FNB Private to RMB Private - worth it?

[SauRoNZA]

rewards here and there are all a gimmick

Only people who can’t get it right say this.

FNB literally pays me to bank with them. Therefore it would be way more expensive for me to go to a cheaper account or another bank.

To the tune of many thousands of rands a year.

That being said upgrading to a higher plan would see me earning less from them, so you need to find the balance.

 

[Snyper564]

Only people who can’t get it right say this.

FNB literally pays me to bank with them. Therefore it would be way more expensive for me to go to a cheaper account or another bank.

To the tune of many thousands of rands a year.

That being said upgrading to a higher plan would see me earning less from them, so you need to find the balance.

totally echo that.

Just between WW/Capitec and zero hoops and R100 in bank fees a month I knock R1500 out in rewards a month. I need to spend that a month anyway...

 

[Gtx Gaming]

I can finally say with my current banker that RMB is worth it, first time I actually have something good to say.

I had my bond approval the next day 9.45am.

The application was submmited via OOBA the prevous day at like 4pm.

The current banker also actually calls me to discuss finances and see what can be done to improve things.

 

[SamA34]

Does RMB have its own app or can you use the FNB app?

Also what change is there when you upgrade from your acc from FNB to RMB? New app? new account? must your current debit orders be changed from FNB to RMB?

 

[Sinbad]

Does RMB have its own app or can you use the FNB app?

Also what change is there when you upgrade from your acc from FNB to RMB? New app? new account? must your current debit orders be changed from FNB to RMB?

They're the same bank, just different skins. You can use the RMB app to log into your FNB profile (or at least you could when I was still a client)

 

[ace119]

They're the same bank, just different skins. You can use the RMB app to log into your FNB profile (or at least you could when I was still a client)

Yea you could log into RMB with FNB details a year or so back still... when I was still a client.

Same bank.. same issues unfortunately, thats why we ended up moving over to Investec.

 

[ace119]

Does RMB have its own app or can you use the FNB app?

Also what change is there when you upgrade from your acc from FNB to RMB? New app? new account? must your current debit orders be changed from FNB to RMB?

RMB does have their own app and their own website (

Home

Manage, protect and grow your wealth with RMB Private Bank. Distinguished by our traditional values and innovative ideas we have adapted investment banking solutions to manage your wealth and legacy, available 24/7 through our online banking channel.

www.rmbprivatebank.com

)... dont try "upgrade" from FNB to RMB.. as for me a few years back that just created a new bank account and new account number - which I didnt want.

Email RMB ([email protected]) and request an upgrade from your FNB account to RMB - so that your account number stays the same, no need to move/ change debit orders. Strangely enough depending on what credit facilities you have they get re-opened under RMB on your credit profile and the related FNB one is "closed" but the account numbers are duplicate.. strange. So for a good couple months it showed that I had double the available credit facilities.. which was bizarre.

Anyways you can read further back on this forum for the feedback I provided on our journey.

Goodluck.

 

[SamA34]

RMB does have their own app and their own website (

Home

Manage, protect and grow your wealth with RMB Private Bank. Distinguished by our traditional values and innovative ideas we have adapted investment banking solutions to manage your wealth and legacy, available 24/7 through our online banking channel.

www.rmbprivatebank.com

)... dont try "upgrade" from FNB to RMB.. as for me a few years back that just created a new bank account and new account number - which I didnt want.

Email RMB ([email protected]) and request an upgrade from your FNB account to RMB - so that your account number stays the same, no need to move/ change debit orders. Strangely enough depending on what credit facilities you have they get re-opened under RMB on your credit profile and the related FNB one is "closed" but the account numbers are duplicate.. strange. So for a good couple months it showed that I had double the available credit facilities.. which was bizarre.

Anyways you can read further back on this forum for the feedback I provided on our journey.

Goodluck.

Thank you for your feedback.

You gave me valuable info to think about. I have been with FNB for many years and like their ebucks programme. As long it will be a seamless process and all my account numbers stay the same, then I think I am happy to move to RMB.

I will look into the RMB app. I got so used to the FNB app over the last few years.

I also dont want my ebucks account to loose the current accumlated ebucks. So everything must stay the same, other than the account name from FNB to RMB.

 

[ace119]

Thank you for your feedback.

You gave me valuable info to think about. I have been with FNB for many years and like their ebucks programme. As long it will be a seamless process and all my account numbers stay the same, then I think I am happy to move to RMB.

I will look into the RMB app. I got so used to the FNB app over the last few years.

I also dont want my ebucks account to loose the current accumlated ebucks. So everything must stay the same, other than the account name from FNB to RMB.

I had the same thoughts... but just kept getting diverted back to FNB for queries and their "Support" people in the related departments. Got fed up with this.. why cant the banker just sort out all your queries in the background and be your only point of contact - instead of passing you along.. anyways - like the web and app.. feels like RMB is just a "skin" for FNB so no real benefits if you were unhappy with FNB. If you're happy with FNB, then I suppose the move will be okay for you..

