Is there a catch to the FNB iPad offer?

zizo911

Executive Member
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Dec 24, 2010
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If you have banked with FNB for more than 10 years you receive a free cell-phone :)
 

Creag

The Boar's Rock
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May 19, 2009
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If it's in the terms and conditions and it has been explained, then where is the catch? :confused:
 

LazyLion

King of de Jungle
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Mar 17, 2005
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103,952
There is no such thing as a free lunch.

You have to ask yourself, what is a bank doing selling electronic goods, when that is not their primary business.

The answer then, lies hidden in all the charges and fees that will go to make up the bank's offering these goods at a "reduced rate".

I'm looking for a bank that just up front offers me good service and good rates. No bull, no hidden crap, no monkey business.

Just put your money where your mouth is and reduce your rates for me.
 

Sherbang

Executive Member
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May 14, 2008
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9,874
There is no such thing as a free lunch.

You have to ask yourself, what is a bank doing selling electronic goods, when that is not their primary business.

The answer then, lies hidden in all the charges and fees that will go to make up the bank's offering these goods at a "reduced rate".

I'm looking for a bank that just up front offers me good service and good rates. No bull, no hidden crap, no monkey business.

Just put your money where your mouth is and reduce your rates for me.
Please elaborate all the charges and fees. Is far as I understand all that changes is you no longer have unlimited free ATM withdraws from FNB ATM - you will be limited to 2 free withdrawals a month. It's not hidden.
 

rvanwyk

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Sep 27, 2007
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1,627
Please elaborate all the charges and fees. Is far as I understand all that changes is you no longer have unlimited free ATM withdraws from FNB ATM - you will be limited to 2 free withdrawals a month. It's not hidden.

correct
 

Nickste

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Aug 6, 2003
Messages
1,083
I think that it's great that FNB are pushing consumers away from the use of cash. With NFC chips and Square type wallets on the horizon, it looks like cash transactions will be reduced significantly in the future.
 

Mars

Honorary Master
Joined
Feb 4, 2006
Messages
10,671
The story is not in the so called hidden costs, its in the royal cock up FNB have made in the roll out of this offer.

Rather go and speak to some key people regarding that, find out the official down low as to what happened.

I would love to know the ratio, how many people ordered iPad's vs other devices.
 

tohir

Well-Known Member
Joined
Jul 14, 2007
Messages
160
I think FNB is the one that has been caught out with their sloooowwww response. I think people are praying more now than ever before:

Pls let there be an Ipad for me. Pls dont let the deal f*up. Pls dont let my ID get lost. Amen!!
 
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douglash24

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Aug 8, 2007
Messages
168
The process has been hassle free for everyone that I know of! Including me.

And hidden charges? Where? They must be really well hidden if they were concise and accurate when they go through the terms and conditions via the voice-logged contract.. Then of course if you actually just make sure you understand how the charges work..

Absa, Standard or any bank can sit in the dark ages and promote innovation if they like.. Fnb customers can carry on reaping the benefits.
 

Tomasz-London

Senior Member
Joined
Aug 12, 2005
Messages
648
There is no such thing as a free lunch.

You have to ask yourself, what is a bank doing selling electronic goods, when that is not their primary business.

The answer then, lies hidden in all the charges and fees that will go to make up the bank's offering these goods at a "reduced rate".

I'm looking for a bank that just up front offers me good service and good rates. No bull, no hidden crap, no monkey business.

Just put your money where your mouth is and reduce your rates for me.

CAPITEC
 

MightyMuffinMan

Expert Member
Joined
Dec 31, 2008
Messages
2,211
If it's in the terms and conditions and it has been explained, then where is the catch? :confused:
No catch mate. People don't read. Also it makes sense for people to move away from carrying money around. BTW the bank gets money from matercard and visa when the purchase made via credit or cheque card so that how they make money. They make more money from us using electronic means to bank than from us going to the bank and getting charged a fee.

got to agree there, but I still bank with Standard because they are the only bank next to FNB that offers a Great Private Banking offer and also solid investment convergence.
 

Redsbaron

Well-Known Member
Joined
Oct 26, 2010
Messages
298
I think those complaining are new clients figuring that the R100 account service fees are of no use and money down the drain if they are not going to take full use of the non-chargable items.


The "hidden cost" would be R100 fixed cost monthly regardless of the the use of the account.
Now the question is, is the R100 banking costs a bargain?

What does the following cost?
1. unlimited cheque card swipes when you shop, [Was there a fee for this?]
2. as well as free electronic banking subscription [R20/month]
3. unlimited electronic transactions on online banking, [ok maybe some saving on say 3 tranactions/monht]
4. cellphone banking [check your balance for free - R10/monht?]
5. use of FNB banking App [probably not necessary]
6. Two free FNB ATM withdrawals per month. [R16 x 2]

BUT excludes branch, cheque and Saswitch transactions?


Now say you don't wish to use all the above, and you maybe draw money once a month - two is WOW - do 2 or 3 EFTs, and do not require to check your bank balance once a week, the R100 for the service is effectively subsidizing the purchase of the IPAD and the 35% discount becomes questionable, in such case. If on the otherhand you earn R200k+ month or maybe run a sole proprietor (small business in your personal name), then, this is IDEAL and a bargain if you do a number of EFTs/ month.

So, face it, FNB just has to make it up... somewhere.

Else, the only other advantage if you are not intending to benefit from the above, is that you will save on say R800-R900 interrest if you could buy this using your credit card over 24 months.
 

gargamel

Well-Known Member
Joined
Sep 23, 2011
Messages
118
I'm happy with my fnb, so the R100 is worth it in my books. I just love my new ipad ;-D
 
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