FNB has scrapped its annual credit card eBucks linkage fee and has simplified the way in which customers earn eBucks. eBucks retains its key benefits enabling a member to spend well-earned eBucks at a wide range of partners, whether it is a flight anywhere in South Africa, shopping at in-store partners such as Makro or by shopping online at the eBucks shop.

From today customers earn eBucks by focusing on the most commonly used banking products such as credit card, cheque account or the bank's innovative One Account.

"Transactions lie at the heart of the eBucks rewards programme. By focusing on everyday banking, we have ensured that people benefit from doing day-to-day transactional banking via their most frequently used accounts," says FNB Core Banking Solutions CEO, Galia Durbach.

She said the bank was now placing strong emphasis on those areas where the customers have control and the greatest potential to earn eBucks.

With the FNB Earn Booster, customers can now boost their credit card and/or cheque account eBucks earn by 25% if they also hold a home loan or One Account with FNB.

This means that the bank rewards you for holding more than one product.

The scrapping of the annual credit card eBucks linkage fee will potentially open the door to more customers to join South Africa's 'Best Rewards Programme in the Financial Services Sector' (World Wide Worx Survey of SA loyalty and rewards programmes).

The bank paid out about R170 million worth of eBucks last year. With the expected increase in transaction volumes - buoyed by the revised earn model and access to the eBucks programme at no charge - customers can look forward to about another R180 million on top of the R170 million payout in 2007.

Durbach said the bank was setting out to ensure that its eBucks programme, which set new benchmarks for innovation and loyalty in its launch in 2000, remained highly attractive.

Lezanne Human, CEO of eBucks, said "eBucks has always led the way in the rewards industry by offering attainable, relevant rewards. Now the programme is even simpler and easier to understand, and most importantly, it is at no charge".

eBucks never expire; they can be spent in the online eBucks shop (via the website www.ebucks.com or call centre), through eBucks travel, at eBucks auctions, with eBucks' online partners or at eBucks' in-store partners with the eBucks card.

Customers are also not limited to just one type of reward. Having the widest range of spend options enables even those with low balances to get something for free.

The earn rules of the other eBucks partners (such as Rand Merchant Bank, WesBank, Makro and a host of other in-store partners) are unchanged and members can continue to earn from these partners at the same rate

About eBucks:

eBucks, the rewards programme offered by First National Bank (FNB) and RMB Private Bank, is acknowledged as one of South Africa's leading rewards programmes with highly active members spending in excess of 80% of the eBucks earned in any given month.