Tips to Boost your eBucks

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wonduhboy said:
Even more reason to question it?
Someone has to pay for this...
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There was an interview on Classic Business years ago when they just started the fuel rewards (I think). It seems like the classicfm archive is not public, which is a pity, but there's some hint of it here:
https://www.ebucks.com/web/eBucks/aboutus/pressreleases/2013/201203rewardtrends.jsp

As far as I can remember, she (the CEO of eBucks) was pressed to explain how this can possibly be profitable for FNB and eventually said that they certainly do make a loss on some individuals, but they look at lots of other things for the program as a whole. The most obvious example would be one of the people on this thread walking around telling friends that he bought a TV with eBucks. That's marketing backed with loyalty. I have no idea what that would be worth, but the point is that you need to be on the other side to understand how this benefits FNB and that it's probably horridly complicated.

My view is that I am clearly getting a benefit here (or being very convincingly fooled to think that I am) and that's all that matters for me. Maybe it's a bit like the uncapped ADSL model where "abusers" are getting way more than the subsidisers and everyone ends up happy, more or less.
 
wonduhboy said:
Has anyone given any thought into how FNB can offer 15% discount/ebucks back on fuel, airtime, electricity and Checkers/Shoprite?
Where is the money coming from?
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Well for one there are the base banking costs which actually cost them close to nothing.

Add to that the agreements they make with suppliers it's not that hard to figure out. Supplier clients would rather make less margin and actually have sales than high margin and no sales at all.

This entire system gives customer lock in, which is what any business wants. Spend the money you would ordinary spend elsewhere but spend it with the same company again and again instead. The margins on singular things are small but add it all together and you have repeat customers spending more money with you than they would otherwise.

It's Apple logic really.
 
First, consider the impact this has on Checkers. Without eBucks, I would not spend a cent at Checkers. Not one cent. If you were the CEO of Checkers, how much would the loyalty of thousands of customers be worth to you?

Second, consider the impact of data collection and marketing. eBucks allows them to collect customer retail habits in detail. They know much you spend, they know when you shop, they know your age, your race, what you like to buy. That data is worth a lot because it can be used to do more accurate marketing.
 
Ancalagon said:
First, consider the impact this has on Checkers. Without eBucks, I would not spend a cent at Checkers. Not one cent. If you were the CEO of Checkers, how much would the loyalty of thousands of customers be worth to you?

Second, consider the impact of data collection and marketing. eBucks allows them to collect customer retail habits in detail. They know much you spend, they know when you shop, they know your age, your race, what you like to buy. That data is worth a lot because it can be used to do more accurate marketing.
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Good point with the marketing. PnP uses their Smart Shopper data to issue you with custom discount vouchers on the items you regularly buy. In their app you can see your transactions with them to item level.

Data mining for marketing is gold in this day and age.
 
AirWolf said:
Good point with the marketing. PnP uses their Smart Shopper data to issue you with custom discount vouchers on the items you regularly buy. In their app you can see your transactions with them to item level.

Data mining for marketing is gold in this day and age.
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This is what I was thinking - I wonder if they are supplying our data to any other companies.
As was said; they know almost everything about me, including what I buy...
 
Re: The impact on Checkers and Checkers (FNB) vs PnP (Discovery). When Discovery reduced the benefits offered at PnP I said to my old man, OK, screw that we aren't going to spend a single cent at PnP anymore. Buy everything at Checkers instead and only certain things at WW for HealthyFood discounts or things exclusive to WW.

I'm now loathe to spend money anywhere that there isn't some advantage offered to me.

I also now sing FNB's praises and would highly recommend them to anyone. Of course most people won't get beyond reward level 4 so I suppose it still remains profitable for FNB and partners.
 
Global Account questions

Aessa said:
element1 said:
Originally Posted by Aessa
Has anyone opened a Global Account to get that extra 3000 points?

I opened a euro account, which was really easy online, but transferring funds to it is turning out to be a little more complicated than I expected. First you need to select a reason for the transaction, all of which are individual or foreign investment reasons. Apparently the reason does not matter much, so I would just choose Other and consider it a sort of European holiday savings account.

