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FNB Premier Cheque Account Review 2021

Posted on May 18, 2021 by Staff Writer

Rateweb | South Africa

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Outside being prestigious, the FNB Premier Cheque account has a lot of benefits and merits that work for the client’s convenience.

FNB Premier Account Summary

FNB Premier Cheque Account is a cheque account offered by the First National Bank to individuals with an annual income between R300,000.00 to R749,000.00 per annum. FNB Premier Cheque Account is most ideal for young professionals. The monthly bank fees for this account start from R219.00 and are dependent on usage.

With the Premier cheque account, you get to enjoy a lot of rewards. It further caters for additional family members.  

FNB Premier Cheque Account fees 2021

Fee DescriptionFee in South African Rands (ZAR)
Monthly Bank ChargeR219.00
Credit facility service feeR17.00
Credit Card monthly account feeR75.00
Linked petro card feeR29.50
Monthly overdraft service feeR69.00
Electronic paymentsFree
Debit ordersFree
FNB Premier Cheque Account fees 2021

How do you qualify for FNB Premier Cheque Account? 

  • You must have a South African ID  
  • Must be 18 years or older  
  • Have a good credit score  
  • You should have an income ranging from R300,000.00 – 749,000.00

How It Works

  • You get an FNB Premier Cheque Account
  • Receive an FNB Premier Credit card
  • You get a free savings account that earns you a competitive interest. With this savings account, FNB allows you to save while you spend. It rounds up your card purchases value and saves the difference value in your Savings Account. 
  • Get a pre-package of free FNB Connect data, voice minutes and SMSs monthly.  
  • Withdraw cash at Shoprite & Checkers, Pick n Pay, Boxer Superstores  
  • Free Digital banking on the FNB App, FNB Online Banking and Cellphone Banking.  With online banking, you can enjoy making your payments, transaction, eWallet, transfers and Geo Payments. 

Rewards

  • Get discounted coupons exclusive to eBucks partners via the FNB App 
  • Get special deals and discounts through eBucks Travel  
  • Through eBucks Travel you can get up to 40% off on selected flights  
  • Earn up to 15% back in eBucks when you shop at Checkers & Shoprite 
  • (Exclusive to Engen) Earn up to R4 back per litre for fuel in eBucks  
  • Earn eBucks every time you shop in-store and online  

Spousal Account  

The FNB Premier Account offers account features that are convenient for all the family members, this includes your spouse and your kids.

You can get your spouse to enjoy all the benefits offered by the FNB Premier Account despite their income amount.    

How spousal FNB Premier Cheque Account works?

  • For R149 per month, they get an all-inclusive portfolio product including FNB Premier Cheque Account and Credit card.  
  • Membership to the eBucks rewards program.  

Free FNBy account for your kids    

FNB Premier account also offers a free FNBy Account for your kids.  The FNBy is a fully functioning account that can be used for day-day banking and transactions.

It also offers a savings account with good interest rates for your kids’ savings.

This account is designed for under 25 individuals and the under 18 are not charged for monthly accounts fees. Those over 18 are charged a small fee of R17 per month.  

FNB Premier Cheque Account for Young Professionals  

This offer is for young professionals who are between the ages of 25-34, who are either employees or training and earning more than R5500 a month.

Chartered Accountancy, Architecture, Law, Medicine (medical doctors and dentists, pharmacists, optometrists, chiropractors and vets) and Actuarial science are the professionals that qualify.  

Offerings

  • Get access to a Premier Cheque Account  
  • Get a Premier Credit Card  
  • Free subscriptions to FNB Online Banking, Cellphone Banking and the FNB Banking App   

FNB Premier Cheque Requirements:  

  • South African ID/ Book  
  • Proof of Income  
  • Proof of Residence   
     

Benefits of FNB Premier Cheque Account

  • Premier Credit card – personalized and competitive interest rate. 
      
  • WesBank – this is a service offered in the FNB Premier Cheque Account that can assist you to buy a car you may desire to attain. 
     
  • Overdraft – this is short-term financial assistance to help you on unexpected events  
     
  • Home Loans – this service offers you home loans to assist you to build or buy a home of your own. 

Rewards  

  • You get up to 2% back in eBucks for shopping and earn up to 15% back in eBucks when filling up fuel at any fuel station     
  • You can spend your eBucks points at partners like Dischem, Makro or at the eBucks Shop. 
  • With FNB Connect contract or prepaid airtime purchases you can earn up to 15% back in eBucks   

 
Competitive Advantages of FNB Premier Cheque Account  

The FNB Premier Account offers a lot of rewards that are cashback in a lot of ways through eBucks.

You can use these rewards to attain a lot of essentials like groceries and fuel. It is among the best Banking Accounts.

The Account also offers services that are convenient for the clients such as the spousal account which allows your spouse to attain the same great Premier Account services and offers regardless of their income qualification.  

Competitive Disadvantages of the FNB Premier Cheque Account   

The big disadvantage of this Account is that it can only be offered to individuals with an income of R300 000 – 749 000 per annum. This shuns out interested clients who might not be earning such an income.  

The Young professionals Premier Account is offered to limited professions. This only opens up an opportunity to get the Account to a limited number of people.

Conclusion  

The Account is ideal if one can afford it, with many benefits and rewards. If you find it ideal for you, you can go ahead and apply online on the website and start enjoying the benefits and services offered by the Premier Account.

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