FNB Focuses on Fee Fairness in Digital Payment Space
First National Bank (FNB) is recalibrating its fee structure, ushering in a series of changes designed to enhance affordability and transparency for customers, particularly those using its Easy PAYU account. Effective 1 July 2025, these changes will touch various aspects of the bank’s offerings, including transaction fees, monthly charges, and eBucks rewards.
As part of its annual pricing review, FNB announced that real-time payment fees for Easy PAYU customers will be slashed by a notable 43%—dropping from R8 to just R3.50 per transaction. This move underscores the bank’s broader aim to simplify digital banking expenses for entry-level users and provide more accessible banking solutions.
The Easy Zero account, a staple among FNB’s low-cost offerings, will continue to offer zero monthly charges and unlimited card swipes. In another shift toward simplification, the bank is replacing cash withdrawal caps with flat fees on youth and other entry-level accounts.
Christelle Pretorius, CEO of Personal Core Banking at FNB, emphasized the customer-centric approach behind these updates. “Our aim is to bring greater clarity, simplicity, affordability, and value to our customers,” she stated, positioning the move as a direct response to evolving user behavior and cost-of-living pressures.
Fresh eBucks Rewards Adapt to Consumer Trends
In tandem with the revised pricing, FNB is rolling out a refreshed eBucks Rewards program, tailored to meet the lifestyle needs of a diverse customer base. These updates are designed to better reflect consumer spending habits, particularly in areas such as groceries, digital services, and transport.
Customers on the Easy and Easy Bundle tiers can now enjoy grocery vouchers of up to R100 at Pick n Pay, continue to purchase bread at just 99 cents, and access health-related benefits such as Clicks Clinic vouchers worth R120. Aspire account holders are being offered smartphone and meal vouchers, while Premier and Private Banking clients can receive up to 30% back at select retailers and weekly rewards from premium brands like Starbucks.
Pieter Woodhatch, CEO of FNB eBucks, highlighted that the updates stem from rigorous analysis of spending data. “We’ve made great strides in tailoring our rewards to cater to the real needs of consumers across all income segments, through the smart use of consumer insights,” he said.
In the past year alone, FNB’s eBucks programme returned R2.2 billion in value to its users, including the distribution of 3.4 million 99c bread vouchers and R295 million in eBucks spent at Engen fuel stations. These figures highlight the tangible benefits of the programme and reinforce FNB’s commitment to customer value.
As financial institutions adapt to a new era of digital-first, affordability-focused banking, FNB appears determined to lead the way with transparent pricing and meaningful rewards.