Is FNB losing the plot.

[ChocolateBadger]

I don't understand why everyone is complaining about the ebucks, atm vs swiping. If you use your cheque card to pay for petrol, I can almost guarantee that your swipes will out way your atm draws per month.

 

[greenbean32]

As I got no joy no joy from Fnb ,I decided to give Absa a call ,since 2 months back my choice was between the two of them for the unlimited options.They dropped their price by 40 bucks but with only 5 free atm withdrawals(value bundle they call it).

However if you signed up at that time you get to keep your package.
Guess I have to see what Capitec got to offer.

 

[RogueTr00per]

I don't understand why everyone is complaining about the ebucks, atm vs swiping. If you use your cheque card to pay for petrol, I can almost guarantee that your swipes will out way your atm draws per month.

Well, unless you spend over 5k on your cheque card, u lose free Slow Lounge access. I do all my swipes on my credit card. Now they want me to swipe with my cheque card? Sure, I can do that, but then will be spending less on my credit card and my fuel rewards discount will drop into a lower bracket.

from: https://www.fnb.co.za/about-us/pricing-guide/reward-info.html
SLOW Lounge – Qualifying Criteria
Have total monthly deposits of at least R16 500 into your Cheque Account and spend more than R5 000 on your Platinum Cheque Card in the month preceeding your visit

edit:
OK, did some more digging, and it looks like one can qualify via platinum cheque card or platinum credit card.

https://www.fnb.co.za/credit-card/slow-lounge-access.html
FNB Platinum Credit Card - Qualifying Criteria

Active Platinum Credit Card in good standing* with monthly spend of
R3 000 or more in the statement/billing period preceding the visit

 

[Ecco]

As I got no joy no joy from Fnb ,I decided to give Absa a call ,since 2 months back my choice was between the two of them for the unlimited options.They dropped their price by 40 bucks but with only 5 free atm withdrawals(value bundle they call it).

However if you signed up at that time you get to keep your package.
Guess I have to see what Capitec got to offer.

If you can keep R9K in your account - look at the fee saver pricing - you will bank for free!

 

[MongooseMan]

No problems there. It's hard to be under 5k!

Really?
I can't think of the last time I swiped for more than R3k in a month.
Most of my expenditure is via EFT or debit order (rent, medical aid, insurance, etc), which doesn't count.
That said, there are only two of us, so maybe it's easier if you're a family.

 

[greenbean32]

If you can keep R9K in your account - look at the fee saver pricing - you will bank for free!

Thanks for the info.

 

[xrapidx]

Really?
I can't think of the last time I swiped for more than R3k in a month.
Most of my expenditure is via EFT or debit order (rent, medical aid, insurance, etc), which doesn't count.
That said, there are only two of us, so maybe it's easier if you're a family.

I think the only time I've swiped my cheque card is when I've mistaken it for my credit card.

 

[Ecco]

I think the only time I've swiped my cheque card is when I've mistaken it for my credit card.

If you not using the credit facility i.e. you don't actually have the cash, then swiping the debit card or the credit card is the same from the customers point of view. Maybe rewards are different on each.

 

[AstroTurf]

Is it only me ,or is Fnb about to lose ALOT of customers.

Got a sms this morning to say that my fees is going up by 10 rand(no problem with that)
And my unlimited atm withdrawals will be restricted to 6 FREE monthly withdrawals.

As a new customer to Fnb (2 months now) ,I must say that I am very disapointed.Just glad I have not closed my previous account yet.Especially as that was the reason I went over to them coupled with unlimited swipes.

Would like to hear wheat other fnb customers think.

Someone's gotta pay Steve

 

[ChocolateBadger]

If you not using the credit facility i.e. you don't actually have the cash, then swiping the debit card or the credit card is the same from the customers point of view. Maybe rewards are different on each.

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.

 

[xrapidx]

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.

I use my credit card for the full interest free period - let the money sit in my bond till the day its due.

 

[Ecco]

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.

Off topic but..
A lot of people have these broad statements about credit cards - thing is (and see xrapidx post after yours) is not everybody spends money on their credit card that they don't have - for many people its a means for making payment more then anything else. They have the money, and will transfer into the account when required.

 

[IzZzy]

I use my CC only to "bridge" a purchase. Say I need a new PC, I'll usually dump half of the cost onto the CC now, pay for it in full and on next pay day, pay the remaining half. Other than that, it just sits in my wallet.

That and for emergencies.

 

[pragmatic]

As far as I know withdrawals (physical cash) had always been restricted - ebanking is unrestricted.

 

[MongooseMan]

I think the only time I've swiped my cheque card is when I've mistaken it for my credit card.

I use my credit card for the full interest free period - let the money sit in my bond till the day its due.

Off topic but..
A lot of people have these broad statements about credit cards - thing is (and see xrapidx post after yours) is not everybody spends money on their credit card that they don't have - for many people its a means for making payment more then anything else. They have the money, and will transfer into the account when required.

Glad to see I'm not the only one (not that it helps me get into the Slow Lounge )

 

[muzee]

Is it only me ,or is Fnb about to lose ALOT of customers.

Got a sms this morning to say that my fees is going up by 10 rand(no problem with that)
And my unlimited atm withdrawals will be restricted to 6 FREE monthly withdrawals.

As a new customer to Fnb (2 months now) ,I must say that I am very disapointed.Just glad I have not closed my previous account yet.Especially as that was the reason I went over to them coupled with unlimited swipes.

Would like to hear wheat other fnb customers think.

I saw the increase in price as well as limits on withdrawals and also jumped. However, when i saw the detail you can now withdraw unlimited at "tills" (they dont define tills anywhere so not sure which tills). Also the fees for other bank ATM's which used to be R32 i think has now come down drastically.

 

[RogueTr00per]

If you not using the credit facility i.e. you don't actually have the cash, then swiping the debit card or the credit card is the same from the customers point of view. Maybe rewards are different on each.

Did you mean do have the cash? I get what you r saying though; basically using one's credit card like a debit card. Though that is pretty pointless.

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.

I use my credit card for the full interest free period - let the money sit in my bond till the day its due.

+1. @ChocolateBadger, I always settle my credit card bill in full on the 'payment due date'. I think in about 15 years I have only paid interest on my credit card about 5 times. Twice because I forgot to pay by the due date and two or three times because of interest on cash withdrawals (by mistake) or fuel purchases.

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.

 

[RogueTr00per]

Glad to see I'm not the only one (not that it helps me get into the Slow Lounge )

If u spend over 3k on your platinum credit card[*] monthly then you'll qualify for Slow Lounge. [*]Assuming u have one.

 

[Ecco]

Did you mean do have the cash? I get what you r saying though; basically using one's credit card like a debit card. Though that is pretty pointless.

Yeah its mostly pointless, however there are sometimes rewards programmes attached to the card, and you get something back for using it. Also in some cases you can only pay via credit card - some websites etc.

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.

This is also true.

 

[ChocolateBadger]

Did you mean do have the cash? I get what you r saying though; basically using one's credit card like a debit card. Though that is pretty pointless.

+1. @ChocolateBadger, I always settle my credit card bill in full on the 'payment due date'. I think in about 15 years I have only paid interest on my credit card about 5 times. Twice because I forgot to pay by the due date and two or three times because of interest on cash withdrawals (by mistake) or fuel purchases.

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.

Yeah but I have debtaphobia 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.