FNB Global Account Card

[mechwarrior]

Building onto the tap and go discussions, I did try and load the card onto Samsung Pay but wasn't able to (albeit a month or two ago). FNB confirmed with me that there is some plan to implement it in future, however there is no timeline currently.

 

[mechwarrior]

sorry then 4 euro is correct, I cant remember being charged anything more. Believe that side is so expensive those fees wont even bother you.

No problem. Yes agreed. It just becomes a question of how much cash to carry around at any given time vs. offsetting smaller amounts over multiple withdrawals (if fees were non-existent). But yes I totally agree, the fees are negligible in comparison to the amounts being withdrawn...Thanks for your help

 

[Snyper564]

No problem. Yes agreed. It just becomes a question of how much cash to carry around at any given time vs. offsetting smaller amounts over multiple withdrawals (if fees were non-existent). But yes I totally agree, the fees are negligible in comparison to the amounts being withdrawn...Thanks for your help

From my two weeks in france I drew 300 euro and had that cash and always used the card to swipe first then went cash and came back with change. there were 2 places that didn't take card even the small shops in the markets had machines.

 

[Gamer]

Glad I found this thread. Heading to Italy next month (wife and I) and have just opened a GA and ordered the card.
From what I'm reading...
Once I get card, I register on Loungekey (website/app).
I transfer my to my GA to "preload" it with Euro's.
I see people have taken guests in at Dubai without issue, anybody with experience at Rome (FCO)?

Do I need to activate the card in a particular way before 1st use?

Thanks

 

[Snyper564]

Glad I found this thread. Heading to Italy next month (wife and I) and have just opened a GA and ordered the card.
From what I'm reading...
Once I get card, I register on Loungekey (website/app). you can but don't have to.
I transfer my to my GA to "preload" it with Euro's. Rate looks more decent than off late you can buy now if your account is open.
I see people have taken guests in at Dubai without issue, anybody with experience at Rome (FCO)? Same +1 guest applies everywhere. Check the app or website for which lounges you can go to.

Do I need to activate the card in a particular way before 1st use? no.

Thanks

 

[mechwarrior]

As noted in the thread before, you are able to change the pin on the card at an fnb atm here is SA before you leave (but not via the app). I did this today, and when I put the card in the atm, there was an option to 'enable pin on chip'... Is this required? It is by default disabled, should it be enabled? Has anyone else swiped in Europe with it disabled without issue?

 

[Gamer]

As noted in the thread before, you are able to change the pin on the card at an fnb atm here is SA before you leave (but not via the app). I did this today, and when I put the card in the atm, there was an option to 'enable pin on chip'... Is this required? It is by default disabled, should it be enabled? Has anyone else swiped in Europe with it disabled without issue?

I got my card this morning and decided to activate pin on chip at the ATM. I figured I'd rather be able to use the card at all vendors/outlets than perhaps have the odd one that does not work without pin enabled. Also, if the card does get lost while on holiday, the pin enabled for chip transactions is more secure.

 

[mechwarrior]

I got my card this morning and decided to activate pin on chip at the ATM. I figured I'd rather be able to use the card at all vendors/outlets than perhaps have the odd one that does not work without pin enabled. Also, if the card does get lost while on holiday, the pin enabled for chip transactions is more secure.

I did the same and activated it. And if swiping really is a problem, I'll just withdraw cash. Although I really don't forsee any issues. Seems I'm off to Italy before you (Venice, Florence, Rome) so I'll post back if I have any problems along the way.

 

[Gamer]

I did the same and activated it. And if swiping really is a problem, I'll just withdraw cash. Although I really don't forsee any issues. Seems I'm off to Italy before you (Venice, Florence, Rome) so I'll post back if I have any problems along the way.

Hehe, nice, yes similar itinerary, into Venice, onto Florence (and surrounds: Cinque Terre and Siena for the odd night) and then down to Rome. Only departing 18 October though. Please do share any tips and advice on the holiday in general and of course any GA / lounge tips.

 

[BlockingThePass]

Why don't they give intrest in all the currencies

 

[Snyper564]

Why don't they give intrest in all the currencies

The interest they give on the others are so low it doesn't matter. YOu don't get this account to earn interest. What you should be aware of is in some countries you actually pay the bank to hold your money. You pay them interest. Its weird, its negative interest but it does happen.

Will Negative Interest Rates Save Europe and Japan?

