Beware eBucks rule that could leave you stranded on Level 3

A requirement that could easily be overlooked – it is explained in a footnote of its myriad earn rules that run close to 7 000 words – may see FNB customers participating in its eBucks rewards programme stranded at reward Level 3, regardless of any other actions they take during the month. The programme incentivises account holders through various ‘behaviour change’ actions that reward them with points that can be used to earn various levels of eBucks. Over a decade ago, it used the programme to incentivise the uptake of its award-winning FNB app; it was among the first of the major banks in the country to launch one.

Recently, it has been pushing its insurance products, offering a significant number of reward points for taking them up. Reaching Level 5 equates to rewards for customers of up to 15% back in eBucks at Clicks and Spar, 20% at Pick n Pay (or 30% via the on-demand delivery service Pick n Pay asap!), between 15% and 60% for the bank’s own products, and as much as R8 per litre for fuel purchases at Engen. Itannounced some sudden changes in October, which were implemented in November – a strange decision given that changes have historically only been made annually from July.

This was the first year where two rounds of material changes occurred in under six months. The November changes made it tougher than ever to reach Level 5 on its various FNB Private accounts (Premier, Private Clients, and Private Wealth). However, in its ‘income deposits’ requirement, which can see account holders earn a substantial amount of reward points (2 000 for Premier, 2 500 for Private Clients, and 3 000 for Private Wealth), there are additional criteria alongside the ‘core’ one.

[paywall]

These are among the highest number of reward points one can earn for a behaviour in the programme. For income, customers need to have regular deposits into their accounts (effectively, a salary) of R16 500 (Premier) or R32 500 (Private Clients and Private Wealth) in order to get these points.

[/paywall]