More than 460 000 FNB and RMB Private Bank customers have received free data, voice minutes and SMSes from FNB Connect in July.
Len Pienaar, CEO of FNB Connect explains that, “These rewards were given to both existing and new account holders as a value add. The incentive has been very popular with our customers and a firm indication that telco is a vital part of the day-to-day activities of South African consumers. We are delighted to be able to help our customers manage their telecommunications spend in these challenging economic times.”
As part of its annual pricing review which became effective on 1 July, FNB announced that customers who hold its Easy Smart Option, Gold, Premier, Private Clients and Private Wealth bank accounts will each get free monthly data, voice minutes and SMSes on their FNB Connect Pre-paid, Top Up or Post-paid SIM.
“Telco accounts for a significant portion of our customers’ daily and monthly spend. While many need telco services for a range of reasons, it’s tough for some to be able to afford the associated costs. We are expanding the scope of banking because we look at customer needs holistically. Under the current economic environment, we hope to help customers improve their overall money management of which telco forms part of the expenses,” says Christoph Nieuwoudt, CEO of FNB Consumer.
The allocations and qualifying criteria differs depending on the type of account a customer holds. The first allocation for all our existing customers has been given without any depositing criteria applied. For new Easy and Gold customers, the deposit qualifying criteria will be suspended for three allocations and for Premier, Private Banking, Private Wealth and RMB Private Bank for one allocation.
| Account | Data | Minutes | Voice |
| Easy (Smart Option) | 80MB | 30 | 30 |
| Gold | 120MB | 60 | 60 |
| Premier | 500MB | 60 | 60 |
| Private Clients | 500MB | 60 | 60 |
| Private Wealth | 500MB | 60 | 60 |
| RMB Private Clients | 500MB | 60 | 60 |
“In July, consumers received more good news following the 25-basis points reduction in interest rates. While this will alleviate pressure on household budgets, the cost of living remains high in the country. Free benefits in popular spend categories such as telco can offer significant relief to those who need help the most,” concludes Nieuwoudt.
