South African bank First National Bank (FNB) is widely regarded as the most innovative bank in the country. A pioneer of digital banking in South Africa, over the years the bank has introduced a range of banking solutions designed to make the banking process simpler and more efficient, allowing clients to save time and money.
When FNB eWallet was introduced to the market in 2009, it was designed to be a service that caters both to the banked and unbanked.
Part of the strategy is to increase the accessibility of financial services to all South Africans.
According to CEO of eWallet Solutions at FNB, Yolande van Wyk, FNB eWallet is “aimed at providing safe, simple and reliable money transfer solutions for the average South African, an ideal alternative for quick person-to-person funds transfer”.
Why use FNB eWallet to send and receive money?
The service is available to anyone with a valid cellphone number in South Africa, as well as neighbouring countries Botswana, Swaziland, Lesotho, Zambia and Namibia.
This can be used via cellphone or online banking, the FNB banking app or FNB ATMs. Individuals can deposit cash into an eWallet at an FNB ATM using a valid SA cellphone number.
For non-FNB customers, you can take your I.D to any FNB EasyPlan branch and register once-off.
Transfers cost R9.50 each and collecting money is free for the first withdrawal. Recipients need a cellphone number and PIN to collect.
The cash is available immediately and you can send up to R1000 per day.
Since it was first introduced on the market, there have been over 500 000 eWallets, with an average of r2 million being sent on a daily basis.
To find out more about how you can benefit from FNB eWallet, visit www.fnb.co.za