Banking rewards programmes like FNB’s eBucks offer a great way to save on tech purchases by accumulating cash back. However, if you’re not with FNB, a rewards programme like Nedbank’s Avo Points offers this to all South Africans.

Banking rewards programmes usually offer clients discounts and cashback — or one of the two.

Discounts and cashback rewards can be earned from partnered stores, with the latter often taking the form of a virtual rewards currency, such as Discovery Miles or eBucks.

Capitec and Absa are the only banks that pay users’ rewards in rands.

Users can spend the virtual currencies they earn at partnered stores, such as Checkers or DisChem, or reward programme-specific stores, such as FNB’s eBucks Store.

Therefore, reward programme partners can be divided into earning and spending partners.

FNB customers have access to 31 earning partners, allowing them to generate eBucks to spend at one of 21 spending partners. Three of these sell tech: Takealot, the HP Store and the iStore.

Alternatively, eBucks can be spent at the eBucks Store, which offers users two ways of purchasing items: with eBucks or by receiving a discounted premium on budget transactions.

If users want to purchase tech using eBucks accumulated over time, they can do so on the eBucks store and receive a discount based on their discount level.

For instance, the Samsung Z FLip 4 retails on the eBucks Store for R20,999 (eB 209,990), which is then discounted. It can then be bought using rands or eBucks—but not both.

The total discount one can receive from spending eBucks is limited to R5,000 per year, meaning one can only spend eB 50,000 per year.

For eBucks users level three and higher, FNB offers a discount of up to 40% off on smartphones and fitness devices when using an FNB Premier Virtual Credit Card or an FNB Premier Fusion Virtual Card.

Purchases made on an FNB credit card will be paid over 24 months.

Best way to get cheap tech in South Africa
Nedbank’s Avo Supershop

Nedbank’s Avo rewards programme is similar to eBucks.

Users also earn cash back as a virtual currency, Avo Points, which they can then spend at Nedbank’s Avo SuperShop.

However, the Avo SuperShop, unlike the eBucks store, is available to all South Africans.

Users can use any bank to purchase items from the store and sign up for the Avo Points rewards programme. For instance, anyone can buy a 13-inch MacBook Air M1 from the Avo SuperShop for R15,999 — a 6% discount from its original price.

This can be useful for customers from different banks who want to sign up for a spending rewards programme without having to switch banks.

Avo Points users can receive a further 10% off and pay R14,299. Because this is not part of Nedbank’s official rewards programme, Greenbacks, there is no tiering reward system.

For every R100 spent on the App, users will get 1 Avo Point. Each Avo Point represents a R1 reward.

Nedbank customers using the Greenbacks programme can receive 2% back on the Avo SuperStore.

The Absa rewards programme is far more limited in its access to tech deals and discounts.

Capitec and Absa’s rewards programmes provide users with cash in return for spending at their partnering retailers.

Although neither offers discounts on tech products, Absa has multiple earning partners from which tech lovers can earn, including Spotify, Roblox, PUBG, Steam, Google Play, the PlayStation Store, the Xbox Store, Netflix, and Showmax.

Standard Bank’s UCount rewards programme also doesn’t provide users with tech-related discounts but does have tech spending partners.

UCount clients can redeem their points at Makro, Samsung, Hirsch’s, and Showmax.

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