FNB introduces virtual cards on global accounts

If you are an FNB and RMB Private Bank customer you can now create virtual cards for your global accounts, making any international payments safer and more convenient. Global accounts offer a means to save and transact in foreign currency, whether you are saving for offshore travel, need quick access to manage currency risk, or are receiving and making international payments. The ability to create a virtual card on a global account allows you to make convenient payments in popular currencies such as the United States dollar (USD), British pound sterling (GBP), and euro (EUR).

Yashen Singh, CEO of FNB Private Core Banking, added, “Global accounts have grown in popularity among our customers, and we will continue to innovate to meet their demands by making it easier to save and transact. It helps you to maintain account balances in multiple currencies, and you always know how much foreign currency you have on hand. This also ensures that fluctuating exchange rates will not have a negative effect on your account balances.

“Users of the FNB and RMB Private Bank global accounts can earn up to 4% back in eBucks and gain access to benefits such as global emergency assistance, a global ATM network, airport lounge access, extended warranty, flight reservations, hotel reservations, restaurant reservations, car rental reservations, event ticket purchases, and trip planning, to name a few,” adds Singh.

Senzo Nsibande, CEO of FNB Credit Card, says creating a virtual card on global account is valuable for customers who frequently travel abroad as they do not need to withdraw foreign currency for expenses, and they will not require their physical cards for payments. Virtual cards linked to global accounts are also useful for expenses that are charged in foreign currency, even if you’re based in South Africa. For a seamless payment experience and even better rewards, customers can add their global virtual card to FNB Tap to Pay or a partner wallet, including Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay, and SwatchPAY!”

FNB and RMB Private Bank customers have created more than 4 million virtual cards with over R15 billion in spending since it was launched in 2021. One of the key benefits of the FNB and RMB Private Bank virtual cards is their security features. Its 3-digit CVV number changes hourly, reducing the risk of fraud and ensuring that the cardholder’s details are kept secure. This feature is especially important for online transactions, where fraud is a common concern.