Easy Zero Guide

Consumer Core Banking

January 2020

Product Guidelines for FNB’s Easy Zero account

An Easy Zero is a service offering which, will enable recipients of funds via the eWallet service as well as new to bank customers,
to register for a basic transactional account and utilize the services offered by this offering.

1. Qualifying criteria

Customers must meet the following criteria to qualify for registration for the product:
1. Name
2. Surname
3. 13-digit South African identity number

Registration is enabled on USSD link at this phase of the product launch and to register the customer will require the
above-mentioned prerequisites.

2. Features and benefits

To register for the Easy Zero product the customer does not necessarily have to be an FNB customer with an FNB bank account.
However, the customer can have an existing FNB bank account provided it is not another Easy Zero account.

An Easy Zero product has the following features:

1. Receive money:
• from another bank,
• by asking someone to send money to the Easy Zero,
• by depositing money at any deposit taking FNB ATM.

2. Pay:
• into any account,
• accounts e.g., electricity, DStv & clothing.
3. Buy:
• airtime, data bundles & electricity,
• goods at selected SPAR stores.

4. Send money to anyone with a valid South African cellphone number

5. Swipe
An Easy Zero card is available for this account and can be obtained from your nearest FNB branch. Once the account is opened
and online fingerprint verification has been performed, a card will be issued.

6. Limits
The product is subject to the following limits:
• You will not be allowed to withdraw, transfer or make payments exceeding R3 000.00 per day.
• All withdrawals, transfers and payments cannot exceed R14 000.00 per month.
• The balance on your Easy Zero cannot exceed R14 000.00 at any given time.

7. Reversals
• Manual or automated reversals will only be processed if funds are sent from an Easy Zero to an eWallet.
• Manual or automated reversals will only be possible if the recipient of the funds has not already accessed the funds in full.
• It is not possible to reverse an amount sent to an Easy Zero account, to request a reversal this process will follow the
existing reversal process.

3. Glossary

eWallet service Is a service that enables an FNB customer to create and fund an electronic store of
value from an FNB account, which is accessible to a nominated beneficiary who has
a valid South African cellphone number via FNB ATMs, FNB Cellphone Banking,
FNB App or FNB Online Banking.

FNB ATM FNB automated teller machine

FNB channel Includes FNB ATMs, Online Banking, Cellphone Banking, FNB App and retail stores,
where the eWallet can be accessed.

Sender Refers to the FNB customer who sends funds to an eWallet

You Refers to the beneficiary nominated by the sender, who is entitled to access the funds
using the eWallet service - also known as “the recipient”.

eWallet Refers to an electronic store of value created and funded by the sender, and which is
accessed via FNB channels.

eWallet user Includes both the sender and the recipient