First National Bank (FNB) is one of the country’s big four banking institutions. Established in 1838 with revenues of 15,034 million in the year 2014, FNB has distinguished itself by offering cutting edge and innovative products to its clientele. One of the products to have affected the banking landscape are the Global Accounts.
FNB Global Accounts make offshore investment easy, simple and convenient.It allows you to hold your individual foreign allowance in the currency of your choice. With a Global Account, you can also invest in one of the currencies on offer via your FNB Cheque Account, make payments to offshore beneficiaries, keep funds relating to your authorised offshore assets in foreign currency, set up and manage offshore beneficiaries as well as view balances and transaction history. Benefits which come with this account include the fact that there are no monthly fees and you can earn interest on this account.
To open a Global Account, you must be a South African resident, be a tax payer, be 18 years or older and be a holder of a qualifying FNB Cheque Account which is in good standing.
This account can be opened online or by calling FNB and trained consultants will be on hand to assist.