Posted on Dec 31, 2020 by Staff Writer
FNB Easy Account Summary
FNB Easy Account is a cheque account for making day to day transactions. This account is a first tier account from FNB, targeting individuals earning R1000.00 to R7000.00 over the age of 18. The monthly fees range from R0.00 to R65.00.
It is one of the best cheques accounts available.
FNB Easy account has three options:
FNB Pay As You Use
FNB Pay As You Use Account is for day to day use with reduced cash and cash @ till withdrawal fees. The FNB Pay As You Use Account charges fees whenever the account is used. The monthly fee for the account is R4.95 and you get billed for the transactions made. Suitable for those customers who don’t use their account as often.
FNB Zero Monthly Fee Account
FNB Zero Monthly Fee Account is a no-fee bank account, charging R0 on monthly account fees. This account targets students. It comes with a savings account that has competitive interest rates. Users can buy data and airtime for free on the FNB app with this account option.
FNB Easy Account smart
FNB Easy Account gives more value for both the account holder and his family. You get 24/7 medical advice, legal and financial coaching. There are other benefits such as : 10 free electronic transactions, Free savings account, FREE 80MB data, 30 voice minutes and 30 SMS on your FNB Sim. The account comes with a monthly charge of R59.00.
What does FNB Easy Account offer?
You get access to loans easily when you use the Easy Account. The Easy Account loans are approved in minutes upon application.
Using the FNB mobile app you can apply for loans without any need for documentation. You can find out the loan amount you qualify for and have access to the amount immediately.
All it takes is for you to accept the loan amount or adjust it to the amount that you want. FNB uses AI software to access your bank and give results of how much you qualify for.
With an easy account you can get a funeral plan. The plan cover up to R400,000.00 for you and your spouse if married. Claims are quick with up to 24 hour waiting period upon receipt of necessary documents.
The funeral plan comes with a 5% year to year escalation on premiums to curb inflation. You can cover up to 21 family members in one plan and all members are covered for life.
Cover is dependent on premium payments, therefore, on default no claims can be made.
The easy account comes with a free optional savings account. The savings account has competitive interest rate.
FNB app and internet banking
You get access to free internet banking and mobile app. You can bank anytime any anywhere at no additional cost. Mobile App and internet banking is subject to data usage and is not provided for by FNB.
FNB Easy Account Fees for 2021
|Fee Type||Smart Account||Pay as you earn Account|
|Monthly Account Fee||R59.00||R4.95|
|ATM Withdrawal Fee||R1.90 per every R100.00||R6.00 per every R1000.00|
|Till Withdrawal Fee||R1.00||R1.00|
|Withdrawal at other bank ATM fees||R9.50 + R1.90 per R100.00||R10.00 per R1000.00|
|Cash deposit at FNB ATM fees||R0.00||R1.00 per R100.00|
|Internal debit order fee||R0.00||R2.50|
|External debit order fee||R8.00||R3.50|
Choosing between a easy smart account and a pay as you use account will depend on your spending.
If you are a high frequency spender then easy smart account is the best option for you.
With easy smart account you receive unlimited internal debit orders and free in contact notifications.
Making many payments is not as costly and you don’t get billed to receive notification for every transaction.
Although the account comes at a high price, monthly fees can be minimized if used with care.
Pay as you use account incur low monthly added fees if used with caution.
If you withdraw cash @ till and make few transactions a month your monthly fees will be low.
The monthly fees can be lower than R59 provided that strict measures are made on how to use the account. This account can be costly if used many times.
If deposits, debit orders and atm withdrawals are made often they lead to high service fee charges.
FNB Easy Account Competitive Advantages
- Receive free Transfers & Scheduled Transfers via Online, FNB Banking App.
- Get free FNB Connect Airtime Purchases via Online or mobile channels.
- You can easily migrate to the gold account.
- Comes with free Scheduled Payments via Online, FNB Banking App.
- No charge on debit order stop when using internet and mobile app banking.
- Can get access to free historical statements online.
- Ewallet service comes with no monthly fee.
- Easy Account comes with different types of account options to choose from.
- Easy Account has a zero fee account.
FNB Easy Account Competitive Disadvantages
- Charges R8. 50 per unsuccessful transaction.
- Charges an amount for balance enquiry if assisted by an FNB consultant.
- There are charges for additional bank statements in a month.
- There are charges for linked accounts transfer if assisted by a consultant.
How to apply for FNB Easy Account
- Must have a South African ID.
- You can start your application online or
- If you have a mobile app then login, then go to Apply now > for me> choose easy account > enter relevant information > submit.
FNB Easy Account provides a secure and simple solution to banking. All added services are easy to use and come at less cost. There are things that you can benefit with easy account. You can get a funeral plan, have access to instant loans and overdrafts.
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