FNB Easy Account Summary
The FNB Easy Account is a basic, low-cost transactional account offered by First National Bank (FNB) in South Africa. It is designed for individuals who earn an income of less than 120,000 per year and require basic banking services.
Key Features of the FNB Easy Account
- No monthly account fee for the first year, and thereafter R5.75 per month.
- Free use of the FNB Banking App, Online Banking and Cellphone Banking.
- Unlimited card swipes and withdrawals at FNB ATMs.
- No minimum deposit required to open the account.
- No minimum balance required to keep the account open.
- Account holders can order a basic FNB debit card for a once-off fee of R20.
- There are some limitations with the FNB Easy Account such as no cheque book facility and limited free electronic transactions. However, it is still a good option if you are looking for a low-cost account to manage your day-to-day
FNB Easy account types
1. FNB Pay As You Use
The FNB Pay As You Use Account is designed for everyday use and features low cash and cash @ till withdrawal costs. The FNB Pay As You Use Account costs a fee for each transaction. The monthly charge is R4.95 and you are billed for all transactions. Appropriate for consumers who do not use their account frequently.
2. FNB Easy Zero Account
FNB Zero Monthly Fee Account is a no-fee bank account, charging R0 on monthly account fees. This account targets students. It comes with a savings account that has competitive interest rates. Users can buy data and airtime for free on the FNB app with this account option.
3. FNB Easy Account smart
FNThe FNB Zero Monthly Fee Account is a no-fee bank account with no monthly maintenance fees. This is a student-oriented account. It also features a savings account with a competitive interest rate. Users can use this account to purchase data and airtime on the FNB app for free.
What does FNB Easy Account offer?
Fast Loans
When you utilize the FNB Easy Account, you have easy access to loans. Loans through the Easy Account are approved within minutes after application. You can apply for loans using the FNB mobile app without providing any documents. You can quickly determine your loan eligibility and obtain fast access to the funds. All that is required is for you to accept the loan amount or change it to your desired amount. FNB employs artificial intelligence technologies to access your bank account and determine how much you qualify for.
Funeral plan
You can obtain a funeral plan using an fnb easy account. The plan covers you and your spouse up to R400,000.00 if you are married. Claims are processed quickly, with a maximum waiting period of 24 hours after submission of required documentation. To combat inflation, the funeral plan’s premiums are subject to a 5% annual increase. You can enroll up to 21 family members under a single plan, and each individual is guaranteed lifetime coverage. Because coverage is contingent upon premium payments, no claims can be made in the event of non-payment.
Savings account
The FNB Easy Account includes a free optional savings account, which may be used to supplement your income. The savings account offers a competitive rate of interest.
FNB app and internet banking
You will get access to free internet banking as well as a mobile app. You can bank at any time and from any location without incurring any additional fees. The use of the FNB mobile app and internet banking is subject to data usage charges and is not provided by the bank.
FNB Easy Account Banking Fees 2024
| Transaction Type | Fee |
|---|---|
| General Fees for FNB Easy PAYU 2023-2024 | |
| Cash@TillTM | No charge |
| FNB ATM + FNB ATM with Deposits | R8.50 per R1000 up to R2000, then R12 |
| Cash Withdrawals (Local) | R2.40 per R100 |
| Cardless Cash Withdrawals | R1.20 per R100 |
| Cash Withdrawals (International) | R80 (additional 2% commission and conversion fees apply) |
| Other Banks’ ATMs (incl. International) | R12 + R2.40 per R100 |
| Assisted Banking: FNB Branch (incl. International) | R80 (additional 2% commission and conversion fees apply) |
| Cash Deposits | R19.95 |
| Deposit@TillTM | R80 + R3 per R100 |
| Assisted Banking: FNB Branch | R80 + R3 per R100 |
| Cash Deposits (Other Banks’ ATMs incl. International) | R1.40 per R100 |
| General Fees for FNB Easy Smart 2023-2024 | |
| Cash@TillTM | No charge up to R2000 p.m., then R1.90 |
| FNB ATM + FNB ATM with Deposits | R2.40 per R100 |
