FNB Islamic Black Cards review 2023

FNB prioritizes Islamic banking and has ensured that Islamic banking equivalents are available for mainstream banking products. For Islamic banking, the bank provides two FNB Islamic black cards. FNB Islamic Private Clients and FNB Islamic Private Wealth are two of these accounts.

Account holders can enjoy Shari’ah-compliant private banking accounts through Islamic private clients and wealth accounts. The accounts provide account holders with numerous benefits, including travel and rewards.

The FNB Islamic black cards are expensive to maintain, but they offer the most benefits of any FNB account. Below are some of the most common benefits associated with Islamic Black cards.

General solutions of the Islamic Black card

FNB App and online banking

The Islamic Black card entitles you to free access to FNB digital channels. Account holders can transact remotely without visiting a branch. Black account holders can use the FNB app and online banking services to:

• Add or modify recipients,
• Block, cancel or order an Islamic private client or private wealth black card.
• Any fraudulent activity can be reported through the channels.
• Checking for available free SLOW lounge visits.
• Managing finances and other financial information with the Navigate Life section.
• Check balances, statements, payments and transfers to the account.
• Make a payment, such as an eWallet transaction or a cash payment.

Private Advisor

FNB’s black card experience includes a dedicated private advisor. The dedicated private advisor assists account holders with a variety of banking requirements. A private advisor is available to a private bank account holder 24/7.

Through a private advisor, an account holder will be assisted in the following regard:

• Provide personalised financial review on how you spend, save, and invest money.
• The advice of secure and unsecured lending. A private advisor helps account holders with loan applications for different types of loans.
• Providing insights on wealth, savings, and investment solutions that are available to the account holder.
• Raises awareness of transactional products.
• Providing insights on insurance products for future planning and estate planning.

Access to a team of specialists

The FNB Islamic private banking provides specialist banking and financial planning services at no additional cost to account holders. Account holders have access to financial specialists who can help them in a variety of ways.

The following specialists are available to account holders:

• Financial planners,
• Fiduciary specialists,
• Portfolio managers, and
• Home loan specialists.

24/7 service suite

The 24/7 suite is designed to avail a number of services to Islamic Black card holders. The service suite is available through a secure chat, email, or phone. As a result, as an account holder, you can select the most convenient method of communication from the list of available options.

The FNB App includes a secure chat feature. Chatting on the App enables direct communication with the account holder’s team of bankers.

The FNB Islamic black cards are among the best in South Africa, as evidenced by the services provided to black card holders. The rewards from the eBucks program are also included in benefits for FNB Islamic black card holders. eBucks offers the highest rewards to black card holders and Islamic black card holders.

We look at the rewards that are offered to Islamic black account holders as follows.

FNB Islamic Black Card eBucks rewards

The eBucks rewards program is available for free to Islamic black card holders. The program is tier-based, those in the highest tier will receive the highest possible reward. The following are the benefits available to Islamic black card holders.

eBucks rewards for spending and banking

• The account holder earns up to 15% back in eBucks when using an Islamic black card at Clicks stores nationwide.
• When users spend at Checkers and Shoprite, users can get up to 15% back in eBucks points.
• Account holders with Islamic Black account(s) can earn eBucks rewards by spending wisely. eBucks rewards for smart spending can be accessed  by going to the FNB App and going to eBucks > Earn > Smart spend
• Account holders can save up to R399 when purchasing eTextbook vouchers with eBucks and Snapplify.
• Users can get up to R100.00 to spend at a Kauai store every month if they use their FNB Islamic bank account for 100% of their monthly spending.
• Account holders with a vehicle financed through Wesbank, VW financial services, or Toyota financial services earn up to R8.00 per liter back in eBucks per quarter at Engen garage.
• Islamic black account holders can get up to 15% in eBucks back on the latest Apple products at the iStore.
• Account holders can enroll for 2 courses with Udemy per month and 6 courses per year for an activation fee of R50.00.
• If you use the virtual card or FNB pay for any purchase 5 times a week, you’ll get a free tall cappuccino from Starbucks every week.
• When using an Islamic black bank account to purchase airline tickets, account holders can save up to 40%. GuardMe offers a 3 months free subscription and protects your family from R19.90 per month and thereafter get up to 100% of your subscription fees back in eBucks monthly.

eBucks rewards for FNB connect Sim holders

Islamic black card holders with a FNB connected Sim can get a number of eBucks benefits when they transact on the Sim. The eBucks rewards that come with the FNB connect Sim for Islamic black card holders are as follows.

Tier	voice reward	data reward	SMS reward	Extra when you spend R100
1	30	200MB	30	200MB
2	30	400MB	30	400MB
3	30	600MB	30	600MB
4	30	800MB	30	800MB
5	30	1GB	30	1GB

Tier 5 members receive the highest reward, which includes up to 2GB of data, 30 voice minutes, and 30 SMSs per month. Spending an extra R100.00 on the FNB connect Sim allows users to earn 2 times the reward data per month.

eBucks rewards on FNB investments

Islamic Black card holders earn up to 100% of their monthly Islamic private clients or wealth account fee back in eBucks if they invest in the following:

• FNB Equity Portfolio,
• Balanced portfolio,
• Dividend income portfolio,
• Islamic balanced portfolio,
• Islamic portfolio,
• Wealth stable portfolio,
• Income portfolio,
• Stable portfolio,
• Moderate portfolio,
• Growth portfolio,
• Wealth stable portfolio EFT,
• Wealth moderate portfolio EFT,
• Growth plus portfolio,
• Global leaders portfolio,
• Global Equity Income portfolio,
• EFT cautious portfolio,
• Global Equity Growth portfolio,
• EFT balanced portfolio,
• Wealth growth portfolio EFT,
• EFT growth portfolio,
• Wealth stable portfolio, and
• Wealth growth portfolio.

