Home Banks South African monthly spend on prepaid revealed

South African monthly spend on prepaid revealed

First National Bank (FNB)
First National Bank (FNB)

JOHANNESBURG – EASY Smart Option clients if the First National Bank (FNB) with a R5 500 net monthly income spend over 4 percent of their income on prepaid services every month.

First National Bank (FNB)

This equates to spending R200 on such services as data, voice and short message service (SMS).

Pieter Woodhatch, Chief Executive of FNB Easy sub-segment, said tough economic conditions had put pressure on households especially those in entry-level income brackets, with consumers having to stretch their budgets even further to meet their monthly obligations.

“Telco spend comes out quite prominently because customers are using a large portion of their income to buy data, airtime and voice minutes,” he said.

As of July 1, FNB started rewarding qualifying Easy customers with free data, airtime, voice minutes and SMSes each month.

Customers who hold Easy Account Smart Option qualify for free 30 voice minutes, 80MB data, 30 SMSes on FNB Connect.

Cumulatively, the FNB Connect benefits for Easy equates to the monthly fees on the respective bank accounts, this is a major cost-saving for customers. In addition, on Easy Smart Option customers can, in addition, earn R50 in airtime on FNB Connect by only spending R1 or more at Usave/Checkers/Shoprite.

Len Pienaar, FNB Connect Chief Executive Officer, said while there were various benefits available to every qualifying FNB Retail customer, this would go a long way in alleviating the financial pressure in this income segment.

“Over the years, we’ve invested heavily to ensure that FNB Connect becomes a telco provider of choice for FNB customers, and we continue to make sustainable inroads into the FNB customer base,” Pienaar said.

The FNB Easy Smart Option account also offers a range of other free benefits, including free legal, financial and medical advice.

– CAJ News


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