More than 50,000 people have registered for FNB’s eWallet eXtra within the first month of launching.
eWallet eXtra is primarily aimed at South Africa’s unbanked market, allowing users to view their bank account balance and transaction history on their mobile phone at any time.
The account has a daily spend limit of R3,000 and R24,000 per month while cash withdrawals can be made at FNB ATMs or over the counter at participating SPAR stores.
“Anyone who owns a mobile phone can open an eWallet eXtra account without having to visit a branch,” said Gugu Zikhali, FNB Head of Transaction Products: Mass Market.
“All that is required is a name, surname, ID number and thereafter the customer is issued with a unique account number.
“Full control and safety are key features of eWallet eXtra and the first layer of security allows users to generate a PIN code to access their account,” she said.
Zikali added that increased mobile device penetration has necessitated the development of innovative banking solutions.
These solutions are especially game-changing for consumers with limited banking options, she said.