FNB Global Account Card

Card received today and registered with Loungekey without an issue :sneaky:

All within a week of applying
 
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....
 
ros_b said:
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....
Click to expand...

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.
 
Spizz said:
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.
Click to expand...
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?)
 
ros_b said:
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?)
Click to expand...
There's also no annual fee on the first global account.
 
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.
 
Speedster said:
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.
Click to expand...
You need to select global transfers.
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ros_b said:
My question was about a fee to withdraw money from an international ATM with the debit card linked to the global account.
Click to expand...
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 said:
My question was about a fee to withdraw money from an international ATM with the debit card linked to the global account.
Click to expand...
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
 

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Speedster said:
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
Click to expand...
... 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?
 
ros_b said:
... 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?
Click to expand...
The card is free, so lounge access is free too
 
Speedster said:
The card is free, so lounge access is free too
Click to expand...
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.
 
ros_b said:
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.
Click to expand...
ah, there is that. Here are the costs for gold account holders

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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.
 
Hassim1 said:
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.
Click to expand...
Yes you do.

You don't need to transfer funds into the account to get the card and lounge access.
 
Is there any benefit to using this account for overseas purchases? i.e. Amazon
versus using a normal credit card.
 
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