Banking Rewards

Banks reward you, their customer, by letting you earn rewards on your daily purchases. A comparison of all the benefits of each bank’s rewards programme is shown below. Please note that “eligible purchases” exclude all cash withdrawals, electronic transfers and payments, casino chip purchases, foreign exchange purchases, bank fees, garage card purchases and certain other criteria that differ for each bank.

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Monthly/Annual Membership Fees:

Free if your FNB cheque card qualifies (see criteria here) or if you register with an FNB credit card there is an annual fee of R200 R179 Annual Fee R21pm R20 PM or R240 Annual Fee

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Banking rewards info:

Banking rewards are there to try and reward your loyalty to your bank. Although you might see great benefits from these programmes, you must be aware of the monthly fee (this fee is payable if you make use of the rewards programme or not).

Another reason banks offer rewards to their customers is that they are trying to instill good banking habits in you, we will elaborate this point with the use of an example.. As we are moving more and more towards a pure electronic banking system, whereby currency is now digital (simply think of how the need to carry around physical cash is becoming more and more unnecessary) the need for branches to handle cash transactions is also slowly but surely going to become a thing of the past. Every year banks spend billions on the maintenance of these branches, staff costs and transport of currency to and from these branches, but with a pure electronic banking system these costs simply don't exist as everything is automated. This reason is why banks reward you for only using electronic means (swiping for eligible purchases and using internet banking) because the cost of you transacting this way is next to nothing.

It is not just the banks that prefer you to only transact electronically, it is also much cheaper for you, as all electronic bank transactions are included in your monthly fee meaning that if you become habitual about always swiping for purchases and making use of internet banking, you will save money on transaction fees associated with withdrawing/depositing cash as well as earn rewards points that you can use to buy goods and services..

Reviews

FNB -

Forex

Lianagainsford 21-10-2017

FNB -

Lianagainsford 21-10-2017

ABSA -

11-10-2017

NEDBANK -

2017 30-08-2017

ABSA - online banking

can some one tell me if you can open an account online if you not SA citizen and you live offshore?

ronaldndenda 30-08-2017

ABSA -

ronaldndenda 30-08-2017

ABSA - Student loan

Can i be please granted with a student loan i need to further my studies next year.

Moshiliabne 21-08-2017

FNB - Credit Card Fraud on a card i hadn't received yet

I upgraded my credit card and fraud happened on the card that was still with the couriers and they had linked my cheque card to that card as well and transactions were done also from the cheque account. My question was who linked my cheque card to a credit card that i hadn't received yet and i was given lousy excuses, no apology from the bank what so ever. I then decided to closed both my cheque account and credit card and I want nothing to do with the bank anymore. They might have the best self service channels but their contact centre sucks. bad service, consultant drop calls and are very rude. I wonder if tehy listen to their calls or if they have Quality Assurance. But hey i'm happy with the bank i choose after them. They treat me like i'm their only customer.

18-08-2017

CAPITEC BANK -

Kati 02-08-2017

ABSA -

27-07-2017

ABSA -

27-07-2017

Standard Bank -

27-07-2017

Standard Bank -

27-07-2017

ABSA -

27-07-2017

ABSA -

27-07-2017

ABSA -

27-07-2017

ABSA -

27-07-2017

ABSA -

27-07-2017

ABSA -

27-07-2017

ABSA -

27-07-2017

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