FNB's eBucks has reached a major milestone by giving
customers R2bn in rewards in the past 12 years, according to a report.
In 2011 a total of R500m was awarded to customers,
eBucks is a rewards programme offered by FNB and RMB Private
Bank that boasts 2.7 million members.
"Last year we awarded R500m in eBucks - it's an
incredible figure to give back to customers. The total we spend on marketing in
less than that - R400m last year. The amount we give back to customers exceeds
what we spend on marketing," FNB CEO Michael Jordaan was quoted as saying.
“This R2bn spend milestone shows that our members find the
programme relevant and valuable,” said eBucks CEO Jolandé Duvenage.
eBucks remains a key element of FNB’s growth strategy and
its bid to retain core transactional accounts by offering value to its
According to the report, consumers spent eBucks on everyday
necessities such as groceries, medicine, airtime and fuel.
Jordaan added: "Eventually we'd like to see eBucks as
our rewards programme in every country in which we operate - across eight
African countries," Jordaan said.