FNB pays clients R50 million in telco incentives

First National Bank (FNB)

First National Bank (FNB)

JOHANNESBURG, (CAJ News) FIRST National Bank (FNB) has given over R50 million worth of data, voice minutes and SMSes to 460 000 customers in the past month.

The rewards were given to both existing and new account holders as a value add.

Len Pienaar, Chief Executive Officer of FNB Connect, said the incentive had been popular with customers and a firm indication that telco was a vital part of the day-to-day activities of South African consumers.

“We are delighted to be able to help our customers manage their telecommunications spend in these challenging economic times,” Pienaar said.

On July 1, FNB announced that Easy Smart Option, Gold, Premier, Private Clients and Private Wealth bank accounts customers would each get free monthly data, voice minutes and SMSes on their FNB Connect Pre-paid, Top Up or Post-paid SIM.

This is part of its annual pricing review which became effective then.

Christoph Nieuwoudt, CEO of FNB Consumer, said telco accounted for a significant portion of customers’ daily and monthly spend.

However, some are unable to afford this because of associated costs, hence FNB was expanding the scope of banking to look at customer needs holistically.

“Under the current economic environment, we hope to help customers improve their overall money management of which telco forms part of the expenses,” Nieuwoudt said.

– CAJ News

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