clients, FNB said that these advisors will offer these services as well as more general advice on saving money. While the bank’s wealthier clients are less likely to struggle to make it until the end of the month, FNB said that it was clear that these clients still need general savings and costing advice.

This can include something as granular as recommending a different store where products are cheaper and helping save on monthly grocery bills, it said.

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