The pace of the banking price war is picking up with First National Bank the latest player to enter the fray.

FNB, which is owned by SA’s biggest banking group by market capitalisation, FirstRand (R359bn), has cut the monthly fee on its entry-level pay-as-you-use account to 5c below the R5 charged by Capitec.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now