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2023-01-26 6:33 PM

Nedbank Greenbacks Rewards Program Review 2023

By Lethabo Ntsoane

Nedbank Greenbacks is a banking reward program offered by Nedbank for R27.00 per month. Members can earn up to 1.1% cash back at participating merchants through the rewards program. Members also get R0.25 back per litre when they fill up at any BP petrol station.

Greenbacks members who save have the chance to win up to R50,000.00 each month. Furthermore, by paying your monthly loan account, such as a home, vehicle, or personal loan, you can win the balance of your loan up to R1.5 million.

Nedbank Greenbacks are awarded to members who use their Nedbank check or credit card. Members earn points when they make certain purchases with their cards. 

Rewards can be used to purchase plane tickets, vacations, online and in-store shopping, prepaid purchases, and a variety of other items. Members can also use money in the Greenbacks account to make donates to charity of their choice. 

The Nedbank Greenbacks rewards program offers monthly earning opportunities for a small fee. Below, we look at how to earn Greenbacks points and rewards.

How The Nedbank Greenbacks Work

The Nedbank Greenbacks program is divided into several packages, each of which is linked to a specific Nedbank product or account. Nedbank services include that are part of the Greenbacks rewards program include vehicle financing, transactional accounts, home laons, credit cards, and personal loans.

Greenbacks members earn rewards and Greenbacks points for banking responsibly. Spending habits, loan repayments, and other good banking behaviour can earn you points and rewards.

There are 4 main ways to earn rewards and Greenbacks points through the Nedbank Greenbacks rewards program. The methods for earning Greenback rewards are discussed below.

1. Greenbacks Card Swiper

Greenbacks card swiper offers discounts on certain swipes made with a Nedbank credit card or transaction account. Credit card and cheque account holders can earn up to 1.1% cash back in Greenbacks when they pay in store or online through Greenbacks card swiper.

Members can also get a 50% discount on Nu Metro movie tickets by using their Greenbacks card swiper. Members can also get double Greenbacks when they use their Nedbank American Express Card to pay.

Here are the benefits of greenbacks card swiper:

  • Get to earn surprise Greenbacks when you swipe regularly.
  • By using your card to transact you pay in a more secure way than using cash as a means of transacting.
  • You get access to Greenbacks partner deals, coupons, discounts, vouchers and entries into competitions.
  • Support a worthy cause that you are passionate about with Nedbank Affinity at no cost

2. Greenbacks Money manager

Greenbacks Money Manager is a reward system that rewards Nedbank account holders for spending their money wisely. The reward system monitors how an account holder manages his or her money. Money Manager provides exclusive discount deals from partner stores. 

Here are the benefits of the money manager option:

  • Earn surprise Greenbacks when you make regular deposits into your account and use Nedbank’s digital channels to do your banking.
  • Get access to exclusive partner deals, coupons, discounts, vouchers and entries into competitions on the Greenbacks app.
  • Use your Greenbacks to pay your bank fees. which is up to R100 per transaction.
  • Support a worthy cause that you’re passionate about with Nedbank Affinity, at no cost to you.

3. Greenbacks Responsible borrower

Members who are responsible borrowers and are able to manage their loans can earn up to R1.5 million towards repaying their loan with Greenback Responsible Borrower. Members are also given advice on how to manage their debt and keep it under control. As a member, you will be able to maintain a good credit score by utilizing the resources available. Additionally, if you adhere to and follow the recommendations, you will receive better interest rates over time.

Here are the benefits of the responsible borrower:

  • Stand a chance to win a portion of your Nedbank personal, home or vehicle loan.
  • Get access to exclusive partner deals, coupons, discounts, vouchers and entries into competitions on the Greenbacks app.
  • Support a worthy cause that you’re passionate about with Nedbank Affinity, at no cost to you.

4. Greenbacks Structured Saver

Greenbacks Structured Saver members can save money while also having the chance to win up to R50,000.00 each month. Members are automatically entered into monthly money competitions when saving money.

To be eligible for the R30,000.00 prize, a member must save monthly into any qualifying investment account. Furthermore, members who save monthly using a debit order or stop order can win an additional R20,000.00.

