News

FNB plots new ATM feature

Customers of the South African bank can rest in peace knowing that they've availed themselves of their provider's newest ATM offering.

April 5, 2016

FNB, a South African financial institution, has introduced a new value-added feature at its ATMs: funeral planning.

FNB Life, an offshoot of the FI, is offering funeral insurance plans at nearly 6,700 of the bank's ATMs and Slimline terminals in South Africa.

Plans vary in value from 10,000 to 60,000 rand ($676 to $4,057) and take just a few minutes to set up, according to a report by the South African publication TechCentral

In a statement, FNB Life CEO Lee Bromfield said that adding funeral insurance to the FI's ATMs simply made sense:

ATMs have become multipurpose devices and one of the most used channels in rural communities and townships. This development offers consumers in those and other areas, an opportunity to use this channel to get funeral plans from a provider they can trust, thus avoiding possible debt associated with paying for a funeral.

The article did not say whether cash payouts of funeral expenses would be available at FNB ATMs as well.