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First National Bank (FNB) has added two accounts to its range of retail options, the FNBy account for youngsters and the FNB Fusion Premier Account, which combines a transaction account and credit card facility. The new offerings come into effect on July 1, as do the bank’s annual account pricing changes.

With FNBy, customers under 18 have access to a full transaction account, with no monthly fee, that they can use for daily banking and saving. People from the ages of 18 to 25 years will pay R10 a month, which will give them access to inContact online and cellphone banking.

FNB Fusion Premier, which has a monthly fee of R199, will enable you to manage all your transactions and rewards with only one card. It a full transaction account, an overdraft facility and a credit card.

As far as the bank’s new pricing goes, the fees on FNB’s Premier and Private Clients bundled accounts remain unchanged at R199 and R365, covering a portfolio of products, including a cheque account, credit card, linked savings pocket and global account. These customers have access to a share-trading platform and the Money Market Maximiser, which offers competitive interest rates.

The fee on the Easy Pay-as-you-use (Payu) account, which has remained unchanged since July 2014, will increase by 6% to R5.25 a month. There will be additional fees for services such transaction notifications via SMS and cash withdrawals at till-points.

The fee on the Easy Bundle Account, which has remained unchanged since July 2012, will increase by 8% to R53 a month.

The fee on the mid-level Gold Account, which has remained unchanged since July 2014, will increase by 5% to R105 a month, FNB says. – Staff Reporter