How to join the Nedbank Greenbacks Program

  • If you are a Nedbank client you can join the Greenbacks rewards program by clicking here. Then when you get on the Greenbacks website tap on “join Greenbacks”.
  • If you are not a Nedbank client then you can visit your nearest Nedbank branch to open an account to start your membership registration.


The Nedbank Greenbacks rewards program is one of the most popular banking rewards program and offers countless rewards and discounts. To benefit more from the Greenbacks rewards program, you need to understand how the program works and follow the ways of earning rewards.

Frequently Asked Questions

1 What is The Nedbank Greenbacks Rewards program?

The Nedbank Greenbacks Rewards program is a point-based rewarding system that rewards for better money management.

2. Does the Nedbank Greenbacks rewards program charge monthly fee?

If you are a Nedbank Greenbacks rewards program member you are supposed to pay a monthly fee of R27 but it is applicable to card swiper only. However, if you hold an Optimum, Savvy Plus Gold, Savvy Bundle and/or Nedbank professional banking accounts card swiper is for free. Money manager and responsible borrower are for free.

3. What is Card Swiper?

Card swiper is a Greenbacks program package that allows members to earn Greenbacks using their Nedbank card.

4. What should I do to earn Greenbacks?

To earn Nedbank’s Greenbacks, you need to have an account with Nedbank and link it with one of the four Greenbacks packages.

5. What is money management?

Money management is a package from Nedbank’s Greenbacks program that encourages members to maximize how they manage through everyday banking.

6. Does Greenbacks have a card?

Yes, the Greenbacks rewards program does have a card of its own. To earn Greenbacks you need to have a Nedbank credit or debit card and link it with your favourable Greenbacks package.

7. Where can I shop using Greenbacks rewards points?

You can shop at a number of outlets with Greenbacks rewards points. You can shop for electronics, Healthcare, kitchen and home, gaming, prepaid, gift vouchers and more.

8. How do I apply for a Greenbacks shop card?

To apply for a Greenbacks shop card you can start your application here. Make sure to have your ID number, Greenbacks membership number and address.

9. What is Responsible Borrower?

Responsible Borrower is a package within the Greenbacks program that allows members to manage and stay in control of their debt.

10. Can I get Greenbacks reward points on an American Express card?

Yes, you get Greenbacks reward points on the American Express credit or cheque cards. In fact, on the card swiper package if you swipe with an American Express card you get double Greenbacks points.

11. How do I claim my Greenbacks reward program logins?

As a Nedbank cardholder and Greenbacks rewards member, you need to register for internet banking or mobile app. After registering you will get access to the Greenbacks rewards program.

12. Is it possible to join Greenbacks rewards program as a non Nedbank client?

Unfortunately, the Greenbacks rewards program is only limited to Nedbank account holders or product holders.

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Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted: Email: lethabo@rateweb.co.za Twitter: @NtsoaneLethabo

Tags: Nedbank

View Comments

  • Its a terrible program, have been earning greenbacks for years and redeeming has now become a nightmare. I have the shop card, fair enough I can use it at many places, however I would like to purchase from the greenbacks store. Nobody at Nedbank knows what they're talking about ito support and I've been sent from pillar to post to try get one simple purchase done that has to be done through the app. If you have a "new" greenbacks account / have been transferred to the "new" account you can't make purchases online. The greenbacks app won't allow yo to log in with your nedbank details and, like I mentioned, there apparently is no technical support for greenbacks so you get loads of different suggestions from nedbank support staff that does not resolve simple issues at hand. Good luck nedbank, this one is surely flop!

  • I have Two Questions
    Should I not be earning Greenback points for the purchase of Petrol with Nedbank Garage Card.
    Can you earn green back points with the purchase of petrol on a Credit Card ?
    I have a personal Banker who has taken more than three weeks to answer this question and I am still waiting. Clearly Nedbank do not train their staff on there own products and there is a very low work ethic at Nedbank .and the staff are not working well from home. I will forward emails to assist you with performance reviews.