The Nedbank Greenbacks rewards programme is designed to turn everyday transactions into real value for South Africans. Cardholders can earn up to 2% cashback on routine spending, plus access headline benefits like discounts at retailers, movies, and travel bookings. There are no expiry dates on Greenbacks, providing flexible accumulation and redemption tailored to individual needs.

Rates and limits vary based on your level, which is determined by banking activity and usage. Conditions include having a qualifying transactional account and meeting monthly spending or transaction targets. The standard membership fee is R32 per month, while certain Nedbank bundled account holders enjoy waived fees.

How to Apply for Nedbank Greenbacks

1. Ensure you have a qualifying Nedbank transactional account or open one if needed.
2. Register for Greenbacks membership through the Nedbank Money app or online banking platform.
3. Verify your income is paid into your Nedbank account and meet minimum spend or card transaction thresholds monthly.
4. For bundled MiGoals Plus, MiGoals Premium or Private Clients, confirm if you are eligible for complimentary Greenbacks membership.

Benefits Overview

Greenbacks offers a flexible rewards structure. Earn cashback on all card spends, with up to 2% if you use an American Express-linked Nedbank card.

Cardholders access up to 30% discounts on flights, and up to 10% off Samsung and Apple devices when shopping via Greenbacks partners.

Drawbacks to Consider

The Greenbacks membership fee of R32 monthly applies unless you hold specific bundled accounts.

Reward earnings, rates, and redemption eligibility depend on reaching activity levels, so less active clients may see limited benefit.

Final Verdict

Nedbank Greenbacks is best suited for those who frequently bank, shop and travel. The rewards are meaningful and redemption options are varied.

Be sure to weigh the monthly cost against your expected usage and consider your preferred partners to maximise value from the programme.