First National Bank (FNB) is changing the way South Africans bank by moving more banking services from branches to phones.
In the company’s financial year which ended 30 June 2026, it reportedly had 8.16 million digitally active customers. Its banking app processed 782 million transactions, a 10% increase from the year before. Payments made with virtual cards were worth R101 billion ($6.16 billion) while the number of PayShap payments grew more than eight times in one year.
These numbers show that FNB is not just putting banking on a phone. It is giving customers more ways to use their money and more reasons to use the bank’s services.
So, how does this change the way South Africans bank?
Bringing eWallet transactions to WhatsApp
The company has made its eWallet service available on WhatsApp, giving people another way to send and receive money without using a banking app.
FNB’s eWallet lets people send money to a South African cellphone number. Through WhatsApp, people can now open an eWallet without having a bank account or filling out paperwork. They can also apply for a cash advance of between R50 ($3.02) and R500 ($30.24).
Since its launch in March 2026, eWallet on WhatsApp has recorded more than 12 million interactions. FNB has also received more than 18,900 cash advance applications through the platform in the past six months.
These numbers only show that people are using the WhatsApp service; they do not tell us how many people have opened eWallet accounts through WhatsApp because one person can interact with the service several times.
However, the key change is how people access eWallet. They can start on WhatsApp, an app many already use to chat with friends and family, without first downloading FNB’s banking app or waiting for someone to send them money.
Helping customers understand their money
FNB has added more tools to help customers manage their money. Its “Nav Money” service helps people track their spending, set limits and create savings goals.
For example, a customer can check how much they spend on food or transport each month and then decide where to cut back and how much to save.
Nav Money is not new, though. The service marked its 10th anniversary in 2026. By July, FNB reported that more than six million people had used it, with customers creating savings goals worth more than R1.75 billion ($106.86 million).
FNB is also building tools for young people and businesses. It has introduced two new services around the Nav platform: Nav Youth and Nav Payroll.
Nav Youth gives young people tools to learn about money and manage their finances, while Nav Payroll helps small and medium-sized businesses manage staff payments through the app.
These new additions have taken the platform beyond tracking personal spending.
My Advisor brings financial advice into the App
In May 2026, FNB introduced “My Advisor”, a tool that helps customers understand their finances and make plans for the future.
The tool brings information about spending, savings, debt, insurance and retirement together. It also links to other FNB services, including “eBucks rewards” and “will-making tools”.
FNB designed it to help customers understand their financial position and decide what to do next.
In context, someone who wants to buy a house while paying off debt needs to know how much they earn, how much they owe and how much they can save. My Advisor helps bring these parts of their finances together.
The company says that the tool uses more than 30 approved data sources to help build a picture of a customer’s financial position. It also includes a “Financial Freedom Tracker” to help customers check their progress towards their goals.
The bank is also using AI to support its human advisers. Reports in 2026 described changes to “NAVi”, FNB’s virtual assistant platform that help advisers see customer information and identify possible next steps during conversations.
This means FNB is using technology in two ways: to help customers understand their money through the app and to help its staff give more informed advice.
FNB is moving beyond banking
The company is growing its business beyond banking. It also offers mobile services through “FNB Connect” and allows customers to earn eBucks on eligible mobile spending, depending on their reward level and the programme’s rules.
FNB Connect is bank’s mobile network business. It sells SIM cards, mobile data and call plans using existing networks operated by Cell C and MTN. In the financial year that ended on 30 June 2026, it had about 1.02 million active SIM cards. Customers used 52.1 million gigabytes of data, an increase of 85% from the previous year. This means customers used much more data through FNB Connect than they did the year before.
Some customers can also get money back when they buy certain devices.
But customers must meet the rules to get these rewards. Not everyone gets the same benefits because the amount they receive depends on their reward level and the services they use.
