The Arrive Alive website recently posted an article on “Preventing fuel card fraud“. This created some discussion and several questions from the motoring public. Some say having a petrol card is only to “show off” and that it is not needed if you have a credit card.
We decided to approach some of the financial gurus and gain some insights as to whether there is still value in having a petrol/ fuel/ garage card:
What would we describe as the value of using, for an individual vehicle owner or small business owner with one vehicle, a petrol card instead of just his credit card?
FNB can offer two Petro card options to suit the needs of our customers.
- Standalone Petro: This gives the customer a separate card limit that can be used for fuel, toll gates and car related expenses. The benefits are listed below:
- Separate card limit
- Separate credit card statement to better manage fuel and vehicle expenses
- Easy fuel expenses management for tax purposes
- Free AA Emergency Roadside Assistance
- Personalised interest rates for the customer on their Standalone Petro card
- Linked Petro: The Petro card limit is linked to the credit card limit. Linked petro cards make it easy for the customer or members of their family to pay for fuel and car-related expenses as well as to keep track of all spend in the motor category. The additional benefits are listed below:
- Free AA Emergency Roadside Assistance
- Separate reporting on the credit card statement to better manage fuel and vehicle expenses
- Personalised interest rates for the customer on their Linked Petro card
Is it not safer to use the credit card with pin protection?
FNB Credit Card is in the process of migrating all Petro cards from magstripe cards which require a signature for transaction verification to EMV Petro cards which have the safety of chip and PIN. As our customers’ Petro cards expire, we re-issue them with new EMV Petro cards which are just as safe as credit cards because they have chip and PIN technology.
This technology enables our customers to get increased security against the unauthorised use of their Petro Cards, convenience and added peace of mind. In addition, our new cards have contactless technology which allows customers to make fast and secure payments for low value purchases by simply waving their cards in front of contactless enabled Point-of-Sale (POS) terminals. Customers will also get up to 55 days interest free when using our EMV Petro cards.
What are the differences in banking charges between using a petrol card versus a credit card?
The charges for using the Credit Card and EMV Petro card are exactly the same for purchases. Monthly banking fees differ per product, but we have included details of our Gold Credit Card below.
FNB Gold Credit Card:
- CC monthly fee: R46 (R31 account fee + R15 credit facility fee)
- Linked petro: R18 per additional plastic.
Standalone EMV Petro:
- Monthly fee: R49 (R34 account fee + R15 credit facility fee)
- Additional card fee: R18
Would there be any additional value such as loyalty programmes, reporting tools for tax purposes or ease of use to using a petrol card or why should we use a petrol card?
FNB Petro card customers have access to all the benefits below:
- AA Emergency Roadside Assistance:
Roadside Repair Service
- Re-fuelling petrol up to ten litres
- Restarting a flat battery
- Changing flat tyres
- Key lock-out service
Tow-in Service
- For mechanical or electrical vehicle breakdowns up to a maximum of R1 000
Accident Towing*:
In the event of an accident, the AA’s own towing fleet or an accredited tow contractor fleet of the AA will tow your vehicle from the accident scene to the nearest AA Quality Assured body repairer centre or to a client approved panel shop. This service is available 24/7/365 days a year.
*This service is not covered by FNB. The AA will facilitate the service and it will be for the cardholder’s cost.
Stand by You
-
- Request this service when your car breaks down and an armed security guard will stay with you until the AA patrolman arrives
- In addition to personal protection, this service reduces the risk of hijacking and vandalism whilst you’re on the side of the road
Courtesy Services**
- Car hire
- Overnight accommodation for you and four other passengers
- Transportation or the cost covered for you to collect your repaired vehicle
**Courtesy services are covered up to a maximum of R500 for emergencies occurring more than 100 kilometers from your home.
- Free Automatic Debt Protection to settle the outstanding card debt in the event of death or permanent disability with the option to sign up for FNB’s Top-Up Debt Protection Plan at an additional charge.
- Customers with a linked Petro card can earn up to 15% back on all their fuel purchases when paying with a qualifying FNB credit card. Customers can also spend their eBucks on fuel at any participating Engen service station.
[A word of appreciation to Heetal Govindjee, Head of Product at FNB Credit Card for the assistance received]
Fuel Card Fraud – How can Road users protect themselves from concepts such as card fraud, card skimming, cloning, cybercrime and PIN theft? https://t.co/eruKwFzTFb #ArriveAlive #Fraud #CreditCardFraud pic.twitter.com/PjgYNpuboM
— Arrive Alive (@_ArriveAlive) March 7, 2018