Big changes for eBucks in South Africa

These changes were announced on Thursday, 2 October, with the bank explaining that they are aimed at delivering greater value and a more streamlined experience for customers. 

The updates include improved travel rewards, the introduction of eBucks ‘PayDay’, a simplified and predictable user experience for customers, and increased rewards for customers who engage with FNB’s popular insurance offerings. 

“At eBucks, we know how much our customers value their monthly eBucks rewards but understand that greater clarity was needed as to when their rewards would be received,” the bank explained. 

“From October, eBucks will be enhancing its value by giving customers a mid-month breather with an ‘eBucks PayDay’ on the 15th of each month.”

FNB eBucks CEO Pieter Woodhatch explained that this mid-month ‘PayDay’ will create a predictable schedule for receiving rewards, making planning simpler and easier.

In addition to having a fixed allocation date, eBucks will enhance the customer experience with exclusive offers like eBucks Travel deals, discounts on the eBucks Partner Shop and special offers from eBucks partners.

The revitalised travel product for domestic travel will be active from November and will address some of the points of frustration customers have raised in the past. 

“Travellers will know that different airlines often price tickets in very different ways, frequently resulting in large differences between ‘base fares’ and ‘full ticket price’ that includes taxes,” the bank explained. 

“From next month, eBucks customers will be rewarded with discounts on the full fare, including taxes across all fare types, including ‘bag’ as well as our new ‘no bag’ options.” 

“This change will be supported with a simplified travel booking experience, where passenger rewards are simply explained against the fares.”

In other words, the travel reward will be earned on the full ticket price, including all taxes, as opposed to the base fare only. 

Travel rewards will also now follow a tiered reward level structure – 

• The core programme will offer up to 20% off the full ticket price
• Customers who hold FNB comprehensive motor insurance will enjoy an up to 40% discount
• Customers who hold a full suite of short-term comprehensive insurance products or a minimum short-term insurance premium of R5,000 a month will receive an up to 80% discount
• For commercial customers, the core reward programme will mirror the up to 20% discount off the full ticket price, with up to 40% discount level for customers who hold an FNB Business Motor or Property cover and at least one additional qualifying comprehensive Business policy

Woodhatch said these rule changes and new products will ensure that eBucks pre-empts and responds to the needs of customers, while remaining personally relevant with differentiated value.

Issued on Daily Investor by Bianke Neethling | https://dailyinvestor.com/banking/104062/big-changes-for-ebucks-in-south-africa/