FNB Global Account Card

Nimz

Expert Member
Joined
Mar 13, 2008
Messages
4,600
#61
Card received today and registered with Loungekey without an issue :sneaky:

All within a week of applying
 

ros_b

Well-Known Member
Joined
Jul 26, 2010
Messages
399
#62
I wonder... could I get the card delivered to my mom? I'm already overseas but she's coming in about a month and could bring it to me.
My Global account is in USD. If I'm drawing non-USD currency from a foreign ATM (eg, Euros, Turkish lira, Indian rupees), is it better to use the Global Account debit card as opposed to one's normal FNB debit card? Both would require a currency conversion....
 

Spizz

Goat Botherer
Joined
Jan 19, 2009
Messages
23,303
#65
I wonder... could I get the card delivered to my mom? I'm already overseas but she's coming in about a month and could bring it to me.
My Global account is in USD. If I'm drawing non-USD currency from a foreign ATM (eg, Euros, Turkish lira, Indian rupees), is it better to use the Global Account debit card as opposed to one's normal FNB debit card? Both would require a currency conversion....
Yes, both do, but I think it's more consistent if not better using your Global Account due to the volatility of the Rand. I have a Euro account and used it to withdraw some Indonesian Rupiah last week. It showed the debit in my notification from FNB as a deduction as 97.12 euros. According to the rate on XE.com at the time, it should have been 93.71 euros. Converting the difference of 3.41 Euros gave me a charge of R54 when working it back. Not so bad I reckon.
 

ros_b

Well-Known Member
Joined
Jul 26, 2010
Messages
399
#66
Yes, both do, but I think it's more consistent if not better using your Global Account due to the volatility of the Rand. I have a Euro account and used it to withdraw some Indonesian Rupiah last week. It showed the debit in my notification from FNB as a deduction as 97.12 euros. According to the rate on XE.com at the time, it should have been 93.71 euros. Converting the difference of 3.41 Euros gave me a charge of R54 when working it back. Not so bad I reckon.
And just to make sure.... there's no actual fee to withdraw from the Global Account? Other than the exchange rate differential (which you'll always get, even using a credit card)? As far as I can tell, it's a flat R70 per ATM withdrawal using one's normal debit card. So that's quite a benefit, then! You've almost made up the $20 annual fee after 4 ATM withdrawals. (Though who uses cash anymore when travelling?)
 

signates

Expert Member
Joined
Dec 8, 2009
Messages
4,810
#67
And just to make sure.... there's no actual fee to withdraw from the Global Account? Other than the exchange rate differential (which you'll always get, even using a credit card)? As far as I can tell, it's a flat R70 per ATM withdrawal using one's normal debit card. So that's quite a benefit, then! You've almost made up the $20 annual fee after 4 ATM withdrawals. (Though who uses cash anymore when travelling?)
There's also no annual fee on the first global account.
 

Speedster

Executive Member
Joined
May 2, 2006
Messages
7,427
#68
How do you guys transfer funds to the global account? Neither the app nor internet banking allows me to select the global account to receive funds from a transfer.
 

signates

Expert Member
Joined
Dec 8, 2009
Messages
4,810
#72
My question was about a fee to withdraw money from an international ATM with the debit card linked to the global account.
I will check with my wife as she withdrew money in the UK last month but I'm sure she said there was no fees deducted from her global account.
 

ros_b

Well-Known Member
Joined
Jul 26, 2010
Messages
399
#74
Here we go. The fee isn't too bad actually. Withdrawing from an international ATM using my credit card is R70 + R2.10 per R100
... plus a currency conversion fee, presumably? Though I see that isn't stated - perhaps they just build the fee into the bad ratethat they give?

Thanks for that graphic - so unless you are withdrawing funds in the same currency as the card, there's no advantage. In other words, if I have a card linked to my USD global account, and I'm withdrawing money in, say, France, it will cost me $5 flat fee plus a currency conversion fee of 2.75%. Which is the same cost as me using my normal debit card on my Rand account - R70 plus the same percentage currency conversion fee. So really only worth it for withdrawing cash in a country that uses the same currency as your global account. Of course, useful for making online purchases in that currency to avoid currency conversion fees on one's Rand debit/credit card. So the question for me then becomes - is it worth paying $20 pa for lounge access?
 

Speedster

Executive Member
Joined
May 2, 2006
Messages
7,427
#75
... plus a currency conversion fee, presumably? Though I see that isn't stated - perhaps they just build the fee into the bad ratethat they give?

Thanks for that graphic - so unless you are withdrawing funds in the same currency as the card, there's no advantage. In other words, if I have a card linked to my USD global account, and I'm withdrawing money in, say, France, it will cost me $5 flat fee plus a currency conversion fee of 2.75%. Which is the same cost as me using my normal debit card on my Rand account - R70 plus the same percentage currency conversion fee. So really only worth it for withdrawing cash in a country that uses the same currency as your global account. Of course, useful for making online purchases in that currency to avoid currency conversion fees on one's Rand debit/credit card. So the question for me then becomes - is it worth paying $20 pa for lounge access?
The card is free, so lounge access is free too
 

ros_b

Well-Known Member
Joined
Jul 26, 2010
Messages
399
#76
The card is free, so lounge access is free too
According to the screenshot you kindly posted, the card is only free if you're a "Bundled PC Cheque Account Holder" - which I assume you are since you say it's free. What exactly is a "Bundled PC Cheque Account Holder"? I am an ordinary Gold Cheque account holder, on the unlimitd option, so I assume the card would cost me $20 / £15 / €17 pa.
 

Speedster

Executive Member
Joined
May 2, 2006
Messages
7,427
#77
According to the screenshot you kindly posted, the card is only free if you're a "Bundled PC Cheque Account Holder" - which I assume you are since you say it's free. What exactly is a "Bundled PC Cheque Account Holder"? I am an ordinary Gold Cheque account holder, on the unlimitd option, so I assume the card would cost me $20 / £15 / €17 pa.
ah, there is that. Here are the costs for gold account holders

20190514_100542.jpeg
 

Hassim1

New Member
Joined
May 17, 2019
Messages
1
#78
Do you need a tax number to transfer funds into a global account?
I would like to open an account for my wife mainly for lounge access but shes not employed, hence no tax number.
 

signates

Expert Member
Joined
Dec 8, 2009
Messages
4,810
#79
Do you need a tax number to transfer funds into a global account?
I would like to open an account for my wife mainly for lounge access but shes not employed, hence no tax number.
Yes you do.

You don't need to transfer funds into the account to get the card and lounge access.
 

wonduhboy

Well-Known Member
Joined
May 12, 2008
Messages
363
#80
Is there any benefit to using this account for overseas purchases? i.e. Amazon
versus using a normal credit card.
 
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