It's on the website and in the pricing guide but seems there is an issue with migrating clients which is why I was checking. Oh well- not life changing so no urgency I suppose.
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FNB Fusion
- Thread starter Dolby
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It's on the website and in the pricing guide but seems there is an issue with migrating clients which is why I was checking. Oh well- not life changing so no urgency I suppose.
backstreetboy
Honorary Master
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Cardless withdrawal?
SauRoNZA
Honorary Master
How is this relevant to FNB Fusion specifically over just about any other account?
Also as illustrated above you don’t even need the car if you desperately want cash.
Adenoid Hynkel
Executive Member
So how does the interest rate work out? Let's assume you have a interest rate of 14% on your credit card and 17% on your overdraft facility, what will you get on fusion?
I believe you get a new one so prolly just the 14% as the credit card will fall away.
HavocXphere
Honorary Master
Yeah I much prefer the combined model.
It's less hassle and easier to see where you stand at any given point.
Only downside is you have to run the account at a constant deficit & bring it back to zero monthly to really benefit from the interest free period. And to do that you need some kind of savings account or similar to transfer excess money out.
It's less hassle and easier to see where you stand at any given point.
Only downside is you have to run the account at a constant deficit & bring it back to zero monthly to really benefit from the interest free period. And to do that you need some kind of savings account or similar to transfer excess money out.
Dolby
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I asked the same thing to FNB last week sometime.
'Hi FNB. I currently have a different rate on both my credit card and overdraft. Please let me know how the Fusion will work?'
'Thanks Mr Dolby. You currently have a different interest rate on your credit card (17%) and overdraft (16%). Please check the website to read more on Fusion'
She doesn't even ANSWER my question :/ and told me exactly what I told her (although, she didn't mention rebates on the overdraft)
And I get a reply this morning, still doesn't answer :
'Please note currently you get charged a debit rate on your credit card and overdraft. However, with Fusion you'll only be charged one'
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At least you know where your fees are going. Definitely not Into product education and training.
The Fusion account application goes through a new credit and affordability check. So neither your existing cheque or credit card account interest rate will have a bearing on what you get. Thus I very much doubt you will get an answer out of the call center staff on your interest rate question. That being said they could have done better with product education for them.
On a different note I saw something interesting at Checkers this weekend. The point of sale device gave me an option for an extended payment when paying with my card. I wonder what would happen if you select that option seeing as there is no budget facility on the Fusion account that I am aware of.
On a different note I saw something interesting at Checkers this weekend. The point of sale device gave me an option for an extended payment when paying with my card. I wonder what would happen if you select that option seeing as there is no budget facility on the Fusion account that I am aware of.
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Dolby
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Ok she phoned to tell me the same thing now.
So I said she can go ahead and score me, but she said she'll only get the rate after the account is open and I'll be charged fees to open. Either she's incorrect or FNB really screwed up
If I remember correctly you will be given the interest rate during the application before you submit it for processing. So you can see what you get without completing the application.
ToxicBunny
Oi! Leave me out of this...
I was given the rate and the limit during application process and declined it since it was worse than where I currently am sitting with fnb
chopsky
Expert Member
I currently have a Gold cheque account. I've had FNB calling me trying to upsell me to the Premier Cheque & Credit Card bundle, and then I came across this new Fusion Premier account. I'm considering upgrading from Gold > Premier for the added eBucks rewards. I asked the FNB guy what the new account was about and if he could explain the difference, and he seemed rather clueless. After a while he figured out that you get 30 days interest free on the Fusion, but 55 days on the separate credit card.
I'm a bit confused as to how the Fusion account works. At the moment, with my Gold cheque card, if I swipe, it comes straight off my account. If I swipe the Fusion card, does it not debit the account? Does it simply add the credit to the card and I have to transfer the funds from my account to the card when I'm ready?
Would appreciate if someone could please explain in lamens terms. Thanks
I'm a bit confused as to how the Fusion account works. At the moment, with my Gold cheque card, if I swipe, it comes straight off my account. If I swipe the Fusion card, does it not debit the account? Does it simply add the credit to the card and I have to transfer the funds from my account to the card when I'm ready?
Would appreciate if someone could please explain in lamens terms. Thanks
So the Premier Fusion account is meant to replace both your Gold Cheque account and Gold Credit Card account with a single account and card. It costs the same as the Premier bundle and your earn the same eBucks rewards you would do with the Premier bundle.
A few things to keep in mind:
1. You will be subject to a credit and affordability check which could result in a higher interest rate.
2. The credit facility on the Fusion account functions like an overdraft. So there is a service fee applicable if you use more than R200 of the overdraft.
3. There is no budget facility as you would find on a credit card account (my personal observation).
4. If you have a negative balance on the Fusion account, any card purchases will be 30 days interest free vs the 55 days interest free you find on a credit card account (but you noticed that already).
A few things to keep in mind:
1. You will be subject to a credit and affordability check which could result in a higher interest rate.
2. The credit facility on the Fusion account functions like an overdraft. So there is a service fee applicable if you use more than R200 of the overdraft.
3. There is no budget facility as you would find on a credit card account (my personal observation).
4. If you have a negative balance on the Fusion account, any card purchases will be 30 days interest free vs the 55 days interest free you find on a credit card account (but you noticed that already).
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chopsky
Expert Member
Thanks a lot DawieZA! Appreciate the clarification
When you spend on the Fusion card, is it not on credit? How do you/does it determine when you're spending on credit, or straight debiting your account?
When you spend on the Fusion card, is it not on credit? How do you/does it determine when you're spending on credit, or straight debiting your account?
Speedster
Honorary Master
If there is money in your account it comes of the balance, if there isn't it goes into credit. Really isn't that complicated
chopsky
Expert Member
Bingo. Thanks muchly!
es frustrating here.... because if I want to have the free monthly fees I need to maintain R50k in the fusion account, but to get the extra bucks I need to use into the negative credit facility hahahaha... so catch 22.