Here are the new FNB banking fees for 2024/25 – with big changes to eBucks

FNB has announced its price increases for the 2024/25 financial year.

“Our customers want more than just competitive pricing; they want a banking partner that supports their financial well-being and adds value to their lives and their money,” said Lytania Johnson, CEO of Personal Banking at FNB.

“With this in mind, our annual review has focused on how we can best deliver the innovative products, services and rewards that our customers are looking for while also giving them the support and value they need to thrive.”

FNB said that its pricing structures are simpler, meaning that fees are more transparent and value is more accessible to customers.

“We’re focusing on helping our customers easily understand our products and make the most of the value we offer,” said Sizwe Nxedlana, CEO of Private Banking at FNB

“We have streamlined our account offerings, optimised our fees and built on our bundled offerings to cater to the diverse needs of our customers.”

The price changes increases can be found below

In addition to the price increases, the bank also announced several updates to its eBucks Rewards programme, which will allow customers more earnings potential and a wider range of spending options.

Entry-Level Banking

The Easy PayU account offers free transactions like small value real-time payments and one free e-wallet payment per month.

Easy PAYU and Easy Bundle (R69 per month) account holders will be able to save on everyday essentials, such as purchasing four loaves of bread per month from Shoprite at 99c per loaf, receiving grocery vouchers of up to R100 when swiping their FNB qualifying card, and a monthly allocation of free WhatsApp messaging on their active FNB Connect SIM.

They will also get travel discounts, including a R50 discount per ticket on bookings made with QuickBus via the FNB App.  

FNB Middle Market

The Fusion Aspire account includes various electronic and cash transactions in the monthly fee, with a 50% discount for a spouse/partner on their Fusion Aspire account.

In terms of eBucks rewards, users can earn rewards on their groceries, health and beauty products, fuel, and streaming subscriptions.

This includes up to R150 back in eBucks on groceries and essentials at Checkers and Shoprite/Usave, up to R150 on health, beauty, and baby essentials at Clicks, and up to R1.20 per litre in eBucks on fuel at Engen.

Aspire customers can also get R20 back in eBucks on their monthly Netflix and Spotify subscriptions when they link their FNB Aspire Virtual Cards to these entertainment services, plus an R100 discount per ticket on bookings made with QuickBus via the FNB App.

The Boost My Rewards program will also allow Aspire customers to earn up to R1,500 annually towards a new pair of shoes, home connectivity, or smart devices.

Family banking benefits provide additional perks such as smoothies, vouchers, and discounts on flights and bus bookings.

Customers will have to ensure that all their bank accounts are in good standing, meet the minimum monthly deposit requirements, have five customer-initiated debit transactions, and log into the FNB App once a month to access the rewards.

Emerging Affluent and Private Banking

Premier customers, including FNB Premier, Private Clients, Private Wealth, and RMB Private Banking will have access to the best rewards.

They will be able to earn up to 15% back in eBucks when using their virtual cards at partners like Checkers, Shoprite, and iStore, up to 40% back on family-related subscriptions such as Netflix and Spotify, up to 50% back for foreign currency transactions via FNB Forex, and up to R4 per litre back on fuel spend at Engen.

Private Clients and Wealth customers will also earn rewards with SPAR.

Customers can also get up to 100% back in eBucks on device purchases when using their FNB/RMB Private Bank Credit or Fusion Cards.

“Our customers lead busy lives, and we want to ensure that their banking experience is as rewarding as possible,” said Pieter Woodhatch, CEO of FNB eBucks Rewards.

“By offering an extensive array of eBucks rewards, travel discounts, educational benefits, and complimentary airport lounge visits, we enhance their lifestyles and provide them with significant value that is appropriate to the lives they lead.”

Read: What it would take to drop flight prices in South Africa