MOST of Mzansi understands how important it is to save money but we all find it difficult to do.
FNB now has an innovation to help its customers save money when shopping with their bank cards.
Bank Your Change is a free feature available to all FNB customers who have a transactional bank account. Bank Your Change lets customers save a portion of their change every time they swipe their bank cards to buy goods or services.
For example, when a customer buys goods worth R52,50 using their FNB cheque or debit card, the buy amount is rounded up to the nearest R1, which means R53 debited to their bank account.
The 50c difference is sent to their savings account, which is opened with the transactional account at no additional cost.
But it doesn’t always to be 50c. Customers can also choose the denomination to round up at R1, R5, R10, R20 or R50.
Ryan Prozesky, CEO of value banking solutions at FNB, said: “Bank Your Change has gained attention among our customers by conveniently allowing them to save money without even thinking about it.”
Ryan said the innovation has helped customers save over R1 billion in the past 14 months from small change when shopping.
He said that apart from the ease and convenience, there is also a healthy reward for saving more using the Bank Your Change service.
FNB account holders with a savings accounts will earn a rate of up to 6,3% interest a year on all the money saved in their savings account.
Customers can also make additional transfers into this account free of charge and withdraw it at any time, without needing to give the bank any notice.
For more information about how to activate the Bank Your Change service or to learn more about the savings account, visit www.fnb.co.za