FNB enters the telecoms game.

[Dave A]

First National Bank has come out with a telecommunications deal for its customers.

MTN muscled in on the banking space several years ago, but today FNB has moved into the tele-communications space and is hoping that its offering will be more successful than MTN's attempts at banking.

FNB is not the first bank to offer customers telecom services, but FNB chief executive Michael Jordaan believes FNB Connect will be more successful than Absa's free internet service, which it ultimately had to sell to Vox telecoms to salvage. Jordaan says the model has been priced to provide savings while ensuring long-term sustainability. Although only offered as a value-added service for customers, Jordaan did not rule out rolling the product out to a broader client base.

In essence, by downloading FNB Connect software, you can make calls from your computer, cellphone and landline at reduced fees. But the cherry on top is the ability to make free phone calls, even overseas.
full story from M&G here

[garthu]

Sounds like skype??

[insulin]

This will work!

See Skype had the main downfall that you had to have a credit card to keep it going when you phoned to mobile or landlines. If all I need is a savings account and is thus able to pay for the service without a credit card! "First National Bank got the recipe to make Gold"

People will go for this…

[Dave A]

A bit more than Skype given the cellphone deal thrown in, probably over the MTN backbone given the higher rate for calls from Vodacom and Cell C.

It looks like a combination deal over a couple of platforms.

[SilverNodashi]

Although this is a great product, it's over rated and too expensive. Many other VOIP providers (who't primary business is VOIP) are cheaper than the bank!

[twinscythe12332]

Although this is a great product, it's over rated and too expensive. Many other VOIP providers (who't primary business is VOIP) are cheaper than the bank!

sure, but with everything else banks claim, you pay "for convenience"

[garthu]

you pay "for convenience"

Oh boy, and do you pay.

[insulin]

Think about this. With most voice over IP systems on the market nearly all of them use your credit card right. So if I can pay my bank “Yes it will be more expensive” But I can do this without a credit card that is open to a lot of abuse if you are not careful and also not everyone qualify for credit cards so, IF and only IF they make this available to the low end user will they make good money because like pay as you go... it is sometimes the only way to operate but it might not be cost-effective it is still available to most! So think about it... Yes you pay more but again how many mobile users are on pay as you go?

[QUINN]

Vox anyone?

Are any forumites using vox ?
I am looking into their 087 voip option

[twinscythe12332]

Think about this. With most voice over IP systems on the market nearly all of them use your credit card right. So if I can pay my bank “Yes it will be more expensive” But I can do this without a credit card that is open to a lot of abuse if you are not careful and also not everyone qualify for credit cards so, IF and only IF they make this available to the low end user will they make good money because like pay as you go... it is sometimes the only way to operate but it might not be cost-effective it is still available to most! So think about it... Yes you pay more but again how many mobile users are on pay as you go?

ah, but here lies a problem. the low income groups are going to be getting internet from where? I can see plenty of complaints about slow and crappy voice through 56 k modems in the future if it is offered to all customers with an "internet connection."

[insulin]

@twinscythe12332

You are going to hate me for this but you are wrong. Most use GPRS. See to get a Telkom account or any other dialup is useless when you live in a township, farm or if you are driving all over South Africa. No the most use GPRS and some phones can handle voice over IP with no problem. Also most phones can give you a good internet speed. Fact is GPRS is faster than most normal dialups but also more expensive. I honestly think data caps are the biggest problem here.

@QUINN
Sorry can’t help you with that one...

[twinscythe12332]

hahaha, nope, actually you made me kinda slap my forehead and go "DOH!" but at the same time, the call charge AND data charge are looking mightily cruddy together =/