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FNB rewards customers for banking smartly

29 October 2010 FNB

First National Bank (FNB) this week unveiled South Africa’s first fuel rewards programme, which aims to incentivise in excess of 2 million customers, who bank wisely and cost effectively, with massive rewards when they purchase fuel.

The introduction of Fuel Rewards by FNB will see customers who hold an FNB Cheque, Credit or Linked Petrol Card get up to 15% back on their fuel purchases. This means that when customers swipe their FNB Cards at a fuel retailer, they will get cash or eBucks paid straight into their account.

“Fuel is a grudge purchase for many. As a bank we always look at various ways to help our customers through innovative solutions that put money back in their pockets,” says Jacques Celliers, Chief Executive Officer of FNB Credit Card.

Celliers says that the cash back from fuel will provide a much needed reprieve for many households, especially for those who plan to travel this festive season.

The Fuel Rewards offering is also aimed at customer retention and in attracting new customers to the bank.

“Local household budgets have been under pressure from inflation and the burgeoning household debt ratio to disposable income, which is currently at historical highs of 79.9%. We hope the cash back will assist by putting some much needed cash back into the pockets of our customers,” adds Celliers.

The Fuel Rewards are also aimed at rewarding customers for banking smartly. “We are rewarding customers who bank efficiently and smartly with us, such as using online channels, meeting their monthly payments and not going over their limits” says James Fowle, Pricing Executive at FNB.

FNB customers can earn rewards when they purchase fuel at any petrol station using an FNB Cheque, Credit or linked Petro Card. They can get up to 15% back if they are an eBucks member, while non eBucks members can get up to 10% “cash back”.

Customers earn points from their banking activities each month, and the more points a customer has accumulated, the higher the rate of rewards they will get back on their fuel purchases. The Fuel Rewards are credited to customers’ eBucks, Credit Card or Cheque Account monthly in arrears.

Customers can earn points from a range of activities, for example:

  • Transacting electronically through Online and Cellphone banking,
  • Using their Cheque and Credit Cards for purchases,
  • Making regular Credit Card payments and not going over-limit
  • Updating contact details at least once a year

Customers are even rewarded for simple things like making use of other FNB products such as Home Loans, Overdrafts and Investments.

These points then determine which earn tier a customer falls into, which in turn determines what percentage they will get back on their Cheque, Credit or linked Petrol Card when they purchase fuel.

The offer is available to active card holders of an FNB Personal (Silver, Gold, Platinum or Encore), Islamic Cheque Account, FNB Private Clients Single or Private Facility, and all FNB Silver, Gold, Platinum and Private Clients Credit Card holders.

More information on FNB’s Fuel Rewards program is available at http://www.fnbfuelrewards.co.za/

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