| Cardless Cash Withdrawals | R1.20 per R100 |
| Cash Withdrawals (International) | R80 (additional 2% commission and conversion fees apply) |
| Other Banks’ ATMs (incl. International) | R12 + R2.40 per R100 |
| Assisted Banking: FNB Branch (incl. International) | R80 (additional 2% commission and conversion fees apply) |
| Cash Deposits | No charge up to R2000 p.m., then R1.40 per R100 |
| Deposit@TillTM | R80 + R3 per R100 |
| Assisted Banking: FNB Branch | R80 + R3 per R100 |
| Cash Deposits (Other Banks’ ATMs incl. International) | R1.40 per R100 |
| Digital Banking Fees | |
| FNB App, Online, USSD, Email | No charge |
| Assisted Banking: FNB Branch, Telephone Banking | No charge |
| FNB ATM + FNB ATM with Deposits | No charge |
| Statements | Printing: R4 per page |
| Printing and Emailing: R50 per statement | |
| Other Statements | Daily: R68 |
| Weekly: R31.50 | |
| Twice-Monthly: R18 | |
| Prepaid Purchases | Prepaid Airtime Purchases: No charge |
| Prepaid Purchases – Other Banks ATMS: R15 | |
| Connect All Channels: R7 | |
| Buy Lotto and Powerball: R1 | |
| Prepaid Electricity: R2.70 | |
| Transfers and Payments Fees | |
| Transfers and scheduled transfers via online banking and FNB Banking App | No charge |
| Internal debit orders | No charge |
| External debit orders | FNB Easy PAYU: R5.25 p.m. |
| FNB Easy Smart: R65 p.m. | |
| Payments | FNB Easy PAYU: R80 |
| FNB Easy Smart: R80 | |
| Debit order management | Stop payment – digital channels: No charge |
| Stop payment – telephone banking: R80 | |
| Stop payment – branch: R80 | |
| Debit order dispute – FNB App and online banking: R5 | |
| Debit order dispute – telephone banking: R47 | |
| Scheduled payment (establishment and amendment) online: No charge | |
| Scheduled payment (establishment and amendment) consultant assisted: R20 |
Whichever FNB Easy Smart Account or FNB Pay As You Use Account you choose will depend on your spending habits. If you are a frequent shopper, the Easy Smart Account is the perfect choice. Easy Smart Account provides you with an infinite number of internal debit orders and complimentary in-contact notifications. Making many payments is less expensive, and you are not charged to receive notification for each transaction.
Although the account comes at a high price, monthly fees can be minimized if used with care. Pay as you use account incur low monthly added fees if used with caution. If you withdraw cash @ till and make few transactions a month your monthly fees will be low. The monthly fees can be lower than R59 provided that strict measures are made on how to use the account. This account can be costly if used many times. If deposits, debit orders and atm withdrawals are made often they lead to high service fee charges.
FNB Easy Account Competitive Advantages
- Receive free Transfers & Scheduled Transfers via Online, FNB Banking App.
- Get free FNB Connect Airtime Purchases via Online or mobile channels.
- You can easily migrate to the gold account.
- Comes with free Scheduled Payments via Online, FNB Banking App.
- No charge on debit order stop when using internet and mobile app banking.
- Can get access to free historical statements online.
- Ewallet service comes with no monthly fee.
- Easy Account comes with different types of account options to choose from.
- Easy Account has a zero fee account.
FNB Easy Account Competitive Disadvantages
- Charges R8. 50 per unsuccessful transaction.
- Charges an amount for balance enquiry if assisted by an FNB consultant.
- There are charges for additional bank statements in a month.
- There are charges for linked accounts transfer if assisted by a consultant.
Is FNB easy account a savings account?
The FNB easy account functions similarly to a Cheque account and is utilized for everyday banking activities such as sending and receiving money. The account is designed for those earning between R1,000.00 and R7,000.00 per month.
How to apply for FNB Easy Account
- Must have a South African ID.
- You can start your application online or
- If you have a mobile app then login, then go to Apply now > for me> choose easy account > enter relevant information > submit.
FNB Easy Account provides a secure and simple solution to banking. All added services are easy to use and come at less cost. There are things that you can benefit with easy account. You can get a funeral plan, have access to instant loans and overdrafts.
