Faizel Patel, Radio Islam News – 18-04-2018

First National Bank (FNB) has launched a new service that will allow unbanked and underbanked South African consumers to use a smartphone to open a bank account without walking into a branch.

eWallet eXtra, a new mobile bank account will have no monthly fees and consumers don’t have to submit any paperwork, requiring only their name, surname and ID number on a mobile device to use the application. 

Head of Transaction Products Gugu Zikhali says the new feature by FNB is a simple, accessible and cost effective solution for anyone above the age of 16 who owns a smartphone to get a mobile bank account with a unique account number in less than three minutes, 

“eWallet eXtra will enable users to send or receive deposits from individuals and other banks, store funds for an unlimited period,  pay accounts and also buy prepaid products like airtime, data and electricity.” 

Users can also on send to other recipients and withdraw at any FNB ATM or at tills across participating *SPAR stores, which also allow for over the counter purchases. 

The daily spend limit is R3 000 and R24 000 per month. 

 eWallet eXtra users will be able to view their bank account balance and transaction history. Those who use an FNB Connect SIM will be able to access eWallet eXtra for free as they do not need airtime. 

Zikhali says full control and safety are also key features of eWallet eXtra. 

“The first layer of security allows users to generate a PIN code to access their account.  To safeguard customers, eWallet eXtra will not carry debit order functionality.” 

FNB’s eWallet eXtra mobile bank account will be available by June 2018.

Twitter: @FaizelPatel143