Till transactions on the increase

By Staff Writer

First National Bank (FNB) has announced that it is seeing an increased number of customers buying and withdrawing from Point of Sale (POS) transactions. About 30% of FNB's mainstream customers make regular POS transactions a month, with 12% of these customers withdrawing cash at the same time. The average value of the POS transactions is just under R315.

Point of Sale (POS) transactions - in other words paying for purchases using your Smart Account Visa Electron Card and/or doing a cashback transaction has increased as customers are capitalising on the convenience, safety and cost-effectiveness of this channel.

Pieter du Toit, CEO of FNB Smart Product House says, "The growth in POS transactions reflects that this solution is a value-add to our customers and addresses one of their critical needs that is being able to safely access banking facilities outside of normal banking hours."

"Transacting at a till decreases the likelihood of card skimming and it more affordable - it only cost 90c to pay for purchases and it is free to withdraw a maximum of R500 when using a debit card at the till," adds Du Toit.

"As we draw closer to the festive season we recognise that our customers are looking to make their Rands stretch further. We also know that there is not much time, so POS transactions mean customers don't have to queue twice - once at an ATM and then at the shop till- this is just another way FNB is living up to its brand promise of how can we help you," concludes Pieter.

It's also nice to note that FNB Smart Account holders can make cash withdrawals at Shoprite supermarkets countrywide for FREE until 31 December 2010.

Do you think the FNB Smart Account is for you? Use our comparative calculator to find out.

Recent Articles

Featured Keeping your money safe when travelling overseas

Whether it’s for business or leisure, overseas travel offers you the opportunity to see and experience more of the world. However, it does come with risks, and financial fraud is not the least among them.

The differences between assets and liabilities

There are many investments you’ll make in your lifetime, some of them worthwhile, others not so much. It seems reasonable to imagine that solid investments are assets, and their poorly-performing counterparts are liabilities.

How to avoid being a victim of ATM theft

In South Africa, ATM theft is a big problem. We have a look at what you can do to stay safe while using an ATM, and we consider a couple of tips that are worth keeping in mind.

Should you always buy property with a view to sell?

Property is one of the most significant investments you’ll ever make. Not only does it potentially provide you with a home, but it can offer you a source of rental income, or attract a profit if you decide to sell.

Deals

Black Friday at Hotel Sky

Price: R1,050
When: 25 - 28 November 2021
Where: Sandton and Cape Town

Mangwanani African Spa’s Black Friday Deal

Price: From R699
When: 19 - 26 November 2021
Where: Nationwide

Sundowners special at the President Hotel

Price: Available on request
When: Daily
Where: Cape Town


Latest Guide

Guide to debt rehabilitation solutions