Travelling abroad often comes with an unexpected challenge: understanding exactly how much money you’re withdrawing.
Exchange rates, foreign transaction fees, and unfamiliar currencies can make even a simple ATM withdrawal tricky to figure out, leaving travelers unsure of the final cost until it shows up on their bank statement.
FNB is making things simpler by partnering with global fintech company Fexco to introduce its Dynamic Currency Conversion (DCC) service at ATMs.
Customers will now be able to view ATM withdrawal amounts in their home currency before completing a transaction, providing greater transparency and choice when accessing cash while travelling.
Making International Banking Easier
South Africa is still one of Africa’s top spots for tourism and business, attracting millions of international visitors every year. Even as digital payments become more popular, having access to cash is still important for many travelers.
With the introduction of DCC at its ATMs, FNB is offering international cardholders clearer insight into the value of their withdrawals before confirming the transaction.
This move expands on a service already offered to international visitors paying at merchants with FNB’s Speedpoint devices, showcasing the bank’s broader commitment to boosting convenience and transparency across its self-service banking network.
Banking Is Becoming More Customer-Centric
Consumers increasingly expect banking services to be simple, transparent and personalized.
Rather than introducing entirely new products, many financial institutions are improving existing services to reduce friction in everyday transactions.
John Mlangeni, CEO of Merchant Services at FNB, says international visitors increasingly want both convenience and clarity when accessing their money. “International visitors want convenient access to cash and greater certainty when managing their money while travelling. This enhancement helps customers better understand the value of a transaction before making a decision, while benefiting from the scale and accessibility of FNB’s network.”
He adds that simplifying banking remains central to the bank’s strategy: “At FNB, we continuously look for opportunities to remove friction from everyday banking experiences. Whether customers are making purchases, withdrawing cash or managing their finances while travelling, our focus is on providing simple, transparent and accessible solutions that make it easier for customers to manage their money.”
One of the main benefits of the roll-out is consistency. Customers who are used to Dynamic Currency Conversion when making card purchases can now enjoy the same experience when withdrawing cash.
According to Mlangeni, expanding the service across multiple banking channels helps create a smoother customer journey. By bringing a service already available through everyday purchases to our ATM network, we’re offering customers a more consistent experience across different payment and banking options.
A Longstanding Fintech Partnership
The roll-out also highlights the continued collaboration between FNB and Fexco.
Sean Crowe, CEO of Fexco Financial Services, says the expansion strengthens the existing relationship between the two organizations while improving the experience for international travellers visiting South Africa. ” We are pleased to extend our longstanding relationship with FNB through this roll-out. By bringing this capability to FNB’s ATM network, we are helping to create a more consistent experience for international cardholders travelling throughout South Africa.”
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