FNB Islamic private banking offers two accounts, which we will discuss below: the FNB Islamic Private Clients account and the FNB Islamic Private Wealth account.

FNB Islamic Private Clients Account

The FNB Islamic private bank account is a black cheque account that charges a monthly service fee of R440.00. A client must have an annual income of between R750,000.00 and R1,799,999.00 to be eligible for the account.

The FNB Islamic private clients account includes a dedicated private banker and a group of finance specialists available 24 hours a day, seven days a week. Finance specialists are available 24 /7 to assist clients with financial planning and other financial needs.

The account includes free enrollment in the FNB eBucks rewards program, which allows Islamic private clients account holders to earn eBucks points. Points are earned on specific purchases, with up to 45% cash back as eBucks points.

The Islamic Private client account includes 20 SLOW lounge visits per year. When booking a flight ticket through eBucks, account holders get a bonus of 12 additional SLOW lounge visits per annum.

The FNB Islamic Private Clients bank account comes with costs. The costs associated with the FNB Islamic Private clients account are tabled below.

FNB Islamic Private Clients Account comes Fees 2023

#	Fee	Amount
1	Monthly overdraft service fee	R69.00
2	Monthly FNB fusion facility	R69.00
3	Monthly revolving facility fee	R69.00
4	Once off revolving facility initiation fee	R155.00
5	Linked account transfer at FNB branch	R80.00
6	Cash withdrawals at FNB ATM	R2.30 per R100.00
7	Cash withdrawal at cash@till	Free
8	Cardless withdrawal	R1.15 per R100.00
9	Other banks’ ATM cash withdrawal	R12.00 + R2.85 per R100.00
10	International ATM cash withdrawal	R80.00 + R2.85 per R100.00
11	Telephone payments	R80.00
12	Branch payments	R80.00
13	Internal debit order fee	Free
14	External debit order fee	R19.00
15	International payments in Rands	2% of transaction value
16	Cash deposit at FNB ATM	R1.30 per R100.00
17	Cash deposit at FNB branch	R80 + R2.80 per R100.00
18	Deposit at Cash@till	Subject to merchant charges
19	Stop debit order at a branch	R80.00
20	Stop debit order online	Free

Requirements of the FNB Islamic Private Clients bank account

• South African ID book or Smart card,
• Passport with a valid work/retirement permit if non-South African,
• Proof of residence that is not older than 3 months at the time of application,
• Must earn between R750,000.00 to R1,799,999.00 per annum, and
• Provide the latest payslip or the latest 3 months’ bank statement.

FNB Islamic Private Wealth Bank account

The FNB Islamic Private Wealth account is a Shari’ah-compliant cheque account with an R555.00 monthly account fee. When opening an Islamic private wealth account, a minimum income of R1.8 million or a net asset value of R15 million is required.

As a private bank account, the Islamic private wealth account comes with a dedicated banker. Furthermore, the account comes with a full suite of financial advisors who are available to the account holder 24/7. Advisors can help with different financial planning services, such as insurance, investments, and more. 

The Islamic Private Wealth account gives account holders access to both national and international SLOW lounges. Account holders get to save R250.00 fee per person to access local lounges and R400.00 per person to access international lounges. 

For a monthly service fee of R555.00, the Islamic Private Wealth account offer the following transactions for free:

• Card purchases,
• FNB instant payments,
• Prepaid purchases,
• Payments and transfers,
• Debit order (internal and external)
• Send money,
• Card delivery,
• FNB deposits up to R20,000.00,
• Cash withdrawals at tills,
• eBucks membership,
• Balance inquiry,
• Statements, and
• Lotto transactions

The FNB Islamic Private Wealth account has other charges that it bills on certain transactions. Below we cover the transactions that are charged a fee on the Islamic Private Wealth account.

FNB Islamic Private Wealth Account Fees 2023

#	Fee	Amount
1	Monthly overdraft service fee	R69.00
2	Monthly FNB fusion facility	R69.00
3	Monthly revolving facility fee	R69.00
4	Once off revolving facility initiation fee	R155.00
5	Linked account transfer at the FNB branch	R80.00
6	Cash withdrawals at FNB ATM	R2.30 per R100.00
7	Cash withdrawal at cash@till	Free
8	Cardless withdrawal	R1.15 per R100.00
9	Other banks’ ATM cash withdrawal	R12.00 + R2.85 per R100.00
10	International ATM cash withdrawal	R80.00 + R2.85 per R100.00
11	Telephone payments	R80.00
12	Branch payments	R80.00
13	Internal debit order fee	Free
14	External debit order fee	Free
15	International payments in Rands	2% of transaction value
16	Cash deposit at FNB ATM	R1.30 per R100.00
17	Cash deposit at FNB branch	R80 + R2.80 per R100.00
18	Deposit at Cash@till	Subject to merchant charges
19	Stop debit order at a branch	R45.00
20	Stop debit order online	Free

Requirements of the FNB Islamic Private Wealth Bank account

• Have a valid South African ID book or Smart card.
• Provide a recent payslip,
• Proof of residence that is not older than 3 months at the time of application,
• Earn an annual income of R1,8 million or have a net asset value of R15 million, and
• Spousal consent if married in community of property.

Conclusion

The FNB Islamic black cards provide Shari’ah compliant banking to those seeking for Muslim priority banking. The account comes with a long list of rewards that can be earned through the eBucks rewards program. Furthermore, the account allows account holders to bank with professional bankers who are available 24/7.