Frequently Asked Questions (FAQ) for FNB Easy Account
Q1: What is an FNB Easy Account?
A1: The FNB Easy Account is a simplified, cost-effective bank account offered by First National Bank. It is designed for individuals who seek a hassle-free banking experience with essential features, lower fees, and easy access to their money.
Q2: How do I open an FNB Easy Account?
A2: You can open an FNB Easy Account online, via the FNB mobile app, or by visiting your nearest FNB branch. You will need to provide your personal information, proof of residence, and a valid identification document.
Q3: What are the main features of the FNB Easy Account?
A3: The FNB Easy Account offers several key features, such as a debit card, free card swipes, free cash withdrawals at FNB ATMs, online and mobile banking, and access to FNB eWallet services.
Q4: Are there any monthly fees associated with the FNB Easy Account?
A4: Yes, there is a nominal monthly fee for maintaining an FNB Easy Account. However, the fee is relatively lower than traditional bank accounts, making it an affordable banking solution.
Q5: Can I use the FNB Easy Account for online and mobile banking?
A5: Absolutely! FNB Easy Account holders have access to online and mobile banking through the FNB Online Banking platform and the FNB mobile app. These services allow you to manage your account, make transactions, and check your balance anytime, anywhere.
Q6: What is the FNB eWallet, and how does it work with the Easy Account?
A6: FNB eWallet is a digital wallet service that allows you to send and receive money quickly and securely. As an FNB Easy Account holder, you can access eWallet services through FNB Online Banking or the FNB mobile app, making it simple to transfer funds or make payments without the need for a physical card or cash.
Q7: How do I deposit and withdraw money from my FNB Easy Account?
A7: You can deposit money into your FNB Easy Account via electronic funds transfer (EFT), direct deposit, or by visiting an FNB branch or ATM. To withdraw funds, you can use your FNB debit card at any FNB ATM, selected retail stores, or by visiting an FNB branch.
Q8: Is my money safe in an FNB Easy Account?
A8: Yes, your funds in an FNB Easy Account are protected by the bank’s robust security measures, ensuring the safety of your money. Additionally, FNB is a reputable and established financial institution, providing customers with peace of mind when it comes to their banking needs.
Q9: Can I link my FNB Easy Account to other FNB accounts?
A9: Yes, you can link your FNB Easy Account to other FNB accounts, such as a savings account or credit card. This feature allows you to manage all your FNB accounts through one online banking profile or mobile app, making it convenient to keep track of your finances.
Q10: How do I get assistance or support for my FNB Easy Account?
A10: For assistance or support regarding your FNB Easy Account, you can contact FNB’s customer service through their helpline, email, or online chat. Alternatively, you can visit your nearest FNB branch for in-person assistance.
Q11: Can I apply for an overdraft with my FNB Easy Account?
A11: FNB Easy Account is designed to provide simple and affordable banking solutions. Overdraft facilities may not be available for this account type. However, you can contact FNB or visit your nearest branch to inquire about other account options that may offer an overdraft facility.
Q12: Are there any daily or monthly transaction limits on the FNB Easy Account?
A12: Yes, there may be daily and monthly transaction limits associated with the FNB Easy Account. These limits are put in place to protect your account and ensure secure transactions. You can find detailed information about these limits in the account terms and conditions or by contacting FNB’s customer service.
Q13: Can I open a joint FNB Easy Account with someone else?
A13: Yes, you can open a joint FNB Easy Account with another person. Both account holders will have equal access to the account and its features. To open a joint account, you and the other applicant must provide your personal information, proof of residence, and valid identification documents.
Q14: Can I earn interest on my FNB Easy Account balance?
A14: The FNB Easy Account is primarily designed for day-to-day banking activities, and it may not offer interest on your account balance. If you are interested in earning interest, you may consider opening an FNB savings account or exploring other investment options offered by the bank.
Q15: How do I close my FNB Easy Account?
A15: To close your FNB Easy Account, you can visit your nearest FNB branch or contact the FNB customer service helpline. The bank may require you to provide identification and settle any outstanding fees or charges before closing your account.
