All the FNB eBucks changes

FNB has U-turned on its original plan to cut the free Slow Lounge entries offered to qualifying Premier customers annually under its popular eBucks rewards programme.

The changes originally meant bundled entries (depending on a customers’ eBucks level) would be dropped entirely for Premier customers, with only a possible 12 bonus entries able to be earned when booking flights via eBucks Travel.

In an abrupt reversal on Tuesday, it announced that “FNB confirms its decision to keep SLOW lounge benefits for FNB Premier customers unchanged beyond 1 July 2021″.

“This means that FNB Premier customers will continue to enjoy up to 8 SLOW lounge visits per annum plus 12* additional complimentary visits when booking flights via eBucks Travel.”

It will, however, increase the number of bonus Slow Lounge entries that can be unlocked for Private Clients and Private Wealth accounts. A Private Clients customer on eBucks Level 5 could reach up to 38 entries a year from July (from the 34 now), while Private Wealth customer could reach a total of up to 60 entries (from the 48 now).

Wider net

It has also extended the Slow Lounge benefit to Aspire (formerly Gold) customers for the first time. These clients can unlock up to two bonus entries between July 2021 and June 2022 when booking their flights through eBucks Travel.

This is a bold move and is part of its renewed push into the middle-income market with the launch of a new account to replace the tired Gold one.

This puts it squarely against Capitec for many of these middle-income customers.

Read: FNB increases private banking fees, launches new mid-market account

	Complimentary entries per annum		Bonus entries unlocked when booking a flight on eBucks Travel
	From 1 July 2020	From 1 July 2021	From 1 July 2020	From 1 July 2021
Aspire	–	–	–	2
Premier	Up to 8, depending on eBucks level	Up to 8, depending on eBucks level	12	12
Private Clients	Up to 20, depending on eBucks level	Up to 20, depending on eBucks level	12	18
Private Wealth	Up to 36, depending on eBucks level	Up to 36, depending on eBucks level	12	24

The four other major changes to the eBucks programme for Private Clients, FNB Private Wealth and RMB Private Bank are:

• Customers can now earn up to 15% back in eBucks at iStore, which is now a partner in the same way as Checkers/Shoprite and Clicks. The amount on which customers earn eBucks is limited to a total rand spend per year (1 July to 30 June) of R17 500 for Premier, R22 500 for Private Clients and R30 000 for Private Wealth. A Premier customer on eBucks Level 5, for example, will earn R2 625 back in eBucks if they spend more than R17 500 from July. The limits on the amount on which eBucks is earned when swiping at Checkers/Shoprite and Clicks are unchanged.
• Customer can now choose to pay their monthly account fees with eBucks using the FNB App.
• Free data, voice minutes and SMSs on FNB Connect will only be for customers who join before 1 July 2021. If you join after this date, you will receive an allocation of data, voice minutes and SMSs for the first three months only.
• Customers who have standalone FNB credit cards on these accounts who meet the qualifying criteria will earn eBucks at 50% of the normal rate.

Engen fuel rewards, where up to R8 per litre can be earned, remain unchanged on Premier, Private Clients and Private Wealth accounts.

It has overhauled the way in which middle-market customers earn eBucks. Aspire account holders who qualify for eBucks (minimum deposit and three payments/purchases on the app) will earn up to R150 per month in four categories:

• Shopping at Shoprite/Checkers/USave
• Shopping at Clicks
• Fuel purchases at Engen
• Bus tickets with Intercape

When you spend at one of the partners in a calendar month	FNB Aspire Current Account (or standalone Aspire Credit Card)	FNB Aspire Current or Fusion Account and minimum savings balance or credit product
R500	R25 in eBucks	R25 in eBucks
R1000	(another) R25 in eBucks	(another) R25 in eBucks
R2000	n/a	(another) R50 in eBucks
R3000	n/a	(another) R50 in eBucks
Total potential earn per month	R50 in eBucks	R150 in eBucks

Fuel purchases at Engen will earn Aspire customers a flat rate of 60c per litre until they reach each reward amount (eg. R25 in eBucks) and up to the reward limit (R150 in eBucks). If they have a vehicle financed through Wesbank and fill up exclusively at Engen, this is doubled up at the end of the quarter (to R1.20 per litre).

FNB Easy Smart customers can earn eBucks in a similar way to Aspire customers (they also need a minimum savings balance or credit product), but limited to up to R50 a month for spend on:

• Shopping at Shoprite/Checkers/USave
• Shopping at Clicks
• Bus tickets with Intercape

Qualifying entry-level Easy PAYU customers will get a coupon for basic items when spending R150 a week at Shoprite, USave or Checkers. With the coupon, they will be pay R5 instead of R15 for one of the selected items. This equates to R40 in value a month.