Digital and mobile technologies are constantly evolving, enabling new methods of payment and money transfer that have evolved beyond having a bank account. FNB, as an innovator, continues to invest heavily in developing payment solutions to stay ahead of changing market dynamics and evolving customer needs.
FNB Retail Payments Head, Sashin Sookroo says, “Whether you're conducting a local or international transaction, we've invested in providing customers with a variety of payment options to meet their specific needs. Our secure and convenient payment solutions are ideal for customers who need to make immediate payments to family and friends, pay bills, purchase goods and services, or send money to loved ones abroad."
Being a leading bank, most payments occur within the FNB ecosystem and are therefore received immediately. FNB as well as RMB Private Bank customers can transact with each other without sharing account information using the real time options below:
1. Paying to a Cellphone number: ‘Pay 2 Cell’
The bank’s customers can send money to family and friends by entering the cellphone number of the recipient. Pay2Cell is available on the FNB and RMB Private Banking Apps, Online Banking, and USSD *120*321#.
2. Pay someone nearby with ‘Geo Payment’
‘Geo Payment’ allows customers to send and receive money in real time by using geo-location; this is when the sender and the receiver are next to each other. Geo-Pay is available on the FNB and RMB Private Banking Apps. To do a ‘Geo Payment’ on the FNB App: Select ‘Payments’; Select ‘Geo payments’; Select ‘Pay Someone’ or ‘Receive a payment’; Select ‘Recipient Name’ or ‘Sender Name’ from the options that will appear on your screen.
3. Send a “please pay me” to a cell phone number - ‘Payment Request’
Does someone owe you money or do you need funds from friends or loved ones? If so, you can request funds free of charge on the FNB and RMB Private Banking Apps, and USSD *120*321#. To send a ‘Payment Request’ on the FNB App: Select ‘Payments’; Select ‘Payment Request’; Select ‘Add Payment Request’; Enter the amount, reason for the request, and the cellphone number of the person you’re requesting the payment from. The payer is notified of the payment request immediately and can choose to either accept or reject the request.
FNB customers can also pay other banks customers across the globe:
4. Real time payments to other SA banks - ‘Pay and Clear Now’
FNB customers can send funds to anyone who banks with other participating SA banks by using ‘Pay and Clear Now’ on the FNB and RMB Private Banking Apps, and Online Banking. To send money immediately on the FNB App: select ‘Payments’; select ‘Recipients’ or ‘Once off payment’; and select the ‘Pay and Clear Now’ to complete the transaction.
5. Payments to global bank accounts
Whether it’s for personal or business purposes, sending money to someone overseas is a lot easier when you bank with FNB or RMB Private Bank. To send money abroad on the FNB App: select ‘Payments’; select ‘Global Payments’; select ‘Beneficiary list’ or ‘Once off payments’; Then enter the details of the beneficiary, whether it’s an individual or a business.
FNB customers also enjoy shopping in store, in app or online completely free and qualifying customers earn eBucks on spend:
6. Shop in-store or in-app or online with FNB Pay, FNB Virtual Card or FNB Bank Card
Whether our customers are eating out at restaurant, shopping on their favourite app or buying online they can use their FNB bank card, FNB Virtual Card or use FNB Pay supported digital wallets like Apple Pay, Samsung Pay, FitBit, and Garmin on the FNB App. In addition, card-based subscription services such as Netflix, Spotify, and YouTube as well as in app purchases on apps such as Google Play, Google Music, Apple App Store, iTunes, Uber, Mr D Food and Takealot etc. are also completely free. Customers can load their FNB Virtual cards on subscription and streaming based services for added security and convenience.
7. Shop in different currencies with the FNB Global Account
The Global Account offers customers the ability to save & transact in 9 foreign currencies, where customers can obtain a debit card linked to their U.S. dollar, British Pound & Euro Global Accounts. The Global Account debit card also boasts no currency conversion fees when customers make purchases using their global debit card online and at international card machines, even if they pay in a different currency than their global account.
FNB customers can also transact with people who don’t have a bank account:
8. Send money using eWallet
This is one of the most popular services in South Africa where FNB customers can instantly send money to anyone with a cellphone via eWallet. An eWallet can be processed on the FNB and RMB Private Banking Apps, Online Banking, FNB ATMs, and Cellphone Banking via *120*321#. Qualifying FNB customers get 2 free eWallet sends per month. To send money immediately via eWallet on the FNB App: select ‘Payments’; select ‘Send Money’; select ‘To eWallet’ and enter cellphone number of the recipient. Via the FNB App, you can conveniently select a recipient’s cellphone number from your contact list.
9. Send Money abroad using MoneyGram
When commitments or spoiling loved ones go beyond borders, FNB helps customers transact in a quick and simple way. With MoneyGram from FNB, customers can send money via the FNB App, USSD *120*321#, ATM, or from an FNB branch without the need for a bank account.
10. Send or Receive money globally with FNB and PayPal
PayPal is one of the world’s leading digital payment platforms and offers a safe and easy way to pay and get paid online, anywhere in the world; with PayPal you can accept payments from almost anyone with an email address in 200+ markets.
A payment made into your PayPal account is immediate, thereafter you will use FNB Online banking to withdraw your funds into your linked South African bank account
PayPal is also a safe payment tool for online shopping at any of PayPal’s 21 million merchants worldwide. Enjoy hassle-free shopping by just using your PayPal username and password and PayPal will debit the linked FNB card for the purchase, no need to enter card details multiple times. We help you transact online with peace of mind, knowing your financial details and transactions are protected.
"With the payments environment constantly changing, our goal as a financial services partner is to reduce reliance on cash by providing customers with a variety of payment options that meet their daily needs. We remain committed to investing in industry modernisation programmes such as Rapid Payments and offering the most diverse range of platform-based innovative payment solutions centred on true customer and business value," says Sookroo.
For more information read here.