FNB Smart Account....

[Zenbaas]

I have seen these add for this (Smart) account more and more recently. If i remember correctly there is a monthly charge of R60 for this particular account. I am currently with Standard bank. Does anyone know if they offer a similar product..? I tried to have a look but i wasn't able to find much.

And for those who do have this account...any opinions..? Hidden costs..?

What features and benefits will I enjoy with an FNB Smart Account?

* FREE inContact - FNB's messaging service that sends you an SMS or e-mail every time a transaction above R50 takes place on your account.
* R1 000 FREE Funeral Benefit as long as the account remains active.
* No monthly subscription fees for Cellphone, Telephone or Online Banking
* No transaction fees paid on Cellphone Banking transactions, for example, balance enquiries, purchasing prepaid airtime, payments, inter account transfers and mini statements.
* Withdrawals can be done at any FNB branch, FNB ATMs and SASWITCH ATMs.
* Scheduled payments and debit orders can be signed to make regular payments to accounts.
* Interest rates are tiered, earning a better rate with balances above R4 500-00. Interest is paid on daily balances and capitalised monthly.
* No minimum balance required.
* Bank cheques are available on customer's request.
* Funds can be transferred between accounts, for example, using Cellphone Banking.

Thanks

 

[cyberarmy]

Most basic account with FNB with minimal interest. I was told (when I was applying CC )that with this account whatever you have inside will not count towards your credit history. Hence I upgraded to a Silver Cheque, R66 unlimited electronic transaction. And I remember they don't have debit order facility for smart account (at least they don't have it a few months back when I checked).

 

[Frankie]

I have the Smart Savings account - I keep the balance above R6000 to avoid monthly fees and get six transactions free.
This suites me as I only use it for the occasional internet transaction.

This week I confirmed that ABSA cannot offer a similar arrangement as their basic account would incur a R20/month internet access fee.

 

[Frankie]

Most basic account with FNB with minimal interest. I was told (when I was applying CC )that with this account whatever you have inside will not count towards your credit history. Hence I upgraded to a Silver Cheque, R66 unlimited electronic transaction. And I remember they don't have debit order facility for smart account (at least they don't have it a few months back when I checked).

I have debit orders on my smart account - I changed from a cheque account to this about 4~5 years ago and had the debits from then.

 

[ic]

Most basic account with FNB with minimal interest. I was told (when I was applying CC )that with this account whatever you have inside will not count towards your credit history. Hence I upgraded to a Silver Cheque, R66 unlimited electronic transaction. And I remember they don't have debit order facility for smart account (at least they don't have it a few months back when I checked).

FNB also told me that a Smart Savings account does not count towards one's credit history & rating.

One thing that is nice about FNB, is that FNB can convert [or 'upgrade'] a savings account into a cheque account - it takes 30 minutes or less, and one keeps the same account number and branch code.

I have debit orders on my smart account - I changed from a cheque account to this about 4~5 years ago and had the debits from then.

Yep, Debit Orders definitely do work with a Smart Savings account.

 

[Barefoot Billionaire]

Yes, Standard bank does offer a fee-smart account, but they are surprisingly shy about marketing it. If you go the standardbank website and click on:
Rates, fees and prices>
Account fees>
Personal transaction accounts>
you'll find the fixed fee accounts on page 3. It's R80 for the fixed fee classic account.