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Private Banking
Frequently Asked Questions
For more information contact your Private Banker or the FNB Private Wealth Service Suite
0877 30 6000 servicesuite@fnbprivateclients.co.za
How do I qualify for Rewards and Benefits?
There are different qualifying rules depending on the type of account you have.
How do I qualify if I have a personal individual or joint account?
There are 5 reward level
To qualify for Reward Level 1 you need to:
1. Have an active FNB Private Wealth Current or Structured Facility account and:
- ensure it has a deposit of at least R44 500 per month; or
- ensure it has a deposit of at least R150 000 over the previous 3 months; or
- maintain a minimum balance in the account of at least R100 000 throughout the month.
2. Ensure all your accounts are in good standing
Or you need to:
1. Have an active FNB Private Wealth Credit Card Facility with at least R10 000 spend each month or R30 000 average spend over the last 3 months.
2. Ensure all your accounts are in good standing
To qualify for reward Levels 2, 3, 4 or 5 you need to:
1. Have an active FNB Private Wealth Current or Structured Facility account and:
- ensure it has a deposit of at least R44 500 per month; or
- ensure it has a deposit of at least R150 000 over the previous 3 months; or
- maintain a minimum balance in the account of at least R100 000 throughout the month.
2. Have an active FNB Private Wealth Credit Card Facility
3. Ensure all your accounts are in good standing
How do I qualify if I have a business or juristic account?
To qualify for reward levels 2, 3, 4 or 5 you need to:
1. Have an active FNB Private Wealth Current or Single Facility account and:
- ensure it has a deposit of at least R44 500 per month; or
- ensure it has a deposit of at least R150 000 over the previous 3 months; or
- maintain a minimum balance in the account of at least R100 000 throughout the month.
2. Ensure all your accounts are in good standing
Note: Accounts in the name of a legal entity or joint accounts involving legal entities (i.e. non personal accounts) that meet the qualifying criteria will qualify for reward levels 2, 3, 4 or 5. They will not be on reward level 1.
Note: Individual accounts or joint accounts involving individuals (personal accounts) will be treated independently of accounts in the name of a legal entity or joint accounts involving legal entities (non personal accounts) when it comes to the qualifying criteria as well as when it comes to calculating Rewards.
Things to remember: If you have an FNB Private Wealth Juristic or Business Account, meet the sufficient deposit rule and your account is in good standing, you will qualify to earn eBucks on reward level 2 until 31 August 2015. From 1 September 2015, FNB Private Wealth Juristic or Business Accounts will be migrated to eBucks Rewards for Business
Do joint accounts qualify for eBucks?
Yes. eBucks earned on a joint account will be allocated as follows; the qualifying spend on the joint account will be split equally between the number of individuals who have authority to transact on the account. eBucks will then be allocated to each individual who has authority to transact on the account and an eBucks account according to their respective reward level.
Note: Individuals who have authority to transact on a joint account must have an eBucks account in order to earn eBucks (if they do not, they will not earn eBucks).
Will I earn eBucks if I don't have an eBucks account?
No, you must be registered members of the eBucks Rewards Programme in order to earn rewards on your smart device, fuel, airtime, electricity or shopping purchases.
What does 'good standing' mean?
Good standing means that none of your FNB Private Wealth and FirstRand Bank accounts and credit agreements should be overdrawn, or be in arrears, or be in default, nor should the account holder be undergoing sequestration, or be subject to any legal process with FNB Private Wealth or FirstRand Bank as defined in our terms and conditions.
What do I have to do once I have qualified?
Once you have qualified, your reward level is determined by the number of reward level points you collect in a calendar month (except if you are on reward level 1 where you can't get points). Your reward level will give you an eBucks earn percentage. Your reward level will also determine which Discounts and Benefits you can enjoy.
How do I move up a rewards level?
There are many easy ways to collect points. You do not need to fulfil all the criteria - but you will collect more points the more you do. Please refer to the 'How do I collect points' section to see how you can collect points each month.
Note: Reward level points are calculated at the end of each calendar monthly.
What do I have to do once I have qualified?
Once you have qualified, your reward level is determined by the number of points you collect in a calendar month (except if you are on reward level 1 where you can't get points). Your reward level will give you a reward rate which will determine the amount of eBucks you will earn. Your reward level will also determine which discounts and benefits you can enjoy.
When are the new rules effective?
The new rules are effective from 1 July 2015. Remember, rewards are allocated around the 8th day of each month, based on your banking behaviour in the previous calendar month. The first eBucks allocation based on the new rules will be made around the 8 August 2015.
Where can I see information on my rewards levels, points, discounts, etc?
You can login to your personal Online Banking profile from 8 August 2015. Remember, rewards are allocated around the 8th day of each month, based on your banking behaviour in the previous calendar month.
