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Cashless card withdraws R2bn

FNB’s cardless cash withdrawal has achieved its four year milestone with over R2 billion withdrawn since its launch in February 2011.

The feature, added to the existing cellphone banking platform which launched in 2005, answers the need of customers who want to withdraw cash from an ATM but do not have a card present at that point in time.

There is a certain level of angst that one experiences when you realise that you don’t have your card with you and you need cash,” says Sandi Madikiza, Head of Cellphone Banking at FNB.

By combining cellphone banking, which is a simple menu driven application with ATM functionality, we are able to add value to our customers’ lives by giving them instant access to cash when they need it.

Whilst banking and technology continues to evolve, the South African landscape is of such a nature that products and services need to serve both the tech savvy as well as those who are still hesitant to use technology. The month on month increase of cardless cash withdrawals however, serves as proof that more people are realising the convenience of the service and that an increasing number of customers are trusting mobile banking to conduct their banking affairs.

As the uptake on mobile banking increases we will continue to enhance our digital banking platforms to include features that enhance the banking experience making the everyday lives of our customers easier,,” concludes Madikiza.

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