FNB’s eWallet has been recognised as an Icon Brand and a Category Winner in the Money Transfers Category in the 2022/2023 Ask Afrika Icon Brands Benchmark Survey. According to the survey, an Icon Brand is one that unites a nation, one that South Africans are loyal to, and one that South Africans are committed to. One of the main objectives of this study is to identify brands that have become iconic with South African consumers.
“It’s a tremendous honour to earn this accolade for one of South Africa’s beloved financial and digital solutions,” says Zibu Nqala, CEO of FNB Entry Wallet. “eWallet has been the go-to solution for South Africans looking for a helpful, easy, and safer way to send and receive money. Over the years, we’ve added more features such as allowing customers to use money in eWallet to buy airtime and data. We continue to see strong growth in the use of eWallet, with nearly 8 million active eWallet users and it remains popular among recipients who do not bank with FNB,” she adds.
FNB customers made over 59 million eWallet transactions totaling R34 billion (up 11%) in withdrawals in the previous year. eWallet, which was launched in 2009, allows FNB customers to send money to any recipients with a cellphone, and the money may be withdrawn from FNB ATMs or select retail stores without incurring any charges. FNB has improved the value of eWallet by allowing qualifying individual customers more opportunities to send money through eWallet without paying a fee.
Over the years, FNB has leveraged the popularity of eWallet to provide more cost-effective solutions for Entry customers. This includes the introduction of the FNB Easy Zero bank account, which has accumulated more than 1 million customers, demonstrating substantial growth. To open an Easy Zero bank account, you only need your full name and identification number, and you can use any mobile phone. Easy Zero prohibits debit orders, providing customers with peace of mind.
“eWallet and Easy Zero are examples of our commitment to meeting the needs of every customer. As part of our efforts to remain relevant to customers, we are continuously modernising our value propositions and approach to helping them navigate life. This evolution is apparent in the recent refresh of our digital interfaces, such as the FNB App, and our brand’s visual identity. All this is consistent with our shift from analogue to digital and now digital to platform,” concludes Nqala.