You will also receive a monthly reward statement detailing what rewards and beneifts you have received in a month.
At which fuel retailers will I earn eBucks?
You will earn eBucks when you purchase fuel at any fuel service station using your FNB Private Wealth Current Card and Credit Card. FNB cannot be held responsible should a fuel retailer refuse to accept an FNB Private Wealth Current and Credit Card for payment.
If, for whatever reason, the fuel retailer does not accept the cards mentioned above, you will not earn Rewards on that transaction. If a fuel service station does not process a transaction correctly as a fuel transaction, you will not earn a fuel reward on this transaction. This is because FNB cannot identify a qualifying transaction, at the time the transaction is processed by the fuel service station. (This means FNB cannot identify the transaction as a fuel transaction and we therefore cannot redeem any Rewards for this transaction, irrespective of whether the FNB Consumer can establish after the fact that it was indeed a fuel transaction.)
I'm not getting rewarded for my fuel purchases?
There are two reasons that you may not have been paid eBucks for your fuel purchases you have made:
1. The fuel purchase was made using an FNB Private Wealth Debit or Petrol Card linked to your Current or Single Facility Account.
Please note that FNB Private Wealth does not do any manual rewards allocations and review claims for purchases made using a Debit (not personalized, or embossed) or Petrol Card linked to an FNB Private Wealth Current or Single Facility Account, as these cards do not qualify to earn Rewards.
With the introduction of Chip and Pin Current Cards on FNB Private Wealth Current or Single Facility Accounts, FNB is in the process of phasing out the Debit Cards and Petrol Cards linked to your Current or Single Facility Account. The Chip and Pin Current Cards have enhanced functionality (clients can make online purchases), enhanced security (lost card protection), and are also personalized.
2. The fuel purchase was made using an FNB Private Wealth Current or Credit Card, but was processed incorrectly by the fuel service station.
Fuel purchases made using your FNB Private Wealth Current or Credit Card qualify to earn eBucks on your fuel purchases. When you purchase fuel at a service station the transaction can be processed in one of two ways:
- As a fuel transaction, with a specific fuel code (identifying the transaction as a fuel transaction), or
- The transaction can be processed as a convenience store purchase
What to do if you are not getting rewarded for your fuel purchases
Please send us an email with the below documents and information so that we can ensure that you get your eBucks Rewards on your fuel purchases. If the fuel merchant has not correctly processed the transaction, we will approach the merchant on your behalf and ask them to rectify their process. Should you continue to experience the same problem at the same merchant, please try an alternative fuel merchant.
Please email the following to servicesuite@fnbprivateclients.co.za:
- A copy of your FNB Private Wealth Current or Credit Card fuel transaction slip;
- Your FNB Private Wealth account number
At which grocery retailer will I earn eBucks?
You will earn eBucks when you purchase groceries at any grocery retailer (except for Checkers & Shoprite where you can earn up to 15% back in eBucks) using your FNB Private Wealth Current Card or Credit Card and the purchase can be identified by the internationally recognised Merchant Category Code (MCC) 5411. FNB Private Wealth cannot be held responsible should a grocery retailer refuse to accept an FNB Private Wealth Current, Credit Card for payment.
If, for whatever reason, the grocery retailer does not accept the cards mentioned above, you will not earn eBucks on that transaction. If a grocery retailer does not process a transaction correctly as a grocery transaction, you will not earn eBucks on this transaction. This is because FNB Private Wealth cannot identify a qualifying transaction, at the time the transaction is processed by the grocery retailer. (This means FNB Private Wealth cannot identify the transaction as a grocery transaction and we therefore cannot redeem any eBucks for this transaction, irrespective of whether the FNB Private Wealth can establish after the fact that it was indeed a grocer transaction.)
I'm not getting rewarded for my grocery purchases?
There are two reasons that you may not have been paid eBucks for your grocery purchases you have made:
1. The grocery purchase was made using an FNB Private Wealth Debit Card linked to your Current or Single Facility Account.
Please note that FNB Private Wealth does not do any manual Rewards allocations and review claims for purchases made using a Debit (not personalized, or embossed) linked to an FNB Private Wealth Current or Single Facility Account, as these cards do not qualify to earn Rewards.
With the introduction of Chip and Pin Current Cards on FNB Private Wealth Current or Single Facility Accounts, FNB Private Wealth is in the process of phasing out the Debit Cards linked to your Current or Single Facility Account. The Chip and Pin Current Cards have enhanced functionality (clients can make online purchases), enhanced security (lost card protection), and are also personalized.
2. The grocery purchase was made using an FNB Private Wealth Current or Credit Card, but was not processed as a grocery transaction by the grocery retailer.
