FNB Platinum Business Account Review 2021

Published by
Lethabo Ntsoane

An upgrade from the FNB Gold Business Account, the FNB Platinum Business Account is an account that is more suitable for sustainable businesses. The account offers top of the range transactional and banking facilities. 

The account comes with a number of benefits that go beyond banking such as access to SLOW lounges and wealth management services. When you link your petrol card with the FNB Platinum Business Account, you get free roadside assistance for roadside emergencies. 

The Platinum Business Account comes with access to the instant accounting software that enables businesses to record transactions as they happen. This is because every transaction that is performed on the Platinum Business Account is entered into the affected accounts. 

The account offers specialised banking services. This is because the account is tailor-made to suit the banking needs of almost any industry. Any business that operates in any industry in South Africa can open this account as specific adjustments will be made on this account for that business. 

The Platinum cheque account comes with an overdraft facility for your business to access cash when there is none in the Platinum cheque account. An overdraft facility helps in many ways and the most important is helping you meet your business short term obligations when there is no cash in the bank account. 

However, the overdraft facility comes with an interest. Moreover, the overdraft amount that your business can use will depend on how much overdraft your business qualifies for. To get an overdraft facility, your business will need to apply for it. 

FNB Platinum Business Account Summary

FNB Platinum Business Account is a second-tier business cheque account. The account is specifically designed for businesses with an annual turnover of R5,000,000.00 to R60,000,000.00. The account charges an international transaction rate of 2.75% per transaction. 

FNB Platinum Business Account comes in two pricing options being the single fee and the Pay As You Use pricing options. The single fee facility comes in two options. Option 1 charges R465.00 per month and option 2 charges R630.00 per month.

The Platinum account’s single facility option 1 comes with 60 free electronic debit transactions whereas option 2 comes with 90 free electronic transactions. The Pay As You Use pricing option charges a monthly service of R135.00. 

FNB Platinum Business Account Benefits

  1. The account comes with more electronic debit transactions.
  2. Comes with unlimited card swipes.
  3. Cardholders get access to the slow lounges locally and abroad.
  4. There are a number of pricing options that a business can choose from depending on the transaction and banking services it needs.
  5. Clients get access to business on-call service, whereby a business representative can get free advice on banking from an FNB client consultant.
  6. Free access to the FNB digital platforms.
  7. Prepaid purchases are for free.
  8. Can use the FNB cellphone banking app for free when in South Africa.
  9. Clients get free access to a business or relationship manager who will assist the business whenever needed.
  10. Comes with free electronic transfers.
  11. The Pay As You Use account comes with a very cheap monthly service fee.
  12. The business’s last 12 month’s bank statements are available for free on the FNB App or FNB online banking for business.

FNB Platinum Business Account Fees 2021

#Fee descriptionPay As You UseSingle fee Option 1Option 2
1Monthly Service Fee R135.00 R465.00R630.00
2Electronic debit transactions through FNB digital platforms R15.00Free 60 transactions thereafter R18,00 per transaction Free 90 debit transactions thereafter R17.00
3FNB ATM cash withdrawals R2.00 per R1000.00Free 10 cash withdrawals thereafter R2.00 per R1,000.00Free 10 cash withdrawals thereafter R2.00 per R1,000.00
5Cash deposits done at an FNB ATM with cash deposits onlyR4.50 + R1.04 per R100.00 or part thereofFree up to R150,000.00 thereafter R4.50 +R0.70 per R1000.00Free up to R250,000.00 thereafter R4.50 +R0.70 per R1000.00
6Electronic Pay and Clear nowR45.001 Free thereafter R35.00 per transaction 1 Free thereafter R35.00 per transaction
7Electronic Transfers FreeFreeFree
8Transfers at an FNB branchR15.00R15.00R15.00
9Consultant assisted Transfers R80.00R80.00R80.00
10International currency commission and conversion fee2.75% of the transaction value2.75% of the transaction value2.75% of the transaction value
11Other  bank’s ATMs prepaid purchasesR15.00R15.00R15.00
12FNB Connect prepaid purchases Free FreeFree
13External debit order feeR19.00R19.00R19.00
14Third-party payments at an FNB branch R80.00R80.00R80.00
15Stop payment using digital channelsFreeFreeFree
16Stop payment at an FNB branch R80.00R80.00R80.00
17Debit order dispute using digital channels R5.00R5.00R80.00
18Debit order dispute at an FNB branch or telephone banking R40.00 R40.00R5.00
20Reversal of incorrect eWallet transaction R55.00R55.00R55.00
FNB Platinum Business Account Rates and Fees 2021

Competitive Advantages of the FNB Platinum Business Account

  • Can apply for the account online and it is even easier for existing FNB business account holders to open the account.
  • There are a number of payment plans that one can choose from.
  • Comes with free access to the FNB digital platforms.
  • Clients get automatic entry to the FNB eBucks rewards program.
  • The account gives companies free access to the FNB instant accounting software.
  • Comes with SLOW lounges access.
  • The account can be tailored to suit your industry needs.

Competitive Disadvantages of the FNB Platinum Business Account

  • The account requires too much turnover to qualify for.
  • Out of bundle transactions come at a premium.

Requirements of the Account

  1. Must be a registered company in South Africa.
  2. The company representative needs to have the mandate to open a bank account accompanied by minutes of the meeting. If the directors of the business are present at the bank, there won’t be any need for a mandate and minutes.
  3. Have all the directors’ proof of identification.
  4. Have the company registration documents.


The FNB Platinum Business Account offers great services to small and medium enterprises as they transact more and require more attention. The account has added transactions and comes with premium services. 

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 at

Published by
Lethabo Ntsoane
Tags: FNB