New FNB pricing guide

[shez]

Anyone checked out the new FNB pricing on cheque accounts?

I see there is no more fee saver options.
The unlimited pricing option still remains though. Still R100 for unlimited transactions

 

[F1 Fan]

There are fee saver options If Im not mistaken. I got a mail stating there will be no changes...

What Im keen to see is the eBucks rule changes. Last year it became very very difficult to move up levels...

 

[Ryansta]

What is fee saver?

 

[shez]

What is fee saver?

You keep a minimum balance of R9000 in your account at all times and you get the same benefits as unlimited option.
You can't be on fee saver and have mobile pricing option at the same time though.

 

[Crowley]

http://today.moneyweb.co.za/article.php?id=751894&cid=2014-06-10#.U5b1qHKSyCm

See, a lot in FNB’s new ‘Personal Pricing Guide’ (quietly announced on Friday, and in effect from July 1) makes no sense. And some new fees are downright punitive.

On the pay-as-you-use option (which, unless you have a truckload of debit orders and payments to make every month makes infinitely more sense than the ‘unlimited’ option), the inconsistencies between what’s free on which platform are bizarre. If I transfer (my) money between my own accounts on online banking (or at an ATM), it’s free. If I do so on mobile banking via USSD or the app, it’s R3.50 per transaction.

For payments, the converse is true! If I make a payment on mobile banking (or via the app), it’s free. If I pay someone via online banking (or at an ATM), it’s R7 per transaction.

I’m penalised for transferring money between accounts in the app, and penalised for daring to make a payment online? How does this make any sense?!

We’re now also penalised for buying prepaid airtime from FNB. Yes, R1.10 every single time you buy airtime, even if you’re on the unlimited option where it was previously free. In other words, if you’re on unlimited, you’ll now pay either R100 (gold) or R145 (platinum) a month and an additional R1.10 for each airtime purchase. How is this not punitive? Are the margins on airtime not good enough anymore?

I think FNB is going to lose quite a few customers.

 

[shez]

http://today.moneyweb.co.za/article.php?id=751894&cid=2014-06-10#.U5b1qHKSyCm



I think FNB is going to lose quite a few customers.

I beg to to differ the smart account is a viable option with the unlimited plan at R49. You probably have few debit orders like med aid, rental, pension fund and cell phone contracts. Plus the included cash withdrawals make it easier. They savings in ebucks to use on fuel and at other partners makes the small fee you pay every month worth it.

The pricing guide made no mention of fee saver to my knowledge.

However I do agree that they have become a bit finicky with regards to pay as you go scheme.

 

[ITCynic]

There are somtimes when I need to use cheques. Their fees have gone from R 50 to R 75 which I think is disgusting.

Also paying R 600 a year for a credit & petrol card is crazy.

There really is no incentive to stay with this bank anymore so I shall be looking elsewhere.

 

[kianm]

So now buying airtime at the small garages which charge an extra 50c is cheaper :wtf: . All in all i'm not impressed by these complicated fee structures, pathetic

 

[KleinBoontjie]

WTF, so I can't pay Municipality bills etc. for free anymore??? No *** man, I moved from ABSA to save money, now I'm on *** street again.

 

[Gtx Gaming]

CC costing allot now have a extra credit fee now

 

[shez]

According to information I was given, those people on Fee saver will be allowed to continue on fee saver. The fee saver option is being phased out.

 

[hellfire]

There are somtimes when I need to use cheques. Their fees have gone from R 50 to R 75 which I think is disgusting.

Also paying R 600 a year for a credit & petrol card is crazy.

There really is no incentive to stay with this bank anymore so I shall be looking elsewhere.

Nobody needs to use cheques. Ever

 

[shez]

Nobody needs to use cheques. Ever

Yeah but I see some businesses still use those things. Like bank guaranteed cheques.

 

[hellfire]

Yeah but I see some businesses still use those things. Like bank guaranteed cheques.

That's a different (and higher) charge than the normal cheque processing fee

 

[AirWolf]

According to information I was given, those people on Fee saver will be allowed to continue on fee saver. The fee saver option is being phased out.

I'm on a cheque account and received an email that it will continue. My sister is on a smart account, and it was phased out without notice.