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In mitigation to the new fuel price increase FNB says its customers will get more rewards when filling up. Picture: Hollie Adams/Bloomberg
In mitigation to the new fuel price increase FNB says its customers will get more rewards when filling up. Picture: Hollie Adams/Bloomberg

Ahead of yet another record-high fuel price increase in SA, First National Bank (FNB) has announced additional eBucks incentives to help its customers offset the effect of high fuel prices.

From July 1 until September 30, FNB will give qualifying retail and commercial customers an additional R2 per litre back in eBucks for fuel purchases made at Engen. This benefit is available to customers irrespective of their reward level and is in addition to what they would have ordinarily earned.

To qualify for the additional benefit, customers have to pay with their FNB and RMB private bank virtual cards when paying for fuel, and also complete at least one online virtual card transaction per month at any merchant.

With over 500,000 additional customers set to be eligible to earn eBucks as of July 1, nearly 3.4-million FNB retail and commercial customers will automatically have access to the additional benefit.

Customers who fill up at Engen and have vehicle instalments with WesBank are still eligible for the double up benefit, where they earn up to R8/l per quarter in eBucks; these customers will now earn up to R10/l per quarter in eBucks over the next three months.

FNB Retail CEO Raj Makanjee says: “Fuel is one of our customers' largest expenses, and while eBucks has been helping customers to mitigate the cost for years, the recent fuel price increases are unprecedented. As a result, we encourage our customers to maximise this limited benefit to reduce the effect of fuel on their budgets. 

CEO of eBucks rewards Johan Moolman explains that with this extra benefit, a customer who uses FNB Aspire would have earned 60c/l at Engen, but due to this benefit, they could earn R2.60 in eBucks until September 30.

Other banks offer similar benefits to offset fuel prices.

Absa bank says its customers can earn up to 30% real cash back, depending on your rewards tier every time you fill up at Sasol. Standard bank clients can get up to R5 in reward points per litre of fuel and oil purchased at Caltex stations.

Nedbank says by filling up at BP you get 25c cash back in Greenbacks on every litre of fuel while Capitec bank says clients who fill up at Shell fuel stations get 40c per litre back on the 10th of every month.

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