FNB drops fee to cancel unauthorised debit orders

FNB has waived its fee for stopping unauthorised debit orders, the bank announced.

The dropping of the fee applies to cancelling unauthorised debit orders through its electronic banking channels.

FNB said it is also clamping down on business customers who are facilitating unauthorised collections.

Ryan Prozesky, FNB Consumer Core Banking CEO, said the issue of unauthorised debit orders is of great concern to them.

“We believe that eliminating fees associated with stopping debit orders via our electronic channels will empower customers,” he said.

“Customers will no longer be charged for stopping unauthorised debit orders of less than R200 through the FNB App, Online Banking, and USSD.”

Prozesky said FNB is also monitoring non-FNB businesses that are processing illegal debit orders on FNB customers.

“Debit orders that are higher than R200 can still be stopped, disputed, and reversed via our contact centre or at any FNB branch, at a fee.”

Now read: Standard Bank “credit card fee” under investigation

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FNB drops fee to cancel unauthorised debit orders