Is FNB losing the plot.

IIRC some shops dont allow withdrawing using a Cheque Cards on the tills, they only allows debit cards.

Will test and confirm
 
ChocolateBadger said:
Yeah but I have debtaphobia :p I'm just one of those people who just pay when they can afford. If I want something nice like...a new pc for example, I take that money out of savings. I'm anything but careless with money. I budget my monthly expense with room for unexpected things so I really don't need to use my credit.
My credit card is simply just for emergency.

It just works for me but I understand how you guys do it.
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I hear what u are saying, but I was only inclined to think that way when i first started working many years ago and I didn't know how to make the banking system work to my benefit.

If u r disciplined and u make sure that u never spend more credit on your credit card than u have in your savings account, there shouldnt be any danger... </famous last words> :p

Plus, u (as the consumer) don't pay transaction fees on credit cards. Debit and cheque card transactions you do, if I am not mistaken?

edit: Granted there are some things one should not use one's credit card for because they attract interest charges immediately as they are exempt from the 55 day interest free period. I've been using my credit card for everything lately (wanting to channel my spending through it to get enough points for 15% off fuel purchases), but I'm going to stop with the prepaid electricity purchases as it seems to as it seems to be one of the culprits that don't have an interest free period. Also paid a traffic fine from ccard, another no no it seems (3rd party payments incur a R7.20 fee). And of course never draw cash from your ccard, a definite no no! I reckon we should hound the FNB online banking team to display in red text actions that attract extra fees. Going to tweet @rbjacobs and see if they take notice.

edit2: After doing some reading I realised I totally misunderstood how FNB Reward points work for their credit cards. I have now figured out how to get 15% off fuel purchases on my cheque card. Just have to do some of the things mentioned here, though it will take a few months to accumulate the FNB reward points. I'll then be able to tone it down a notch in terms of pointlessly directing all spending through my credit card :p I guess FNB is still tops for the average Joe, but u gotta know how to work the system :)
 
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ryan411 said:
To credit card naysayers: It makes sense to rather use a credit card because expenses can vary on a monthly basis. Just make sure you settle up in full on the payment due date. The only con I suppose might be that we are driving prices up indirectly because the credit card companies get their cut of each transaction, but that is another debate I suppose.
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I'm pretty sure they charge the shops a fee for debit card transactions too.

ChocolateBadger said:
In this day an age I stay far away from my credit card. I keep all the money I want to spend in my cheque account and dump the rest into their respective savings accounts. Last thing I wanna do is spend money I don't have.
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Change your credit limit. The limit should be no more than you're able to pay by the due date.

lucifir said:
what is the difference between a cheque and a debit card??
don't they both have the chip and pin these days?? so no real difference??
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There shouldn't be, no. It could be that the shops are seeing the label on the card and refusing it on that basis. I know people had the same issue when Visa and Mastercard made debit cards work the same as credit cards - shops would refuse them saying they only accepted credit cards when in fact the machines could process either. When these people insisted the shop try the card it did work.
 
Ecco said:
If you can keep R9K in your account - look at the fee saver pricing - you will bank for free!
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Unfortunately, that don't apply to me, as i found out today,as I am on the unlimited option.But from next month my unlimited will come down to 6."The bank that gives you more"
 
@greenbean, sorry I don't follow u :confused:. Anyways, u can change to fee-saver unless u r stuck on unlimited option due to taking the smartphone or tablet deal from FNB??
 
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ryan411 said:
@greenbean, sorry I don't follow u :confused:. Anyways, u can change to fee-saver unless u r stuck on unlimited option due to taking the smartphone or tablet deal from FNB??
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As Ecco said ,that if you keep more than 9k in the bank ,you bank for free ,but then you pay for each and every transaction you make.
Which is not going to work for me.Rather stay on the "unlimted" option.
 
greenbean32 said:
As Ecco said ,that if you keep more than 9k in the bank ,you bank for free ,but then you pay for each and every transaction you make.
Which is not going to work for me.Rather stay on the "unlimted" option.
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No, u pay nothing, not even for transactions made during the month. Unless as noxious points out, ur balance drops below 9k within a particular month. In that situation, you would pay for each and every transaction.
 
I'm also in the fee-saver option. If your balance is above R9000 for the month, you pay no service fees or monthly fees. You bank for free. It's worth it!
 
peeryus said:
I'm also in the fee-saver option. If your balance is above R9000 for the month, you pay no service fees or monthly fees. You bank for free. It's worth it!
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not quite true ... as there is a limit on the transactions (think 30 in total)
 
lucifir said:
not quite true ... as there is a limit on the transactions (think 30 in total)
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True. It's 35. So as long as u do less than 35 transactions per month and have more than R9000 in your account throughout the month, it's basically free. Abit of planning invlolved.
 
lucifir said:
not quite true ... as there is a limit on the transactions (think 30 in total)
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peeryus said:
True. It's 35. So as long as u do less than 35 transactions per month and have more than R9000 in your account throughout the month, it's basically free. Abit of planning invlolved.
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The 35 transaction limit is on the old pricing. On the new pricing it does not apply. I called my banker and confirmed this before asking to be swapped to the fee saver option. On the pricing sheet it states "Unlimited Qualifying electronic transactions - Qualifying transactions are indicated with ^"
 
Ecco said:
The 35 transaction limit is on the old pricing. On the new pricing it does not apply. I called my banker and confirmed this before asking to be swapped to the fee saver option. On the pricing sheet it states "Unlimited Qualifying electronic transactions - Qualifying transactions are indicated with ^"
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Correct Ecco. Now to accumulate some eBucks and move up the tiers. Fee Saver really is worth it. Btw does having a platinum account improve your chances on getting a good interest rate on a home or vehicle loan?
 
peeryus said:
Correct Ecco. Now to accumulate some eBucks and move up the tiers. Fee Saver really is worth it. Btw does having a platinum account improve your chances on getting a good interest rate on a home or vehicle loan?
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In my opinion if you can use the fee saver option i cant see why would bank anywhere else - its banking for free!

I don't think being on platinum helps with interests rates for loans of any sort.
 
peeryus said:
Correct Ecco. Now to accumulate some eBucks and move up the tiers. Fee Saver really is worth it. Btw does having a platinum account improve your chances on getting a good interest rate on a home or vehicle loan?
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don't think being on platinum helps with anything other than slow lounge access and being able to earn more ebucks ... so if you on fee saver, then rather be on platinum for the higher ebucks and slow lounge(if thats ur thing) :)
 
the SO currently has a Gold Cheque account.

with these differences that come into effect from 01 July, how much difference is there really

I dont know if she swipes more than she draws cash, all I know is that she uses the ebucks for petrol. But now you earn less ebucks? :confused:
 
techead said:
the SO currently has a Gold Cheque account.

with these differences that come into effect from 01 July, how much difference is there really

I dont know if she swipes more than she draws cash, all I know is that she uses the ebucks for petrol. But now you earn less ebucks? :confused:
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The problem with using eBucks to buy fuel is that you won't get your Fuel Rewards discount on those purchases paid for with eBucks... I stand to be corrected however.
 
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