Grocery purchases made using your FNB Private Wealth Current or Credit Card qualify to earn eBucks. When you purchase groceries at a grocery retailer the transaction can be processed in one of two ways:
- As a grocery transaction, with a specific grocery code (identifying the transaction as a grocery transaction), or
- The transaction can be processed as purchase transaction but not specifically a grocery transaction (for whatever reason).
FNB Private Wealth
Through which banking channels can I purchase airtime and electricity that will earn eBucks?
You can purchase airtime through any FNB electronic channels, such as an FNB ATM, Cellphone Banking, Online Banking, or through the FNB Private Wealth Banking App. Prepaid Airtime and Electricity purchased through these channels earn eBucks.
Will my airtime purchased at other vendors besides FNB qualify to earn eBucks?
No, only airtime purchased through your account through FNB's electronic channels qualifies to earn eBucks
Do the required total monthly deposit amounts need to be deposited at once, or can the deposits come in throughout the month?
The credits to your account can be deposited throughout the calendar month.
What are the limits/ spend rules for earning eBucks on shopping purchases?
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Card swipes
- If you are on reward level 3, 4 or 5, the amount on which you earn eBucks at your shopping reward rate is limited to a total monthly rand spend (on qualifying card swipes only) of R30 000 on your qualifying FNB Private Wealth Current and/or Credit Card. Thereafter, you will earn eBucks on shopping purchases made using your FNB Private Wealth Credit Card at a flat rate of 1%.
Note:
- Your FNB Private Wealth Credit Card spend is considered first towards the spend limit.
- You will not earn eBucks on shopping purchases (card swipes) above the R30 000 spend limit made using your FNB Private Wealth Current Card.
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Online shopping
- If you are on reward level 1, the amount on which you earn eBucks at your online shopping reward rate is limited to a total monthly rand spend (on qualifying online purchases only) of R10 000 on your qualifying FNB Private Wealth Current and/or Credit Card. Thereafter, you will earn eBucks on online shopping purchases made using your FNB Private Wealth Credit Card at a flat rate of 0.6%.
- If you are on reward level 2, the amount on which you earn eBucks at your online shopping reward rate is limited to a total monthly rand spend (on qualifying online purchases only) of R10 000 on your qualifying FNB Private Wealth Current and/or Credit Card. Thereafter, you will earn eBucks on online shopping purchases made using your FNB Private Wealth Credit Card at a flat rate of 0.9%
- If you are on reward level 3, 4 or 5, the amount on which you earn eBucks at your online shopping reward rate is limited to a total monthly rand spend (on qualifying online purchases only) of R10 000 on your qualifying FNB Private Wealth Current and/or Credit Card. Thereafter, you will earn eBucks on online shopping purchases made using your FNB Private Wealth Credit Card at a flat rate of 1%.
Note:
- Your FNB Private Wealth Credit Card spend is considered first towards the spend limit.
- You will not earn eBucks on online shopping purchases above the R10 000 spend limit made using your FNB Private Wealth Current Card.
-
International shopping
- If you are on reward level 1, the amount on which you earn eBucks at your international shopping reward rate is limited to a total monthly rand spend (on qualifying international purchases only) of R20 000 on your qualifying FNB Private Wealth Current and/or Credit Card. Thereafter, you will earn eBucks on international shopping purchases made using your FNB Private Wealth Credit Card at a flat rate of 0.6%.
- If you are on reward level 2, the amount on which you earn eBucks at your international shopping reward rate is limited to a total monthly rand spend (on qualifying international purchases only) of R20 000 on your qualifying FNB Private Wealth Current and/or Credit Card. Thereafter, you will earn eBucks on international shopping purchases made using your FNB Private Wealth Credit Card at a flat rate of 0.9%.
- If you are on reward level 3, 4 or 5, the amount on which you earn eBucks at your international shopping reward rate is limited to a total monthly rand spend (on qualifying international purchases only) of R20 000 on your qualifying FNB Private Wealth Current and/or Credit Card. Thereafter, you will earn eBucks on international shopping purchases made using your FNB Private Wealth Credit Card at a flat rate of 1%.
Note:
- Your FNB Private Wealth Credit Card spend is considered first towards the spend limit.
- You will not earn eBucks on international shopping purchases above the R20 000 spend limit made using your FNB Private Wealth Current Card.
- Please note that for certain shopping purchases made in Lesotho, Namibia or Swaziland, you will earn eBucks at your shopping (swipes) reward rate, and not at your international shopping reward rate.
What are the limits/ spend rules for earning eBucks from Checkers & Shoprite?
The amount on which you earn eBucks is limited to 20% of your total monthly qualifying FNB Private Wealth Current and Credit Card spend or a total rand spend (on Checkers & Shoprite purchases only) of R15 000 per month, whichever occurs first.
