More than lifestyle perks: What defines real value in a premium bank account?

When bank account pricing works in your favour, it improves how useful your account is to you. For many South Africans, salaries aren’t keeping up the with rising cost of living. Even with a decent income, fuel prices still jump unpredictably, food remains expensive and essentials like electricity and data are no longer optional. Garth Keshwar, FNB’s head of retail core banking, says many of these pressures are changing how people view their bank accounts. “What today’s customer is looking for is no longer just about having a bank account, it’s about whether the one you have actually gives you enough back in your pocket so you can meet your life needs.” With this in mind, Keshwar says there are five things to look out for when you’re deciding whether a premium bank account is worth paying for. 1. You should get more value than you’re paying for Your bank account should deliver more value, not just charge more. FNB Premier customers get the first R6 000 of their monthly real-time payment transactions covered before fees kick in. After that, fees are capped, so they don’t spiral. The result is that nearly 90% of customers pay less per transaction than before, with many saving between R30 and R40 each time they transact. “At this level, we see that customers are using their bank accounts a lot more. So, the pricing must work in their favour. If most customers are saving on every transaction, that’s when you know that the account is working for them.” In simple terms: The more you bank with Premier, the more value you unlock from your monthly fee. 2. You shouldn’t have to think about every swipe or payment When bank account pricing works in your favour, it improves how useful your account is to you. With the monthly buffer built into the FNB Premier account, customers can make everyday payments and transfers without having to stop and calculate the cost of every swipe. “It gives customers breathing room,” says Keshwar. “You’re not watching every rand or holding back on payments. You can just bank normally without stressing about getting charged every time.” 3. Your monthly fee should cover how you actually bank As your life gets more complex, so do your banking needs. More payments. More transfers. More moving money around. A good premium account should cover that without adding extra costs. With FNB Premier, your monthly fee includes things like debit orders, card swipes and digital transactions, so you’re not charged each time you use your bank account. “Customers don’t want surprises. They want to know what they’re paying each month and not worry about extra charges on top of that.” In simple terms: You pay once, and most of your everyday banking is covered. 4. Rewards should help you with real expenses Rewards only matter if they save you money. With FNB Premier, you earn eBucks when you spend on things you’re already paying for, like groceries at Pick n Pay, fuel at Engen, and travel with partner airlines (like FlySafair, Arlink, Lift, Emirates and AirFrance/KLM), plus car rental partners like Avis. You can then use those rewards for things like airtime, electricity, flights or even pay your monthly bank fees. “Rewards need to reflect real life,” shares Keshwar. “When they help with groceries, fuel and travel, they stop being a bonus and start making a real difference.” In simple terms: You get money back on things you already need to pay for. 5. Your bank should help you stay in control of your money A good bank account shouldn’t just move your money. It should help you understand it. Through the award-winning FNB Banking App, Premier customers can see what’s coming in, what’s going out, what’s left after bills, and where their money is going. Additionally, customers have access to innovative digital banking tools and free 24/7 access to a team for FNB Premier Advisors to help them manage their money. “People want clarity. They want to see what’s happening with their money and make better decisions, without needing complicated tools.” In simple terms: Your FNB Premier Account gives you the tools and support to stay in control of your money, every day. The bottom line As you progress in your financial standing, a premium bank account shouldn’t just give you more features. It should make your money work better for you. That means: One monthly fee gives you access to a bundle of banking benefits More everyday banking is included in your monthly fee You earn rewards and enjoy added value every day Digital tools and Premier Advisors help you stay in control The more you bank with Premier, the more value you unlock In today’s economy, a premium bank account must earn its keep. Real value shows up in lower costs, everyday rewards and clear control over your money. When banking works the way you live, the monthly fee starts to make sense. “Premium should feel practical,” concludes Keshwar. “If an account helps you manage daily costs, rewards real spending and gives you visibility over your money, then it’s doing exactly what it should be doing.” Content supplied by our select Partners and paid for content ad advertisement.