Here are what negative interest rates are, why they are used, and their impact on investors.

www.thebalance.com

Negative Interest Rates
Interest rates are the single most important monetary policy tool used by central banks to influence inflation throughout an economy.



A central bank attempts to combat deflation by reducing interest rates in order to encourage consumers and businesses to spend money and raise prices. In some cases, these conventional monetary policies don’t work and the central bank will lower interest rates into negative territory. The move is designed to incentivize banks to lend money and businesses to spend money rather than pay a fee in order to keep it safe at a bank.



There are many different instances of negative interest rates throughout history, but more recently, these policies have been used to ward off deflation. The European Central Bank introduced its negative interest rate policy in 2014, and in January of 2016, the Bank of Japan unexpectedly did the same, cutting its benchmark rates below zero in a bold move to stimulate its economy and overcome persistent deflationary pressures in its economy.





The graph below illustrates Japan's 10-year government bond yields from 2012 through the present.

 

[BlockingThePass]

The interest they give on the others are so low it doesn't matter. YOu don't get this account to earn interest. What you should be aware of is in some countries you actually pay the bank to hold your money. You pay them interest. Its weird, its negative interest but it does happen.

Will Negative Interest Rates Save Europe and Japan?

Here are what negative interest rates are, why they are used, and their impact on investors.

www.thebalance.com

Negative Interest Rates
Interest rates are the single most important monetary policy tool used by central banks to influence inflation throughout an economy.



A central bank attempts to combat deflation by reducing interest rates in order to encourage consumers and businesses to spend money and raise prices. In some cases, these conventional monetary policies don’t work and the central bank will lower interest rates into negative territory. The move is designed to incentivize banks to lend money and businesses to spend money rather than pay a fee in order to keep it safe at a bank.



There are many different instances of negative interest rates throughout history, but more recently, these policies have been used to ward off deflation. The European Central Bank introduced its negative interest rate policy in 2014, and in January of 2016, the Bank of Japan unexpectedly did the same, cutting its benchmark rates below zero in a bold move to stimulate its economy and overcome persistent deflationary pressures in its economy.





The graph below illustrates Japan's 10-year government bond yields from 2012 through the present.

Lmao, even if I warm 0.3% interest I'm happy.

 

[Snyper564]

Lmao, even if I warm 0.3% interest I'm happy.

0.3% is change... that R300 per R100k per year you get these accounts to hedge and build forex not for their interest.

 

[harties]

Can someone help me understand how global accounts here. So you if you want multiple currencies like pounds,euros, dollars you will need to have an account for each these currencies? If you order a global debit card it will be linked to one of the currency only like a euro debit card?

 

[Spizz]

Can someone help me understand how global accounts here. So you if you want multiple currencies like pounds,euros, dollars you will need to have an account for each these currencies? If you order a global debit card it will be linked to one of the currency only like a euro debit card?

Yes. You open an account and choose a currency. Ive got a euro account, but if I want dollars as well then I need to open a separate and specific account.

 

[Nom Chompsky]

So I just transferred Rands into Pounds now.

How long does it take to reflect in the Global Account?

And is the experience that you can use it off the bat and not have to use an ATM or stuff like that?

 

[Jopie Fourie]

So I just transferred Rands into Pounds now.

How long does it take to reflect in the Global Account?

And is the experience that you can use it off the bat and not have to use an ATM or stuff like that?

Will have it in your Pounds account by tomorrow morning 09:00. If you do your transfer in a banking work day, the money will often reflect in your Pound account within minutes.

I could not use my card for purchases locally. It works great for Amazon and eBay purchases though. Also working perfectly anywhere abroad.

 

[AchmatK]

So I just transferred Rands into Pounds now.

How long does it take to reflect in the Global Account?

And is the experience that you can use it off the bat and not have to use an ATM or stuff like that?

I recall having to activate the card on my online banking profile. After that I could use it online for ebay, amazon, etc.

 

[Nom Chompsky]

I recall having to activate the card on my online banking profile. After that I could use it online for ebay, amazon, etc.

Thanks - yeah mine is active and I have got a pin. All doing this rather last minute! Catching my flight lunchtime tomorrow!

 

[Gamer]

Hey all,

Please advise how to transfer to my Global Acc from my cheque account.
If I go to Transfers on internet banking, I can choose my "from" account (Cheque) but my Global Acc is not listed under the "to" acc list.

The following screen shot indicates this is how it should be done though...