First National Bank’s (FNB) Mzansi customers can now set up debit orders and perform third-party payments on their accounts via cellphone, automated teller machines (ATMs) and branches.
This means that FNB is the first bank to improve its service offerings to its Mzansi customers, who, until now, were limited to basic services, including cash withdrawals and deposits.
Now FNB’s Mzansi customers can perform additional functions on their accounts — third-party payments and debit orders. While these customers already had access to FNB’s cellphone banking service, they can now also use their cellphones to make third-party payments.
Further good news is FNB’s three-month free cellphone banking offering to all its customers, which was launched last week.
“Although traditionally unbanked, Mzansi customers are fast becoming comfortable using South Africa’s advanced banking systems,” said FNB mainstream transactional banking CEO, Linè Wiid.
The Mzansi customers’ banking requirements have evolved at a fast pace since this account was launched approximately two years ago. FNB has established that these customers now require additional services to improve their banking experience.
“FNB has taken a proactive approach by introducing additional functionalities to meet their changing banking requirements in keeping with their improving lifestyle,” said Wiid.
She added: “Through this development, we have helped our Mzansi customers progress from basic banking and are now offering them a choice of additional payment solutions.”
By using debit orders, customers can now make monthly payments, for example, a funeral policy and utility bills such as water and electricity accounts.
“These facilities have substantial cost-saving advantages, including saving customers time and transport costs, as they do not need to travel to a bank, ATM or retailer to settle their accounts. Mzansi customers can now also minimise the security risk associated with carrying large amounts of cash,” said Wiid.
FNB’s new Mzansi initiative demonstrates the bank’s unwavering commitment to finding practical ways to achieve the goals set by the Financial Sector Charter to extend banking services to previously unbanked South Africans. — I-Net Bridge