RMB Private Bank Account is a black card reserved for ultra-wealthy individuals with an annual income of R750,000.00 or with net asset value of more than R15 million. Private bank account holders can earn up to 3% back in eBucks on in-store and online purchases.
The monthly service fee for the RMB Private Bank Account is R355.00. Account holders receive free access to over 1000 international lounges as part of their monthly service fee. Furthermore, account holders receive up to 40% off flights and accommodations when using the account to make such purchases.
An RMB Pay As You Use Private Bank Account is also available to individuals that don’t want a bundled account. The PAYU option includes a monthly account fee of R130.00. Spouses receive a 50% monthly service fee reduction, paying only R277.50 per month.
More services and transactional benefits are available with the RMB Private Bank Account. Account holders are entitled to the following transactional and service benefits:
As a RMB black card holder, there are financing benefits that one can take advantage of. The benefits that the RMB black card come with are discussed in detail below.
Category | Option 1 | Option 2 |
---|---|---|
SINGLE FEE PRICING OPTIONS | ||
Monthly Fee | R355 | R460 |
Electronic Debit Transactions (in bundle) | 50 Transactions | 100 Transactions |
RMB Private Bank Business Current Visa Card Purchases | Unlimited | Unlimited |
FNB ATM Cash Withdrawals (in bundle) | 3 | 4 |
Cash Deposited at FNB ATM with ADT (in bundle) | No charge on up to R50,000 | No charge on up to R100,000 |
Transfers | Unlimited | Unlimited |
Electronic Debit Transactions (out of bundle) | R12 | R12 |
Cash Deposited at FNB ATM with ADT (out of bundle) | R4.70 + R0.95 per R100 | R4.70 + R0.90 per R100 |
Cash Withdrawn at FNB ATM (out of bundle) | R2.40 per R100 | R2.40 per R100 |
Express Clearing Payments (online banking, FNB Branch) | 1 at no charge then R15 | 1 at no charge then R15 |
BANK CHARGES – PAYMENTS | ||
RMB Private Bank App, Telephone Banking, FNB ATM, Online | R8.50 | R8.50 |
Telephone Banking (consultant assisted) | R80 | R80 |
FNB Branch | R80 | R80 |
Internal Debit Orders | No charge | No charge |
External Debit Orders | R19 | R19 |
International Card Purchase Fee | 2% of Transaction value (max R100) | 2% of Transaction value (max R100) |
Pay and Clear Now | R30 | R30 |
Real Time Payments (FNB to Other Bank) | <=R100: No charge | <=R100: No charge |
>R100: R0.65 per R100 | >R100: R0.65 per R100 | |
Real Time Payments (RMB to RMB/FNB) | Refer to electronic payment fee | Refer to electronic payment fee |
DEBIT ORDER MANAGEMENT | ||
Stop Payment – Digital Channels | No charge | No charge |
Stop Payment – Telephone Banking (consultant assisted) | R80 | R80 |
Stop Payment – Branch | R80 | R80 |
Debit Order Dispute – App and Online (digital channels) | R5 | R5 |
Debit Order Dispute – Telephone Banking (consultant assisted) | R47 | R47 |
Debit Order Dispute – Branch (consultant assisted) | R47 | R47 |
BANK CHARGES – SCHEDULED PAYMENT RELATED | ||
Online Banking | No charge | No charge |
FNB Branch | R20 | R20 |
CONVENIENCE AND VALUE ADDED SERVICES | ||
FNB Connect Prepaid Purchase | No charge | No charge |
LOTTOTM/PowerBall | R2.70 | R2.70 |
Prepaid Electricity | R0.50 (spend <R75) | R0.50 (spend <R75) |
R2 (R75 < spend < R150) | R2 (R75 < spend < R150) | |
R3 (spend > R150) | R3 (spend > R150) | |
Daily Lotto | R1 | R1 |
Prepaid Airtime Purchase (other banks’ ATMs) | R15 | R15 |
Vouchers (Entertainment, gaming, music, transport, etc.) | R2.70 | R2.70 |
Traffic Fines | R2.70* | R2.70* |
Prepaid Airtime Transaction Fee (App and Online) | No charge | No charge |
Cellphone Banking (Transactions between R0.01 – R10) | R0.50 | R0.50 |
Cellphone Banking (Transactions between R10.01 – R25) | R1 | R1 |
Cellphone Banking (Transactions greater than R25) | R2 | R2 |
BANK CHARGES – BALANCE ENQUIRIES | ||
Using eChannels and mobile channels | No charge | No charge |
Point-of-Sale (RMB Private Bank Fusion/Debit Cards only) | R1.90 | R1.90 |
Other banks’ ATMs, International POS, Branch, Telephone | R8 | R8 |
STATEMENTS | ||
FNB ATM Transaction List | R4 (per statement) | R4 (per statement) |
Printed Statements (Smart Kiosk) | R4 (per page) | R4 (per page) |
Interim/Provisional Statements | R25 (per page, max R50) | R25 (per page, max R50) |
Printed/Emailed Statements (FNB Branch, Telephone Banking) | R50 (per statement) | R50 (per statement) |
Statements – Online Banking (download/view/email) | No charge | No charge |
Posted Statements | R26 | R26 |
To start your RMB black card application you can simply click here. You will leave your details and a consultant will contact you regarding your RMB black card application.
RMB black card fees are reasonable and affordable for someone earning R750,000.00 or more per year. The account comes with many free transactions and services that a high net individual can enjoy. Moreover, account holders get to enjoy travel benefits and the highest rewards through the eBucks rewards program.
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