So you have done the research and found the bank account that will suit your needs the most, but now that you have opened the account are you taking full advantage of the benefits your bank offers you?

As a way to entice you to open an account, banks find ways to reward you for banking with them by throwing in some extra benefits. We have taken a look at four of the banks in South Africa, FNB, Nedbank Absa and Standard Bank and the benefits that they offer you.

FNB eBucks

We have two words for you: eBucks rewards. Simply put, eBucks are virtual monetary rewards that you earn when you swipe your FNB credit or debit card at certain stores affiliated with FNB such as Dischem, Takealot.com, Yuppiechef, Checkers etc. You can also earn eBucks when you fill your car up at any Engen station. The amount of eBucks you earn is worked out on a percentage basis and is dependent on what account you have with FNB as well as which store you are swiping at. As you start earning your eBucks you can now spend them at different stores such as Takealot.com, Yuppiechef.com and even to purchase petrol at Engen. eBucks even have their own online store where you can buy from. An added bonus is that you can use your eBucks to buy airline tickets or hire a car.

Nedbank Greenbacks

The rewards programme that Nedbank uses is called Greenbacks Rewards Programme which works in a similar manner to FNB eBucks in the way that you earn your Greenbacks rewards every time you swipe your Nedbank credit or cheque card that has been linked to the Greenbacks Rewards Programme. All the Greenbacks you earn are automatically loaded onto your Nedbank Greenbacks shop card as cash and can be used in-store or online at any merchant that accepts American Express. You can also transfer your rewards to another Greenbacks member for free.

Absa rewards

The Absa rewards programme is divided into three categories: cash rewards from Absa, cash rewards from partners and rewards from Absa at Sasol. With the cash rewards from Absa you will only receive cash back on the first R200 000 that you spend on your Absa cheque or credit card during an accrual period; i.e. from the 16th of a month to the 15th of another. The percentage of cash rewards you will earn is worked out based on a tier formula. With the cash rewards from partners, Absa has teamed up with stores such as Waltons, Luminox, Kulula and Europcar where Absa members can earn cash back for swiping their Absa cards at the stores. By swiping your Absa card at one of these Rewards partners you could earn up to 30% cash rewards or qualify for discounts by simply being an Absa Rewards member. Like FNB eBucks, the percentage that you earn per transaction depends on the rewards partner you swipe at and what level tier you fall under. Another added bonus from the Absa rewards programme is that you are guaranteed 5% cash back rewards when you fill up at any Sasol or purchase food from the Sasol convenience store.

Standard Bank uCount rewards

The uCounts rewards programme allows you to earn cash back when you swipe your Standard Bank personal debit/cheque card or credit card at certain partners. Every time you use your card you will collect rewards points which you can redeem for a variety of items – including fuel from participating Caltex garages. You can earn up to 10% back on grocery shopping from stores such as Checkers, Makro, Woolworths and Food Lovers Market. You also earn up to 1.25% when you swipe your card for other everyday purchases. Once you have accumulated a sufficient amount of points you can use them for purchases from Standard Banks online mall or travel mall.

Make sure you do the research to see what benefits your bank offers you because with rewards like these, you don’t want to miss out.