FNBB introduces FCA debit card
For years, First National Bank Botswana has been operating a Foreign Currency Account ( FCA) which is linked to major currencies. Until last month, customers who have this account were only able to physically walk into banking halls for transacting in this account or make online transfers to beneficiaries.
However, as time went on, it became evident that, like most accounts within the Bank, a banking Card was needed for convenience. After months of evaluating customers’ feedback on the account, FNB Botswana took a bold decision and introduced the first of its kind VISA FCA Debit Card, which is also user- friendly to travelling and abroad customers.
Head of Premium Clients at the listed Bank, Michelle France- Mabiletsa explained that the FCA Debit Card forms part of the clients Card package. “This Card caters for transactions on the foreign currency account which previously, clients could only access by visiting the branch or via online transfers to beneficiaries. It gives the client the independence to transact whilst out of the country at International ATMs, International POS and E- Commerce in the currency of their choice,” said Michelle, a career banker, who has worked for major listed banks during her career spanning 20 years.
Speaking to Botswana Guardian on Tuesday evening, Michelle said, this account is exclusive to customers of the bank, who are existing Foreign
Currency Account holders. As things stand, premier and private clients have the requisite requirements of owning the prestigious cards as part of their benefits. The Card which has been developed behind the scenes for months now, was introduced towards the end of May 2021. More promotional activities
for the Card are planned for the coming weeks and months. An excited Michelle told this publication that customers are over the moon.
“The market is excited,” said Michelle, adding that the Card was a concept that was developed from the clients’ feedback. She explained that, more uptake is being noticed from customers who are international travellers, have families or children studying abroad, expatriates, among others.
“Some of our clients who love travelling can’t wait to use the card when COVID - 19 travel bans are eased,” said Michelle, who also holds an MSc on Strategic Management from the University of Derby.
Already some of the FNBB clients who have travelled to neighbouring countries, mostly South Africa, have nothing but praises for the Card. Currently the FCA Debit Card is linked to four major currencies being, the US Dollar, Rand, Great Britain Pound and Euro. However, Michelle explained that, if in future they decide to add any other currency account, they will consider a Card for it. The other important feature of the Foreign Currency Account is that, it allows account holders to be able to buy foreign currencies when they are reasonably priced and use them at a later stage when the need arises. In this way, this account acts as a form of investment in foreign currencies. Those who have access to digital banking and online platforms are also at liberty to access their accounts. “The client should be able to view their FCA accounts through the various digital platforms and also view their cards transactions on same,” responded Michelle. She further told Botswana Guardian that, as an innovative bank, they will be open to add more features to the FCA Debit Card in future, depending on demands and needs of customers. “We are here to provide tailor made services and products for clients. We value their feedback,” she said, as a matter of fact. Michelle has urged customers to contact the Bank’s contact centre , Premium Service Suites or inquire from Relationship Managers to learn first- hand on the importance of the Card.