Tips To Help You Reduce Banking Costs

As a bank concerned about our customers, we offer you the following tips to help you save on interest, while also answering some of your most important questions about reducing banking
charges.

How can I save on debit interest?

By managing your debt carefully, you will be able to save yourself interest charges by:

Paying off the loans with the highest interest rates first
Paying the full amount outstanding on your credit card each month to avoid interest charges on outstanding balances
Avoid borrowing to cover your day to day living expenses.
Pay more than the minimum instalment on loans if you can afford to, as this will save on interest charges. This is particularly true of your home loan – any extra funds paid in
immediately reduce the capital, which means that interest charges drop from the moment the extra money goes in.

Which banking choices are the most reasonable?

We believe in giving you the choice of how to do your banking, so we do not charge you any subscription fees for Telephone, Online or Cellphone Banking. This means that you can choose whether you would most like to bank using the ATM, the Internet, the telephone or your cellphone without having to worry about monthly fees.

We offer a range of different pricing options on our Cheque and Smart Accounts to suit the way you transact. If you would like assistance in choosing the best pricing option for you , or have questions on how to reduce your costs of banking, you can call the FNB Pricing Line on 0860 11 22 44.

Also, remember that:

ATMs, Online, Telephone and Cellphone Banking offer you more cost effective banking facilities than branches.
Use FNB ATMs wherever possible to avoid paying additional charges for using Other Banks’ ATMs.
It is safer and more cost effective and convenient to use your FNB debit, credit or cheque card to pay for purchases at Visa and Visa Electron enabled outlets than to pay by cheque.
Limit ATM cash withdrawal fees by drawing larger amounts less often instead of smaller amounts more often.
If you are a couple residing at the same address, you can make use of the Tandem Account Option. This gives a 50% discount on the cheque and external debit order service fees for the second account, provided that account is on the Pay as You Use pricing option.
Our Mzansi and Smart Transmission Accounts are less expensive than cheque accounts to maintain, but offer no overdraft facilities.
You can now do all your banking with no subscription or transaction charges via FNB Cellphone Banking.
Depositing cash via an FNB ATM is free so rather use an ATM to deposit cash instead of an FNB branch.
Prepaid Purchases via any of FNB’s electronic channels are free of charge as from 1 June 2007.

How can I avoid penalty charges?

It is a good idea to monitor your account carefully, making sure that there is always enough money to cover all transactions. In this way you can:

Always remain within your account limit and avoid paying penalty fees on items that are dishonoured due to insufficient funds in your account.
Look after your ATM cards to avoid unnecessary card replacement fees.
When depositing a cheque, make sure that the cheque is not post-dated, as you will be charged a fee for each unpaid or post-dated cheque deposited.

How can I save when using my Credit Card?

By using the following hints you can save money while still benefiting from the convenience and flexibility of your credit card.

Always pay your account by the due date, as indicated on your statement, to avoid late payment charges.
It is a good idea to make the minimum payment for your credit card amount by means of a debit order from your cheque account so that you will never go into arrears.
Remember, setting up a debit order is free.
Pay your account in full every month to avoid interest charges.
Ensure that you remain within your allocated credit limit, as you will incur “over limit” charges if you exceed this.
A cash deposit fee is charged if you pay cash into your credit card account. To avoid this charge use one of the electronic payment methods.
Deposit surplus funds into your credit card account.
You can earn interest on the credit balance and can transact against it or withdraw it as needed.
There is no interest-fee period on cash withdrawals, fuel and fuel related purchases and electronic payments that result in a debit balance. So, unless you pay back these amounts immediately, you will incur interest charges.
Take up the Electronic Service Option (ESO) and pay only R99 on your annual credit card fees.
Apply for additional Visa credit cards linked to the primary credit card account at no additional charge.
Familiarise yourself with the eBucks Rewards Programme, maximize your earn and don’t forget to spend your points.

Where can I find out more about banking fees?

Visit our website on www.fnb.co.za.
Phone FNB Telephone Banking on 0860 11 22 44.
Ask for assistance at your nearest FNB branch.
Die Afrikaanse weergawe vir ons fooie is beskikbaar by u FNB tak en by www.fnb.co.za.