Today First National Bank announced their changes to their business account that aims to bring the rewards that you enjoy on their personal accounts as a business client.
While eBucks for business has been around for a little while, now business cheque accounts will have the ability to earn Fuel Rewards, use all the electonic channels like online banking, cellphone banking and the banking app to do your business banking. Overdraft facility is done in real time and you only pay for it when you use it. There is the Instant Accounting and Payroll facility at no charge and Forex transactions can be done online. Best of all you can switch your account in 3 easy steps and for the 3 months following your switch you will get your bank fees credited to you so that is 3 months free when you switch.
At their launch today their are two fee options, a R52.50p/m Pay As You Use option and R169p/m value bundle.
Be prepared for some radio adverts of small business owners beeping out other banks, the business evolution of the famous “Steve”adverts.
What was interesting from todays press event is that Jacques Celliers – CEO of FNB Business Banking – stated that this move is still aimed at existing businesses and not start ups. Apparently there is still some innovation happening in the new business area that we should be seeing in the new year.