Big eBucks changes coming – with good news for motorists
FNB’s eBucks is getting major changes, with the programme making it easier to claim fuel rewards for its private clients.
eBucks is set to launch a host of new features on 1 August 2023 – a slight delay from the usual start date in July.
Since its inception, eBucks has paid out over R19.5 billion, with it expected to break the R20 billion mark by August.
Moreover, FNB also paid out R3.8 billion for eBucks over the last 24 months and has achieved an average spend-to-earn ratio of 95% over the last five years.
Members have also used R92 million to pay their bank fees since its inception to March 2023.
eBucks currently has over 3 million people actively using the system, with eBucks CEO Johan Moolman telling BusinessTech that the programme attracts 80,000 customers per month.
Although there are multiple changes to the system in 2023, the most interesting is the new fuel rewards for private banking customers.
South Africans have been battling high fuel prices in recent times, with FNB’s own senior economist Koketso Mano warning that the price of fuel will likely increase.
Previously, eBucks fuel rewards were limited to Engen, and customers who went to another petrol station were no longer entitled to earn a potential R8 per litre back on fuel from Engen.
However, customers will no longer be penalised if they go to a non-Engen-affiliated petrol station.
Moreover, customers were previously only able to receive the fuel benefit quarterly.
However, qualifying customers will now earn up to R8 back per litre in eBucks monthly when paying with their virtual card.
Customers will also receive up to R2 per litre if they have FNB Car Insurance and an additional R2 per litre if their vehicles are financed with Wesbank.
Moolman said that a distinctive characteristic of eBucks compared to other incentive programmes is that it is tailored to individual accounts. This means that the rewards across all of FNB’s accounts differ.
Below is a breakdown of the rewards offered across all of FNB’s accounts:
Easy PayU and Smart
The most significant change for the Easy PayU account is the increase from the R15 shopping voucher to R20 voucher.
Moreover, whereas the previous R15 voucher could only be used for staple goods, the new R20 can be used for store items.
Customers will also get 100MB of data, 35 voice minutes and 20 SMSs if they have an FNB Connect Sim.
For Easy Smart, customers will be entitled to a potential R500 Checkers/Shoprite voucher per annum.
To earn the voucher, customers will have to spend R1,000 on their Easy Debit Card and do one of the following each month:
- Grow their savings account by R100 every month
- Maintain a Savings Account Balance of at least R6,000 per month
- Have a Credit Status in light or dark Green and engage with any NAV Money Tool Monthly
- Have an active FNB Connect Sim
- Have Cash@Till and Cardless Cash Withdrawals which are greater than your Card Present ATM Withdrawals
Should a customer not follow these steps for one or two months of the year, they will still be entitled to a R300 voucher at the participating retailers.
Easy Aspire
Although the reward is not as high as it is for private clients, FNB Aspire customers can still earn R150 back in eBucks on fuel at Engen. Plus an additional R150 should they meet certain additional requirements.
Customers will also be entitled to a R1,500 Superbalist reward per annum if they spend R4,000 on the FNB Aspire Debit Card every month and do one of the following:
- Grow their savings account by R500 every month
- Maintain a Savings Account Balance of at least R16,500 per month
- Have a Credit Status in light or dark Green and engage with any NAV Money Tool monthly
- Have an active FNB Connect Sim
- Have Cash@Till and Cardless Cash Withdrawals which are greater than your Card Present ATM Withdrawals
Should a customer only follow the set criteria for 10 or 11 months, they will still receive a R1,000 Superbalist voucher.
FNB Private Banking
Besides the aforementioned change to fuel rewards, one of the biggest shifts for private banking is in the virtual card space.
Moolman said that roughly 80% of FNB Private Clients have virtual cards, with the programme limiting certain benefits to those who do not use one.
Although customers can unlock certain eBucks benefits on their physical cards, 80% of their spending will have to be on their virtual cards to unlock rewards after the first spend amount.
Moreover, private clients will be able to get 25% off Lift Premium.
There will also be family benefits for Wimpy and Kauai and annual travel discounts.
Moreover, the reward level point thresholds are being significantly reduced for private clients.
For instance, the point threshold for reward level 5 for Premier Clients has been decreased from 14,000+ to 11,000+, allowing more customers to qualify for improved rewards.
Summary of changes
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