The FNB Gold Business account offers a range of tailored solutions to help small and medium-sized enterprises with a turnover of up to R5 million per year. It’s not just about providing a business account; it’s about giving business owners the tools they need to manage, run, and grow their ventures.

With a focus on providing convenience and digital innovation, FNB’s Gold Business account includes access to digital banking, rewards programs, and virtual cards, all supported by 24/7 customer service. Let’s take a closer look at the key features and benefits of this account, the criteria to qualify, and how to apply.

Key information about the credit card

How does the annual fee work?

The FNB Gold Business credit card has an annual fee, making it essential for business owners to weigh the benefits they gain from the card against this cost. The annual fee can be paid in several installments, depending on the specific terms set by the bank. While the exact fee amount may vary, FNB ensures that the value you receive in terms of rewards, flexibility, and digital solutions compensates for the annual fee.

How is the credit limit determined?

FNB uses a comprehensive approach when determining the credit limit for Gold Business account holders. This is based on the business’s turnover, credit history, and overall financial standing. For standard credit cards, the limit is set by evaluating the business’s ability to meet repayment terms. In the case of secured or revolving loans, collateral or assets may also play a role in determining the limit.

Advantages of the card

• Earn eBucks for Business: Businesses can accumulate rewards points through the eBucks program, which can be used to reduce business expenses or reinvest in the company.
• 24/7 Business Desk support: Immediate assistance is available any time of the day to resolve any issues related to the account.
• Instant solutions: Features like Instant Accounting and Instant Invoicing help businesses manage their books more efficiently.
• Virtual card: The FNB virtual card offers added security and flexibility, allowing businesses to manage payments without the need for a physical card.
• Comprehensive digital banking: The FNB App allows businesses to monitor their account, make payments, and manage transactions anywhere, anytime.

Standout advantage

The standout advantage of the FNB Gold Business credit card is the integration with eBucks for Business. This rewards program allows businesses to earn points on everyday transactions, which can be redeemed for a variety of business-related purchases, such as office supplies, equipment, or even travel. The ability to earn and redeem points specifically for business expenses makes this a valuable feature for companies looking to maximize their spending power and reduce overhead costs.

Disadvantages

• Annual fees: While the card offers a range of benefits, the annual fee may be a consideration for smaller businesses with tight budgets.
• Qualification criteria: Businesses must meet specific turnover requirements, which may limit accessibility for startups or very small enterprises.
• Limited global perks: While the card provides global payment options, it may not offer the same level of international rewards or travel benefits compared to other business credit cards.

A standout disadvantage

The main disadvantage of the FNB Gold Business credit card is the requirement for businesses to meet certain turnover criteria to qualify. This limits access for newer or smaller businesses that may not yet have established significant revenue streams. While the bank provides solutions for startups, these businesses may find it challenging to access the full suite of benefits without first reaching a certain level of financial performance.

Who can apply for this card?

To apply for the FNB Gold Business credit card, businesses must meet specific criteria. Firstly, the business should have an annual turnover of up to R5 million, making this card suitable for small and medium-sized enterprises.

Additionally, applicants must provide proof of registration and other necessary documentation that verifies the business’s legal standing. The owner or authorized representative of the business should have a good credit history, as this will affect both the approval process and the credit limit offered.

Although FNB provides a range of financial services, businesses with negative credit ratings may find it more difficult to obtain this card due to the bank’s risk assessment criteria. Furthermore, it is essential for the business to present a clear financial plan, which will help demonstrate their ability to manage repayments.

How to apply for the FNB Gold Business Card

For the website

You can apply for the FNB Gold Business credit card through the official FNB website. Simply navigate to the business accounts section and select the Gold Business option. From there, you will be guided through the application process, which includes filling out an online form with your business’s details. This process typically takes just a few minutes to complete. 

You will be asked to upload the necessary documents, such as proof of registration, financial statements, and personal identification of the business owner or authorized signatory. Once the application is submitted, FNB will review the details and notify you of their decision via email or a call from a business consultant. This process allows for a fast turnaround time, often within a few days.

Through the app

FNB’s mobile app offers an even more convenient way to apply for the Gold Business credit card. After downloading the app and signing in with your business account details, navigate to the section for business credit solutions. You can initiate the application process directly from your smartphone. 

The app allows you to upload documents by taking photos with your device, making the process even more efficient. Additionally, you can track the status of your application in real-time and receive instant notifications once your card has been approved. With its intuitive interface, the app simplifies the entire process, making it accessible even to those with limited banking experience.

At the branch

For those who prefer a more personal approach, FNB also offers the option to apply for the Gold Business credit card in person at one of their branches. Simply visit the nearest FNB location and request assistance with the application process. A business consultant will walk you through the necessary steps, helping you gather the required documents and submit your application. 

This method may take slightly longer than the digital routes but provides an opportunity to ask detailed questions and receive personalized advice from a professional. In some cases, the business consultant can also offer insights into other FNB business solutions that might be beneficial for your company.