FNB Private client vs Private wealth

J

jsheed_sa

Executive Member
Joined
May 27, 2005
Messages
5,358
FNB's offering me to move to PW - but I don't really see any obvious benefits over PC (where i'm currently just scraping level 5 most months).

Waiting for the eBucks rules change to be announce in June, before I potentially bother to make the jump.

Also - what's the point of the metal card? Seems silly?
 
R

rvZA

Expert Member
Joined
Jan 3, 2021
Messages
2,292
No matter what package you are on at FNB, you get treated the same whether you live in a shack earning R250 a month or whether you live in a billion Rand house earning R150m a month. If you have a problem you end up in endless queues at the bank. If you call a call center you wait hours on the line. If you send an email it takes them weeks to answer you. Been there, done that. Stay on the lowest package available to save on banking costs. The advantages are too few to go to so-called "Private", "Wealth", "Exclusive" etc., packages. They are all a scam to make more money from you with the least expenses to the bank.
 
Crowley

Crowley

Executive Member
Joined
Jun 9, 2006
Messages
6,847
jsheed_sa said:
FNB's offering me to move to PW - but I don't really see any obvious benefits over PC (where i'm currently just scraping level 5 most months).

Waiting for the eBucks rules change to be announce in June, before I potentially bother to make the jump.

Also - what's the point of the metal card? Seems silly?
Click to expand...
The same as driving a car that can do more than the speed limit. Nice to have.

rvZA said:
No matter what package you are on at FNB, you get treated the same whether you live in a shack earning R250 a month or whether you live in a billion Rand house earning R150m a month. If you have a problem you end up in endless queues at the bank. If you call a call center you wait hours on the line. If you send an email it takes them weeks to answer you. Been there, done that. Stay on the lowest package available to save on banking costs. The advantages are too few to go to so-called "Private", "Wealth", "Exclusive" etc., packages. They are all a scam to make more money from you with the least expenses to the bank.
Click to expand...

You've never had a private banker, have you?

rvZA said:
Its "Fools Gold", its just a commercial company hoping to con the stupid segment of the rich and make some more money off them.
Click to expand...

Depending on your ebucks level you don't pay for the metal card so try again.
 
J

jsheed_sa

Executive Member
Joined
May 27, 2005
Messages
5,358
rvZA said:
No matter what package you are on at FNB, you get treated the same whether you live in a shack earning R250 a month or whether you live in a billion Rand house earning R150m a month. If you have a problem you end up in endless queues at the bank. If you call a call center you wait hours on the line. If you send an email it takes them weeks to answer you. Been there, done that. Stay on the lowest package available to save on banking costs. The advantages are too few to go to so-called "Private", "Wealth", "Exclusive" etc., packages. They are all a scam to make more money from you with the least expenses to the bank.
Click to expand...

Not my experience at all.

Since moving up the levels I've had:

a) a private banker who assists when emailed (I never call)
b) bond rates that beat Investec (5.85%).
c) CC rate of 7.00%
d) I email my banker and he sorts out my query within a day - no call centre or holding, at all.

I never had those on the lower tiers.
 
StrontiumDog

StrontiumDog

Honorary Master
Joined
Sep 2, 2006
Messages
10,437
rvZA said:
No matter what package you are on at FNB, you get treated the same whether you live in a shack earning R250 a month or whether you live in a billion Rand house earning R150m a month. If you have a problem you end up in endless queues at the bank. If you call a call center you wait hours on the line. If you send an email it takes them weeks to answer you. Been there, done that. Stay on the lowest package available to save on banking costs. The advantages are too few to go to so-called "Private", "Wealth", "Exclusive" etc., packages. They are all a scam to make more money from you with the least expenses to the bank.
Click to expand...
Perhaps you were just unlucky, but since I Ieft Gold back in 2014 I've only been into a branch once in 7 years and they have always gotten back to me in a timely manner. Of course over time they then degrade tiers further and one is forced to move up if one wants a better level of service or offerings that the higher tiers present.
 
