More than 50,000 people have registered for FNB’s eWallet eXtra within the first month of launching.<\/p>\n
eWallet eXtra is primarily aimed at South Africa\u2019s unbanked market, allowing users to view their bank account balance and transaction history on their mobile phone at any time.<\/p>\n
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.<\/p>\n
“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.<\/p>\n
“All that is required is a name, surname, ID number and thereafter the customer is issued with a unique account number.<\/p>\n
“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.<\/p>\n
Zikali added that increased mobile device penetration has necessitated the development of innovative banking solutions.<\/p>\n
These solutions are especially game-changing for consumers with limited banking options, she said.<\/p>\n