FNB Global Account Card

No, loungekey dont send a card. You download the loungekey app, choose the lounge you want to visit, and it generates a QR code which they scan to give you entry. 1+1, pay for 3rd.
 
Drifter said:
No, loungekey dont send a card. You download the loungekey app, choose the lounge you want to visit, and it generates a QR code which they scan to give you entry. 1+1, pay for 3rd.
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Ah schit. Sorry for my brain fart. I’m confusing myself from earlier talk about having a card at the lounges that don’t have QR scanners. Then I suppose that would be the actual Global Card everyone was talking about.
 
Trilkop said:
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.
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I primarily have the global account for the lounge visits.

The secondary use is to build up a dollar reserve in the event that my rand savings take a hit.

I suspect that most here have it for these two purposes rather than a dollar-based transactional account...
 
IMO I have lost a lot of money over the last few years by not investing offshore, and I need to try and limit further losses. Just parking money at 0% in USD would have vastly outperformed ZAR investment funds over the last ten years.

So, I have looked at the FNB Global accounts, but it seems that the fees to transfer currency to accounts overseas are horrendous, and completely out of line. Don't know why, SWIFT fees are fixed AFAIK, and do not go up as the amount increases, but not so with FNB.

Any suggestions of a better way to do it. Let's say USD 10 000 for starters.

Now that CR has clearly demonstrated his incompetence, I need to get my ducks in a row.
 
I thought I'd settled on getting a Capitec credit card for my European trip as it's the cheapest... But again, I'm in 2 minds.

I think the eBucks and Lounge Key make it an option
 
Dolby said:
I thought I'd settled on getting a Capitec credit card for my European trip as it's the cheapest... But again, I'm in 2 minds.

I think the eBucks and Lounge Key make it an option
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Juat get the capitec debit card. It works the same ito transfer fees without the R50 monthly fee. That's if you have the cash to deposit for your trip.

Then add the global card for lounge access.
 
rodga said:
Juat get the capitec debit card. It works the same ito transfer fees without the R50 monthly fee. That's if you have the cash to deposit for your trip.

Then add the global card for lounge access.
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Yea, I think I'll need to split the payment and get the FNB global .... I'll just put in the lowest possible
 
Dolby said:
Yea, I think I'll need to split the payment and get the FNB global .... I'll just put in the lowest possible
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You don't have to load any funds or use the card for loungekey access. Simply order the card (free on most packages) and then sign up on the loungekey website.
 
It actually doesn't seem too bad.

So I transfer my R20,000.00 into it (so R550.00 once off fee) ... then my swipes are free and I get 4% back on each swipe. Plus, LoungeKey access.

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Capitec credit card is free swipe and no conversion ... but the eBucks I get on Global, may kinda nullify the conversation fee.
 
Dolby said:
It actually doesn't seem too bad.

So I transfer my R20,000.00 into it (so R550.00 once off fee) ... then my swipes are free and I get 4% back on each swipe. Plus, LoungeKey access.

View attachment 684593

Capitec credit card is free swipe and no conversion ... but the eBucks I get on Global, may kinda nullify the conversation fee.
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There shouldn't be a fee to transfer the funds
 
signates said:
Nope. Only when you swipe a euro card at a non euro pay point.
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Interesting ...

So then it really is a no brainer - FNB Global must be the cheapest way to pay for a holiday overseas?

I honestly thought the transfer from Rand <> Euro would attract the conversation fee
 
This was a transfer from my FNB Cheque account to my GBP Global account on 15 April 2019. The XE rate on the day was R18.25 = £1. Fnb offered R18.70 with no currency conversion charge.

Transaction history from my GBP Global account showing the deposit and no fees on the quote.
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What is the benefit of the card vs just using your credit card overseas?
 
neoprema said:
What is the benefit of the card vs just using your credit card overseas?
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No currency conversion fee and you can fix the exchange rate at the time of the transfer. When you swipe your credit card you will get the rate on the day if the transaction and a currency conversion fee.

Makes for easier budgeting for your overseas trip as you can transfer the total rand amount to your global account and just swipe. Also free international airport lounge access with loungekey.
 
signates said:
No currency conversion fee and you can fix the exchange rate at the time of the transfer. When you swipe your credit card you will get the rate on the day if the transaction and a currency conversion fee.

Makes for easier budgeting for your overseas trip as you can transfer the total rand amount to your global account and just swipe. Also free international airport lounge access with loungekey.
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Thanks.

Trying to compare it to my Nedbank Amex card. Cause yes i can't preload it with USD but I can swipe it anywhere overseas and it gets free lounge access with Priority Pass.

I do like the ability to buy the forex when rates are good though... hmmm.
 
Dolby said:
But those exchange rates make those good rates seem just OK in the end.
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The rates are far better than you’d get from an ATM, a bank or high street kiosk in Europe

Yesterday when the mid market to Euro was 15.55, I transferred some Rands to euros at 15.85. Not bad at all.
 
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