18 Sep 2016

 First National Bank of Botswana (FNBB) has introduced eBucks Rewards in an effort to make banking more pleasurable for customers.
eBucks Rewards provides the most competitive solutions to help Batswana bank smarter, by giving qualifying customers an opportunity to get rewarded when they purchase prepaid airtime or prepaid electricity through FNB’s electronic channels.
Giving a presentation at the launch on September 15, FNB head of consumer affairs, Mr Naco Balote explained that through eBucks, private clients could earn up to 1.5 per cent back in eBucks on qualifying credit card swipes.
He said they wanted to respond to customer’s needs by giving back value to their customers and staying above competition in the country.
He explained that they intend to reward customers who have a primary transactional account being the salary account which includes smart, gold, premier and private customers.
He said to qualify for eBucks customers from various accounts should have a salary coming in every month while premier and private accounts clients were expected to have a credit card.
In addition, customers are expected to have basic transactional behaviours such as swiping, ATM deposits and taking a personal loan.
Mr Balote said the rewards differed by segments and that smart customers and students get 10 per cent back of their airtime spent while gold and premier customers get up to 15 per cent and private up to 15 per cent on airtime and electricity as well as 1.5 per cent on credit card spent.
He added that the more someone banks, the more the rewards he or she would get and that the conversion rate from eBucks to Pula ratio was 1=1. This means one Pula is equal to Eb1.
Mr Balote explained that Ebucks rewards could be used to purchase airtime and electricity and that they intend to be innovative by extending a range of products customers could buy.
However, he noted that the rewards could not be converted into cash nor withdrawn and transferred from one eBucks account to another member, adding that the rewards never expire.
“eBucks rewards is offered free of charge to all qualifying customers, no hidden fees, no extra cost, we do not have monthly fees,” he further noted.
“This makes FirstRand the first banking group to launch a secure electronic rewards currency into Botswana. We are very excited to expand and introduce our eBucks Rewards Programme into the Botswana market,” said Mr Johan Moolman, CEO of eBucks Rewards South Africa.
He said they were all proud of the accomplishment and grateful to FirstRand Bank partners, members and employees who have helped them reach the milestone of expanding further into Africa by providing customers real value and choice. ENDS