Tips to Boost your eBucks - 1 July 2020 to 30 June 2021

Status
Not open for further replies.
D

Den G

Active Member
Joined
Dec 11, 2018
Messages
56
Hi guys. Recently opened an account for my partner, who only starts working next year. I’ve deposited money, but the track your rewards says insuffient funds to qualify for eBucks. Do account transfers from myself to my partner, not count as deposits? What else do I need to know about these deposits for them to count?
 
G

Gtx Gaming

Gtx Gaming
Joined
Aug 25, 2008
Messages
25,509
Den G said:
Hi guys. Recently opened an account for my partner, who only starts working next year. I’ve deposited money, but the track your rewards says insuffient funds to qualify for eBucks. Do account transfers from myself to my partner, not count as deposits? What else do I need to know about these deposits for them to count?
Click to expand...
Yes it counts, track my rewards is broken most of time
 
cozinsky

cozinsky

Expert Member
Joined
May 17, 2006
Messages
2,794
Maybe it is wishful thinking but the new iPhones 12 on a 40% discount would have been a lovely Christmas present! Come on FNB, make us smile!
 
T

travelluminati

Well-Known Member
Joined
Jan 7, 2017
Messages
102
Den G said:
Hi guys. Recently opened an account for my partner, who only starts working next year. I’ve deposited money, but the track your rewards says insuffient funds to qualify for eBucks. Do account transfers from myself to my partner, not count as deposits? What else do I need to know about these deposits for them to count?
Click to expand...

Don’t do a transfer. Rather do a payment. This stuffed me up for years until finally an FNB enlightened me.
 
I

iEverything

Well-Known Member
Joined
Jan 2, 2009
Messages
301
Hi,

Question regarding saving into tax free deposit, ebucks PW site says..

”Make a monthly contribution of at least R3 000 OR an annual contribution of at least R36 000 in the current tax year into an FNB Tax-Free Shares Account, Unit Trust or Cash Deposit Account.”

This I do earning 0% interest so I want to draw out the balance but keep contributing the R3k and sweep it every couple of months.

? is, no where does it state above the balance must grow each month so is it safe to assume I can withdraw, transfer R3k and still get the earn?
 
zerocool2009

zerocool2009

Executive Member
Joined
Sep 4, 2009
Messages
8,832
iEverything said:
Hi,

Question regarding saving into tax free deposit, ebucks PW site says..

”Make a monthly contribution of at least R3 000 OR an annual contribution of at least R36 000 in the current tax year into an FNB Tax-Free Shares Account, Unit Trust or Cash Deposit Account.”

This I do earning 0% interest so I want to draw out the balance but keep contributing the R3k and sweep it every couple of months.

? is, no where does it state above the balance must grow each month so is it safe to assume I can withdraw, transfer R3k and still get the earn?
Click to expand...

First of all, if you are doing a TFSA with FNB (then you are doing it WAY wrong). Secondly, the "grow" part is the R3000 per month contribution.

You would be dumb to withdraw from a TFSA (shooting yourself in the foot long-term). So before you open it, read up about how it works.
 
I

iEverything

Well-Known Member
Joined
Jan 2, 2009
Messages
301
zerocool2009 said:
First of all, if you are doing a TFSA with FNB (then you are doing it WAY wrong). Secondly, the "grow" part is the R3000 per month contribution.

You would be dumb to withdraw from a TFSA (shooting yourself in the foot long-term). So before you open it, read up about how it works.
Click to expand...
I understand exactly how a TFSA works thanks - if anyone believes they will really get a ”tax benefit” on such a small cap when there are other far better investments in the market I would say they are naive and not use your crass response of being ‘dumb’ - the earn to maintain my level 5 is why it is done.

Thanks for the reply, appreciated.
 
zerocool2009

zerocool2009

Executive Member
Joined
Sep 4, 2009
Messages
8,832
iEverything said:
I understand exactly how a TFSA works thanks - if anyone believes they will really get a ”tax benefit” on such a small cap when there are other far better investments in the market I would say they are naive and not use your crass response of being ‘dumb’ - the earn to maintain my level 5 is why it is done.

Thanks for the reply, appreciated.
Click to expand...

Well, rather ask yourself this, if you dont invest R36000 per year, you are losing the benefit long term.

If you are using the TFSA product for eB gains (sjoe .... much better ways to get to level 5 I would say).

Anyway, everyone to their own
 
G

g0nt4du

Senior Member
Joined
Mar 22, 2011
Messages
600
If someone is growing their FNB TFSA by 3k only then to use a transfer facility to save at a better TFS provider, not sure that's such a bad idea as it is made out to be?
 
zerocool2009

zerocool2009

Executive Member
Joined
Sep 4, 2009
Messages
8,832
eshwar said:
If someone is growing their FNB TFSA by 3k only then to use a transfer facility to save at a better TFS provider, not sure that's such a bad idea as it is made out to be?
Click to expand...

Been there, got a tshirt. So you want to earn eB level points, and then do a TFSA Transfer to another provider ?

LOL, dont complicate your life, honestly.

Here is an example. I had a TFSA (cash deposit) with another provider. Until June their rate was 8.85% per year. Then in July it dropped to 4.5%. I "moved" it out to buy more ETF's (thinking longterm). The 8.85% rate was great while it lasted.

Ask yourself this, if its purely for eB point (I am sure you can get to level 5 without a TFSA), as there are so many tricks in the eB point manual.
 
J

Judge-ZN

Well-Known Member
Joined
May 7, 2008
Messages
187
Hi. Anyone have Wimpy vouchers they don't intend using? Passing a participating Wimpy today. Much appreciated. Thanks
 
Status
Not open for further replies.
Top