In an unprecedented twist, Mzansi’s oldest bank First National Bank (FNB) has proved to be a compassionate financial institution that will stand the test of time in their customer’s memories and be counted as the best even to the potential clientele.
This time around, they have officially announced that its customers can draw up their own Wills via the FNB Online Banking platform at no cost.
Furthermore in addition to this unparalleled gesture, the custody of this important original manuscript will be kept for customers at no extra cost in their record keeping department.
This latest innovation in estate planning was revealed at a media briefing held at Merchant Place in Sandton.
Findings of a snap survey conducted by this publication shows that other financial institution charges a substantial fee for both tasks for its customers and only does it on complimentary for its workforce.
Back to the story. A Will is a legal document wherein you stipulate how your assets are to be dealt with when you pass away.
According to FNB, the importance of a Will cannot be underestimated as it forms an integral part of holistic financial planning process.
It was further revealed that, to date, the bank has seen a significant increase in the number of clients who drafted their own Wills online, with over 52 000 clients already accessing this functionality.
The financial group also estimated that, Approximately 80% of South Africans don’t have a valid Will in place, adding that
even more concerning is that many people believe that it’s a need only when they get older or later in life.
Sizwe Nxedlana, CEO FNB Wealth and Investments told this publication that this groundbreaking announcement was made to coincide with the Wills week.
He also raised alarm about people who die Interstate because of failing to plan properly their estate on time.
“A Will is a vital part of your legacy planning and helps ensure that your loved ones are secure in the event of your passing. Contextual, innovative market-leading digital platforms like the FNB Wills online platform are core to our strategy and principles. The platform has empowered our customers to manage their estate together with their banking simply, innovatively and efficiently.”
Nxedlana also stressed that, designing customer-centric solutions for their customers has always been a focus for the bank.
“The FNB Online Wills solution simply guides customers through a step-by-step process for drafting and downloading their Wills,” he said.
Nxedlana also warned that perceptions of Wills need to change as it forms part of family’s financial wellness.
“This new innovation allows us to democratise Wills thereby ensuring that it’s available and accessible to all.”
Johan Strydom, Growth Head, FNB Wealth and Investments, told this reporter this innovation was tailor-made to help people manage their affairs to the best of their ability.
“Whilst the digital process is simple and easy to use, the solution also helps with a dedicated client support centre should clients need further assistance or advice regarding the drafting of their Wills. The solution aims to simplify the process and allows customers to easily draft a Will online anytime and at any place, at no cost.
“People own a great deal of physical and financial assets. This online solution offers FNB clients the opportunity to take an important step in ensuring that their assets are well secured for their loved ones,” Strydom argued.
DID YOU KNOW?
Should you need more help on drafting your will you can call 0877363555.
pics sourced from rainmansopranoblogspot.com and franchisesummit.co.za