FNB has announced “simplified” eBucks rules that it claims will help customers get more value from rewards – even using eBucks to pay for licence renewals via FNB’s digital channels.
The new eBucks rules, to take effect on 1 August, should see FNB and RMB Private Bank customers getting more value from eBucks rewards due to simplified earn rules and benefits, the bank said.
eBucks can now be used to pay for more products and services, including groceries, fuel and travel.
eBucks Rewards chief operating officer Johan Moolman said in a statement: “We are updating some of our criteria to align better with the current economic context and evolving customer needs.”
This includes moving the eBucks double-up earn on fuel from quarterly to monthly, increasing grocery benefits, introducing more family banking rewards and enhancing travel benefits.
“The changes are also designed to enable better access to our rewards, especially for our entry-level and middle-income customers,” Moolman said.
This includes the use of digital channels and virtual cards for safety and convenience, and encourages the use of more cost-effective ways to access cash. “We’re also promoting financial education through digital tools on nav Money via our FNB App to help customers manage their credit, savings and investments, insurance and transactional activities,” he said.
Other changes coming to eBucks include:
- Grocery vouchers: The monthly voucher for FNB Easy PayU increases to R20 to supplement grocery purchases and any other necessities at Checkers, Shoprite and Usave outlets, removing the restriction on products and customers having to pay R5 to redeem the voucher.
- New travel discounts: FNB Easy Smart and FNB Aspire customers can now qualify for discounts of R50 per bus ticket for each qualifying traveller when booking via QuickBus on the FNB app. Additionally, FNB Aspire customers can now get discounts of R100/ticket for each qualifying traveller for domestic bookings made via eBucks travel on the FNB app, as a new benefit. Customers that meet the requirements in August will qualify for these travel discounts in September.
- FNB Premier to FNB Private Wealth customers get up to 40% discounts for each qualifying traveller for bookings made via QuickBus on the FNB app. These clients will continue to get up to 40% discounts across flights, car hire, eBucks shop and vouchers, and Slow Lounge visits.
- FNB Connect: Along with other customers who have been getting free monthly FNB Connect benefits for their respective accounts, FNB Easy PayU customers will start receiving free 100MB of data, 35 voice minutes and 35 SMSes per month on their active FNB Connect Sim.
- Fuel rewards: An additional fuel benefit for qualifying customers will be awarded monthly instead of quarterly, with qualifying customers earning up to R8/l back in eBucks monthly when paying with their virtual card. Customers will receive up to R2/l for having FNB insurance on their vehicles and an additional R2/l if they have vehicles financed with WesBank.
- New Lift Premium partner benefit: Irrespective of their eBucks level, customers will get a 25% discount when booking a flight with Lift Premium using eBucks Travel on the FNB or the RMB Private Bank apps – and a complimentary Slow Lounge visit. Customers will now also find upfront discounted prices when searching for flights via the FNB or RMB Private Bank apps.
- Customers will be able to use their eBucks to pay for licence renewals using nav Car on the FNB app.
- Customers with a family banking profile will get an additional monthly Kauai smoothie and an extra quarterly Wimpy burger or meal for the kids. This is to encourage customers to maximise the benefits of banking as a family.
- Customers can earn up to 40% back in eBucks on their Netflix and Spotify subscriptions when their FNB virtual card is loaded for payment.
“Our rewards have become an integral part of customers’ monthly budgets as they supplement household expenses. With an average earn-to-spend ratio of 95%, millions of our customers continue to rely on our programme to alleviate financial constraints,” Moolman said. – © 2023 NewsCentral Media