FNB Private to RMB Private - worth it?

T

Tokolosk

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Today I got offered by FNB to move to RMB Private for an extra R100/month.

Most of my money is managed with the help of a personal financial adviser - I only use my FNB account for home loan, daily living transactions and e-bucks - all the rest goes to non-FNB accounts.

Does anyone have experience or a compelling reason why the extra R100 is worth it at RMB. This brings up banking fees to R500/month. My e-bucks covers this twice over, but still.
 
You do get special investment offers with RMB that you don't get with FNB. Other than that I found it to be pretty much the same.
 
Just to have a fair comparison, do compare the offer to Investec as well. We moved from FNB Private Wealth to Investec a couple of years and was so happy with the service and structured options that we ended up moving our bond to Investec as well (and still saved despite the moving fees).
 
Charlie600 said:
Just to have a fair comparison, do compare the offer to Investec as well. We moved from FNB Private Wealth to Investec a couple of years and was so happy with the service and structured options that we ended up moving our bond to Investec as well (and still saved despite the moving fees).
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What kind of rates does Investec offer on bonds? I know vehicle is currently around prime -1%.
 
I recently did the same excersize but PC to PW.

You can earn more ebucks to offset the extra monthly cost, other than that it was pretty much the same
 
Tman* said:
I recently did the same excersize but PC to PW.

You can earn more ebucks to offset the extra monthly cost, other than that it was pretty much the same
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I am looking to do the same but my banker says I don't yet qualify. We're you offered the upgrade or did you request it?
 
Tman* said:
I recently did the same excersize but PC to PW.

You can earn more ebucks to offset the extra monthly cost, other than that it was pretty much the same
Click to expand...

I'm considering this at the moment. Has it been worth it? Are you scoring a profit over PC with the increased ebucks?

Another benefit is use of the international departure lounge at CT airport which is only available to PW, so that would also add real value as I fly from there a few times a year.

Hmm, might just have talked myself into it :p
 
Rosso said:
I am looking to do the same but my banker says I don't yet qualify. We're you offered the upgrade or did you request it?
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For me the offer to upgrade is on the landing page when I open the FNB app.
 
Rosso said:
I am looking to do the same but my banker says I don't yet qualify. We're you offered the upgrade or did you request it?
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Was offered, but don't get fooled by the "exclusively" claim.

As mentioned you can earn more ebucks, but only marginally and u have to jump through extra hoops. I m still on the fence, haven't decided yet.
 
Tman* said:
Was offered, but don't get fooled by the "exclusively" claim.

As mentioned you can earn more ebucks, but only marginally and u have to jump through extra hoops. I m still on the fence, haven't decided yet.
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What did you decide? I'm sitting on this same fence and not sure whether to go RMB or FNB...
 
Speedster said:
What did you decide? I'm sitting on this same fence and not sure whether to go RMB or FNB...
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I took the plunge, my CC rate was reduced dramatically.

I didnt change at the best of times, as my monthly spend was very low during lockdown compared to other months. I am hoping to have a "normal" month in June.
 
Tman* said:
I took the plunge, my CC rate was reduced dramatically.

I didnt change at the best of times, as my monthly spend was very low during lockdown compared to other months. I am hoping to have a "normal" month in June.
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CC interest rate is irrelevant to me as I don't plan (hope) to ever actually pay interest on a CC. Did you switch to RMB, or FNB PW?
 
Speedster said:
CC interest rate is irrelevant to me as I don't plan (hope) to ever actually pay interest on a CC. Did you switch to RMB, or FNB PW?
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Likewise on the interest part;

Went PW
 
Was just offered RMB Fusion account - currently on Private Clients (with a Fusion account).

I don't really see a difference in terms of costs, and then I can see that I can earn more ebucks but also need a higher point status.

EDIT: Currently have a home-loan at FNB, is there any chance that RMB could give me a better rate?
 
ebendl said:
Was just offered RMB Fusion account - currently on Private Clients (with a Fusion account).

I don't really see a difference in terms of costs, and then I can see that I can earn more ebucks but also need a higher point status.

EDIT: Currently have a home-loan at FNB, is there any chance that RMB could give me a better rate?
Click to expand...

RMB does 1-accounts or structured lending related to bonds. (Meaning, you can buy property over and over with the same bond).

I applied at PW ... and sadly I "simulate" a much lower interest rate that they offer. Taking the monthly fees into account, thats a bit steep. The eB might look rewarding, but then you need to spend alot

I am sticking on what I have currently (thanks but no thanks).
 
Tman* said:
I took the plunge, my CC rate was reduced dramatically.

I didnt change at the best of times, as my monthly spend was very low during lockdown compared to other months. I am hoping to have a "normal" month in June.
Click to expand...
What the rates that they gave you?
 
Everyone enjoying their move to RMB?

We downgraded from PW to Premier as there was so many hoops to jump through for eBucks etc. and the spend of course higher… ended up dropping from level 5 PW ebucks to level 4 and then staying level 4…. Arrrgghh.

With Premier we literally do nothing out of the ordinary and stay on level 5, could probably do the same on PC but all this moving up and down is painful. And new cards :/

Must admit the when you need something done it sucks to be on Premier. We had a lot better service on PW.

Would love to maybe just take the plunge and head to over RMB… would love to have some 2021 thoughts tho.

We have option to move to Investec with our company being JSE listed etc. but I have a loyalty for FNB and how they’ve been with me from my first year working.
 
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