FNB has zero-rated transaction fees on its prepaid airtime, voice, SMS and data bundle purchases for customers who hold its Easy Pay-As-You-Use, Islamic Easy Pay-As-You-Use and Easy Account with Zero monthly account fee. This now follows the Easy Zero bank account where prepaid purchases have always been free.
The respective bank accounts are held by customers who earn between R0 -120 000 per annum or a monthly salary of less than R7 500. These customers will be able to access the benefit immediately when they make prepaid purchases using the FNB App, FNB.mobi, FNB.co.za or dial *120*321#.
Philani Potwana, CEO of FNB Easy says the zero rating of transaction fees on prepaid purchases forms part of the bank’s continued commitment to provide cost-effective banking services to customers whilst providing more value.
“In previous years, we have reduced a range of fees for our Easy account holders including monthly account fees, send money fees as well as cash withdrawal fees at our ATMs and [email protected] At the same time, customers have received added benefits which include airtime rewards, ability to contact the Easy Call Centre for free as well as free medical, legal and financial assistance for customers who hold our Easy Smart Option. More recently, we also introduced our Easy Account with Zero monthly account fee, a bank account that allows students to transact easily, conveniently and safely on the FNB App. Our aim is to continue exploring cost-effective ways to help customers stretch their income,” says Potwana.
Shadrack Palmer, Transactional Services Head for FNB Connect says, “Our internal data shows that customers in this segment buy smaller bundles of prepaid airtime repeatedly and these costs can accumulate very quickly. The decision to help customers save will not only help them manage their money better but will also enable them to buy more voice minutes and data to stay in contact with their family and friends, especially during the national lockdown”.
In April, FNB announced that users of FNB Connect will receive a free once-off 1GB of data during national lockdown. In addition, FNB Connect announced that its new data packages have been slashed by 55% as part of its annual pricing review.