Today we take a look at FNB’s eWallet; a service that allows FNB customers for send money to individuals around the country via their Cellphone number. The service is the simplest form of transferring money in a hurry if you’re an FNB client. To test the eWallet we selected the simple “send through Internet Banking to Cellphone” method, with the receiver withdrawing from any FNB ATM around the country.
How it works?
Simple really, being an FNB transactional account holder you would have access to free Cellphone or Online Banking (be it the web or FNB App). You can also process this at an FNB ATM if you are not connected.
• The FNB account holder selects the eWallet option on the main menu of whichever platform they choose to transact from via mobile.
• The sender now inputs a mobile number to send to and the amount. A message is sent through to the recipient, with instructions on how to withdraw the funds.
To withdraw, all the recipient has to do is follow the prompts which come through on their phone (dial *120*277#), SELECT “Withdraw Cash” on the menu, and a pin will be send through to your phone. You may take this pin to the nearest FNB ATM (Pin will be active for only 30 minutes), select the option on the main menu of the ATM, enter pin and done!
It’s a great way of getting cash to friends and family in a bind as well as allowing for sending money safely across larger distances. All it takes is the recipient to have a cellphone of any shape or form and they’re able to receive the money anywhere in the country. This useful and time saving product from FNB gets our thumbs up.
• You can receive money on the go, from FNB users.
• All you need is a cellphone to receive the money(any network, and the receiver need not bank with FNB)
• Sending the money is a simple process.
• No additional registrations required.
• Cost effective (only costs R8,50 to send up to R1000, and R12,50 from R1001 to R1500)
• Once the money is in the eWallet, the recipient has one free withdrawal per deposit made into the wallet
• Access to FNB ATM essential (for receiving money, as the “Selected Retailers” are not listed on the website)
• Mobile network access vital (this would apply to sending as the connection to a platform is required, as well as receiving the sms to confirm the transaction and pin etc)
The two major factors listed as Con’s would render the entire service unusable if they are not working, but in this day-in-age most users have an FNB ATM, around the corner and their cellphones in hand.