Good news about FNB’s extra R2 per litre fuel rewards

FNB says it will keep offering an additional R2 per litre eBucks rewards to customers using their virtual cards to pay for fuel at Engen stations up to the end of September.

That is despite a reduction in fuel prices at the beginning of August and another drop expected for September.

According to data from the Central Energy Fund, the current trend in the Basic Fuel Price points toward a decline at the pumps of R2.54 per litre for unleaded 95 and R2.38 for unleaded 93. Wholesale diesel prices are also anticipated to drop by more than R2.

FNB introduced its fuel price relief campaign at the start of July 2022, a month during which the country’s fuel prices hit record levels.

The promotion gives all eBucks Rewards members an additional R2 back in loyalty points for every litre of fuel they buy from Engen fuel stations.

“With over 500,000 additional customers set to be eligible to earn eBucks as of 1 July this year, nearly 3.4 million FNB Retail and Commercial customers will automatically have access to the additional benefit,” FNB stated.

“A customer who uses FNB Aspire would have earned 60 cents per litre at Engen, but due to this benefit, they could earn R2.60 in eBucks until 30 September 2022,” explained eBucks Rewards CEO Johan Moolman.

“Similarly, Private Banking and Commercial Banking customers who earn up to R4 per litre at Engen could earn up to R6 per litre for the limited period.”

Eligible customers refilling a typical 45-litre tank have been earning back a minimum of R90 extra in eBucks, which they can use to buy more fuel, groceries at Checkers, or shop from Takealot.

The requirement that customers use an FNB virtual card to pay to qualify for the extra R2 back is also having a massive impact on adoption of the new payment method.“We have seen the greatest increase in clients using their Virtual Cards for Tap to Pay payments since the start of the fuel relief programme,” said FNB Card business development head Ashley Saffy.“This demonstrates that, while our fuel relief programme continues to help our clients save against high fuel prices, it is also helping them adopt the most efficient ways to pay.”Virtual cards provide additional security by having a CVV that changes every hour.FNB customers can add a virtual card on their mobile app, which must also be opened to find the CVV.That makes it difficult for fraudsters to carry out transactions even if they manage to get hold of the card’s other details.Customers can also easily remove a card if they become aware of suspicious transaction activity.FNB could not comment on any financial or statistical information regarding the value it has returned to customers through the promotion, as it is in a closed period due to FirstRand’s upcoming annual results releasing on 15 September 2022.Saffy said FNB would communicate any further developments on its fuel relief initiative in due course.FNB is not the only bank offering additional rewards points to help customers with rising fuel prices.Absa Rewards members earn an additional 10% cash back on fuel spend at Sasol garages between 16 July and 16 October 2022.

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