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 -

Marais 08-06-2017

ABSA -

Hermanus1234 11-05-2017

ABSA -

Hermanus1234 11-05-2017

Standard Bank - Mr

Mr shokane

Mahlatse 27-03-2017

FNB -

josephn 15-03-2017

CAPITEC BANK - Mrs

rydiakiewit 13-03-2017

NEDBANK -

Xulu 28-02-2017

NEDBANK -

Xulu 28-02-2017

FNB -

Melinda 20-02-2017

ABSA -

werner 16-02-2017

ABSA -

werner 16-02-2017

FNB -

Pearlie869 11-02-2017

FNB - Student loans

10/10

Gandini 07-02-2017

FNB - Student loans

10/10

Gandini 07-02-2017

FNB - Student loans

10/10

Gandini 07-02-2017

FNB - Student loans

10/10

Gandini 07-02-2017

FNB -

vashnee07 03-02-2017

FNB - Add Recipient

Try adding a Recipient either way it just doesn't happen. Just too Frustrating. Wake up FNB. life is hard enough what now you want to make it worse by living in the dark ages

Sher 01-02-2017

ABSA -

9711115422084 01-02-2017

ABSA - Mr.

I need a study loan

9711115422084 01-02-2017

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