Advice needed!!! doing a side hustle with an FNB easy account

Lorgat Computers · Dec 6, 2021

So I recently started a side hustle (selling computers, repairing, diagnosing, building and upgrading) but I have a normal FNB easy account and quite a bit of money is going in and out of there

FNB hasn't told me anything yet but I'm worried they will soon, I'm not registered as a business as I'm studying and this is something on the side

should I just leave it or open a separate business account? (if possible)

Advice will be appreciated

EELeat · Dec 6, 2021

You should be fine.
They'll let you know as a suggestion if you need to upgrade/change your account.

Lorgat Computers · Dec 6, 2021

FunKiller said:
You should be fine.
They'll let you know as a suggestion if you need to upgrade/change your account.

thanks so much, appreciated

WEST · Dec 6, 2021

You will be fine

valiente · Dec 6, 2021

Also believe you will be good - Sars have bigger fish to fry...

On that note, anyone know how I can add an Easy Account (Or Any Cheap/Free Account) to my FNB portfolio?
I want a separate account for Body Corporate duties - 3 Houses so no big deal but still want it separate from my daily accounts...

Oj0 · Dec 6, 2021

valiente said:
Also believe you will be good - Sars have bigger fish to fry...

You would think, wouldn’t you? I’ve been struggling to get them off my back for around R 250 (which I have paid).

skylix001 · Dec 6, 2021

valiente said:
Also believe you will be good - Sars have bigger fish to fry...

On that note, anyone know how I can add an Easy Account (Or Any Cheap/Free Account) to my FNB portfolio?
I want a separate account for Body Corporate duties - 3 Houses so no big deal but still want it separate from my daily accounts...

Open a savings account from the app.

Sent from my SM-N950F using Tapatalk

valiente · Dec 6, 2021

skylix001 said:
Open a savings account from the app.

Sent from my SM-N950F using Tapatalk

I tried this...

Gives me an error that I do not meet the qualifying criteria for this product

Could be since I already do have one? Can't have multiple?

valiente · Dec 6, 2021

Oj0 said:
You would think, wouldn’t you? I’ve been struggling to get them off my back for around R 250 (which I have paid).

Last year I had a scare when all my International Spend was blocked - On all cards across different banks...

Long story short, SARS & Reserve Bank told me that I had exceeded my Discretionary Allowance - When asked on what, they simply replied with Crypto Currency...

Took them about 2 weeks to eventually unblock everything and simple responded with The accounts have been restored.
No apology, no reason...

Couldn't pay for my flights, couldn't buy on Amazon or any International Site, couldn't even go and buy Euros from FNB themselves....

ThatPCGuy · Dec 7, 2021

EAGLE TECH said:
So I recently started a side hustle (selling computers, repairing, diagnosing, building and upgrading) but I have a normal FNB easy account and quite a bit of money is going in and out of there

FNB hasn't told me anything yet but I'm worried they will soon, I'm not registered as a business as I'm studying and this is something on the side

should I just leave it or open a separate business account? (if possible)

Advice will be appreciated

I did the very same thing when I was at varsity, with the very same account. FNB called me and said I qualify for an upgrade to a Gold Cheque, I declined and said I am happy paying almost no bank fees. You'll be fine.

Kav33r · Dec 7, 2021

ThatPCGuy said:
I did the very same thing when I was at varsity, with the very same account. FNB called me and said I qualify for an upgrade to a Gold Cheque, I declined and said I am happy paying almost no bank fees. You'll be fine.

At least they called you. They just upgraded me to a much higher account type without even asking. I was still at varsity at the time and got a shock realising I was paying account fees of ~R300.

ThatPCGuy · Dec 7, 2021

Kav33r said:
At least they called you. They just upgraded me to a much higher account type without even asking. I was still at varsity at the time and got a shock realising I was paying account fees of ~R300.

Woah, that's unlucky. Also don't think they're allowed to upgrade you and charge without your consent.

BrilliantTech · Dec 7, 2021

Some advice. If you are spending more than 50k per month, I would upgrade to Private Clients for the sake of eBucks. Even if you spend more than 50k stick with Private Clients as I believe you can earn the most by being on the PC account.
With PC you can earn R1500 worth of eBucks every month just with Smart Spend. Additionally, you can earn up to 15% of your spend back in eBucks from FNB partners. The amount of eBucks you can earn will cover the monthly account fee and you will have extra to use or sell.

valiente · Dec 7, 2021

Got a super lengthy call from FNB today regarding opening an Easy Account...

About 15-20 minutes later all is done and I open the FNB APP and my new R5 pm account is there.

ELEMENTS · Aug 21, 2022

Lorgat Computers said:
So I recently started a side hustle (selling computers, repairing, diagnosing, building and upgrading) but I have a normal FNB easy account and quite a bit of money is going in and out of there

FNB hasn't told me anything yet but I'm worried they will soon, I'm not registered as a business as I'm studying and this is something on the side

should I just leave it or open a separate business account? (if possible)

Advice will be appreciated

I would say that you should stay with what you have now, once your business has taken on a bit more work and it becomes more of a full time income and not just a side hustle, that's when you look at the business banking, just remember that the business banking fees cost a bit more then your normal savings account.
Good luck with your business and i hope you get to do this full time soon.

treehousersa22 · Aug 21, 2022

Lorgat Computers said:
So I recently started a side hustle (selling computers, repairing, diagnosing, building and upgrading) but I have a normal FNB easy account and quite a bit of money is going in and out of there

FNB hasn't told me anything yet but I'm worried they will soon, I'm not registered as a business as I'm studying and this is something on the side

should I just leave it or open a separate business account? (if possible)

Advice will be appreciated

It should be fine, as you still a student

Lorgat Computers · Aug 21, 2022

Appreciate all the advice

I ended up opening an FNB first business zero account at the start of the year, fees are like 5 bucks per month and you don't need to be registered (it's basically for small traders)

I'd recommend it to other Carbies currently using their personal account for any side hustles

Advice needed!!! doing a side hustle with an FNB easy account

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