Bank the way FNB wants you to, or else

I RECENTLY discovered that FNB has been deducting R250 each time I used the airport lounge with my FNB card, which previously provided complimentary lounge access.

On inquiring, I learnt that this long-standing benefit had been withdrawn by FNB because I was not, according to FNB, “. . . displaying banking behaviour which the bank wishes to promote”.

Last month, FNB implemented its unilateral change where failure to log in to the FNB cellphone app at least once a month results in immediate loss of eBucks rewards such as airport lounge access. All eBucks clients would do well to scrutinise their bank statements.

When I wrote to FNB to explain that cellphone apps may not be appropriate or desired behaviour for everyone, including retired people like me, it explained: “In line with FNB’s commitment to driving banking behaviour, the bank has linked the eBucks Rewards Programme with the FNB Banking App.”

FNB reminded me that the conditions I agreed to when I signed up stipulate that “we may, in whole or in part, change, suspend or discontinue providing the eBucks Rewards Programme at any time at our sole discretion”.

Further, FNB correctly noted in its reply that I had signed up to these terms when I chose to join eBucks and had received an e-mail notice (which I deleted without reading, thinking it was spam) of this new requirement.

This experience is a good reminder of the importance of reading the fine print so that eBucks members are aware that today’s FNB rewards may disappear tomorrow if the bank wants to make you change the way you do your banking.

Clearly, FNB has thrown out the philosophy that the customer knows best. It is now “FNB knows best”. — Professor Salim Abdool Karim, by e-mail