MBABANE – As emaSwati consumers navigate a tightening economic landscape, the cost of retail banking remains a critical factor in household financial planning.
FNB Eswatini has introduced a raft of customer-focused pricing changes aimed at easing the financial burden on consumers, including making card swipes free for its entry-level SicaloZero account holders, while maintaining more than 100 banking services at no cost.
The revised pricing guide, which came into effect yesterday and runs until June 30, 2027, forms part of the bank’s broader strategy to improve financial inclusion and cushion customers against persistent economic pressures.
A key highlight of the new pricing structure is that customers using the FNB SicaloZero account, designed for individuals earning up to E10 000 per month, including informal traders, will no longer pay for point-of-sale (POS) purchases.
The account also continues to carry no monthly account maintenance fee, making it one of the bank’s most affordable transactional banking offerings.
According to the bank, the move is expected to encourage greater use of electronic payments while reducing the reliance on cash, particularly among lower-income earners.
FNB Eswatini Executive Head of Retail Dr Mncedzi Ngomane said the bank carefully considered the varying financial needs of its customers before finalising its new pricing for the 2026/27 financial year.
“We understand that our customers have differing needs and we took this into consideration as we deliberated on our pricing for the new financial year. We are, therefore, pleased that we have addressed critical needs across our different customer profiles, ensuring that, wherever they are in their life journey, our customers feel the helping hand of FNB Eswatini.
“This is why, on top of making swiping free for FNB SicaloZero account holders, we have kept monthly account fees for Private Wealth, Private Clients and bundled Platinum customers unchanged, while the increase for the Smart account is below inflation,” said Dr Ngomane.
He added that the bank had also enhanced its CashPlus offering by making the first eWallet withdrawal free, further reducing transaction costs for customers using the service through more than 800 active CashPlus agents across the country.
More than 100 free services
MBABANE – Beyond the headline changes, FNB Eswatini’s latest pricing guide reflects a broader strategy of lowering the cost of everyday banking through an extensive range of free services.
The bank revealed that 62 per cent of its pricing remains unchanged, while customers continue to enjoy more than 100 banking services free of charge.
Among the services that remain free are deposits made through CashPlus agents, internal debit orders, scheduled payments, activation and closure of accounts, branch cash deposits, ATM cash deposits, online and mobile banking balance enquiries, online statements and several digital banking services.
The bank’s customers also continue to enjoy free electronic payments between FNB accounts, free online banking statements, free account opening and closure, free branch cash deposits and complimentary internal debit orders.
For SicaloZero account holders specifically, the package includes no monthly account fee, free FNB ATM withdrawals of up to E3 000 per month, free online payments, free card swipes and no fees for prepaid electricity purchases.
The bank says these offerings are intended to lower banking costs for consumers while encouraging greater adoption of digital financial services.
Protecting customers from rising costs
MBABANE – The latest pricing changes build on a series of customer relief measures introduced by the bank over recent months.
In May, FNB Eswatini announced that it was doubling its Fuel Cash Back Rewards until August 2026, allowing qualifying customers to earn higher rewards on fuel purchases amid rising transport costs.
The initiative formed part of the bank’s broader efforts to help customers cope with increasing living expenses while promoting greater use of digital banking channels and card-based transactions.
The latest pricing adjustments continue that strategy by targeting the everyday banking costs most frequently incurred by customers.
Keeping monthly fees unchanged for premium banking clients, while limiting increases on entry-level products below the prevailing inflation rate also reflects an effort to balance affordability with continued investment in banking infrastructure and digital innovation.
The revised pricing guide further demonstrates the growing importance of digital banking within FNB Eswatini’s operating model.
Several services carried out through digital channels remain either free or significantly cheaper than traditional branch transactions, reinforcing the bank’s ongoing migration towards self-service banking.
Consumers increasingly have access to banking through the FNB App, online banking, cellphone banking, CashPlus agents and an expanding ATM network, providing greater convenience while lowering transaction costs.
Revised pricing aligns with bank’s ‘Help is for Everyone’
MBABANE – FNB Eswatini Chief Marketing Officer Sibusile Dlamini said the revised pricing aligns with the bank’s recently launched brand promise, ‘Help is for Everyone’.
She said the pricing review was designed to ensure that every customer segment, regardless of income level or geographic location, benefits from accessible and affordable banking.
“Our new pricing is underpinned by our new promise, ‘Help is for Everyone.’
“This is based on a simple premise: FNB Eswatini is there to serve every single liSwati, young and old, rural and urban-based, employed and unemployed, civil servant or privately employed.
“FNB’s Help is for all emaSwati. Our new pricing brings this promise to life in line with our efforts to expand financial inclusion,” said Dlamini.
The emphasis on financial inclusion comes at a time when financial institutions are increasingly leveraging digital platforms to expand banking access while reducing operating costs.
The bank noted that lower transaction costs encourage more people to enter the formal financial system, helping individuals build savings histories, access credit and participate more actively in the economy.
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