If you’re using FNB’s eWallet service, you’re likely curious about how long money can remain in the account before it expires or needs to be withdrawn. This article will give you a clear overview of the FNB eWallet timeline, including how long funds stay in your account, what happens when they expire, and some best practices for managing your eWallet balance.
What is FNB eWallet?
First things first, let’s quickly recap what FNB’s eWallet is all about. FNB (First National Bank) offers the eWallet as a convenient way to send and receive money without the need for a bank account. You can send money to anyone using a mobile number, and the recipient doesn’t even need to be an FNB customer. The money can then be withdrawn at an ATM or spent at participating stores.
So, now that you have a brief idea of what the service is, let’s jump into the big question: how long does money stay in the eWallet?
How Long Can Money Stay in an FNB eWallet?
Funds sent to an FNB eWallet typically stay available for up to 30 days. Once that period lapses, the money is no longer accessible in the eWallet. However, don’t worry just yet—if the recipient hasn’t claimed the money within this 30-day window, the funds don’t vanish into thin air.
Instead, the money is reversed to the sender. This way, the sender can either send it again or use it elsewhere.
Key Point:
Money stays in an FNB eWallet for a maximum of 30 days.
What Happens If the Money Isn’t Withdrawn in Time?
If the recipient doesn’t withdraw or use the funds within 30 days, the unclaimed amount automatically reverses to the sender. Typically, this happens on the 31st day, and the sender will be notified via SMS or email (depending on their communication settings with FNB).
The reversal ensures that the sender doesn’t lose their money just because the recipient didn’t cash it out in time. After reversal, the funds return to the sender’s original FNB account or available balance, whichever method was used to send the money in the first place.
Important Note:
The sender does not incur any extra charges when the money is reversed to them. However, sending the money again to the same person will involve the usual transaction fees.
Can You Extend the 30-Day Expiry?
Unfortunately, FNB doesn’t offer an option to extend the 30-day expiration period. Once the money is in the eWallet, the clock starts ticking. If the recipient doesn’t withdraw or use the funds by day 30, they’ll lose access, and the money will bounce back to the sender.
So, it’s always a good idea to remind your recipient to use the funds before the deadline, especially if they’re not in the habit of checking their phone or SMS notifications.
How to Check eWallet Balance and Expiry Dates
To keep track of how long money has been sitting in your eWallet, you can check the balance and transaction history directly via FNB’s app or USSD code.
Here’s how you can do it:
- Via FNB App:
Open the FNB app and navigate to your eWallet. You’ll be able to see your available balance, including the expiration date for any unclaimed funds. - Via USSD Code:
Dial 120277# from your mobile phone, then follow the prompts to view your eWallet balance and any remaining expiry time. - Via FNB ATM:
You can also use an FNB ATM to check your eWallet balance and see how much time you’ve got left before funds expire.
Pro Tip:
Keep an eye on your notifications from FNB, as they’ll typically alert you when your eWallet funds are about to expire.
What Happens If the Money is Reversed?
When money is reversed back to the sender, it’s credited to the account from which it was originally sent. You can easily send the money again if needed, but you’ll have to pay the regular eWallet service fee.
How to Resend the Money:
- Open your FNB app or use online banking.
- Select “Send Money” from the menu.
- Enter the recipient’s mobile number again.
- Confirm the transaction and pay the service fee.
It’s pretty straightforward. Just make sure the recipient is ready to withdraw the funds this time around!
Frequently Asked Questions (FAQs)
1. Can I keep money in my eWallet indefinitely?
No, funds in the eWallet expire after 30 days if they aren’t withdrawn or used.
2. What happens to expired eWallet money?
The money is automatically reversed to the sender after the 30-day period.
3. Can I transfer eWallet funds to my FNB account?
Yes, you can withdraw eWallet money into your FNB account or transfer it to someone else using FNB’s transfer options.
4. Does it cost money to send or withdraw from an eWallet?
Yes, FNB charges a service fee for sending money via eWallet. Withdrawal fees may also apply at ATMs, depending on the transaction.
5. How do I remind someone to withdraw their eWallet funds?
You can either send them a personal message or use FNB’s “Send Reminder” feature in the app to prompt them.
Best Practices for Managing Your FNB eWallet
- Set reminders: If you’re sending money to someone, make sure they know there’s a 30-day window to withdraw the funds. A quick reminder can save everyone the hassle of having to resend the money.
- Check regularly: If you’re the recipient, check your eWallet balance regularly to avoid losing access to the funds. You don’t want to miss out on money just because the expiry date slipped your mind.
- Use the FNB app: The app is the easiest way to manage your eWallet funds, check your balance, and even send reminders to your recipients.
Wrapping It Up
In a nutshell, money stays in your FNB eWallet for 30 days before it’s automatically reversed to the sender. The process is simple and user-friendly, but it’s important to keep track of your eWallet balance and expiry timelines to avoid any surprises. Whether you’re the sender or the recipient, FNB’s system gives you ample opportunity to manage your funds efficiently.
Got any more questions about FNB eWallets? Drop them in the comments, and I’ll be happy to answer!
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