FNB (First National Bank) adjusts its banking fees periodically, with the latest pricing guide effective for the current financial year. Monthly account fees have increased by an average of 4%, generally in line with inflation. Below is a detailed breakdown of the updated fee structures across FNB’s most popular retail accounts, including transactional costs for Aspire, Premier, Private Clients, and the youth-focused FNBy.
FNB Account Fees (Current Rates)
Overview of FNB Account Fees
This table summarises the key monthly fees and rewards for FNB’s main personal banking accounts.
| Account Type | Monthly Fee | Target Market | Key Benefits |
|---|---|---|---|
| Easy Zero | R0 | Entry-level / Students | Unlimited card swipes; no monthly fee |
| Easy PAYU | R7.50 | Digital-first users | Pay-as-you-use; lower digital transaction costs |
| Aspire / Fusion Aspire | R120 | Mid-market / Salaried | R2,000 free withdrawals; R2,000 free deposits; eBucks rewards |
| Premier / Fusion Premier | R240 – R260 | High earners | Higher limits; bundled family benefits |
| Private Clients | R455 | Wealthy individuals | R8,000 free withdrawals; dedicated service suite |
| Private Wealth | R595 | High net worth | Premium concierge services; enhanced rewards |
| FNBy (Under 18) | R0 | Children | Parental controls; low-cost transactions |
| FNBy Next (18–24) | R7.50 | Young adults (18–24) | R1,500 free withdrawals; zero fees if linked to family |
Note: Prices for Premier and Private Wealth accounts reflect recent adjustments and have generally remained stable for the current cycle, though annual reviews may apply.
Detailed Breakdown by Account Type
1. Aspire / Fusion Aspire
The Aspire account is FNB’s core product for salaried individuals. It increased by R5 per month to R120.
– Cash Withdrawals (FNB ATM): First R2,000 per month free; thereafter R2.70 per R100.
– Cash Deposits (FNB ATM): First R2,000 per month free; thereafter R1.70 per R100.
– Electronic Transfers: FNB App transfers (FNB to FNB) are free.
– eWallet: One free send per month via the App.
– Value-Add: eBucks cashback at partners like Pick n Pay and Engen.
2. Premier Account
The Premier account targets higher-income earners, offering higher thresholds than Aspire.
– Monthly Fee: Approximately R240 to R260.
– Thresholds: Typically includes higher limits on free cash withdrawals and deposits (often linked to maintaining a minimum balance or specific salary deposits).
– Family Banking: Includes discounted fees for linked family accounts.
3. Private Clients & Private Wealth
These premium offerings provide a “VIP banking” experience, higher service limits, and dedicated support.
– Monthly Fee (Private Clients): R455.
– Monthly Fee (Private Wealth): R595.
– Free Cash Withdrawals: Up to R8,000 per month at FNB ATMs and Cash@Tills.
– Free Deposits: Up to R8,000 per month at FNB ATMs.
– Free Digital Payments: R10,000 free limit per month on instant payments (Payshap, Pay & Clear Now, EFTs to other banks).
– eBucks: Up to 15% back on FNB Connect purchases.
4. FNBy (Youth & Student Accounts)
Designed for younger users, these accounts help build a banking profile at a low cost.
– FNBy (Under 18): R0 monthly fee. Includes parental controls linked to the parent’s FNB profile.
– FNBy Next (Ages 18–24): R7.50 monthly fee. This fee drops to R0 if the user is linked to a family member’s “My Family” banking suite.
– Cash Withdrawals: First R1,500 free at FNB ATMs per month; thereafter standard fees apply.
– Cash@Till: Flat R2 fee regardless of the amount withdrawn.
Comparison of Transaction Fees
Here is how these accounts compare on common transaction costs.
Here’s a structured comparison of the FNB account types you listed, showing fees, withdrawal limits, and payment features side by side for clarity:
| Transaction Type | Aspire Account | Premier Account | Private Clients | FNBy Next (18–24) |
|---|---|---|---|---|
| Monthly Fee | R120 | ~R240 | R455 | R7.50 (R0 on Family Plan) |
| FNB ATM Withdrawal | R2,000 free/mo | Higher limits | R8,000 free/mo | R1,500 free/mo |
| Cash@Till (Retail) | Part of free limit | Part of free limit | Included in R8k limit | Flat R2 fee |
| FNB App Payment (FNB to FNB) | Free | Free | Free | Free |
| Instant Payment (Pay & Clear) | R2,500 free limit/mo | Variable | R10,000 free limit/mo | Standard rate |
How to Get Fees Waived or Reduce Costs
FNB provides several mechanisms to lower or eliminate your banking costs.
“My Family” Structure: If you are a Premier or Private Clients account holder, you can add your children or spouse to your profile. This typically waives their monthly fees entirely or gives them a 50% discount.
Pay-As-You-Use (PAYU): For the Easy PAYU account, there is no fixed monthly fee if you perform zero transactions. You only pay for what you use.
Minimum Balance (Legacy): Note that the previous rule where holding R100,000 in a Fusion account automatically waived the monthly fee no longer applies for most new accounts as of last year.
eBucks Cashback: Using your card at partners like Engen (fuel) or Pick n Pay can earn you substantial eBucks, which can be used to offset future spending, effectively giving you cash back on your bank fees.
Key Changes for the Current Year
– Aspire Account Increase: Increased from R115 to R120 per month.
– Real-Time Payments Reduced: FNB lowered the cost of real-time payments for Easy PAYU customers from R8 to R3.50.
– Interest-Free Period: The Fusion Aspire still offers up to 30 days interest-free on credit card purchases within the account.
Frequently Asked Questions
1. Is there a totally free bank account at FNB?
Yes. The FNB Easy Zero account has a R0 monthly fee. It is designed for individuals who primarily use card swipes and digital banking.
2. What is the difference between Aspire and Premier?
Aspire is the standard “salaried” account with moderate limits (e.g., R2,000 free withdrawal). Premier is for high earners, offering higher limits and better interest rates for a monthly fee of about R240.
3. How much is the FNB monthly fee for students?
Students generally fall under the FNBy Next category (18–24) at R7.50 per month, which is often waived if the account is linked to a parent’s profile. The Easy Zero account is also free for any individual looking for no monthly costs.
4. Does FNB charge for cash deposits?
Yes, unless you are within your free limit. For Aspire, the first R2,000 deposited per month is free, then R1.70 per R100 thereafter.
5. Are there fees for international transfers?
Yes. International transactions in the Private Clients guide indicate a currency conversion fee, typically around 2.5% of the transaction value.
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Summary
These are the FNB account fees as presently available. However, please take note of the following important notifications:
The information in this article are accurate as at the time of publishing. The bank may change fees and rates without prior notice.
This information is not an exhaustive presentation of the accounts offered by FNB, nor does it show all the fees liable to each account. For the complete information, please contact the bank.
This information is not produced for entertainment purposes only; it is not financial information. Neither the writer, nor the owner of this website are liable for any loses that may occur as a result of the use or misuse of this information.