Customers banking with South Africa’s First National Bank (FNB) have been urged to use the bank’s digital and electronic banking channels as another way to save during this National Savings Month.
By using channels such as FNB Banking App, FNB Online Banking or Cellphone Banking, you can save between 75 and 100% on day-to-day transactions, the bank said today.
“Digital and electronic platforms are far more cost effective than traditional channels such as branches and ATMs,” head of FNB Connect ISP and business operations Farren Roper said in a statement from the South African commercial capital Johannesburg.
Roper said digital banking increases efficiencies for the bank as it is more streamlined and less labour intensive.
This drives down the bank’s transactional costs, which in turn, allows the bank to pass this saving onto the customer, he explained.
The variety of digital and electronic banking channels offered by FNB allows customers to save on bank charges irrespective of the device in use, the statement added.
Independent market studies such Solidarity Report* and Finweek Bank charges report have over the last few years recognised FNB as the market leader in affordable banking.
The bank’s uptakes on the FNB Banking App reached the 500 000 active user mark in June 2013, and had the largest online banking market share of 35% in South Africa, according to the AMPS survey of December 2012.
This proves that more customers are discovering the benefits of these electronic channels, Roper concluded.
(Issued by FNB, final editing by Issa Sikiti da Silva)