First National Bank (FNB) announced in a press release issued today (23 January 2012) that it is making its eWallet service available to non-FNB customers through a partnership with PEP.
Any South African consumer with a bar-coded South African ID can deposit money, send money, withdraw money, make payments and purchase goods at any PEP store in the country, FNB said. Previously only FNB customers were able to use eWallet.
Asked whether users will be able to transfer funds between eWallet and other cellphone-based wallets, FNB said that such transactions aren’t supported.
FNB explained that when you deposit money at PEP you create an eWallet for which the recipient will receive the relevant details. Anyone receiving money with eWallet will have to follow the eWallet process to withdraw the money.
Once you have made a deposit at PEP you can use your cellphone to send money to any valid South African cellphone number, said FNB.
eWallet works on any network and any valid South African cellphone number.
The table below shows the costs associated with eWallet transactions.
|Deposit at selected retailers||9.95|
|Withdrawal at selected retailers||2.0|
|Withdrawal at FNB ATM
||R5.00 (per R500)|
|Prepaid (airtime and electricity)||2.0|
|Pay from eWallet to a bank account||2.0|
|Note: Pricing valid until end of June 2012|
FNB also provided instructions on how to use eWallet at PEP stores.
How to use eWallet at PEP (Sender):
- You require a valid RSA ID and Cellphone number.
- The cashier scans your ID and captures the Cellphone number.
- (If this is the first time you use the service, the cashier will capture your name and surname as well).
- You’ll hand over the amount of money you want to deposit into you eWallet to the cashier.
- You’ll receive an SMS confirming your deposit on eWallet.
Send Money with eWallet
- Having received funds into the eWallet (deposit at PEP, Money transfer via FNB cell phone banking/another eWallet/internet/ATM), dial 120277# from your cellphone and select “Send Money” Option
- Enter the cellphone number of the person you want to send money to.
- Key in the amount you want to send and confirm.
- Recipient receives SMS confirmation.
How to use eWallet at PEP (Recipient):
Withdraw at any PEP store
- Recipient can withdraw money at any PEP store or FNB ATM.
- You will receive SMS confirmation of how much money has been sent and who sent the money.
- Dial *120* 277#.
- Select Withdraw cash and thereafter select Retail PIN if you are PEP store.
- You will receive SMS with Reference number.
- Provide the cashiers with the Reference number, cellphone number and amount you want to withdraw.
- Enter PIN on the PIN Pad and the cashier will hand you over the amount of money you have requested.