FNB Private client vs Private wealth

[KTM300or950]

Good day. I was on Private wealth and moved back to private client account a few years ago. I think my reasoning behind it was earning ebucks was easier on private client as to private wealth. I do earn good ebucks monthly and now bank wants to upgrade me to private wealth again. Anyone advise to stay on private client or move to private wealth? Where will I earn most ebucks and maintain level 5 easily?

 

[blunt]

I've been on PW and PC and went back to Premier. I haven't found any benefit to the "Private" ranges and the private bankers are pretty hopeless and slower to get an answer out of than the Premier helpdesk - at least from my experience.

 

[syntax]

It is harder to move up levels, but once there you get more.
I got significantly better home loan rates and bond applications in general once I moved.
The private banker went out of their way to make one of my applications work

 

[blunt]

It is harder to move up levels, but once there you get more.
I got significantly better home loan rates and bond applications in general once I moved.
The private banker went out of their way to make one of my applications work

I asked them if private gave me a chance for a better rate they said no not at all it's all based on your credit history, whether you're gold/premier/private you will not get any better or worse rate - because that was the *only* reason I would consider staying.

 

[syntax]

I asked them if private gave me a chance for a better rate they said no not at all it's all based on your credit history, whether you're gold/premier/private you will not get any better or worse rate - because that was the *only* reason I would consider staying.

I have definitely gotten better interest rates since moving. However rather than relying on my opinion, there is this benefit which disproves that immediately.
They give a 0.25% additionally off your bond rate if you get your salary that is used as a qualifying criteria deposited into your RMB account.
Whether or not my other interest rates were better or not due to my change in accounts, this is definitely better in black and white.
They also seemed more reasonable when using rental income to reflect affordability and negotiated 100% bonds on multiple properties.

 

[Hamster]

I've been on PW and PC and went back to Premier. I haven't found any benefit to the "Private" ranges and the private bankers are pretty hopeless and slower to get an answer out of than the Premier helpdesk - at least from my experience.

This. I'm not sure why I bothered moving "up" from Premiere. So far my private banker has been useless.

I pay more, earn less ebucks and still pay with Zapper so the black card means fokkol. In fact it makes me look like a Capitec poor person.

 

[Pineapple Smurf]

i downgraded myself from Private Client back to Gold last year Januworry
Was Level zero on eBucks as I never "earned enough"

Very happy with Level 5 now and i do not mind 1 bit waving my Gold card in the air when i pay for something (less chance of been robbed as well)

Plus monthly banking fees are less now on cheque and credit card

 

[Hamster]

Anybody had any negative effect wrt home loans etc? As far as I know the only benefit I have from being on private client is a low interest rate on my credit card, which is pointless in my case.

 

[Pineapple Smurf]

Anybody had any negative effect wrt home loans etc? As far as I know the only benefit I have from being on private client is a low interest rate on my credit card, which is pointless in my case.

nope on my side

i was on Gold 9 years ago when i took out my FNB bank loan to buy my apartment and they gave me prime minus 0.5 without me even asking for a discount.

after that they upgraded me to platimum and then black card over the years. Nothing changed on my bank loan. And now that i am on Gold again still nothing has changed. If anything has changed I havent noticed it at all on my monthly slips (maybe i should check)

 

[Mike Hoxbig]

I've been on PW and PC and went back to Premier. I haven't found any benefit to the "Private" ranges and the private bankers are pretty hopeless and slower to get an answer out of than the Premier helpdesk - at least from my experience.

It's not just about the banker, I don't bother with them anyway as I just do most things myself.

It's about the higher caps, higher earn rate, lounge visits and Avis point to point. I was constantly hitting my cap on gold and premier.

Between PC and PW there's not much difference apart from a higher cap on PW and possibly slightly better rates...

 

[Pegging]

I've been on PW and PC and went back to Premier. I haven't found any benefit to the "Private" ranges and the private bankers are pretty hopeless and slower to get an answer out of than the Premier helpdesk - at least from my experience.

Same here

 

[blunt]

It's not just about the banker, I don't bother with them anyway as I just do most things myself.

It's about the higher caps, higher earn rate, lounge visits and Avis point to point. I was constantly hitting my cap on gold and premier.

Between PC and PW there's not much difference apart from a higher cap on PW and possibly slightly better rates...

I don't travel internationally enough to justify the R450+ a month just for a slow lounge visit at OR / CPT, I do travel up to JHB a fair amount in a year but the premier lounge visits cover that - I also don't ever rent cars so the Avis thing means nothing to me. If I was flying intl all the time then perhaps that perk would be worth it. As Hamster said I also have no use for a better CC rate as I never stay in the red long enough to pay interest. I'd probably get more ebucks with the higher cap, but enough to cover the additional R250 a month in bank fees? I'm not so sure, though I haven't calculated it.

 

[Mike Hoxbig]

I don't travel internationally enough to justify the R450+ a month just for a slow lounge visit at OR / CPT, I do travel up to JHB a fair amount in a year but the premier lounge visits cover that - I also don't ever rent cars so the Avis thing means nothing to me. If I was flying intl all the time then perhaps that perk would be worth it. As Hamster said I also have no use for a better CC rate as I never stay in the red long enough to pay interest. I'd probably get more ebucks with the higher cap, but enough to cover the additional R250 a month in bank fees? I'm not so sure, though I haven't calculated it.

Not trying to convince you, just mentioning the difference.

Avis p2p has nothing to do with car rentals. It's a point to point travel service. Basically 10 free shuttle rides, which if you use it for a largish distance can add up to quite a bit saved...

 

[JayM]

PW is only worth it if you use the higher spend caps for ebucks. The fee waiver also requires R100K in your cheque/fusion account (vs R75K for PC).

 

[syntax]

nope on my side

i was on Gold 9 years ago when i took out my FNB bank loan to buy my apartment and they gave me prime minus 0.5 without me even asking for a discount.

after that they upgraded me to platimum and then black card over the years. Nothing changed on my bank loan. And now that i am on Gold again still nothing has changed. If anything has changed I havent noticed it at all on my monthly slips (maybe i should check)

They wont automatically adjust your rates when you move accounts.
New bonds / finance applications I believe are better.
Have you asked for a rate negotiation on your current place?
I do this every 2 years or so and usually squeeze a little bit more out of them

 

[Nicholas Lisse]

They are both a waste of money... downgrading myself back to Premier.

 

[Pineapple Smurf]

downgrade FTW

 

[Snyper564]

My uncle whose ritch have the black card from fnb and their only give it to you if you make a moerse lota money so if you dont pay atleast 60k for the month then you must ma stay by the gold card

that hurt reading...

 

[PsYTraNc3]

They are both a waste of money... downgrading myself back to Premier.

Depends really.
I went from Premier to Private and was able to hit level 5 from the first month.
The extra ebucks earned definitely makes it worthwhile and my broker came in handy when financing a car recently.
She got me a better rate than I expected.

 

[Nicholas Lisse]

Depends really.
I went from Premier to Private and was able to hit level 5 from the first month.
The extra ebucks earned definitely makes it worthwhile and my broker came in handy when financing a car recently.
She got me a better rate than I expected.

thats fair...

I don’t utilize eBucks and I’m not interested in home or car loans, as those I pay cash. My banker is only interested in peddling the latest and greatest products, but when it comes time for assistance he disappears.

for me, it’s not worth it.