Note:
- Your FNB Private Wealth Credit Card spend is considered first towards the spend limit.
- You will not earn eBucks on Checkers & Shoprite purchases above the R15 000 spend limit made using your FNB Private Wealth Current Card.
What are the limits/ spend rules for earning eBucks on grocery purchases?
- If you are on reward level 1, the amount on which you earn eBucks at your grocer shopping reward rate is limited to a total monthly rand spend (on qualifying grocer purchases only) of R15 000 on your qualifying FNB Private Wealth Current and/or Credit Card. Thereafter, you will earn eBucks on grocer shopping purchases made using your FNB Private Wealth Credit Card at a flat rate of 0.6%.
- If you are on reward level 2, the amount on which you earn eBucks at your grocer shopping reward rate is limited to a total monthly rand spend (on qualifying grocer purchases only) of R15 000 on your qualifying FNB Private Wealth Current and/or Credit Card. Thereafter, you will earn eBucks on grocer shopping purchases made using your FNB Private Wealth Credit Card at a flat rate of 0.9%.
- If you are on reward level 3, 4 or 5, the amount on which you earn eBucks at your grocer shopping reward rate is limited to a total monthly rand spend (on qualifying grocer purchases only) of R15 000 on your qualifying FNB Private Wealth Current and/or Credit Card. Thereafter, you will earn eBucks on grocer shopping purchases made using your FNB Private Wealth Credit Card at a flat rate of 1%.
Note:
- Your FNB Private Wealth Credit Card spend is considered first towards the spend limit.
- You will not earn eBucks on grocer shopping purchases above the R15 000 spend limit made using your FNB Private Wealth Current Card.
What are the limits/ spend rules for earning eBucks on fuel, Uber rides and Gautrain tickets?
- The amount on which you earn eBucks is limited to 20% of your total monthly qualifying FNB Private Wealth Current and Credit Card spend or a total rand spend (on fuel, Gautrain tickets and Uber rides only) of R5 000 per month, whichever occurs first.
- You can fill up at any fuel station, but you must pay for your fuel through the fuel station pay point - you won't earn eBucks if you pay for fuel at the convenience store at the fuel station.
- You only earn eBucks on Uber rides taken domestically.
What are the limits/ spend rules for earning eBucks on all networks' prepaid airtime?
The amount on which you earn eBucks is limited to a total monthly rand spend (on qualifying all networks* prepaid airtime purchases only) of R1 000.
* 'All networks' refers to all cellular networks other than FNB Connect.
** Standard network rates apply.
What are the limits/ spend rules for earning eBucks on FNB Connect contracts and prepaid airtime?
The amount on which you earn eBucks is limited to a total monthly rand spend (on qualifying FNB Connect contracts and/or prepaid airtime purchases only) of R625.
What are the limits/ spend rules for earning eBucks on electricity?
The amount on which you earn eBucks is limited to a total monthly rand spend (on qualifying prepaid electricity purchases only) of R3 000.
What are the limits/ spend rules for earning eBucks on Smart Devices?
The amount on which you earn eBucks is limited to a total monthly rand spend (on qualifying Smart Device contracts only) of R500.
When will I receive my eBucks?
eBucks on your FNB Private Wealth accounts are based on a calendar month and will be paid into your account every month around the 8th of the following month.
What is a Non-discretionary FNB Securities Stockbroking Account?
A share portfolio opened under a Non- discretionary mandate whereby you manage your own investments and the appointed stock-broker will only carry out investment instructions on your behalf and perform such acts necessary to give effect to instructions if he/she consults with you and gets your authority first.
What is a Discretionary Wealth Mandate?
A discretionary mandate whereby you authorise FNB Private Wealth to manage investments as the sole and full discretion of FNB Private Wealth in order to achieve the investment objectives as agreed upon and as updated in writing from time to time. This means that this mandate is an unlimited mandate which authorises FNB Private Wealth to act on your behalf in order to achieve the investment objectives without it being necessary to obtain further authority or consent from you to effect any transaction in investments in terms of this mandate
FNB Private Wealth
What is a full discretionary mandate?
A share portfolio opened under a full discretion mandate whereby the appointed stock-broker / portfolio manager can manage your investments for you without your prior consent or knowledge
What is a referral discretionary mandate?
A share portfolio opened under a referral discretionary mandate (co-pilot) whereby the appointed stock-broker / portfolio manager can manage your investments for you, but only with your prior consent or knowledge
Will I continue to earn eBucks on the same categories I earned on as before (Fuel, Prepaid electricity, Airtime, etc?
Yes, if you qualify you will continue to earn eBucks. The amount of eBucks you will earn depends on your reward level