First National Bank (FNB) launched its cardless cash withdrawal feature today, available on the latest version of the FNB banking app. The feature allows users to withdraw money at an ATM without using their bank cards.
This comes after FNB said last month that R2 billion cash had been withdrawn at ATMs using the cardless cash withdrawal system on cellphone banking.
Giuseppe Virgillito, head of banking app at FNB Digital Banking, says the rollout to the app was the logical next step.
"Our latest results show a 67% increase in app transaction volumes. This comes as a result of increased usage across the spectrum of app features as well as more customers that are migrating to the app for their digital banking needs."
Other features added to the app include lost or stolen card cancellation, opening of new accounts and ordering of new cards.
The cardless cash withdrawal feature means that even those who have cancelled their cheque card because it was lost or stolen, will still be able to access their money. However, this does not apply to cancelled credit cards as the cancellation results in the closure of the account until a new card is issued.
The latest version of the FNB banking app is available from Apple, Android, Windows, and BlackBerry app stores.
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