FNB has launched, Easy Zero, a digital bank account with a card to allow customers to transact easily, conveniently and safely without paying a monthly fee. Photo: File

DURBAN - FNB has launched, Easy Zero, a digital bank account with a card to allow customers to transact easily, conveniently and safely without paying a monthly fee. 

The mobile account was formerly known as eWallet eXtra.

The revamped digital account will now have a branded FNB bank card, providing customers with free card swipes, cost-effective transactional and ATM cash withdrawal fees. The convenience of a card now gives customers more options to access their money. In addition, customers will also get free prepaid purchases and free cash deposits of up to R1 500 per month.

FNB Easy Chief Executive Philani Potwana said, “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". 

He added, "We see Easy Zero being a digital bank account of choice for customers who do not have regular income or have limited banking needs. This is partly the reason debit orders are not allowed on the digital account as customers in this segment have limited debit orders. However, for those customers that have a need for debit orders they can still use our competitively priced Easy PAYU and Easy Smart Bundle accounts". 

Through Easy Zero, customers will be able to easily send money to anyone with a valid SA cellphone number, skip the queues to pay people and accounts. Easy Zero account holders can also view their bank account balance and transaction history on their mobile phone at any time, from anywhere.

FNB will from November 1 also offer the First Business Zero business bank account designed specifically for sole proprietor businesses with an annual turnover up to R5 million. 

FNB launches new account for small businesses

First National Bank said on Tuesday it had launched a no monthly fee acount, First Business Zero, in response to the barriers faced by micro, small and medium-sized businesses in South Africa. 

The First Business Zero business bank account designed specifically for sole proprietor businesses with an annual turnover up to R5 million. 

It can be opened on the FNB app within a few minutes and key features include no monthly account fee, unlimited free point-of-sale card swipes and an inter-operable QR code for accepting payments.

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