Regarding the app it looks and works the same, just different colour scheme - so you will have no issue transitioning from FNB to RMB app.. same with Web Login.

What is your reason for wanting to move to RMB vs staying at FNB? (Mine was better support and interest rates etc. and that was a total failure).

Edit:
*Regrading the ebucks.. nothing changed for me - but just query that (with everything else) in your email you send for the transition.

**Also because you setup a eft payment to FNB or RMB by selecting "FNB/ RMB" even people who have you saved as an existing beneficiary dont need to update any details to pay you.

 

[SamA34]

I had the same thoughts... but just kept getting diverted back to FNB for queries and their "Support" people in the related departments. Got fed up with this.. why cant the banker just sort out all your queries in the background and be your only point of contact - instead of passing you along.. anyways - like the web and app.. feels like RMB is just a "skin" for FNB so no real benefits if you were unhappy with FNB. If you're happy with FNB, then I suppose the move will be okay for you..

Regarding the app it looks and works the same, just different colour scheme - so you will have no issue transitioning from FNB to RMB app.. same with Web Login.

What is your reason for wanting to move to RMB vs staying at FNB? (Mine was better support and interest rates etc. and that was a total failure).

Edit:
*Regrading the ebucks.. nothing changed for me - but just query that (with everything else) in your email you send for the transition.

**Also because you setup a eft payment to FNB or RMB by selecting "FNB/ RMB" even people who have you saved as an existing beneficiary dont need to update any details to pay you.

Purely for ebucks. The requirements are lower than PW, and planning to buy some devices to benefit from the R24k device reward.

Don't care much for interest rates, as we got that covered from Investec's side and that banker is gold.

 

[W@P]

Only people who can’t get it right say this.

FNB literally pays me to bank with them. Therefore it would be way more expensive for me to go to a cheaper account or another bank.

To the tune of many thousands of rands a year.

That being said upgrading to a higher plan would see me earning less from them, so you need to find the balance.

100% this.

I am on FNB PC iirc. Next step up is Private Wealth afaik.
They have been begging me to move up. But as far as I'm concerned PC is the sweet spot regarding e-bucks. I could be wrong. I am on level 5 constantly. Without any funny business.

So I am not moving. They are offering me R400k CC limit increase. Get lost. The CC limit I currently have is sufficient to cover as much of my spending as possible. And of course, I settle it each month.

At the moment, I have 16 accounts on my dashboard. Balls deep with FNB.

 

[SamA34]

100% this.

I am on FNB PC iirc. Next step up is Private Wealth afaik.
They have been begging me to move up. But as far as I'm concerned PC is the sweet spot regarding e-bucks. I could be wrong. I am on level 5 constantly. Without any funny business.

So I am not moving. They are offering me R400k CC limit increase. Get lost. The CC limit I currently have is sufficient to cover as much of my spending as possible. And of course, I settle it each month.

At the moment, I have 16 accounts on my dashboard. Balls deep with FNB.

You are "deep" in bed with FNB

 

[SamA34]

100% this.

I am on FNB PC iirc. Next step up is Private Wealth afaik.
They have been begging me to move up. But as far as I'm concerned PC is the sweet spot regarding e-bucks. I could be wrong. I am on level 5 constantly. Without any funny business.

So I am not moving. They are offering me R400k CC limit increase. Get lost. The CC limit I currently have is sufficient to cover as much of my spending as possible. And of course, I settle it each month.

At the moment, I have 16 accounts on my dashboard. Balls deep with FNB.

They are loco with their CC interest rates. Just use what you need. I always reduce the limit to my need.

 

[ace119]

Purely for ebucks. The requirements are lower than PW, and planning to buy some devices to benefit from the R24k device reward.

Don't care much for interest rates, as we got that covered from Investec's side and that banker is gold.

Yea i highlighted the requirements being lower for RMB vs FNB PW in an earlier post. Pretty much the same as FNB PC if i remember correctly.

But now you have the cost of additional private banking fees (both RMB and Investec) to deal with… seems like too much of a hassle and cost.

 

[Sinbad]

They are loco with their CC interest rates. Just use what you need. I always reduce the limit to my need.

Not what I found.
My UK credit card's interest rate is 5x what my FNB PW card was set at.

 

[TedLasso]

Was interesting to read this from the post 1. I didn't realise this thread started 6 years ago, but the first posts felt relevant today too.

Am on PC with FNB. Debating now moving to RMB or Investec (where I think I can qualify) and just to be done with FNB in total as I will be moving out of country, so the ebucks game will stop and it's been a fabulous ride of about R3.5K in value back,

We will be keeping the home loan and renting the place out. With FNB, it's prime - 0.75% on a bond that's 50% of the property value.

