Five ways to get the most out of eBucks

The FNB eBucks rewards program is the largest and most popular among those offered by banks in the country. Since its founding in 2000, it has paid out more than 15 billion RUS awards, with more than R3 billion paid in the last two years.

It is a program that may seem complicated, but it is aimed at changing customer behavior. By changing behavior and transactions in certain ways, as well as by holding certain products of the bank, clients earn points.

They then determine what level of reward you are in (from one to five) for the next month. This level of reward, in turn, determines your earnings rate. To earn eBucks, customers must qualify by having a regular deposit in their account (this ranges from R2000 for an initial Easy account to R60000 for Private Wealth customers).

Read: The FNB is increasing fees for private banking, launching a new mid-market account

A few years ago, the bank introduced the possibility to qualify by having average deposits of a certain amount over 12 months to take care of entrepreneurs whose cash flow may be lump sum. Account holders must have a good reputation.

Here are some tips for customers on how to get the most out of eBucks. It is quite possible – and quite simple – to get back at least your monthly eBucks account fee each month.

At the end of each quarter, or in months with above-average spending (think November / December), you could easily repay double or triple that amount. For Premier and Private Clients, a refund of more than R1000 per month is possible.

Do simple things to get to the levels quickly

In July, FNB added several new ways to earn points that allow users to progress to higher levels of reward. Three extremely simple actions on Premier and Private Client accounts can bring you 2000 points per month.

From the third level upwards, this could probably mean the difference between one level and another…

Read: All FNB eBucks are changing

Visit “Track My Rewards” in the eBucks menu on the FNB app once a month, you will earn 500 points.

You can earn another 500 points by visiting nav »Home in the app once a quarter to” manage your property or use one of the available services “.

It is clear that he wants to encourage customers to use their “Smart Budget” tool under the headline “Money” on the application. By setting up at least 2 categories in your budget and accessing this tool, you will earn 1000 points.

Make simple changes in behavior

The whole purpose of eBucks is to encourage customers to change their behavior. Due to that, the ways of earning change annually (from July 1). Over time, the bank has been very successful in switching its account holders to its digital channels; eBucks was the key to this.

There are now strong incentives to conduct transactions through the FNB application rather than through other bank channels. The app is more secure than online banking, and this ensures that the bank reduces the risk and cost of fraud.

It can then pass on part of this value back to customers. By performing a certain number of transactions in the application each month (6 for Premier, 8 for Private Clients, 10 for Private Wealth) you will earn 2000 points.

Read: FNB excludes intermediaries with the new car market

Following the launch of virtual card functionality in 2020 and the launch of Apple Pay in August, it now encourages customers to use their virtual cards for FNB Pay (scan for payment or partner wallets such as Samsung Pay and Apple Pay).

By performing a certain number of these transactions per month (using your virtual card) you will earn 1000 points. Again, there is a benefit for the bank that switches customers to these types of transactions (which are more secure than using a physical card).

Authorizing a monthly automatic payment (again, in the interest of the bank) for your credit card that automatically pays the minimum amount due will earn 1000 points (If you make this payment or settle the card balance before this date, the automatic payment is obviously not made).

For those over 60, buying at Clicks on Wednesday will earn you twice the amount (on the fifth level, this equals 30%!). Again, a simple change in behavior.

Make sure you reach the fifth level of the reward

The difference in earnings rates between the four and fifth levels is material. CreditSpend with certain partners, including Checkers / Shoprite, Clicks and iStore, will refund you 7.5% on the fourth level and 15% on the fifth level (within monthly limits).

This means that you will earn twice as much if you are at level five (compared to level four). The same is true for fuel consumption in Engen where the earnings rate of R2 per liter is at level four and R4 per liter at level five.

As for fuel, the difference between levels three and four is even sharper (75c compared to R2 per liter, respectively).

Switch fuel consumption to Engen

With a quarterly “Double Fuel Gains” award, customers have the opportunity to earn additional eBucks on fuel consumption. To qualify, customers must have an active vehicle financing agreement with Wesbank (or Toyota Financial Services or Volkswagen Financial Services), have their funded vehicle loaded in nav »Car (under‘ My Garage ’) and have 100% of their fuel consumption on Engen.

At the end of each quarter, fuel prizes will be doubled and awarded.

For example, a qualifying customer on eBucks rewards level five who unlocks this benefit will earn R4 per liter on fuel consumption each month and an additional R4 per liter paid at the end of each quarter.

This suddenly becomes material, even in a world where working from home is more common.

Using the simplified 100 liters of fuel you consume in a month, the normal fuel rewards for a fifth-level customer would be equal to R400 in eBucks. A double reward would amount to an additional Rs 400 (i.e. Rs 1,200 paid at the end of the quarter for the previous three months).

Again, being on the fifth level of the award is very useful. The 100 liters of fuel you consume per month (around R6000 for three months) would amount to a total of 2400 R2400 returns for the fifth level customer in the whole quarter, if it qualifies for doubling. The fourth level client will only earn a total of R1200 back.

Take advantage of travel rewards

Depending on your reward level, you can unlock discounts of up to 40% on flights. Discounts are available for various local airlines on bookings made through eBucks Travel (online or through the app). You no longer have to pay the minimum amount in eBucks to get a discount.

Reservations made via eBucks Travel on the FNB app (ie not online) unlock two additional benefits: up to 40% discount on Avis rent-a-car (depending on the prize level) and a bonus visit to the Slow Lounge for those flights (seven days before / after).

Read: The FNB increases travel rewards as rivals fall

Bonus visits can be unlocked for the family if all members have qualified FNB accounts (this includes children).

In addition to bonus visits, it is important to note that the number of free Slow Lounge visits you receive each year depends on your reward level.

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