FNB Fusion

ace119 said:
However I did see briefly (and now its removed) saying that the fusion account only offers up to R60k credit facility.
But my current overdraft and credit card exceed this R60k cap, anyone got a larger credit facility on your fusion card?
Click to expand...

Well that would not be cool if true. My approved credit facility was indeed below R60k.
 
DawieZA said:
Well that would not be cool if true. My approved credit facility was indeed below R60k.
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Yes.... would be a pain.
That will mean I could get the mac R60k on the fusion account. Then have to keep my credit card open for the remainder of my credit facility.

Not that I’d ever do that.... just seems a little strange.

Really looks like a great account, to simplify your life... but I’m nervous to take the plunge just yet.

Would like feedback from someone who has the account and used/ tested it :)
 
DawieZA said:
Well that would not be cool if true. My approved credit facility was indeed below R60k.
Click to expand...

Forgive me, I don't know how to upload pictures here.

My why is the mobile advertising, different from the web advertising?
Take a look at the FNB mobile app description of the Premier Fusion account..... it shows the R60k Limit???

The link is safe trust me:

http://oi65.tinypic.com/330zfol.jpg
 
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I see what you mean ace119. I had a read through my pre-agreement again this morning and no mention of a maximum credit facility amount. Perhaps I will give them a call today to confirm.
 
DawieZA said:
I see what you mean ace119. I had a read through my pre-agreement again this morning and no mention of a maximum credit facility amount. Perhaps I will give them a call today to confirm.
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That would be fantastic DawieZA... as its one of my more important questions, if you wouldn't mind sharing the outcome please?
otherwise did you get a better interest rate with your new fusion account?
 
ace119 said:
That would be fantastic DawieZA... as its one of my more important questions, if you wouldn't mind sharing the outcome please?
otherwise did you get a better interest rate with your new fusion account?
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I phoned the premier suite now and they could not find anything in regards to a maximum R60k credit limit in their product documentation.

I got a personalized interest rate of 17%. It works like an overdraft. So they will subtract the maximum interest rate (in my case 21%) from your account if you use more than R200 of your credit facility and then give you a rebate to bring it back down to you personalized interest rate. Same goes for the service fee you pay for using more than R200 of your credit facility.
 
DawieZA said:
I phoned the premier suite now and they could not find anything in regards to a maximum R60k credit limit in their product documentation.

I got a personalized interest rate of 17%. It works like an overdraft. So they will subtract the maximum interest rate (in my case 21%) from your account if you use more than R200 of your credit facility and then give you a rebate to bring it back down to you personalized interest rate. Same goes for the service fee you pay for using more than R200 of your credit facility.
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Thanks for that!!
Yea the only place I found the “up to R60k limit” was as per my screenshot on the FNB banking app. Strange.

Have a great day!
 
I received my card today and yes it pretty much looks exactly like the examples on the FNB website. Rather large FNB logon on the front and all.
 
Congrats! Nice.

So are you closing your credit card now.... and using the one card going forward?

Also I wonder what happens with my money in my savings Pocket? If FNB automatically move it to the new “Fusion” savings Pocket. Or if they just leave the savings Pocket as is.
 
Credit card account is closed yes and now I only have the one card. The old cheque card automatically gets cancelled as soon as you activate the Fusion card. I did not have a savings pocket as it was useless with me using my credit card only for purchases. Now I have opened a savings pocket but it seems like bank your change did not work with my old cheque card. Will see if transactions using the Fusion card will work for that.
 
DawieZA said:
Credit card account is closed yes and now I only have the one card. The old cheque card automatically gets cancelled as soon as you activate the Fusion card. I did not have a savings pocket as it was useless with me using my credit card only for purchases. Now I have opened a savings pocket but it seems like bank your change did not work with my old cheque card. Will see if transactions using the Fusion card will work for that.
Click to expand...

100% let me upgrade and test. Seems like a good opportunity. I will revert with any thing I believe will be helpful!
Thanks everyone!
 
DawieZA said:
I received my card today
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You now a single account number, right?
I guess behind the scenes they automatically transfer all the Fusion, and when you apply for a new debit order you give the new number?
Also, haven't read anywhere (lazy today) - but how does this affect eBucks?
Lastly, credit limit and interest rate changed?
 
Dolby said:
You now a single account number, right?
I guess behind the scenes they automatically transfer all the Fusion, and when you apply for a new debit order you give the new number?
Also, haven't read anywhere (lazy today) - but how does this affect eBucks?
Lastly, credit limit and interest rate changed?
Click to expand...

Yes I have a single account number. You have an option during the application process to convert your existing cheque account or open a new Fusion account. If you opt to convert the account, the account number you have remains the same. So no debit order issues. eBucks remains unaffected. Seeing as the credit facility functions like an overdraft the interest rate changes accordingly.
 
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ace119 said:
Congrats! Nice.

So are you closing your credit card now.... and using the one card going forward?

Also I wonder what happens with my money in my savings Pocket? If FNB automatically move it to the new “Fusion” savings Pocket. Or if they just leave the savings Pocket as is.
Click to expand...

The Savings Pocket is a stand alone thing, so it simply remains the same and gets linked to the new Fusion product, just like it was previously linked to whatever other account you had.
 
Dolby said:
You now a single account number, right?
Click to expand...

Unless you had two cheque accounts you always had a single account number. It remains that exact account number.

I guess behind the scenes they automatically transfer all the Fusion, and when you apply for a new debit order you give the new number?
Click to expand...

There is no transfer or new number. The old cheque account simply is renamed Fusion.

Also, haven't read anywhere (lazy today) - but how does this affect eBucks?
Click to expand...

Pretty much remains identical.

You now get points for having a Fusion account in the same bracket where you previous got points for having the Bundled Cheque+Credit Card option.
 
DawieZA said:
Credit card account is closed yes and now I only have the one card. The old cheque card automatically gets cancelled as soon as you activate the Fusion card. I did not have a savings pocket as it was useless with me using my credit card only for purchases. Now I have opened a savings pocket but it seems like bank your change did not work with my old cheque card. Will see if transactions using the Fusion card will work for that.
Click to expand...

I had to use the Secure Messaging function to get Bank Your Change activated and set to R5 (for eBucks).

The information on the website to SMS the number didn't work.
 
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