Consumers making fewer cash withdrawals from ATMs - FNB

A report by First National Bank (FNB) shows that people are making fewer cash withdrawals from ATMs than they used to.

CEO of FNB Value Banking Solutions, Ryan Prozesky, says this is the first time they are seeing a healthy shift towards electronic mechanisms.

It is positive for the consumer because it translates into bank fees savings for the customers. Card based transactions are far more cheaper than cash based transactions.

Ryan Prozesky, CEO of FNB Value Banking Solutions

Prozesky says the survey shows a difference between rural and urban electronic payments. He says cash use is still more predominant in rural areas than urban but there's a bit of a shift in behaviour.

To hear more of this interview, listen below:


Recommended

by NEWSROOM AI
Read More
'Jacob Zuma’s actions are keeping the cost of debt higher than it needs to be'

'Jacob Zuma’s actions are keeping the cost of debt higher than it needs to be'

The Money Show's Bruce Whitfield interviews FNB Economist Mamello Matikinca about why the Sarb decided not to cut interest rates.

Budget speech lacked polices promoting economic growth - FNB economist

Budget speech lacked polices promoting economic growth - FNB economist

‎Economist at FNB South Africa, Mamello Matikinca, says it's clearly very difficult for government to narrow the fiscal deficit.

The rand is back!  South African currency hits 18-month high against the dollar

The rand is back! South African currency hits 18-month high against the dollar

The South African currency appears to have benefitted from better than expected inflation figures.

Gordhan and Gupta legal battle set to dominate in weeks to come

Gordhan and Gupta legal battle set to dominate in weeks to come

Finance Minister, Pravin Gordhan, has accused the Gupta-owned Oakbay of spinning conspiracy theories.

Interest rates remain unchanged, for now, while the rand remains stable

Interest rates remain unchanged, for now, while the rand remains stable

The Money Show’s Bruce Whitfield interviews FNB Economist Mamello Matikinca.

Victims of FNB safety deposit box heists hire private investigators

Victims of FNB safety deposit box heists hire private investigators

The Money Show’s Bruce Whitfield speaks to a woman whose father lost Krugerrands worth almost R1 million.

House prices slump in some parts of the country

House prices slump in some parts of the country

Property economist at FNB, John Loos, says the drop in house prices is due to slow pace in economic growth.

Popular articles
Ramaphosa unveils statue of Madiba at UN headquarters

Ramaphosa unveils statue of Madiba at UN headquarters

The 1.9 metre statue is said to be a gift from South Africa to the international community.

[LISTEN]  Heritage Council calls for heritage levy to protect SA’s assets

[LISTEN] Heritage Council calls for heritage levy to protect SA’s assets

Azania speaks to CEO of the national Heritage Council Adv Sonwabile Mancotywa on the importance of a levy.

KZN Metrorail services suspended due to vandalism

KZN Metrorail services suspended due to vandalism

Metrorail KZN Regional Spokesperson Zama Nomnganga says a build up of events led to the decision.

WC DA leader refuses to hand over electronic devices as party probes media leak

WC DA leader refuses to hand over electronic devices as party probes media leak

Western Cape DA leader Bonginkosi Madikizela confirmed that he was asked to hand over his devices but he says that he refused.

[LISTEN] 'Molewa was an activist in her own quiet way'

[LISTEN] 'Molewa was an activist in her own quiet way'

Environmental Affairs spokesperson Albi Modise pays tribute to Minister Edna Molewa who passed away on Saturday morning.

Ramaphosa's new advisory team has 6 months to draw up national land reform plan

Ramaphosa's new advisory team has 6 months to draw up national land reform plan

Land researcher Prof. Ruth Hall says the panel faces an exciting challenge to see how government can fix the land reform process.

[LISTEN] Opinion: 'Thuma Mina dares not fail'

[LISTEN] Opinion: 'Thuma Mina dares not fail'

Breakfast Show host Bongani Bingwa says skeptics are right to question whether Ramaphosa will succeed in his mandate as president.