FNBy accounts are transactional accounts available to children and young adults under the age of 25. The account comes in 3 options, with monthly service fees ranging from R0.00 to R12.00.
The FNBy account also includes the option to select an Islamic banking FNBy account. An Islamic FNBy account is a Shari’ah-compliant transactional account for those aged 25 and under.
The FNBy Bank account is available in 3 options: FNBy for those under the age of 18, FNBy Next for those between the ages of 18 and 24, and FNBy Next with bundles for those between the ages of 18 and 24. The account is discussed in detail below.
FNBy Bank accounts are available in three varieties: FNBy for under-18s, FNBy Next between 18 and 24, and FNBy Next between 18 and 24. (bundle option).
FNBy charges a monthly account fee of R0.00 for those under the age of 18. The account is intended for minors under the age of 18. The account includes up to 40% off Spotify and Netflix subscriptions.
FNBy Next accounts are available in two varieties, with fees ranging from R0.00 to R12.00. The account includes a broad range of cash investment options.
FNBy Islamic account option is also available which charges a monthly account fee that ranges between R0.00 to R12.00.
The FNBy Bank account has several benefits, which are listed below.
What the Under 18 get | What the 18 to 25 get |
---|---|
Free unlimited swipes with the FNBy debit card | Free unlimited swipes |
Have an option to redirect fees to parent’s or guardian’s account | Has a free e-wallet balance enquiry |
The account has free unlimited electronic transfers and payments | Free electronic transfers and payments |
Access to the FNB App 24/7 | Comes with free subscriptions to all digital channels, zero data charges when using FNB App |
Free subscription to all digital channels, zero data charges when using the FNB App | Access to the FNB App 24/7 at no extra cost |
Free balance enquiries when using the FNB App | Free card delivery anywhere in South Africa |
InContact transactional messages will be sent to your parent or guardian | You receive account activity alerts through SMS |
Access to 100% of your money with a day’s notice at no cost | Once you turn 18, you get access to FNB’s full range of cash investment solutions. |
You receive interest on balances above R100.00 | You can get up to 1GB back in data on FNB Connect Airtime, voice, data or SMS purchases from your FNBy account |
40% off on selected local and international flights through eBucks travel | |
If under the age of 2, you qualify for the main family member discounts | |
Comes with 100% guarantees on deposits and quoted returns | |
Have an option to reinvest your interest or redirect it to another bank account | |
There are no monthly transactional fees | |
You can get up to 1GB back in data on FNB Connect Airtime, voice, data or SMS purchases from your FNBy account |
Fee Description | Under 18 | Between 18 – 24 | Between 18 – 24 (bundle) |
---|---|---|---|
Monthly Account Fee | Free | Free | R12.00 |
Cash withdrawal @till | Free | Free | Free |
FNB ATM withdrawal | R7.00 per R1000.00 | R2.30 per R100.00 | Free |
Cardless cash withdrawal | R7.00 per R1000.00 | R1.15 per R100.00 | up to R1,500.00 free thereafter R2.30 per R100.00 |
FNB branch withdrawal | R80.00 + R2.85 per R100.00 | R80.00 + R2.85 per R100.00 | R80.00 + R2.85 per R100.00 |
Other bank’s ATM withdrawal | R12.00 + R2.85 per R100.00 | R12.00 + R2.85 per R100.00 | R12.00 + R2.85 per R100.00 |
International ATM withdrawal | R80.00 | R80.00 | R80.00 |
International branch withdrawal | N/a | N/a | N/a |
Cash deposit at FNB ATM | R1.30 per R100.00 | R1.30 per R100.00 | Free up to R3,000.00 and R1.30 per R100.00 thereafter |
Cash deposit at FNB branch | R80.00 + R2.85 per R100.00 | R80.00 + R2.85 per R100.00 | R80.00 + R2.85 per R100.00 |
Deposits at till point | R19.95 | R19.95 | R19.95 |
Card purchases | Free | Free | Free |
Currency conversion rate | 2% | 2% | 2% |
Payments using online banking | Free | R1.00 | Free |
FNB consultant assisted payments | R80.00 | R80.00 | R80.00 |
Internal debit orders | N/a | Free | Free |
External debit orders | N/a | R3.50 | Free |
Cancel debit order online | N/a | Free | Free |
Cancel debit order through telephone | N/a | R40.00 | R40.00 |
Branch debit order cancellation | N/a | R80.00 | R80.00 |
FNB’s FNBy Bank Account is one of the most effective methods to introduce your child to banking and save money. FNB pays account holders based on the number of years they have banked with them, thus if you have a FNBy bank account, FNB will reward you generously by allowing you access to loans as soon as you reach 18 or start earning an income.
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