In order to use the app, however, you were required to open a free digital account with zero fees.
Now FNB is adapting eWallet eXtra into a similar account – Easy Zero – which is also a digital bank account with no monthly fees.
Unlike the initial offering in October, this account will include an FNB card which can be used to swipe at pay points or withdraw money at ATMs. FNB has also told Hypertext that the card supports contactless payments.
Customers who take up an Easy Zero account will enjoy free prepaid purchases and free cash deposits up to R1 500 per month. Sadly debit orders cannot be set up on this account.
“We are aware of the day-to-day financial pressure that our consumers face, and Easy Zero is a direct response to their needs. The account is in line with our strategy to broaden financial inclusion to the unbanked and underbanked. We believe that the ability to operate the account digitally will allow customers to operate it at virtually no cost or minimal cost depending on transactional behaviour,” chief executive officer at FNB Easy, Philani Potwana, said in a media statement.
Easy Zero, as Potwana eludes to, is designed for South Africans who do not currently have a bank account or have limited banking needs.
Customers will also be able to send money to anybody with a valid South Africa cellphone number.
To sign up for Easy Zero you can call 0800 079 599 (toll free) or dial *120*277# and follow the prompts on your mobile. You can also visit the FNB website for more information.