Once you select a reason, you need to provide your tax clearance certificate number. I was under the impression that the individual discretionary allowance is R1-million and you don't need a TCC for that. Leaving the field blank doesn't work, seems to be required. OK, so get a TCC? Nice, it's free and you just apply for it with SARS. The form asks for your investment amount and expected return, which I can't really guess. At this point I started thinking that just getting this for some ebucks points isn't worth the hassle. Also, I seem to have some studying to do regarding Forex in general.
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I had a chat with the FNV Forex - 0860 1 FOREX (36739)

You need to choose "512-07 Foreign investments - Other" and then the tax clearance certificate number field is not required to be filled.

I made a USD inter-account transfer yesterday, and it was processed and reflecting on my account today.
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Great, thanks. Done.
Also found this just now:
https://www.fnb.co.za/downloads/forex/SARB_BoP_Codes_for_Outward_Transactions.pdf
It adds a few extra words of explanation to the mix.
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Sorry if I am asking old questions here[-], but what amount is required if one was opening a Euro account?[/-] And do you only get the points for the next full month that you have the account open?

Do you just keep the funds in there indefinitely and each month you rack up +3000 points?

edit: OK, digging up some more old posts in answer to my questions:
Tinuva said:
The ebucks rules say how much you need to have for your selected currency, in the same row it says you get 3000 points. 90 000 rupees, or 1000 pound/euro ect. Usually works out to +- R10 000 worth.
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jsheed_sa said:
I did the Global Account thing yesterday and added 1000 Euro in order to get my 3000 ebucks reward level points.

The Global account is however still reflecting '0' balance. Does this take some time to reflect or is there a glitch?
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Aessa said:
They phone you a day or three later (can't remember how long exactly) and then tell you the exchange rate at that very moment and what it will cost you. You then need to say yay or nay and it's done in a few seconds. They feel somewhat rushed, so if you've never done this before (like me), it's a bit surprising. Makes sense, that rate isn't exactly going to stay the same if you start wondering about it.
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jsheed_sa said:
You do it online. Just select Global acc and the currency you want.

They then load the currency a day or so later.
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What happens the the money in the global accounts?
- Does it earn interest?
- Are there monthly charges involved in a static account?
- Is there a cost (apart from commission) of selling the forex back to the bank and closing the global account?

Would appreciate some feedback from anyone who's had experience with this.
 
StrontiumDog said:
I'm now loathe to spend money anywhere that there isn't some advantage offered to me.
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we are cut from the same cloth :-)

Recently applied for a loan through fnb (have a very decent credit rating) and they came back with a horrendous interest rate. Applied through ABSA, whom I no longer bank with and their rate was significantly better. Left a bitter taste in my mouth, and will now extract maximum benefit from FNB :-)
 
abudabi said:
Oh lordy lord

Went there hoping to come back all smiles but to take out the device they need to raise an overdraft of 5k. Now i already have an overdraft of 60k that is not being touched.. but they need this in addition to that and the system declined me. Grrrrr.. They also cant just take 5k of my existing OD or even drop my current OD by 5k to accommodate this one as there's a 30 day waiting period when your OD is changed... poo.

So they escalated it to a cedit manager and I should know tomorrow.

Oh ps... they said whoever told me that signing up before the 15th will get me a current month debit order and points earned in the same month was talking hogwash. :fuming:

Gonna go pull that phone recording and demand my points.
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Eish.. who knew.


There are 2 different ways to get the devices... and they differ FUNDAMENTALLY.

1. Pickup at dot FNB stores. They do their own credit checks and work on giving you a 5k overdraft.
2. Order online/via premier desk. They do fnb credit checks with no need for overdraft. They only deliver via courier at R150 a pop... no chance for pickup.

and now ebucks are saying as long as the order is concluded before the data is sent to them (on the 8th) you will get the points.

:loopy:
 
wonduhboy said:
Has anyone upgraded from Platinum to Private Clients?
Feedback?
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Just upgrade both your credit and cheque cards at the same time. Also do it soon after the allocations are done for the previous month so that if there are any problems it can be resolved before the next allocation.

I dropped to level 1 due to their mess ups for two months. Eventually after 3 more months got my missing ebucks reinstated. Received over eB40 000 that was not given to me while I was on level 1.
 
Gtx Gaming said:
I did.

No problem ,same earning rules. Just get more ebucks but you pay R345 a month.
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thanks!
What was your reasoning behind upgrading? I mean to say, do you see yourself getting R145 more in ebucks or other values?
 
wonduhboy said:
thanks!
What was your reasoning behind upgrading? I mean to say, do you see yourself getting R145 more in ebucks or other values?
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Unrestricted access to the slow lounges, and Priority Pass.
Those two alone make me happy
 
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