FNB banking customers with FNB Connect SIMs are now eligible to receive a free monthly allotment of mobile data, voice minutes, and SMSs.
The bank first announced on 30 May that it would launch this FNB Connect offering for cheque account holders, and it began rolling it out to all new and existing customers from 1 July 2019.
FNB Connect SIMs are only available to banking customers and can be managed through the FNB app along with the user’s bank account.
MyBroadband spoke to FNB Connect CEO Len Pienaar about the direction of the mobile virtual network operator (MVNO) and the free telco offering provided by the company.
Free FNB Connect offerings
FNB customers who have an existing account and an FNB Connect SIM will be provided with free data, minutes, and SMSs every month, and new customers can also take advantage of this offering.
Below are the eligible FNB accounts along with their monthly FNB Connect offerings:
|Easy (Smart Option)||30||30||80MB|
Easy Account customers can also earn R50 in FNB Connect airtime by spending R1 or more on Easy Accounts at Usave, Checkers, or Shoprite.
Pienaar told MyBroadband that these offerings are aimed at onboarding banking customers by delivering attractive mobile offerings.
He added that the bank has seen a great initial response to these plans in the 10 days since its launch, with many account holders adopting FNB Connect or opening an FNB account to access the free monthly data.
“From 1 July, the vast majority of our customers have been receiving free MVNO services as part of their bank account at the normal monthly price,” Pienaar said.
“What we have seen in the first ten days has been very encouraging.”
FNB Connect also offers monthly top-up packages to customers, which include minutes, mobile data, and SMSs.
These packages are available on a month-to-month basis and offer up to 30% more value than equivalent prepaid bundles.
“The Lifestyle Top Up package is a month to month package that is ideal for our traditional pre-paid customers but offers pricing normally only associated with a fixed-term contract,” Pienaar said.
“No credit checks are required and a customer can cancel the package or change it with a month’s notice.”
When asked about the potential effects of the spectrum allocation expected to take place later this year, Pienaar said that FNB Connect’s prices would react in proportion to other mobile operators.
“As data becomes more affordable, obviously the costs of our packages will also decrease,” Pienaar said.
He added that FNB Connect is also affected by the lack of available spectrum, as this has a similar impact on its data prices as an MVNO.
If more spectrum were to be allocated to mobile operators, Pienaar said that FNB Connect’s prices would be adjusted according to movements in the rest of the market.
MyBroadband asked Pienaar what FNB Connect’s total subscriber base stood at following the launch of this offering, but he said the bank was in a closed period and could not provide exact figures regarding the adoption of its MVNO.