FNB Private client vs Private wealth

Splinter

Honorary Master
Joined
Oct 14, 2011
Messages
28,574
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.

I'm surprised you let it go at that. I had a bad experience with FNB, private banker couldn't help. So I took it up the chain of command and eventually got an agreed solution.
 

neyirK

Member
Joined
Jul 15, 2013
Messages
11
Which part of it?
I posted that there is a GUARANTEED .25% reduction in any home loan rate they give you, if you deposit your salary into the RMB account.
That seems like a difference


"Main Banked Qualifying Criteria: means the criteria more fully set out in the Main Banked Rules (“Rules”) which are available on the Bank’s website
(www.fnb.co.za). The Customer will receive an interest rate discount of 0.25%. This interest rate discount will apply to this Agreement on registration of
the mortgage bond and will continue to apply for the duration of this Agreement, provided that the Customer complies with the Main Banked Qualifying
Criteria and signs a debit order authorisation (if applicable) whereby all payments in terms of this Agreement are paid from the Customer’s FNB
transactional account within a period of 3 (three) months after the mortgage bond is registered."

Just applied for bond and was told that as long as you have any account with FNB (apparently it doesnt matter what type of account), you get the 0.25% off.
 

syntax

Executive Member
Joined
May 16, 2008
Messages
8,055
Just applied for bond and was told that as long as you have any account with FNB (apparently it doesnt matter what type of account), you get the 0.25% off.

Must be new because I didnt have it on my 2 previous bonds (about 1.5 years old)
On the RMB letter they said it was a specific RMB benefit
 

Dames

Senior Member
Joined
Mar 27, 2009
Messages
647
I don't suppose anyone knows if it's possible to request a different Private Banker with FNB PW? Our banker is really not great, not sure what else to do...
 

Crowley

Executive Member
Joined
Jun 9, 2006
Messages
7,049
I don't suppose anyone knows if it's possible to request a different Private Banker with FNB PW? Our banker is really not great, not sure what else to do...
Yes you can. I requested a new banker after my previous one was worthless.
 

zerocool2009

Executive Member
Joined
Sep 4, 2009
Messages
6,584
Email the private leg ceo... requesting it...

You are paying their salaries! So if you are unhappy, gooi toys
 

the eskimo

Senior Member
Joined
Nov 5, 2007
Messages
505
I'm curious... How many of you on PW have that regular interaction with your banker? I had a 1-on-1 with my banker once. But apart from that, all my day-to-day banking needs (when I need to speak to a human), I just call the PW service suite (who are excellent, I might add).
 

Charlie600

Well-Known Member
Joined
May 24, 2013
Messages
133
Stop wasting your time, move to Investec (for pretty much the same monthly rate) and you not only get a proper banker, but also a proper one stop banking) shop (referring to FNB PW, don't however have RMB experience) so cannot comment on that).

I got so fed up with FNB PW given that despite the alleged prestige and hotshot banker, you still have to engage with different stakeholders and divisions for home loan, vehicles, banking etc. Having to only engage with a switched on banker for any banking related aspect makes the world's difference, whilst the 24/7 call centre is also perfect for transacting and requiring additional support whilst travelling through multiple time zones.

And yes, I did become an Investec groupie after realising how silly we were for paying "prestige fees" and getting run of the mil service, compared to what the experience should in fact entail...! :)
 

ele33

Expert Member
Joined
Aug 16, 2012
Messages
1,142
Really depends, the last few Private Bankers I've had were all quite good and resolved any issues, luckily there weren't many.
eBucks related queries I would resolve directly with eBucks as I don't feel its really the role of a private banker.

When compared to Investec the rewards don't compare. With eBucks you earn back your monthly bank charges and then some. Whereas my colleagues on Investec tell me about the voucher they can get once in a while.
 

shadow_man

Executive Member
Joined
May 27, 2005
Messages
5,473
I tried to move to Investec, but they wouldn't beat FNB's rates - so I gave up.

FNB offered -1.15% on prime for home loans AND covered the attorney fee's etc.

Investec offered -1.00% on prime AND wanted ME to pay the attorney fee's. (+-R30k)
 

Gtx Gaming

Gtx Gaming
Joined
Aug 25, 2008
Messages
22,486
I tried to move to Investec, but they wouldn't beat FNB's rates - so I gave up.

FNB offered -1.15% on prime for home loans AND covered the attorney fee's etc.

Investec offered -1.00% on prime AND wanted ME to pay the attorney fee's.
Through investec does prime -1.00% on anything basically.

They even do car finance and credit cards at minus prime, with fnb you will find it hard to get credit card at minus prime.
 

shadow_man

Executive Member
Joined
May 27, 2005
Messages
5,473
Through investec does prime -1.00% on anything basically.

They even do car finance and credit cards at minus prime, with fnb you will find it hard to get credit card at minus prime.

Cars paid off - and in my case Investec didn't want to meet or beat FNB.

That + the attorney fee's / loss of eBucks made it a no brainer and meant that a move wasn't possible.
 

Charlie600

Well-Known Member
Joined
May 24, 2013
Messages
133
Cars paid off - and in my case Investec didn't want to meet or beat FNB.

That + the attorney fee's / loss of eBucks made it a no brainer and meant that a move wasn't possible.

Not sure about your personal circumstances so can't comment on the specifics. Our cars were however also both paid off but the rate that we got for our bond when moving over from PW offset the ebucks being forfeited, whilst also "paying for" for the attorney fees within the first year. And to be fair, we had some motivation to try something new as well, following a couple of truly atrocious experiences had with PW and their attempt at a high level private banker interaction.
 

fruitbat

Expert Member
Joined
Feb 24, 2008
Messages
1,362
I'm curious... How many of you on PW have that regular interaction with your banker? I had a 1-on-1 with my banker once. But apart from that, all my day-to-day banking needs (when I need to speak to a human), I just call the PW service suite (who are excellent, I might add).
I don’t call the suite. I email my banker and his side kick. And they always respond. Sometime the following day. Anything I escalate, gets handled. With that said, seldom have issues requiring contact. Also had a call from the sidekick once making suggestions on the recent FNBy accounts I had opened and changes I could make to better benefit kids. Over all very happy with services.
 

JV_011_

Senior Member
Joined
Sep 13, 2012
Messages
648
I tried to move to Investec, but they wouldn't beat FNB's rates - so I gave up.

FNB offered -1.15% on prime for home loans AND covered the attorney fee's etc.

Investec offered -1.00% on prime AND wanted ME to pay the attorney fee's. (+-R30k)

They do cover bond registration cost currently. They dont however pay for transfer duties.
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Speedster

Honorary Master
Joined
May 2, 2006
Messages
14,941
Stop wasting your time, move to Investec (for pretty much the same monthly rate) and you not only get a proper banker, but also a proper one stop banking) shop (referring to FNB PW, don't however have RMB experience) so cannot comment on that).

I got so fed up with FNB PW given that despite the alleged prestige and hotshot banker, you still have to engage with different stakeholders and divisions for home loan, vehicles, banking etc. Having to only engage with a switched on banker for any banking related aspect makes the world's difference, whilst the 24/7 call centre is also perfect for transacting and requiring additional support whilst travelling through multiple time zones.

And yes, I did become an Investec groupie after realising how silly we were for paying "prestige fees" and getting run of the mil service, compared to what the experience should in fact entail...! :)
Will Investec pay me R3000pm to bank with them?
 
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