As the first day of lockdown level three dawns and many South Africans enjoy the ability to purchase alcohol and return to work, FNB has announced account fees for individuals will remain mostly unchanged.
We say mostly because while Easy, Gold, Premier, Private Clients, Private Wealth and RMB Private Bank accounts will not have monthly fees increased, with one account actually getting a fee reduction.
That account is the Gold Fusion account which will have its monthly account fee reduced from R109 to R89. Customers will also get 30 days free on credit card purchases.
“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,” explains FNB Retail chief executive officer, Raj Makanjee.
FNB has also announced a few freebies for Gold, Premier, Private Clients, Private Wealth and RMB Private Bank account holders.
Cash@Till withdrawals are free for all of the accounts listed above. The above accounts as well as Easy Smart accounts will also benefits from two free eWallet send money transactions per month via the FNB App or FNB.mobi.
In addition, all airtime and data purchases via the FNB App, FNB.mobi and FNB’s website will be free.
Changes to eBucks earn
There have also been a few changes to how FNB customers can earn eBucks. The changes are all being implemented to assist customers with earning more eBucks.
FNB outlined the changes below.
- 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;
- Customers could earn up to 40% back in eBucks on Netflix and Spotify monthly subscriptions when they use family banking or qualifying spousal accounts;
- Customers could earn additional eBucks through Smart Spend on their qualifying FNB and RMB Private Bank cards or when using FNB Pay;
- Customers who hold FNB investment accounts could bank for free by earning up to 100% of their monthly Fusion or Cheque account fees back in eBucks, depending on their reward level and minimum balance;
- Customers who take up an FNB Connect SIM after 1st July 2020 will get up to 1GB, 30 voice minutes and 30 SMS for the first 3 months, thereafter, the free FNB Connect allocation will depend on their eBucks Reward level.
All of these changes take effect from 1st July 2020.
“We pride ourselves on putting customers at the centre of our banking solutions and the changes we are implementing demonstrate our commitment to value-based banking, especially during these tough economic times. Our solutions also allow customers to get even more value from banking or managing their money as a family. Overall, the changes we’re making will go a long way to building main-bank relationships with our customers,” concluded Makanjee.