Forex from First National Bank makes the process of sending money abroad simple, secure and convenient so you can transact and manage your global payments online.
As one of the leading banking institutions in South Africa, FNB has made it easier for its customers to access and trade forex through its mobile app. The app provides a convenient way for FNB customers to buy forex, which is essential for those who frequently travel abroad or do business with international partners. In this article, we will provide an in-depth guide on how to buy forex on the FNB app.
Step 1: Download and Install the FNB App
The first step to buying forex on the FNB app is to download and install the app. The app is available for both Android and iOS devices, and you can download it from the Play Store or the App Store, respectively. Once you have downloaded and installed the app, you will need to log in using your FNB online banking details.
Step 2: Link Your Forex Account
After logging in to the FNB app, the next step is to link your forex account. If you don’t have a forex account with FNB, you will need to open one before proceeding. To link your forex account, go to the “Forex” tab on the app and select “Link Accounts.” You will then be prompted to enter your forex account number and your FNB online banking profile details.
Step 3: Select Your Currency Pair
Once your forex account is linked, the next step is to select the currency pair that you want to buy. The FNB app provides a wide range of currency pairs, including USD/ZAR, EUR/ZAR, GBP/ZAR, and many others. To select your currency pair, go to the “Forex” tab on the app and select “Buy Currency.” You will then be prompted to select the currency pair that you want to buy.
Step 4: Enter the Amount and Confirm the Rate
After selecting your currency pair, the next step is to enter the amount that you want to buy. The FNB app allows you to buy forex in different denominations, such as USD 10, USD 50, USD 100, and so on. Once you have entered the amount, the app will display the current exchange rate for the selected currency pair. It is important to confirm the rate before proceeding to ensure that you are buying at the right price.
Step 5: Review and Confirm Your Order
Before finalizing your forex purchase on the FNB app, it is important to review your order to ensure that all the details are correct. Check that you have selected the right currency pair, entered the correct amount, and confirmed the exchange rate. Once you are satisfied with your order, you can confirm it by clicking on the “Buy” button.
Step 6: Pay for Your Order
The final step in buying forex on the FNB app is to pay for your order. The app provides different payment options, such as using your FNB account or a credit card. Once you have selected your payment method, you will be prompted to enter your payment details, such as your card number, expiry date, and CVV. After entering your payment details, click on the “Pay” button to complete your forex purchase.