FNB eBucks change backlash

Hanno Labuschagne

Hanno Labuschagne

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FNB eBucks change backlash

FNB's decision to amend eBucks earning rules a mere four months after its annual rule changes has left customers fuming, with many threatening to leave the bank.

The bank recently announced an unusual change in eBucks levelling criteria that will take effect in November 2025, after already adjusting the requirements in July 2025.
 
Banks can't afford to pay salaries, pay tax, pay crime fees, pay exec bonuses and make a profit while giving all these perks. At the end of the day there are a handful of banks in SA, and the typical person has to bank with at least one of them. Those who leave FNB will find nothing better or worse next door.
 
Mirai said:
Banks can't afford to pay salaries, pay tax, pay crime fees, pay exec bonuses and make a profit while giving all these perks. At the end of the day there are a handful of banks in SA, and the typical person has to bank with at least one of them. Those who leave FNB will find nothing better or worse next door.
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Beg to differ on the worse....
 
"When asked about how the levelling changes would reduce the eBucks earnings of customers who are using the 24-month contract benefit, FNB said the discount was market-leading and offeresignificant value to customers."

You may want to check the spelling in this paragraph
 
"behavioral changes", now there's a term that never fails to make the hair on my neck stand up, If I actually paid for eBucks I would cancel it, as it is I will simply ignore it and get on with my life on my terms.
 
Goosfrabba said:
"When asked about how the levelling changes would reduce the eBucks earnings of customers who are using the 24-month contract benefit, FNB said the discount was market-leading and offeresignificant value to customers."

You may want to check the spelling in this paragraph
Click to expand...
Thanks, fixed it.
 
Leveling. They're leveraging (oh my word) the language of those who grew up gaming, to sell them this. Level up. You get XP from this and this and then you level up and you unlock this and that.
 
What annoys me is how they lie in their spin. I received a notification saying "there will be changes in how you collect points in the Digital Banking and My Cards categories, and more ways to collect points in the Insurance category". There are not "more ways" to collect points. The only way is to buy more insurance. They say "there will be changes" instead of saying that there is a reduction.
This is deliberately misleading. Customers need to study the fine print to understand. Or read My Broadband who has done the work for us :) thanks
 
43,000 points: sure. But some of those criteria are behind walls not everyone can climb:
  • Retirees only: 2500
  • Islamic only: 1000
  • R15m investment with a portfolio manager: 5000
  • R500k Channel islands fixed deposit: 4500
  • R500k Channel islands current/call/32 day account: 3500
  • Families only: 2000-3000
 
the last straw. sorry FNB -> plain and simple maths
higher bank fee's minus ebucks earnings made you just acceptable (i overlooked bad support over the past few years)
removing spending and earning-partners , and not making it "impossible" to get to a earning level is just over the top.

why do i have to spend hours of my time (and now money as well) to get through your hoops?

no thank you. competition has my business now
 
Last edited:
G.A.S said:
43,000 points: sure. But some of those criteria are behind walls not everyone can climb:
  • Retirees only: 2500
  • Islamic only: 1000
  • R15m investment with a portfolio manager: 5000
  • R500k Channel islands fixed deposit: 4500
  • R500k Channel islands current/call/32 day account: 3500
  • Families only: 2000-3000
Click to expand...
These rich dudes do not give a dam about eBucks.
Only people putting in the work, are small business dudes that can max the points.
Imagine a multi-millionaire trying to score R4000-R6000 a month. NEVER GONNA HAPPEN.
 
Ragnarök said:
They all in the same whatsapp group , they give you something here , but take it somewhere else
Click to expand...
Eh? It is objectively possible to measure banks. Money-in vs Money-out and even service can be objectively measured.

In the past I had been an FNB fan, even knowing that their service was bad, because their digital channels were best in class and perks were amazing. And they worked out cheaper for what you got in total.

Now the money-in /money-out has changed. The digital channels hasn't improved in probably a decade. And their other service deteriorated further.

In the side I opened a Capitec account. Took 5 minutes on the app. The app is actually modern and usable with everything I want. They are cheap as chips. Everything is straightforward. No mental gymnastics required.

So I have actually partially moved some of my banking to Capitec already. Because Capitec just had less friction... And if eBucks collapse there is no reason to play silly games. Getting 1% back on credit card spend predictably might work out better than maybe getting 15% or 7% or 30% or 0% depending on the phase of the moon and how much money you lose through their crap products you are now forced to take.

It is sad. If FNBs other products were actually good then it would be a no-brainer. I wanted to open a unit trust about 3 years ago and my first thought was FNB having it all nice and integrated. Then I read the factsheets. I am not sure how anybody with a hint of selfworth can push those products?

But competition is a wonderful thing. These plays by them is obviously meant to boost short term earnings. It will certainly flame out long-term.
 
I decided to leave FNB when they changed the rules for eBucks to make me buy their products - no thanks!
Learning the ropes with Discovery but so far, the their earn/spend partners alone makes FNB look useless.
 
Mirai said:
Banks can't afford to pay salaries, pay tax, pay crime fees, pay exec bonuses and make a profit while giving all these perks. At the end of the day there are a handful of banks in SA, and the typical person has to bank with at least one of them. Those who leave FNB will find nothing better or worse next door.
Click to expand...
Your argument doesn’t make sense when fnb’s latest results show a significant performance improvement and profitability. If they were loss making, the narrative changes. You cannot defend a point when the facts are reflect a different position.

Clients joined fnb for their rewards program and made decisions based on their rules. You cannot change the goal posts when your clients are meeting your criteria. The ebucks program may be free on paper but it’s being paid via their bank fees.

Your point of rewards elsewhere is valid but their move has eroded trust and loyalty of their client base and is chasing away potential clients.
 
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