Tman*

Tman*

Expert Member
Joined
Jul 18, 2012
Messages
3,956
rvZA said:
No matter what package you are on at FNB, you get treated the same whether you live in a shack earning R250 a month or whether you live in a billion Rand house earning R150m a month. If you have a problem you end up in endless queues at the bank. If you call a call center you wait hours on the line. If you send an email it takes them weeks to answer you. Been there, done that. Stay on the lowest package available to save on banking costs. The advantages are too few to go to so-called "Private", "Wealth", "Exclusive" etc., packages. They are all a scam to make more money from you with the least expenses to the bank.
Click to expand...
There is a dedicated thread for you here: https://mybroadband.co.za/forum/threads/so-i-went-to-capitec.694410/
 
R

rvZA

Expert Member
Joined
Jan 3, 2021
Messages
2,292
Tman*

Tman*

Expert Member
Joined
Jul 18, 2012
Messages
3,956
rvZA said:
Nah, thanks. Happy with FNB. Been a client for 15 years, most of which a private client. Contacted my private banker probably less than 5 times all these years, never got a reply within a week. Perhaps I do not earn quite enough per month to justify the type of service levels described here by some.
Click to expand...
coming from a private client for close to 15 years, but advising us to stay on the lowest package available to save on banking cost - LMFAO :ROFL:
 
R

rvZA

Expert Member
Joined
Jan 3, 2021
Messages
2,292
Tman* said:
coming from a private client for close to 15 years, but advising us to stay on the lowest package available to save on banking cost - LMFAO :ROFL:
Click to expand...

Just saying what I am experiencing.... definitely not worth the fees. But, hey, your money, your account. If it makes you feel good and important, who am I to complain?
 
StrontiumDog

StrontiumDog

Honorary Master
Joined
Sep 2, 2006
Messages
10,437
rvZA said:
Nah, thanks. Happy with FNB. Been a client for 15 years, most of which a private client. Contacted my private banker probably less than 5 times all these years, never got a reply within a week. Perhaps I do not earn quite enough per month to justify the type of service levels described here by some.
Click to expand...
Ask to change bankers, that's not acceptable service. Unfortunately some of them are not up to par in terms of their service levels or knowledge.

PC should still be good levels of service, I don't know how Premier is faring these days given that it's now a pool of bankers that see to you. Forget Gold, I've been trying to change my old man's residential address for a few years now and eventually they tell me I need to take him into a branch. Via PC all it took was an email to do it.
 
Tman*

Tman*

Expert Member
Joined
Jul 18, 2012
Messages
3,956
rvZA said:
Just saying what I am experiencing.... definitely not worth the fees. But, hey, your money, your account. If it makes you feel good and important, who am I to complain?
Click to expand...
I couldn't care less if the card is made from toilet paper TBH. The only thing I do care about is FNB paying me (via ebucks) to bank with them.

As luck might have it I they pay me the most on PW. Your "Stay on the lowest package available to save on banking costs" argument is flawed.
 
F

fruitbat

Expert Member
Joined
Feb 24, 2008
Messages
1,339
I like my PW account. Perks are great. Thresholds on ebucks are better. Service is great. Banker or their assistant looks after me. Even get calls from them telling me I could tweak something which benefits me. Eg. My kids bank accounts.
I guess I could cut back, but when I do need to travel again that pays for itself quickly.
I will say, the metal card does look cool :) and I would like it - I replace my cards often due to my “minimalistic” wallet.
 
S

Se@n

Senior Member
Joined
Sep 30, 2013
Messages
867
fruitbat said:
I like my PW account. Perks are great. Thresholds on ebucks are better. Service is great. Banker or their assistant looks after me. Even get calls from them telling me I could tweak something which benefits me. Eg. My kids bank accounts.
I guess I could cut back, but when I do need to travel again that pays for itself quickly.
I will say, the metal card does look cool :) and I would like it - I replace my cards often due to my “minimalistic” wallet.
Click to expand...

I’m with you, generally speaking it’s a nice to have and works quite well and on eB level 5 it does pay quite well too. Metal card is cool, nice to see our local banks catching up with their international counterparts. Necessary.. No.. but neither is private banking. we pay for what we get.
 
StrontiumDog

StrontiumDog

Honorary Master
Joined
Sep 2, 2006
Messages
10,437
What's in it for FNB to get us to take up the offer of these metal cards? Do they just want us to have something new and shiny to show off with? Brand engagement to foster loyalty?
 
M

Meister-Man

Expert Member
Joined
Apr 20, 2017
Messages
1,015
StrontiumDog said:
What's in it for FNB to get us to take up the offer of these metal cards? Do they just want us to have something new and shiny to show off with? Brand engagement to foster loyalty?
Click to expand...
Who knows..
Last month it was a virtual card, now it's a metal card.
Bets for what's next?
 
You must log in or register to reply here.
Top