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FNB’s Aspire the go-to account for middle-income consumers

The bank scoops top position for the cheapest account with the most value-based benefits in SA

With FNB's Aspire account you can get two complimentary Slow Lounge visits when you book using eBucks Travel. PICTURE: 123RF/MILKOS
With FNB's Aspire account you can get two complimentary Slow Lounge visits when you book using eBucks Travel. PICTURE: 123RF/MILKOS
Image: 123RF/Milkos

The FNB Aspire account, which rebranded from FNB Gold last year, has come out tops as the cheapest preferred banking account for middle-income earners, offering the best value for money.  

This is according to Solidarity Research Institute’s recently released 2022 Bank Charges Report, which found that FNB Aspire account ticked all the boxes when looking at accounts for middle-income banking needs.

FNB Aspire is a bundled account with a fixed amount of R99 a month, which includes a series of free transactions. Gwerengwe says customers derive even more value from their combined eBucks earn and FNB Connect rewards.

The product is aimed at the R180,000 to R450,000 income bracket.

“FNB Aspire is designed with the money management needs of middle-income customers in mind, and it’s based on value. In an environment where consumers are working to save costs wherever possible, there has never been a better time to re-evaluate the bank you use,” says Rob Gwerengwe, CEO of the middle market segment of FNB.

“Choosing a bank for your transactional account is not just about the monthly fee you pay. You need to consider the value-adds you get from that banking relationship as well as the hidden charges that other banks tend to hide in the fine print.”

Customers get unlimited debit orders, free Cash@Till, free prepaid purchases on the FNB app as well as free cash withdrawals and deposits of up to R3,000. 

FNB Aspire customers also enjoy the benefit of several zero-rated transactions, including third-party payments, InContact SMSs and the secure banking chat available 24/7. 

“These may seem like minute charges that are not worth a mention, but the costs really do start adding up over the course of the month,” says Gwerengwe. 

For example, the 40c transaction notification fee offered by competitor banks seems reasonable at first glance, but for a customer with eight debit orders — eight withdrawals, and 14 card swipes — it can quickly add up to an extra charge of R12 a month. 

Additional value-added benefits for FNB Aspire customers: 

  • Two complimentary Slow Lounge visits when you book with eBucks Travel.
  • 500MB data, 30 voice minutes and 30 SMSs every month on your FNB Connect with an extra 500MB data if you top up your FNB Connect SIM with R100 or more during the month.
  • Spend and save with FNB and eBucks, meet the qualifying requirements, and you could get rewarded with a R1,500 voucher towards a new pair of shoes every year. Terms, conditions and earn rules apply.

“FNB prides itself in putting customers at the centre of financial solutions and the changes implemented demonstrate the commitment to value-based banking, especially during these tough economic times. More importantly, when you bank with FNB, what you see is what you get. There are no hidden charges,” says Gwerengwe. 

This article was paid for by FNB.

Note: A previous version of this article stated that you could qualify for a R1,500 voucher towards a pair of sneakers by maintaining a FNB Life/Funeral Cover policy for 12 months. This is no longer the case.