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Wednesday, March 27, 2024

FNB simplifies eBucks Rewards for its customers in annual review

FNB today announced its annual review of eBucks earn rules with an emphasis on simplification.

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Launched in 2000, eBucks Rewards remains a pioneering rewards programme and has paid out over R4bn to its members since inception. FNB recognises eBucks Rewards as an integral part of the bank’s success in the market. Through the programme, the bank is able to offer customers additional value for banking efficiently such as swiping cards for purchases and using the bank’s digital channels, for holding multiple FNB products and also for supporting eBucks partners.

This year, FNB has scrapped its requirement for marketing consent as a qualifying criteria to earn eBucks, but members can now collect additional reward level points for providing marketing consent, which could help boost them to the next rewards level.

The new earn rules were applicable from 1 July 2014 for FNB Smart and Wealth customers, and will change from 1 September 2014 for FNB Business accounts and 1 October 2014 for FNB Gold, Platinum and One Account holders.

The rewards program remains aimed at encouraging FNB clients to adjust their banking behaviour in order to maximise their rewards and benefits.

Says James Fowle, CEO, FNB Premium and Business Core Banking: “We’re always working towards a positive experience for our customers. This is especially true for our qualifying Smart Account holders, as they will earn a flat R5 back in airtime for every R100 spent with Shoprite & Checkers, a further R5 back in airtime for every R100 spent on prepaid airtime through FNB’s electronic channels and an additional R5 back in airtime per month for transacting through one of our electronic channels (Cellphone Banking, Online and App) as opposed to transacting at a branch and R5 per month for withdrawing cash at a till point.”

“Increased eBucks earn can be anticipated for most Gold and Platinum customers holding both a qualifying Cheque and Credit Card of the same colour. Overall we have simplified the reward level process as we now look at a customer’s holistic product holding and calculate the reward level at a customer level, not separately for each product,” continues Fowle.

Going forward, members’ rewards levels will be calculated monthly, as opposed to using a rolling 12 months approach – this will ensure that clients benefit from increased rewards as soon as they take up new products or transact more efficiently.

“Some tips I could give customers who want to earn more eBucks, would be to always transact using FNB’s electronic channels, swipe an FNB card (especially an FNB Credit Card) instead of drawing cash, and to align the colours of their cheque and credit cards. For example, a customer with a platinum cheque card can earn more eBucks if they also have a platinum credit card” concludes Fowle.

As the bank’s eBucks rewards programme enters its 15th year, the programme remains one of the most successful, sustainable and enduring rewards programmes in the country.

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