Competition comes to business banking

First Business Zero is a digital platform business bank which will be available from 1 November 2019. Its accounts have zero monthly banking fees and free card swipes, although there are pay-as-you-go fees on transfers and debit orders. The catch is that this is only available for sole proprietor businesses with an annual turnover up to R5 million. So, this is not for the more established, incorporated businesses.

By offering a low-cost business banking solution, FNB Business CEO Mike Vacy-Lyle says a small business can start to build up a track record with the bank when it comes to accessing credit. Vacy-Lyle says entrepreneurs struggle to access financing in their own names as they cannot provide payslips. FNB is using a credit score card specifically aimed at small businesses, which will allow automatic credit approval after six months of trading.

FNB has invested billions of rands in developing a business banking platform that offers holistic and integrated financial solutions to all types of businesses “FNB has invested billions of rands in developing a business banking platform that offers holistic and integrated financial solutions to all types of businesses.

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

BUSINESS MAVERICK: South Africa slips to an all-time low in the World Bank’s Ease of Doing Business ReportThere are a couple of reports on the ease of doing business and the investment potential of sub-Saharan countries doing the rounds, and South Africa is losing ground in all of them. The country is a notoriously tricky place to conduct trade — and reform has been lagging at best. The country still has a lot going for it, but it needs to better capitalise on this before it is too late. Yes coz BEE BBEE BBB EEEE BBBBBBBBBBEEEEEE
Herkunft: dailymaverick - 🏆 3. / 84 Weiterlesen »

Standard Bank says internet downtime not related to City of Joburg hack | IOL Business ReportStandard Bank says internet banking downtime not related to the hack on the City of Joburg. busrep
Herkunft: IOL - 🏆 46. / 51 Weiterlesen »

Humanising the digital space, African Bank opens new branch in Sandton | IOL Business ReportWhile some major South African banks are downsizing and planning on shutting down some of their branches, African Bank continues to expand and upgrade its branch network. busrep busrep I'm truly hoping African Bank has turned the corner. It's been to hell and back. It deserves some luck.
Herkunft: IOL - 🏆 46. / 51 Weiterlesen »