The announcement that there will be no fee increases for FNB Entry Market bank accounts for the second consecutive year will be accompanied by new and exciting customer value propositions along with new design black cards.
Entry Market customers earn from R0 -180 000 per annum and have a variety of accounts such as eWallet, Easy Zero, PAYU and Smart Option accounts to cater for their everyday banking needs. As part of FNB’s annual review, the value proposition for entry customers will change effective 1 July 2021 to include weekly grocery coupons, monthly eBucks and FNB Connect data/airtime depending on their bank account. The Bank is also reducing cash withdrawal fees for Entry Market customers on FNB ATMs while Cash@Till remains zero-rated. In addition, the bank will start to roll out refreshed new design bank cards across all its individual banking transactional products.
Philani Potwana, CEO of FNB Entry Market says, “We recognise that money is personal for the everyday South African and that every rand goes a long way to feed their families, take their children to school and support their extended family members. With this understanding, we aim to be much more than a bank for our customers. FNB PAYU customers will on a weekly basis qualify for grocery coupons at Shoprite/Checkers & uSave to purchase grocery items to the value of R15 for only R5. This is as powerful as buying a loaf of bread for R5 every week. Smart Option account holders will now qualify to earn up to R150 back in eBucks every month as well as a R500 annual grocery voucher for customers who bank, save and insure with FNB, a valuable change from the current airtime rewards programme.
eBucks continues to be freely available to customers with no monthly subscription fees applicable. Furthermore, customers who earn eBucks will also be able to use those eBucks to pay their monthly bank fee, allowing them to potentially pay no monthly account fee for their bank account. With data becoming an increasing need, Easy Smart option customers can now also get up to 600MB extra data in FNB Connect spend every month.
“We continue to understand the need for cash within this market, so we’ve ensured that cash withdrawals at retailers remain free at Shoprite/Checkers, Usave, Boxer and Spar. Cash withdrawal fees at FNB ATMs have also been reduced to R7 per R1000 (from R8 per R1000), whereas Smart Option customers will continue to enjoy the R2000 cash withdrawal at FNB ATMs with no additional fees.”
“Our customers have truly become our extended families which is why we’ve brought so much value to their everyday banking solutions. Safety, affordability, accessibility and simplicity remains important to both us and our customers, we therefore have ensured we zero-rate transactions around these key themes. Customers can buy airtime and data, receive payment notifications and withdraw cash at retailers at no extra cost to them. Additionally, where customers need a human voice to assist with their banking needs, they can contact our dedicated service suite for free using their FNB Connect SIM,” concludes Potwana.
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