how long does money stay in ewallet fnb

How long does money stay in eWallet FNB?

Have you ever wondered how long your money stays in your eWallet FNB account? In this article, we will dive into the details and provide you with all the information you need to know about the duration of money in an eWallet FNB account. Whether you are a current user of eWallet FNB or considering using it in the future, this article will help clarify any lingering questions you may have.

Introduction to eWallet FNB

Before we discuss how long money stays in an eWallet FNB account, it is essential to understand what eWallet FNB is. eWallet FNB is a convenient digital wallet offered by First National Bank (FNB) in South Africa. It allows FNB customers to receive, send, and store money using their mobile devices. With eWallet FNB, users can perform various transactions, such as purchasing airtime, paying bills, and withdrawing cash.

The duration of money in an eWallet FNB account

Now, let’s address the burning question: how long does money stay in an eWallet FNB account? The duration of money in an eWallet FNB account is determined by the account’s inactivity. If there is no activity in the eWallet FNB account for a consecutive period of 30 days, the money in the account will be automatically transferred back to the sender’s bank account. This measure is in place to ensure the security of funds and prevent dormant accounts.

It is crucial to note that the process of transferring the money back to the sender’s bank account does not happen immediately on the 30th day of inactivity. It may take a few additional days for the funds to be returned, depending on various factors such as bank processing times and weekends/public holidays.

Keeping your money in eWallet FNB

To keep your money in your eWallet FNB account for an extended period without it being transferred back to your bank account, it is necessary to maintain regular activity. Any activity, such as receiving money, sending money, purchasing airtime, or paying bills through your eWallet FNB account, counts as activity that keeps your account active.

If you anticipate not using your eWallet FNB account for an extended period, it is advisable to transfer the funds back to your bank account to avoid any unforeseen transfers. By keeping your eWallet FNB account active, you can have peace of mind, knowing that your funds are readily available whenever you need them.

Additional eWallet FNB fees

While eWallet FNB allows for convenient and secure transactions, it is essential to be aware of any applicable fees. There may be specific charges associated with certain activities, such as withdrawing cash from an eWallet FNB account or transferring funds from your eWallet FNB account back to your bank account. It is advisable to familiarize yourself with the fee structure provided by FNB to avoid any surprises.

In summary

In conclusion, money stays in an eWallet FNB account for a maximum of 30 days of inactivity. After this period, the funds are automatically transferred back to the sender’s bank account. To avoid this transfer, it is crucial to keep your eWallet FNB account active by engaging in regular transactions. Be mindful of any associated fees and always take the necessary steps to stay informed about the terms and conditions of your eWallet FNB account.

With this knowledge, you can make the most out of your eWallet FNB account, benefiting from its convenience and secure features. Enjoy the flexibility and peace of mind that comes with using eWallet FNB for your everyday financial transactions.