This gives customers a reason to use more of FNB’s services. Someone who banks with FNB and uses FNB Connect may get rewards for spending on their mobile service. Those rewards can then be used at businesses that accept eBucks.
Bank branches still have a place
FNB is moving more banking services to phones, but its branches still serve important needs that an app cannot meet on its own.
One reason is that some customers need help learning how to use digital banking. Branch staff can show them how to use the FNB app, make payments and keep their accounts safe. This helps customers who are not yet comfortable doing these things on their own.
Through a partnership with South Africa’s Department of Home Affairs (DHA), South African residents can apply for and collect Smart ID cards and passports at selected branches.
This brings people into the bank for services that have nothing to do with opening an account or sending money.
Some banking problems also need face-to-face help. A customer dealing with a fraud case, a blocked account or paperwork after a family member’s death may need to speak directly with bank staff. Businesses may also need personal help when dealing with complex loans or other financial matters.
Branches and ATMs also remain important for people who use cash. Small businesses may need to deposit the money they collect from customers, while people who receive eWallet transfers may need to withdraw cash.
In 2026, the company listed 785 branches and 5,808 ATMs and related machines in its South African network.
The problems FNB still needs to address
Moving banking to phones can save time, but customers still face problems with fees, fraud and access.
Fraud as a problem
Banking scams are costing South Africans billions of rand. The South African Banking Risk Information Centre (SABRIC) reported that losses from digital banking crime reached R2.4 billion ($149.00 million) in 2025, up from R1.9 billion ($103.26 million) in 2024. Banking app fraud made up more than 70% of reported digital banking losses.
Many scammers pretend to work for banks to steal customers’ money. FNB warns that some fraudsters call customers and claim that suspicious transactions have occurred on their accounts.
They offer to help stop the transactions but may ask customers to share sensitive banking details or install software that gives them access to their computers.
Scammers also use fake websites to steal login details and one-time PINs. As more people use FNB’s app and WhatsApp services, the bank must protect them from these scams. Customers also need to know how to spot fake messages and keep their banking details safe.
Banking fees problem
Digital banking does not mean everything is free. Some payments, cash withdrawals and mobile services still cost fee. Although, the cost depends on their account type and how often they use these services. While FNB offers eBucks rewards and other benefits to eligible customers, customers must weigh the benefits against the fees they pay to know whether they are getting good value for their money.
Not everyone has easy access
Not everyone has a good smartphone, reliable internet or the skills to use banking apps.
Some people run out of data, lose their phones or struggle to use the app. Others find it hard to spot fake messages and websites.
The challenge is to make banking easier without making it harder for people to keep their money safe, manage costs and get help when they need it.
How FNB compares with other banks
FNB faces competition from banks such as Capitec, TymeBank and Standard Bank even though each bank takes a different approach to serving customers.
Capitec and TymeBank focus on keeping banking costs low. TymeBank’s EveryDay account has no monthly account fee, while Capitec charges a monthly fee for its main account. Standard Bank also offers different account options at different prices. However, customers may pay extra fees for certain services, so the monthly fee alone does not show the full cost of banking.
FNB’s approach is that it seamlessly brings banking together with services such as mobile phone plans, insurance, travel, ID, and rewards. This gives customers more services to choose from without having to use different providers for everything. Capitec and Standard Bank also have rewards programmes.
However, more services do not always mean better value. Customers who use several FNB services benefit from having them under one bank. But, those who only need to receive their salaries, pay bills and send money may care more about low fees and simple transactions than anything else.
There is also the question of ease of use. FNB offers many features through its app, but having more options does not mean it is an app easier to use. Some customers may become overwhelmed by the many features.
In the end, FNB gives customers more services to choose from, but not everyone needs all of them. Customers who use many of FNB’s services and benefit from eBucks may find the bank worth staying with. Others may prefer TymeBank because it has no monthly account fee, or choose Capitec and Standard Bank for their own range of services. What matters most is finding a bank that meets your needs and gives you good value for your money.