Nedbank Greenbacks holders can donate points to COVID-19 Solidarity Fund

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In addition to its various efforts to provide relief and support to people affected by the COVID-19 pandemic, Nedbank has now empowered its clients to contribute by donating their Greenback points to the COVID-19 Solidarity Fund.

 

In 2019, with the intention to assist clients in making better money choices and bank towards their best future, Nedbank introduced its new Greenbacks money management programme, giving clients three key incentives – loyalty rewards, partner benefits and support for worthy causes.

 

The programme was designed to assist and motivate clients to make better money choices that resolve the core financial challenges that individual consumers face – while also aligning to the essence of the Nedbank brand.

 

“During this time, some South Africans are in a better position to help, while others face increasing pressure due to the economic fallout of the National Lockdown,” says Dharmesh Bhana, Executive Head of Loyalty and Rewards at Nedbank. “While some people are just getting by, they might also have access to accumulated Greenback points that can make a bigger difference to others facing more severe consequences of the sudden halt in economic activity.”

 

The Solidarity Fund is a vehicle set up by the South African Government to enable the international community, citizens and businesses to contribute secure, tax-deductible donations towards efforts to relieve the impact of the national disaster brought on by the COVID-19 pandemic. The funds collected will be used for the to acquire personal protection equipment for frontline healthcare workers, provide humanitarian assistance to those most vulnerable and mobilising citizens in unified action to flatten the curve and manage the pandemic and its impacts on households and communities. 

 

“As our country faces one of its toughest challenges yet, the Solidarity Fund has represented that beacon of hope where all of us as South Africans have come together to lend a hand towards fighting this common enemy. It’s a great example of how we can to work together. Everyone contributing is making a difference, no matter the size of that contribution,” said Nomkhita Nqweni, CEO, Solidarity Fund.

   

To contribute, Nedbank clients need to login into the Money App and follow these easy steps:

  • Select “Rewards – Greenbacks”
  • Select “Redeem”
  • Choose “Donate to Solidarity Fund”

 

Alternatively, clients can log into nedbankgreenbacks.nedsecure.co.za and follow these steps:

  • Click on ‘Donate point’
  • Select Solidarity Fund
  • Enter the amount of points you want to donate
  • Click “add to cart” to make donation.

 

To date, Nedbank has collectively contributed R15 million to COVID-19 relief efforts, including R3 million in Nedbank staff contributions to the Solidarity Fund and a direct contribution R12 million. This direct contribution comprises R7 million, which was donated to the Solidarity Fund and the remainder towards targeted community initiatives. As of the beginning of May, Greenback points currently on the system are significant and could add substantially to the Solidarity Fund.

 

“The Nedbank Greenbacks option will offer clients a very real way to directly contribute to national efforts to help South Africans in need,” says Bhana. “At the same time, this option does not place a direct financial burden on people’s budgets. Donating Greenbacks allows clients to continue to practice good money management practices while doing good at the same time.”

 

During the crisis, the bank offered clients that have an overdraft facility a temporary rebate equivalent to a 100 bps or 1% interest rate reduction on the utilisation of their overdraft facility. Those with loans have also been given an opportunity to access the latest debt relief solutions, including deferment of the monthly loans instalments or restructuring of the loan to reduce the monthly instalment.

 

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