FNB Private Client Cheque Account - any good?

A bank must work for you, not you for the bank.

I have been with FNB for decades and overall, no bank can beat them. (And I am on platinum/premier)

Sum all the packages up comparing banks, and choose the best one that suits you
 
A bank must work for you, not you for the bank.

I have been with FNB for decades and overall, no bank can beat them.

Sum all the packages up comparing banks, and choose the best one that suits you
 
zerocool2009 said:
A bank must work for you, not you for the bank.

I have been with FNB for decades and overall, no bank can beat them.

Sum all the packages up comparing banks, and choose the best one that suits you
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Looks like they can be beaten by the other posts.
 
zerocool2009 said:
Well ... If a banks pay you to be with them, that says a lot

I am very happy with FNB
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With FNB, Premier was always better than their "private bank" - I always had good service from them - but their private bank is just an oversold "perk' that doesn't work... the above complaints remind me of ABSA Private.... horrible bank, still spamming me and introducing me to my ever changing banker 3 years after I closed my accounts.

I actually moved from FNB Premier to Investec when I moved my bond from ABSA, they offered FNB Private, but - from previous experience, I knew better. (FNB Premier couldn't offer me a decent rate on my bond)
 
Summary

eBucks
The rules for rewards are the same as on premier
Your earn rates are higher than on premier
Deposit requirement is greater
More expensive than premier

Banking
Most people aren't satisfied with their banker and end up using the call center anyway
 
I've been on Private Client for a month now and already want to downgrade. My private banker is never available and doesn't respond to emails...not my idea of private banking.
 
kanzenj said:
I've been on Private Client for a month now and already want to downgrade. My private banker is never available and doesn't respond to emails...not my idea of private banking.
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SO has the same problem with his private banker.
 
kanzenj said:
I've been on Private Client for a month now and already want to downgrade. My private banker is never available and doesn't respond to emails...not my idea of private banking.
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Just curious: What do you want your banking rep to do? The only time I ever speak to my 'personal banker' is when a new one gets appointed, once every 3-4 years or so. The rest happens online.
 
kanzenj said:
I've been on Private Client for a month now and already want to downgrade. My private banker is never available and doesn't respond to emails...not my idea of private banking.
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You've taken this up with FNB already?
 
Arthur said:
Just curious: What do you want your banking rep to do? The only time I ever speak to my 'personal banker' is when a new one gets appointed, once every 3-4 years or so. The rest happens online.
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I originally upgraded to PC because of the possibility of lower interest rates. My private banker told me to get in touch after a period of one month to get the current interest rates reviewed.

I shouldn't actually say never available, but responding more than a day later defeats the purpose of paying a higher fee for something which is essentially the same service as Premier.

xrapidx said:
You've taken this up with FNB already?
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Everything has now been sorted. I'll be back on Premier pretty soon - they've actioned the downgrade process.

Out of interest though...since I'll have a new credit card, they should have the new NCA rules applied to it?
 
I'm considering upgrading to PC from Platinum purely for the higher eBucks reward rate (and limits). Plus the international slow lounge access and AVIS point-to-point are pretty decent perks.
 
Piece of junk. Useless service. Useless so called Bankers. Even their supposed Service Suite. Takes 4 days to get a call back from logging an online request. Then passed the buck around and blamed someone that left a month ago. I've been banking with FNB for 5+ years. Been on Private almost 2 years. I'm glad to say goodbye to them. Waste of money in my opinion.
 
Speedster said:
I'm considering upgrading to PC from Platinum purely for the higher eBucks reward rate (and limits). Plus the international slow lounge access and AVIS point-to-point are pretty decent perks.
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I did same. You have to manage your ebucks quite closely to make sure you qualify but it's doable.
There are a few odd rules last time I checked though. Like: If your homeloan goes below R100k left to pay then you lose rewards points. So they're rewarding you for having a larger bond. Which is easy to figure out - larger bond, more interest, more money for bank, more ebucks. But it goes against them talking about building wealth and being your partner in wealth creation which should include minimizing debt over time.
 
Waaib said:
I did same. You have to manage your ebucks quite closely to make sure you qualify but it's doable.
There are a few odd rules last time I checked though. Like: If your homeloan goes below R100k left to pay then you lose rewards points. So they're rewarding you for having a larger bond. Which is easy to figure out - larger bond, more interest, more money for bank, more ebucks. But it goes against them talking about building wealth and being your partner in wealth creation which should include minimizing debt over time.
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Yea, I had a look at the calculator and should be able to attain a steady level 5. My home loan is with another bank, so I'm not too fussed about those points.
 
As a premier client, I've been very happy with FNB through the years. They have offered the Private Banking package a few times, but I always ignored it. The main reason for this is that I'm already earning enough eBucks, have access to SLOW Lounges when I need them, have the AA roadside benefit and I've built my own "relationships" with some strategic people in various business units to get the job done. No need for a personal banker. In short, I don't see the need of paying more in banking fees when I'm very satisfied with FNB's service already. The other day, CCD couriers delivered a personal thank you note from FNB Premier's CEO, Lynette Kloppers. With it, a R500 gift card. When has a bank personally thanked you for banking with them? FNB gave me the best rate on everything - from my home loan to my credit card. I look at other banks' clients and I feel sorry for them. Granted, it does take years to even have a small business relationship, but FNB's overall service is much more valuable than paying simar or cheaper banking fees at another bank. They are a bank... So they'll take their chances to have you pay more. I've seen it with my home loan, credit cards etc. You just have to negotiate with them - something I find most people don't attempt.
 
FNB is really squeezing this for everything it's worth. They'll soon need to add more levels as they push people further up.
 
Puk said:
As a premier client, I've been very happy with FNB through the years. They have offered the Private Banking package a few times, but I always ignored it. The main reason for this is that I'm already earning enough eBucks, have access to SLOW Lounges when I need them, have the AA roadside benefit and I've built my own "relationships" with some strategic people in various business units to get the job done. No need for a personal banker. In short, I don't see the need of paying more in banking fees when I'm very satisfied with FNB's service already. The other day, CCD couriers delivered a personal thank you note from FNB Premier's CEO, Lynette Kloppers. With it, a R500 gift card. When has a bank personally thanked you for banking with them? FNB gave me the best rate on everything - from my home loan to my credit card. I look at other banks' clients and I feel sorry for them. Granted, it does take years to even have a small business relationship, but FNB's overall service is much more valuable than paying simar or cheaper banking fees at another bank. They are a bank... So they'll take their chances to have you pay more. I've seen it with my home loan, credit cards etc. You just have to negotiate with them - something I find most people don't attempt.
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lol.

If the bank is sending you a thank you for R500 it means you are one of their Premier Suckers. Banks aren't your friend, and if they sending you cash they are probably feeling guilty about something.
 
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