FNB Aspire, rebranded in 2021 from FNB Gold, has comes out tops as the cheapest preferred banking account for middle income earners offering the best value.
This according to Solidarity’s 2022 Bank Charges Report recently released.
According to the findings, when looking at the accounts for middle-income banking needs, FNB is the overall winner with its FNB Aspire account.
Like the other accounts in this category, it is a bundled account with a fixed amount which includes a series of free transactions.
FNB Aspire is by far the winner in the middle-income category because all the transactions are included in the fixed amount of R99.
Rob Gwerengwe, CEO of FNB Middle Market says, “FNB Aspire is designed with the money management needs of middle-income customers in mind, and it’s based on value.”
“In an environment where consumers are working to save costs wherever possible, there has never been a better time to re-evaluate the bank you use.”
“Choosing a bank for your transactional account is not just about the monthly fee you pay.”
“You need to consider the value-adds you get from that banking relationship as well as the hidden charges that other banks tend to hide in the fine print.”
FNB Aspire account is a bundled product aimed at the R180,000 to R450,000 income bracket.
According to the bank, the Aspire account has been revamped so that customers can derive more value from their transactional banking.
For just R99 per month, you get unlimited debit orders, free [email protected], free prepaid purchases on the FNB App as well as free cash withdrawals and deposits up to R3,000.
However, Gwerengwe points out that although the monthly account fee is only R99 a month, customers derive more value out of their combined eBucks earn and FNB Connect rewards.
FNB Aspire customers will also enjoy the benefit of several zero-rated transactions including third-party payments, InContact SMSes, secure chat available 24/7 and [email protected]
“These may seem like minute charges that are not worth a mention, but the costs really do start adding up over the course of the month,” Gwerengwe notes.
For example, the 40 cents transaction notification fee as offered by competitor banks seems reasonable at first glance, but for a customer with eight debit orders, eight withdrawals, and 14 card swipes, that very quickly adds up to an extra charge of R12 per month.
FNB Aspire customers also receive the following value-added benefits and rewards:
- Two complimentary SLOW Lounge visits when you book with eBucks Travel.
- 500MB data, 30 voice minutes and 30 SMS’ every month on your FNB Connect with an extra 500MB data if you top up your FNB Connect SIM with R100 or more during the month.
- Spend and save with FNB and eBucks, meet the qualifying requirements and you could get rewarded with a R1,500 voucher towards a new pair of shoes every year. Terms, conditions and earn rules apply.
“We pride ourselves on putting customers at the centre of our financial solutions and the changes we are implementing demonstrate our commitment to value-based banking, especially during these tough
“More importantly, when you bank with FNB, what you see is what you get. There are no hidden charges,” Gwerengwe concludes.