Categories: Reviews

FNB Easy Smart Account Review 2024

Published by
Lethabo Ntsoane

the FNB Easy Smart Account continues to be a popular choice for individuals seeking a versatile and accessible banking solution. This account, offered by First National Bank (FNB), caters to a range of financial needs while providing a user-friendly experience.

Key Features

The FNB Easy Smart Account boasts a comprehensive suite of features, including unlimited access to online transactions such as electronic payments (EFTs), internal and external debit orders, and prepaid airtime and data purchases. Additionally, account holders can enjoy the convenience of cash withdrawals or deposits up to R2,000 per month at FNB ATMs at no extra cost.

FNB Easy Smart Account Fees 2024

Transaction TypeFees (Rands)
Cash@TillTMNo charge up to R2,000 per month, thereafter R1.20 per R100
FNB ATM + FNB ATM with DepositsNo charge up to R2,000 per month, thereafter R2.40 per R100
Other Banks’ ATMs (incl. International)R12 + R2.40 per R100
Assisted Banking: FNB Branch (incl. International)R80 + R3 per R100
Cardless Cash WithdrawalsR80 (additional 2% commission and conversion fees apply)
Cash DepositsNo charge up to R2,000 per month, thereafter R1.40 per R100
Deposit@TillTMR19.95
Other Banks’ ATMs (incl. International)R80 + R3 per R100
Assisted Banking: FNB Branch (incl. International)R80 + R3 per R100 (additional 2% commission and conversion fees apply)
Balance EnquiryNo charge
Prepaid Airtime Purchases (App, Online)No charge
Prepaid Purchases – Other Banks ATMsR15
LOTTO™/PowerballR2.70
Prepaid Electricity<=R75: R0.50, >R150 &<= R150: R1.50, >R150: R3.00
DStv Payments (Applicable to the Buy tab on the FNB App)R7

Benefits of the FNB Easy Smart Account

1. Unlimited Access to Online Transactions

With the FNB Easy Smart Account, users can seamlessly manage their finances through unlimited electronic payments (EFTs) and debit orders, providing a hassle-free way to handle both internal and external financial transactions.

2. 24/7 Added Value Services

One standout feature of the FNB Easy Smart Account is the inclusion of 24/7 access to medical advice, legal, and financial coaching, providing account holders with valuable support when needed, all at no extra cost.

3. Cost-Effective ATM Transactions

The account allows for free cash withdrawals or deposits at FNB ATMs, with a cap of R2,000 per month. Beyond this limit, a 50% discount on cardless FNB ATM withdrawal fees adds to the cost-effectiveness of managing your cash.

Advantages of the FNB Easy Smart Account

1. Versatile Lifestyle Access

The FNB Easy Smart Account opens doors to various lifestyle benefits, including access to education, security, travel, and entertainment through partnerships with Udemy, ExtraMarks, GuardMe, QuickBus, The Entertainer App, and eBucks games on the FNB App.

2. Bank Your Change® Savings

Every swipe of the FNB Easy card allows users to save, starting from as little as R1, with the Bank Your Change® feature. This effortless savings method encourages financial prudence with each transaction.

3. FNB Connect Integration

Qualifying for eBucks Rewards brings additional perks, including data, voice minutes, and SMSs on your FNB SIM card through FNB Connect. The virtual card feature with Purchase Protect adds an extra layer of security for online transactions.

Disadvantages of the FNB Easy Smart Account

1. Monthly Fee

While the FNB Easy Smart Account offers a range of features, it comes with a monthly fee of R65. While this fee is reasonable considering the benefits, it may not be suitable for those seeking entirely fee-free banking options.

2. Cash Withdrawal Limits

Though the account allows for cash withdrawals at no extra cost, the monthly cap of R2,000 might be limiting for individuals with higher cash transaction needs.

Requirements for the FNB Easy Smart Account

Opening an FNB Easy Smart Account is a straightforward process, but certain requirements must be met:

  1. Proof of Identity: Valid South African ID or passport.
  2. Proof of Residence: Recent utility bill or rental agreement.
  3. Income Verification: Proof of income, such as payslips or bank statements.

Additional Information

1. Easy Smart Get Cash

Account holders can benefit from a 50% discount on cardless FNB ATM withdrawal fees once the R2,000 monthly withdrawal cap is exceeded, offering additional savings on cash transactions.

2. FNB Connect Data and Voice Minutes

Qualifying for eBucks Rewards allows users to enjoy data, voice minutes, and SMSs on their FNB SIM card, enhancing connectivity and communication options.

3. Virtual Card with Purchase Protect

The FNB Easy Smart Account offers access to a virtual card with Purchase Protect, providing added security for online transactions and peace of mind for account holders.

Conclusion

In conclusion, the FNB Easy Smart Account presents itself as a well-rounded banking solution with a variety of features and benefits. Its versatility, accessibility, and added lifestyle advantages make it an appealing choice for many, despite some associated fees and limitations. For those looking for a comprehensive banking experience with added perks, the FNB Easy Smart Account is certainly worth considering in 2024.

Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted: Email: lethabo@rateweb.co.za Twitter: @NtsoaneLethabo