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R451m in eBucks spend in lockdown

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At the beginning of this year, nobody could have predicted just how economically challenging the year 2020 was going to be. While many people are still coming to terms with the financial difficulties caused by Covid-19 and the national lockdown, FNB says its customers have turned to eBucks rewards to help them extend and better manage their finances.

“We’ve seen eBucks members using their rewards to buy essentials,” says Johan Moolman, CEO of FNB eBucks Rewards. “Since the start of the national lockdown towards the end of March, members have spent over R451 million worth of eBucks on things like fuel, groceries, airtime and data and other day-to-day necessities, helping them stretch their monthly budgets even further.”

Moolman says the tools eBucks has provided are helping members save and grow their money. 

“We want to help our members to earn eBucks so they can use them to supplement their household income, especially during these times of uncertainty. This is why we’ve introduced tools on the FNB App like ‘Track my rewards’ and ‘Earn more eBucks’, which allow members to track their current banking behaviour daily and perform the necessary banking behaviours to move up a reward level and earn more eBucks in the upcoming month.”

Moolman points out that the value of a good rewards programme goes far beyond just the day-to-day rewards that members enjoy. A valuable rewards programme should also be designed to enable members to practice good money management and encourage them to grow their savings to protect their future.

eBucks Rewards members earn reward level points for having an FNB savings or investment account, maintaining a healthy credit status with nav» Money on the FNB App, and for using Cash@Till withdrawals, which Moolman says is more cost effective than ATM and branch withdrawals. 

“It’s important for us to encourage members tobank responsibly and manage their finances well. At FNB, our philosophy has always been to find ways to help our customers. Through our eBucks Rewards programme, we are helping customers to support their cost of living expenses, rewarding members for good money management, and creating valuable opportunities to save and grow their money by supplementing their financial spend with rewards.”

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