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FNB increases private banking fees, launches new mid-market account


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A monthly subscription is charged pro rata, based on the day of purchase. This is non-refundable and includes a R5 once-off sign-up fee.
A yearly subscription is refundable within 14 days of purchase and includes a 365-day membership.
The bundle pricing on Fusion Premier will increase from R209 to R219 a month, on Fusion Private Clients from R385 to R399 a month, and on Fusion Private Wealth from R470 to R499 a month. These are increases of between 3.6% and 6.2%. Monthly fees of the non-Fusion products will also increase.
Fees of entry-level Easy Zero (no monthly fee), Easy PAYU (pay-as-you-use) (R4.95pm) and Easy Smart (R59pm) accounts remain the same. Cash withdrawals at ATMs on Easy Zero and Easy PAYU accounts have been reduced from R8 per R1 000 to R7 per R1 000 (up to a limit of R2 000). ....

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Discovery Bank launches Referral Programme


In the first of its kind among South African banks and financial institutions, Discovery Bank will give clients the functionality to invite friends and family to sign up to the Bank – and for both clients and friends to get rewarded in the form of Discovery Miles, creating an eco-system of shared-value.  
“Internationally, some of the most successful technology-driven businesses, such as Airbnb and Uber, have reached unprecedented scale from “digital word-of-mouth” referrals and, at Discovery, we’ve always believed that our clients should be our greatest ambassadors as they experience our products first hand. Our banking platform is designed to offer an exciting user experience and facilitates a digital network where the rewards of shared-value banking can be multiplied across our client base – which is the foundation of Friend Referral Rewards,” says Discovery Bank CEO, Hylton Kallner.  ....

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