The First National Bank, FNB, is one of the oldest banks in South Africa. It has been in existence since 1864.
Having been in operation for more than one hundred and fifty years, the bank believes in being committed to serving its customers.
That commitment explains why the bank has existed this long. It is also a proof of confidence in the bank.
Community service is one of the values that the bank stands for. Being efficient and reliable is what the bank strives to achieve.
Are you looking for recommendations on a bank to conduct business with and are not sure which one to settle for?
If that is the case, going through the different FNB account types and charges can come in handy in determining whether it is worth it to settle for FNB.
It will also highlight some of the services that are only offered in FNB. These are the different options that you could choose from:
Types of FNB accounts
1. FNB Gold account
This type is ideal for clients whose annual income is not less than R84000 and not more than R299999. They are of two types:
- FNB Fusion Gold account
- The monthly fee is R109 for a client and a client enjoys the following services:
- Thirty days of carrying out transactions without incurring any interest charges.
- Salary deposits among other credit card transactions.
- Free and unlimited credit card swipes.
- Free deposits and withdrawals.
- Free of charge electronic payments.
- Free of charge online purchases using the FNB app.
- Free access to the access line that will help you manage your finances.
- Access to real-time help on the app.
Still, on the Fusion Gold , the client will enjoy two free eWallet transactions and a free savings account whose interest rate is 5.25%.The client’s spouse will also enjoy a R20 discount on their bank fee. They will also be able to bank their change for every purchase that they will make.
FNB Gold cheque account
The minimum monthly fee is R109 per month. The services that a client enjoys include:
- Free digital banking.
- Unlimited credit card swipes.
- Two free eWallet transactions.
- Free ATM and cash till withdrawals up to a limit of R4000 per month and free R3000 per month ATM deposit.
- A savings interest rate of up to 5%.
- Access to credit.
- Free membership to the FNB eBucks Rewards and enjoying the rewards that do not expire and could be used for shopping.
It comes with a savings account that makes saving convenient for any person regardless of their age. The best part about it is that the savings can be accessed at any time and transfers made.
2. FNB Premier account
FNB Fusion premier account
According to the requirements, the client’s minimum annual income should be R300 000 and the maximum should be R749 999 per year.
Some of the deals that a client will enjoy for owning this account type include:
- Full transaction capabilities like salary deposits and ATM withdrawals.
- Maximum eBucks rewards.
- Thirty days of no interest for every purchase made through the card.
- The ability to use the credit card abroad.
- One card that links your credit facility with your transaction account.
- FNB Premier cheque account
- This is the second FNB cheque account. Some of the services that a client enjoys include:
- A discount on your life partner’s monthly fee.
- Your kids will enjoy a free FNBy Account.
- A free savings platform.
- Two free eWallet transactions.
- Free digital banking.
- Free membership to eBucks and enjoying a membership that does not expire.
- For FNB connect SIM, one enjoys free 500 MB data, free 60 minutes talk time and 60 SMS.
It is also perfect for all age ranges as it covers both the young and the old. FNBy is meant for children and helps them understand the value of being financially responsible. Premier Account for Spouses is focused on providing them with a deal at a lowered monthly fee. Over 55s is meant for retirees because of the lifestyle benefits and rewards that it provides.
3. Private clients account
This type is open for all types of members regardless of whether they are entrepreneurs or retirees. The minimum monthly income for clients in this category is R399. The features that a client enjoys include:
- One is allocated a private banker who helps them in ensuring that they receive the maximum value for being private clients.
- One enjoys the services that a team of specialists have to offer in ensuring that they receive the best services regarding financial planning and wealth management.
- One enjoys a full-time Clients Service Suite which is determined to aid its clients with all forms of banking needs.
- A client also enjoys the reliable services on FNB banking app which one can access without paying for data.
- Spouses and life partners of the client enjoy the services of a private account with a reduced monthly fee.
- The children of the client get to enjoy the services of the FNBy account.
- One will be required to only pay R10 to activate their FNB Connect SIM.
- They will also enjoy free calls to the clients’ suite as well as free 500 MB, 60 minutes talk time as well as 60 SMS.
Private Wealth Cheque Account
This account is available for clients who have an annual income of R1.5 million and an asset value of R15 million. The services that the client enjoys include:
- The life partner of the client enjoys the services of wealth advice and private banking. They will also enjoy a discount on the monthly fee for the following products: Private Wealth Cheque account, money maximiser account, savings account and the global account. They will also enjoy the private wealth offering.
- Enjoy the services of a private banker who will guide them through understanding their balance sheet. They will also access the full-time service suite.
- They will also enjoy the eBucks rewards and be awarded free eBucks for every time that they will swipe their card.
- Access short term credit solutions.
- Enjoy the services of a free savings account.
- One will not incur any annual card fees.
- Enjoy the services of free card replacement and delivery.
- A cheque card with enhanced security features like the PIN and the VISA chip.
FNB business account types
If you are looking forward to opening an FNB business account, these are the different types:
- Gold Business type whose maximum turnover has to be R5 million..
- Platinum business type whose minimum annual turnover is R5million and the maximum is R60 million.
- Enterprise business type which is available for businesses with a minimum turnover of more than R60 million per annum.
With these rates in mind, you will be able to select the FNB business account that matches your financial capabilities. You might also be required to go through the FNB business account requirements before opening one.
FNB cheque accounts
What is a cheque account?
This is a special type that allows one to grow their credit card record.
FNB cheque account types
There are two types that one could choose from:
- Gold cheque which has a set of features that a user benefits from. A prospectus client could find out more about them by clicking here.
- Premier cheque which is slightly different from the gold cheque apart from the following features.
FNB Easy account
For the low-income earners, the bank has set the FNB easy account as the best option for them. It does not have a specified minimum income and could also be used for savings.
These are the different account types that the FNB bank has for its clients. Each one of them has different features that a client enjoys. Before settling for one, a prospectus client should ensure that they meet the minimal requirements of the bank.