Capitec and Nedbank to launch fuel rewards

Capitec and Nedbank have finally started their fuel purchase rewards. Out of all our major banks in South Africa, they are the last banks to do so.

FNB was one of the first banks to introduce rewards that were based on fuel purchases as a part of their eBucks rewards in 2010. Absa and Standard bank followed hereafter with their Absa Rewards and Count.

MoneyWeb states that Clicks began its Clubcard member points for filling up at shell in 2016. However, this ended in November 2019 with their partnership that shifted to Engen. Dis-Chem decided this was too a good idea end of the 2017 year and partnered with Total.

Nedbank brought back their Greenbacks rewards now with three different packages that are linked to certain Nedbank products including daily money management and loan customers.

All account holders have to activate Greenbacks and opt in to Card Swiper. Only one, Card Swiper, earns customer money back at BP petrol stations.

However, it is free for clients with Optimum, Savvy Plus Gold, Savvy Bundle and Nedbank Professional bank accounts. Any other customer will pay a fee of R24 per month.

A Greenbacks Card Swiper client will earn a cashback of 25c per litre as the bank confirms that there are “no complex rules or loyalty tiers.”

Capitec teamed up with Shell who runs their own V+ rewards after they no longer were partners with Clicks and its Clubcard. Capitec will now offer drivers instant cash rewards of 15c per litre and 0.5% on certain items in Shells stores at petrol stations except for airtime and tobacco when swiping their V+ cards.

All Capitec clients will need to register for V+ rewards and when swiping the V+ card and paying for purchases with the Capitec bankcard, customers will earn a 20c per litre back, loaded on to their V+ card at Shell.

But what are the comparisons?

The cashback received of 20c per litre for Capitec’s partnership with Shell are compared to levels that are offered by other banks on their debit cards.

Nedbank’s Greenbacks of 25c per litre is one of the lowest when it is compared to the other earn rates on the credit cards of other banks.

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