Home Finance FNB eWallet sent R28 billion in the last 12 months

FNB eWallet sent R28 billion in the last 12 months

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FNB eWallet remains an important way for consumers to transfer money in the course of a global pandemic that has placed a strain on family incomes.

With R28 billion sent in the last 12 months through 7.3 million active eWallets, FNB eWallet is extremely popular choice among South Africans.

On a monthly basis, FNB processes close to R2.5 billion and over 4 million eWallet transactions.

FNB Retail and Private Banking CEO Raj Makanjee asserts that eWallet is a success story of substantive banking services because it enables consumers to transfer money to anybody with a mobile phone number.

FNB has increased the number of customers who can benefit from sending money via eWallet in the last two years by allowing many more customers, especially Easy Smart accountholders, two free eWallet sends every month.

There are no fees for recipients to withdraw funds, making this a logical way to send or receive cash.

Unlike third-party transfer funds solutions, which require customers to go to a separate platform to pay their wallet, our customers complete the entire process on our trusted central digital service.

Easy Zero cardholders receive a free debit card, free card swipes, and free cash deposits up to R1 500 each month, as well as no fees when purchasing airtime or data via FNB’s banking platforms.

Customers can also get unrestricted Cash@Till withdrawals at stores like Shoprite, Checkers, Pick n Pay, Boxer, and designated Spar shops.

Easy Zero was created by FNB as a value store for customers with minimal banking needs. FNB also offers Easy Pay-As-You-Use and Easy Smart accounts to our Entry Banking customers, all of which have many advantages.

The growing popularity of FNB’s offerings demonstrates their ability to meet the needs of their customers at all phases of life.

Bundled accounts have even more value as consumers step up our Retail continuum, thanks to a mix of eBucks, the greatest incentives in banking, and a variety of specialized money management services.