3 Big Changes ETF Clients Can Expect in the Coming Months – Including eBucks

Financial services group FNB says an additional 525,000 customers will be eligible to earn eBucks when its annual earning rules and account pricing go into effect on July 1, 2022.

While the earning rules will remain largely unchanged from July, the bank said many more customers will be able to earn and spend eBucks in the future.

Starting in July, application transactions required of Aspire ETF customers have been reduced from three to once per month, while ETF Easy PAYU and ETF Easy Smart Option customers will be entitled to eBucks simply by using the “cash at till”, which is free. The group added that sufficient deposits and digital usage will no longer be required in private banking.

The lender has also reduced the number of points customers need to qualify for each eBucks tier as follows:

Other eBucks earnings changes include:

  • FNB Premier, Private and Private Wealth clients can collect additional points for having a minimum monthly deposit in an FNB account or making at least 10 debit transactions per month in an FNB account.
  • Points for streaming services have changed – Only use your virtual card to collect points for streaming or online platforms. This includes 1,500 points for two or three streaming platforms, or 2,000 points for more than four streaming services.
  • Smart Spend allocations now start at level two of eBucks.


ATM fees

The FNB said it would waive additional fees for other banks’ ATMs during peak periods. The bank said the move is being made to accommodate busy paydays and those collecting grants.

Currently this applies on the 1st, 3rd and 25th day of each month – although this may change at a later date.

The bank added that customers will now only pay 50% of cash withdrawal fees at FNB ATMs when withdrawing through the cardless feature on the FNB app.


Privy Advisors

The FNB is also transforming its private bankers into private advisers. Private advisors will be equipped and accredited to provide integrated advice to help clients save and invest more while protecting their assets.

While private bankers have historically provided investment advice to wealthier clients, the FNB said these advisers will offer these services as well as more general advice on savings. While the bank’s wealthier customers are less likely to struggle to make it to the end of the month, FNB said it’s clear these customers still need general savings advice. and costs.

That can include something as granular as recommending a different store where products are cheaper and helping save on monthly grocery bills, he said.


Read: These are the biggest risks for South Africa right now: Reserve Bank

About Virginia Ahn

Check Also

DNB Asset Management AS increases its equity position in First Republic Bank (NYSE:FRC)

DNB Asset Management AS has increased its equity stake in First Republic Bank (NYSE: FRC …