The Investec guy tells me they can take over my HL and pay the costs and maybe offer Prime -1%. They can open a UK bank account for me from here. I can possibly then consolidate my very dormant UK bank accounts to the Investec UK account. Means less to manage going forward.

How is RMB's Private banking service? I just need that if something needs to be done, it will be done without me spending hours on secure chat, etc. This is where Investec is piquing my curiosity because apparently their service is top notch. Also once we are fully moved, they can move us to a digital only package (no physical cards) and that costs about R400 a month.

RMB seems to win for now, since all my accounts and HL move to RMB without much changes happening on my side, but if their service is as **** as FNB, not worth it.

 

[Gtx Gaming]

Was interesting to read this from the post 1. I didn't realise this thread started 6 years ago, but the first posts felt relevant today too.

Am on PC with FNB. Debating now moving to RMB or Investec (where I think I can qualify) and just to be done with FNB in total as I will be moving out of country, so the ebucks game will stop and it's been a fabulous ride of about R3.5K in value back,

We will be keeping the home loan and renting the place out. With FNB, it's prime - 0.75% on a bond that's 50% of the property value.

The Investec guy tells me they can take over my HL and pay the costs and maybe offer Prime -1%. They can open a UK bank account for me from here. I can possibly then consolidate my very dormant UK bank accounts to the Investec UK account. Means less to manage going forward.

How is RMB's Private banking service? I just need that if something needs to be done, it will be done without me spending hours on secure chat, etc. This is where Investec is piquing my curiosity because apparently their service is top notch. Also once we are fully moved, they can move us to a digital only package (no physical cards) and that costs about R400 a month.

RMB seems to win for now, since all my accounts and HL move to RMB without much changes happening on my side, but if their service is as **** as FNB, not worth it.

RMB service depends on banker, took me a few bankers to get one thats not useless. Current one is best one, he actually answers the phone if you call him.

 

[SamA34]

I see there is a huge price difference between the RMB pay as you use account and the RMB Fusion. Does anyone use the PAYU option and still qualify for eBucks?

 

[ace119]

Was interesting to read this from the post 1. I didn't realise this thread started 6 years ago, but the first posts felt relevant today too.

Am on PC with FNB. Debating now moving to RMB or Investec (where I think I can qualify) and just to be done with FNB in total as I will be moving out of country, so the ebucks game will stop and it's been a fabulous ride of about R3.5K in value back,

We will be keeping the home loan and renting the place out. With FNB, it's prime - 0.75% on a bond that's 50% of the property value.

The Investec guy tells me they can take over my HL and pay the costs and maybe offer Prime -1%. They can open a UK bank account for me from here. I can possibly then consolidate my very dormant UK bank accounts to the Investec UK account. Means less to manage going forward.

How is RMB's Private banking service? I just need that if something needs to be done, it will be done without me spending hours on secure chat, etc. This is where Investec is piquing my curiosity because apparently their service is top notch. Also once we are fully moved, they can move us to a digital only package (no physical cards) and that costs about R400 a month.

RMB seems to win for now, since all my accounts and HL move to RMB without much changes happening on my side, but if their service is as **** as FNB, not worth it.

We have the t-shirt.. close everything you have with the Firstrand Group and run.

Wish we moved to Investec sooner!

 

[ace119]

It wasn’t worth it… we left RMB and the FirstRand Group, the bankers just disappeared - they wouldn’t assist with interest rates or restructuring some debt to secure better rates or nothing really. They only responded to emails if we followed up; otherwise, they simply ignored them. 95% of the products you receive or request are FNB-branded anyway... The bankers just bounce you between different areas of the business to get you answers - when or if you even get them… it’s all a mystery.

The move to Investec was a bit rocky at first, as our banker went on leave halfway through the process. But after the switch, I couldn’t be happier - should’ve done it sooner. The bankers handle everything behind the scenes, gather all the necessary information, and then get back to you - no unnecessary back-and-forth between departments. They actually pay attention and accommodate your requests.

I also moved to AON, getting more cover while saving just over R1,000 a month. The reason I chose AON over PPS is that I earn points towards my Investec rewards, which I figured would benefit us more in the long run… I suppose I need to still make time to get a quote from PPS tho! Just to make sure we’re getting a great rate.

Here’s the Investec thread for anyone interested: https://mybroadband.co.za/forum/index.php?threads/Investec.1213293/

Update on AON…

I followed up with our banker, and it seems you don’t get rewards points back from all AON insurance policies - only from the older AON “Pinion” policies, which I don’t think they offer anymore. Those were policies brokered by Investec but underwritten by AON.

So, it’s probably worth getting quotes from both AON and PPS. For us - like I mentioned - we’re already saving on our monthly premium after moving to AON, just missing out on the rewards I thought we were going to get.

Be prepared, though…! I have no idea how, in 2025, companies still expect you to fill out 30 to 40 pages just to move your insurance across. It seems AON is still stuck in the dark ages in that regard.