Browsing: FNB

Now FNB dumps Guptas

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First National Bank has closed the accounts of Gupta family-controlled Oakbay Investments, prompting Oakbay to demand an explanation from FNB CEO Jacques Celliers. FNB’s decision

You can now buy a funeral plan at an ATM

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FNB Life announced on Monday that consumers can now take up funeral plans through nearly 6 700 FNB ATMs and Slimline devices across the country. The insurance distributor and administrator’s CEO, Lee Bromfield, said in a statement that making

How the big banks’ ATM networks stack up

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South Africa’s big four retail banks have been steadily cutting the number of (costly) branches in recent years. That’s no surprise, given the shift in transactional banking to electronic channels. Those transactions that still need some form of physical

SA banks culling branches as IT spend rises

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While there’s been an outsize (and bizarre) outcry about First National Bank’s decision to close somewhere between 25 and 40 branches in a round of “optimisation”, the country’s big four retail banks have been steadily cutting the number of branches for years

Why FNB is right to cut branches

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When last did you visit a bank branch? A few months back? Longer? If it was not for that infernal requirement to have stamped bank statements every time you try and do something/anything, you

More details emerge on FNB branch closures

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First National Bank says it plans to close more than 20 outlets amid the growing adoption of digital banking channels. The bank came to the decision after it launched a review of branch related functions. The bank found that, during the expansion of

FNB to cut jobs, close branches

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First National Bank intends to axe 600 employee positions and close 40 retail branches as its customers shift to digital banking, according to a report. Bloomberg reported on Monday afternoon that the weak economy had also contributed to the cost-cutting

Behind the Sim-swap fraud fracas

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A recent spate of Sim-swap fraud cases saw First National Bank and MTN South Africa portrayed as the least trustworthy companies in their respective industries. Dozens of people have fallen victim to the Sim-swap scam, having hundreds of thousands of rand

Sim-swap victim feels ‘betrayed’

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Cape Town audiologist Gail Jacklin, who lost over R200 000 in a Sim-swap scam earlier this year, says she is emotionally drained and has lost trust in both First National Bank and MTN. Earlier this week, private consulting forensic

Inside job in FNB, MTN Sim-swap scam?

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A forensic investigator has alleged an inside job at First National Bank and MTN in a Sim-swap scam that pilfers customers of hundreds of thousands of rands. Private consulting forensic