FNB in bid to phase out petrol cards

FNB wants its petrocard clients – cheque and credit – to use their debit cards instead when they buy fuel for their vehicles.

That’s why they’ll be charging R10 a month from July 1 if it is linked to a cheque account.

The move is a bid by the bank to phase out the use of petrol cards as they claim that they are costly to the bank and no longer necessary.

James Fowle, pricing executive for the bank, said there were two types of petrol card: those linked to a credit card carry an annual charge of R125, whereas a petrol card linked to a cheque account costs R3.80 per transaction. An FNB debit card costs R2.75 per transaction to pay for petrol.

Fowle said FNB had sent e-mails and letters to its clients informing them about the change.

Clients who chose to hold on to their cards, and continue using them, would pay R10 a month on top of the R3.80 transaction. - The Star