FNB Global Account Card

[AchmatK]

Just a question regarding using the global account to transfer funds overseas.

I transferred R20k to my GBP Global account. The price I paid was £0.30 invoice the mid market rate. Ended up getting £1 133.14.

I then used transfer Wise to transfer to my Monzo account in the UK and opted to use my global card for the transfer. Their fee was £30.62 on a transfer of £1 000. Fnb will also give me back 4% in ebucks on all card transactions up to R40k. Effectively the ebucks I get will be more than the fee that transfer Wise charged not taking into account the ebucks 40% discount when buying on the FNB app.

My question is, is their a more cost effective way of sending smaller amounts up to R40k in a month?

Total cost for this transfer is £30.62. I should also get about R700 back in ebucks in September so effectively I will get back more than what I paid in fees.

 

[Gtx Gaming]

Just a question regarding using the global account to transfer funds overseas.

I transferred R20k to my GBP Global account. The price I paid was £0.30 invoice the mid market rate. Ended up getting £1 133.14.

I then used transfer Wise to transfer to my Monzo account in the UK and opted to use my global card for the transfer. Their fee was £30.62 on a transfer of £1 000. Fnb will also give me back 4% in ebucks on all card transactions up to R40k. Effectively the ebucks I get will be more than the fee that transfer Wise charged not taking into account the ebucks 40% discount when buying on the FNB app.

My question is, is their a more cost effective way of sending smaller amounts up to R40k in a month?

Total cost for this transfer is £30.62. I should also get about R700 back in ebucks in September so effectively I will get back more than what I paid in fees.

Wbforex charges fixed fee R230 for any amount to transfer forex.

 

[AchmatK]

Wbforex charges fixed fee R230 for any amount to transfer forex.

For amounts over R40k I'll definitely look at them.

Just trying to understand if I'm right that effectively fnb will pay me more back in ebucks than the fees I pay if I use my global card on transfer Wise if the monthly transfer amount is less than R40k.

4% on R40k = eB16k = R1 600. Transfer Wise charges 3% on sending money using your global card in the currency used.

 

[Drifter]

I got zero Ebucks for using my card and the lounge

 

[Speedster]

I got zero Ebucks for using my card and the lounge

Ebucks only get allocated around the 8th of next month

 

[Sinbad]

Correct, also you can get no secondary cards on Global account either. So only you +guess has access to lounge.

Going to have to get my wife her own account ;/

 

[Thor]

I am in the process of cancelling my US account with FNB. 2 weeks ago, while on holiday in the US, I opened my own Cheque account with Wells Fargo bank in Orlando, Florida. Now I have my own real US bank account.

Why did you chose Wells Fargo vs the others?

How is tax handled in this account?

 

[JayM]

How is tax handled in this account?

Like any other account surely? Declare the interest on your tax return and pay SARS.

 

[Thor]

Like any other account surely? Declare the interest on your tax return and pay SARS.

And IRS?

 

[JayM]

And IRS?

Under the US/SA DTA, interest payments are taxable at 0% in the US. So you only pay SARS.

 

[Drifter]

Ebucks only get allocated around the 8th of next month

This was in June. Got nothing for that in July.

 

[Speedster]

This was in June. Got nothing for that in July.

Rules only kicked in from July

 

[Anna00]

Can load multiple currencies on one card? I ordered a Euro card because we're traveling to Ireland first then to England. But now I see that not all places there take Euros as well

 

[Speedster]

Can load multiple currencies on one card? I ordered a Euro card because we're traveling to Ireland first then to England. But now I see that not all places there take Euros as well

No, one currency per card

 

[Snyper564]

Feedback from recent trip to France.

GA card was absolutely awesome! Worked everywhere and every time it was needed from metro to market, from ATM to stores no issues whatsoever. Also worked with the PIN I changed it too only tapandgo didn't work don't care much for that so all good otherwise!

 

[Sinbad]

Feedback from recent trip to France.

GA card was absolutely awesome! Worked everywhere and every time it was needed from metro to market, from ATM to stores no issues whatsoever. Also worked with the PIN I changed it too only tapandgo didn't work don't care much for that so all good otherwise!

My tap and go works, could not change the pin

Weird

 

[Snyper564]

My tap and go works, could not change the pin

Weird

When I popped the card into the FNB ATM I selected the Chip and pin option and also changed the pin there. Apparently the fact that I changed the PIN is not normal from what a few ppl have managed. But my wife was able to change hers the same way so no idea there and 4% in ebucks back yes please!

 

[Sinbad]

When I popped the card into the FNB ATM I selected the Chip and pin option and also changed the pin there. Apparently the fact that I changed the PIN is not normal from what a few ppl have managed. But my wife was able to change hers the same way so no idea there and 4% in ebucks back yes please!

Especially at LA prices!

 

[BlockingThePass]

Is their a minimum amount you have to keep in the account?

 

[Speedster]

Is their a minimum amount you have to keep in the account?

Not that I'm aware of