FNB Private client vs Private wealth

r4nd0m

Senior Member
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Dec 29, 2016
Messages
533
So long as you average over R60K worth of deposits into your account p/m
What you say makes sense, but I've seen them up-sell to people who don't get nearly that much in.

Got to get them high fee paying customers!

Ohh you're a private client. You're special now! When can we deliver your new card? :ROFL:
 

JayM

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Oct 30, 2005
Messages
3,090
What you say makes sense, but I've seen them up-sell to people who don't get nearly that much in.

Got to get them high fee paying customers!

Ohh you're a private client. You're special now! When can we deliver your new card? :ROFL:

PC is R32500 p/m, PW is R60000 p/m. Keep in mind that even if you wangle a higher tier than your earnings should allow, if you don't meet these minimum deposits, then you don't qualify for ebucks at all, so definitely not worth it.
 

droidx

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Sep 24, 2011
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tiftfy. Also how much did you spend?
I don't get the fix. So the people on levels 1-3 are not benefitting from the rewards?
They pay their banking fees which go to overhead for the bank. If they have loans, they pay their interest which they would have elsewhere.
How do they subsidise the eBucks of others? Genuine question.

This is how I see it:

FNB uses eBucks to attract customers and keep them. This comes with other banking products too. That's why rules reward the use of other products, this is where FNB expands gets people into the system then reduces the reward on an annual basis or adjust the rules to facilitate a different behaviour.

No doubt you paying for it in some way, shape or form. Through your data, hooking yourself to FNB products, etc. It's not free so everyone has to weigh up the cost to them.

If you stand to earn multiples of your banking fee back without too much cost, then it works, if this is not true walk away.
 

r4nd0m

Senior Member
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Dec 29, 2016
Messages
533
I think he means high spend = high return with reward programs.

Both of you make sense, but you're at different ends of the market spectrum.

One spends less, has no/minimal debt, saves costs, etc... Reward program would cost them more and incur higher spending to cover the base costs.

The other spends more, has more debt products, more lifestyle perks, pays a higher fee but also gets higher returns from the reward program.
 

Hamster

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Aug 22, 2006
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37,458
If fees are your primary concern when it comes to paying for a service then going with a low fee product like Tyme and Capitec makes sense.

Lucky you if if you ever see or need the value in paying for a private account.
 

droidx

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Sep 24, 2011
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1,713
I think he means high spend = high return with reward programs.

Both of you make sense, but you're at different ends of the market spectrum.

One spends less, has no/minimal debt, saves costs, etc... Reward program would cost them more and incur higher spending to cover the base costs.

The other spends more, has more debt products, more lifestyle perks, pays a higher fee but also gets higher returns from the reward program.
100% agreed, hence the last line in my post. It won't work for all and if it doesn't work for you walk away.

My other point was, the level 2's and 3's would be paying that banking fees anyway, they likely not there for eBucks even though they might even out on their fees anyway (+/- R200).
The high earners are likely subsidised by their other products that they are paying for via interest or fees.
 

zerocool2009

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Sep 4, 2009
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Related to PW, except the R499 charge, what fees are waived related to savings/investments?
 

zerocool2009

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Sep 4, 2009
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Or it's R485 on Fusion PW IIRC. Can you rephrase the question please?

What perks do you get on PW?

I am reviewing to upgrade, my main drive is to see if they can beat my current bond rates.

Besides the possible bond rates, what other fees might be waived on PW...

Hope my question is more clear
 

Tman*

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Jul 18, 2012
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What perks do you get on PW?

I am reviewing to upgrade, my main drive is to see if they can beat my current bond rates.

Besides the possible bond rates, what other fees might be waived on PW...

Hope my question is more clear
R10k Checkers cap & free instant clear

Thats about it
 

Tman*

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Jul 18, 2012
Messages
3,955
Mmmm

So besides the little eb perk with higher caps, nothing more...
My CC rate reduced greatly, but seeing as I refrain from paying interest it makes no difference. Oh, and you can buy a R2000 voucher less 40% monthly as apposed to R1500

If you going to utilize the increased Checkers cap its worth it.
 

StrontiumDog

Honorary Master
Joined
Sep 2, 2006
Messages
10,437
What perks do you get on PW?
-snip-
To add to the other posters, the smart spend can be a factor. e.g. If you spend 10k on PC you get eb1500 back (20k gets you eb3000), if you spend 15k on PW you get eb3000 back. I'm spending 15k each month on PC, so on PW i'd get the eb3000 if i upgrade.
 

zerocool2009

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Sep 4, 2009
Messages
5,758
I am not really interested in credit cards as I make mine R0 per month.

I see also traditional homeloans is gone, its single facility vd 1account.

I do know the 1account was a mega fail on premier packages and was stopped

I contacted now PW, gave them the facts. I have reasonable good bond rates but want better.

So in short I asked them, see what they can offer me (looking past eb), i want pro’s and con’s to upgrade.
 

emptybruwer

Senior Member
Joined
Jul 8, 2008
Messages
536
I am not really interested in credit cards as I make mine R0 per month.

I see also traditional homeloans is gone, its single facility vd 1account.

I do know the 1account was a mega fail on premier packages and was stopped

I contacted now PW, gave them the facts. I have reasonable good bond rates but want better.

So in short I asked them, see what they can offer me (looking past eb), i want pro’s and con’s to upgrade.
I did he loan application, and it was done by PW. Documentation and the rest stated PW. So not sure why because I am on Premier acc because of the lower fees
 
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