Now you can get cash via cellphone

2011-03-22 12:47

Johannesburg - First National Bank (FNB) on Tuesday announced a new offering: cash withdrawals using cellphone banking.

A first in South Africa, the option will allow FNB cellphone banking customers to withdraw cash directly from their FNB accounts at an FNB ATM without the use of any bank cards.

CEO of FNB Cellphone Banking Solutions Ravesh Ramlakan said: "The increasing number of South Africans choosing to bank via their cellphones is evidence of the channel's ease of use, safety and convenience."

"In developing Cash Withdrawal it was with the intention of providing our customers with 24-hour access to their cash - even without the use of a bank card," Ramlakan said.

Ramlakan explained that cash withdrawal using FNB Cellphone Banking works similar to a bank card, except that customers no longer need to use their bank cards to withdraw cash.

To withdraw cash using cellphone banking, customers need to log on to cellphone banking and select the banking option. They then have to select withdraw cash, and then the account from which they want to withdraw cash ie cheque account, savings account, etc.

Once the transaction is completed, the customer receives an SMS with a temporary ATM PIN to use at the ATM. "For security reasons, the temporary ATM Pin has to be used within 30 minutes of receipt and can only be used once," said Ramlakan.

"We've monitored customer behaviour and have found that they often have to enter a branch to get cash because they've left their bank cards at home. Now, when you forget your purse or wallet at home, or just quickly need cash for life's little emergencies, you can simply use your cellphone," he said.

  • Hannes - 2011-03-22 13:01

    GREAT! Well done FNB

  • Koos - 2011-03-22 13:23

    Nice one!!

  • john ngahu - 2011-03-22 13:26

    This is a good development. Is this only with FNB ATMs?

      John Juggle - 2011-03-22 14:45

      Yes, I don't think it will be available at other banks' ATMs at this stage. But it is a good start, I love the idea, no more carrying around a wallet if you go out.

  • erasmus.a - 2011-03-22 13:29

    What happens when your cell phone is stolen, does the holder of the cell phone now have access to my bank account??

      Ichabod - 2011-03-22 14:18

      Only if he has your password to log into your cellphone banking on your cellphone, so no, the holder of the phone won't automatically have access to your bank account.

      John Juggle - 2011-03-22 14:44

      No they don't. Because you have to log into cellphone banking using your moPIN before you can do anything.

      Bradley - 2011-03-22 14:53

      You have a pin code on cellphone banking

      Tigra - 2011-03-22 15:59

      Only if they have your cellphone banking pin number...

  • burtfred - 2011-03-22 13:34

    So what is the cost of using this product?

      Makutu - 2011-03-23 11:30

      Alright, credible question.

  • MOTEK-XX - 2011-03-22 13:38

    Awesome innovation FNB .....

  • Tseleng - 2011-03-22 13:38

    It's been almost a year using this why launch it now.

  • Gorilla - 2011-03-22 13:40

    In SA? Another reason to get murdered for your cellphone.

      Marius - 2011-03-22 14:41

      having your cellphone shouldn't give somebody access to your bank account anymore than having your computer gives them access to your internet banking. Stupid comment

      Abram Juice Ndlovu - 2011-03-28 15:30

      C'mon Gorilla. you really cant be serious with that. wait .... are you for real?

  • Limpopoist - 2011-03-22 13:40

    Keep on the good work.You are doing well to study your client behavior and act for thier benefits NOT robbing them after noticing their weak points.

  • fnud - 2011-03-22 13:44

    Um ABSA's been doing this for years. Absa Cash Send

      Ichabod - 2011-03-22 14:16

      Absa's CashSend does exactly that - send cash to another recipient. It doesn't allow a person to withdraw cash on their account by using a cellphone only and not a bank card, so in fact CashSend is completely different to this product. Very innovative by FNB.

  • hulimudau - 2011-03-22 14:20

    dats great

  • Mamaile - 2011-03-22 14:34

    wow!!!!!!!keep rolling in the modern advanced technology to Msanzi. we salute you a proud client of you for the past 17 years. Gogogogogo for it...

  • Perfume - 2011-03-22 15:21

    Cellphones are stolen every minute of the day, what happens in the case of your cell being stolen.....good idea FNB...but the thought still lies at the back of my mind of my cellphone being stolen.

  • gekko - 2011-03-22 15:25

    YAWN....I have been using this service for almost 3 years with ABSA!!

  • nick - 2011-03-22 15:30

    let me guess this uses the principle of token generation and RDP`s to match up a cellphone to a transaction all over USSD.

  • YES - 2011-03-22 15:37

    That's my bank, too and I am proud of.

  • Virginia - 2011-03-22 16:03

    Good, what security do we have that we will not be robbed of opur cellphones whilst doing this transaction? I know I sound neurotic, but can this happen to a client at the ATM?

  • Rapier - 2011-03-22 16:23

    Unfortunately, I am very sceptical of banks. I arrived at my local service station this morning to put in petrol for a journey. The ABSA ATM had been replaced with a Standard Bank ATM. I HAD to draw money, and used my ABSA Card - imagine my chagrin when I found that they had "stolen" R12,90 for a R300 cash withdrawal - HOW can they justify that, ANY BANK, and then talk about withdrawing with your cell phone? Don't get me wrong - I welcome modern technological advances, but not at the cost of YOU and I being ripped off, and no attention being paid to what the banks carefully avoid.

      ALFAholic - 2011-03-23 20:42

      Christo, are you an FNB employee?, Rapier, paying for fuel with your debit card directly is free fom any bank. If FNB was so brilliant why is it not as big as STD Bank or ABSA?

  • John - 2011-03-23 08:48

    Very innovative indeed. Do need for bank card in my wallet.

  • Margaret2 - 2011-03-23 08:48

    For security, there's nothing to beat drawing cash at the tills while at the supermarket. Much cheaper too. Why does one need 24 hour access with all the attendant risks when a minimal amount of planning takes care of the problem?

  • Makutu - 2011-03-23 11:29


  • James - 2011-03-23 16:01

    This doesn't solve the fact that you still have to go to an ATM. Surely, we can just type the pin code into the card machines at tills in shops! FNB get those developers wired-in and bring more! Other than that, this is pretty awesome.

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