Posts Tagged ‘Top tips’

A tip for South Africans only, and only those banking with FNB to boot. Still, the bank has more than a million customers and I’m sure they all read this blog, so…

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Any South African (and everyone else, I’m sure) is always on the lookout for ways to cut the high cost of banking. Internet banking is a sure fire way to reduce your costs and it works for the banks too, because they have to spend less maintaining those expensive brick and mortar outlets. However, though it is a cheaper way to do your banking, each transaction still does attract a fee, e.g. when you pay someone via EFT; costs vary between about R3 and R12, which adds up over the course of a month.

However, if you use FNB’s cellphone banking service, there is no cost attached to the transaction: zip, nulla, nada. You can only use the service (as far as I can see) to pay beneficiaries who have been loaded onto your account already, but it’s very easy to set this up yourself on their internet banking website and then you’re good to go. All your payments to municipalities, accounts, for purchases and to your household employees will attract no charge at all.

Setting up cellphone banking (if you haven’t already done so) is a quick and simple process – just go to the FNB Cellphone Banking page and they’ll give you the steps to follow. While you’re there, you just have to click on the “Fees and Charges” link: bet you don’t see that too often when it comes to SA banks!