FNB eWallet

FNB eWallet

FNB eWallet is a mobile money transfer service offered by First National Bank (FNB). It allows FNB customers to send money instantly to anyone in South Africa using just a mobile phone number. The recipient doesn’t need to have a bank account to receive the money; they can withdraw it at any FNB ATM or selected retail stores.

How Does FNB eWallet Work?

Sending money via FNB eWallet is simple and user-friendly. Here’s a step-by-step guide:

1. Login to FNB Online Banking or the FNB app.
2. Select “eWallet” under the “Payments” section.
3. Enter the recipient’s mobile number and the amount you want to send.
4. Confirm the details and click “Send.”
5. The recipient will receive an SMS with instructions on how to access the funds.

The funds can be withdrawn immediately, or the recipient can use the eWallet for in-store purchases, buy prepaid airtime or data, and even pay for services like electricity.

Key Features of FNB eWallet

FNB eWallet comes with a host of useful features:

• Instant Transfers: Money is sent and received within minutes, making it ideal for emergencies.
• No Bank Account Required: The recipient only needs a mobile phone to receive money.
• Multiple Access Points: The recipient can withdraw money from any FNB ATM or use the funds at partnered retail stores like Shoprite, Checkers, or Boxer.
• Safe and Secure: Transactions are protected through one-time PINs (OTPs) and mobile notifications.
• Track Transactions: Both senders and recipients can view their transaction history through the FNB app or by dialing the USSD code on their phones.

How to Withdraw Money from FNB eWallet

If you’ve received money through eWallet, withdrawing it is straightforward. Follow these steps:

1. Go to any FNB ATM.
2. Press “Proceed” or “Enter” without inserting a card.
3. Select “eWallet Services.”
4. Enter the OTP (one-time PIN) you received via SMS.
5. Input the amount you want to withdraw.
6. Confirm and receive your cash.

Alternatively, you can withdraw money at selected retail stores, where you’ll need to provide the cashier with your mobile phone number and OTP.

Fees Associated with FNB eWallet

While FNB eWallet offers a lot of convenience, it’s important to be aware of the fees involved:

• Sending Money: FNB charges a nominal fee based on the amount being transferred. For example, sending R500 might cost around R10. Check FNB’s official page for up-to-date fees.
• Withdrawal Fees: The recipient may also incur a small withdrawal fee when taking out cash from an ATM or a store.

How to Reverse FNB eWallet Transactions

Accidentally sent money to the wrong number? Don’t worry! You can reverse an eWallet transaction through FNB Online Banking or by contacting the bank’s customer support team. However, be aware that reversing transactions may come with a fee.

For more details on how to reverse an eWallet transaction, visit FNB’s help page.

Why Use FNB eWallet?

There are several reasons why FNB eWallet is a fantastic choice for sending and receiving money:

• Ease of Use: Whether you’re sending money to a family member or a friend, all you need is their phone number.
• Flexibility: Recipients can either withdraw the cash or use it for purchases and other transactions.
• No Account Needed: This makes it perfect for situations where the recipient doesn’t have a bank account or needs quick access to cash.
• Widely Accepted: You can use FNB eWallet to shop at major retail stores across South Africa, which means you can even do your grocery shopping without needing a bank card.

Limitations of FNB eWallet

While the service is convenient, there are some limitations:

Transfer Limits: FNB eWallet has daily and monthly limits on how much money can be sent or received. Currently, the daily send limit is R3,000 and the maximum balance you can hold in an eWallet is R5,000.

Expiry: The money in an eWallet must be used or withdrawn within 30 days, or it will be returned to the sender.