FNB clients can now send money to Zim or Mozambique through it's improved banking app.
By Angelique Ruzicka, editor, Justmoney
Banking clients who download the latest version of the FNB Banking App for smartphones can now send money from South Africa to Zimbabwe and Mozambique with just a press of a few buttons. FNB charges between R45-R105 per transaction, depending on the size of the transfer (see table below). Account holders must send a minimum of R100 through the app but can send up to R3,000 per day if they wish as a maximum.
“The maximum amount of R3 000 per day can be sent from the FNB Banking App or from FNB Online Banking. When using FNB Cellphone Banking, the maximum amount is R 1 500 per day. The maximum combined amount from all channels is R10 000 per month. Note that the available daily maximum amount will depend on the amount that has already been spent on Prepaid Airtime, Prepaid Electricity and sending money to an eWallet on the day,” explained a FNB spokesperson.
FNB’s Zimbabwe Money Transfer service was first launched on Cellphone Banking in April 2013 to enable qualifying FNB customers in South Africa to send money to residents in Zimbabwe. The capability to send money to Zimbabwe through Online Banking followed in November 2013 and the Mozambique money transfer on both of these platforms was launched in June 2014.
“The rollout of our services on the FNB Banking App has always been driven by customer demand,” says Giuseppe Virgillito, head of banking app, FNB Mobile and Connect. “The Money Transfer service is an important addition to the FNB Banking App as there is a growing need for ease of payments between countries and with an increase in affordable smartphones, more customers will be using app banking for all their banking needs.”
To use the Money Transfer service, smartphone users must download the FNB Banking App or upgrade their current version of the app from the appropriate app store, depending on the operating system of their phone.
For customers who do not have a smartphone, the service continues to be available via FNB Cellphone Banking and FNB Online Banking. Recipients do not need to be preregistered but must hold an identity document of the country where they are receiving the funds. Money can be collected at selected OK Ltd stores throughout Zimbabwe or at one of the 15 FNB branches in Mozambique.
“The value that FNB’s Money Transfer service adds to our customers’ lives is evident. Being able to send money instantly from your phone, desk or smart device makes this a truly convenient and affordable way to send money home in an emergency, as the sender does not need to take time off work or travel to a branch or agency,” says Leonora van der Plas, head of cross-border remittances at FNB (pictured).
“We have every intention of continually enhancing FNB’s cross-border remittance service functionality on the FNB Banking App as it affords customers a convenient and improved banking experience,” concludes van der Plas.
|
AMOUNT YOU SEND
|
COST TO YOU
|
COST TO THE PERSON RECEIVING THE MONEY
|
|
R100 to R1 000
|
R45 transaction fee
|
Zero
|
|
R1 001 to R2 000
|
R70 transaction fee
|
Zero
|
|
R2 001 to R3 000
|
R105 transaction fee
|
Zero
|
Source: FNB, correct as at 22 September, 2014.
