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What is eWallet and how does it work?

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What is eWallet and how does it work?

An e-wallet is a secure money management app or online platform that allows you to make purchases with retailers on-site, transfer or send money and track rewards programs. You can link the e-wallet to your bank account or pay as you go with a prepay option.

What is e-wallet in banking?

E-wallet stands for electronic wallet. It is a type of electronic card which is used for transactions made online through a computer or a smartphone. The utility of e-wallet is same as a credit or debit card. An e-wallet needs to be linked with the individual’s bank account to make payments.

Where can I use eWallet?

Several chain tenants, franchises and restaurants accept Touch ‘n Go eWallet payments, including Tesco, all retail stores owned by Dairy Farm International Holdings (Giant Hypermarket, Cold Storage, Mercato), Watsons, KFC, McDonald’s, Dunkin’ Donuts, Baskin-Robbins, Starbucks, Coffee Bean and Tea Leaf, Shell, Petron.

How do I get an eWallet account?

Who can sign up for E-Wallet? Anyone can setup an E-Wallet. To create an E-Wallet profile, simply click “E-Wallet” from the My Account Dashboard tab. Then follow the simple process to enter credit card and back account information to complete the set-up.

Do you need a bank account for eWallet?

eWallet allows anyone to send money to anyone with a valid South African Cellphone number, even if they don’t have a bank account. The money is transferred instantly and can be used to withdraw cash from FNB ATMs, buy prepaid airtime or electricity, Send Money to another Cellphone.

How do I put money on eWallet?

  1. Step 1: Click on “+ Reload eWallet” from your home screen.
  2. Step 2: Enter the amount to reload and click “Reload eWallet”
  3. Step 3: Click “New Credit/Debit Card” and fill in card details.
  4. Step 4: Key in the OTP sent by the bank to you and you’re done!

How do I pay with eWallet?

How do I pay with the Touch ‘n Go eWallet using QR Code at Merchant’s outlets?

  1. Step 1: Tap on Pay icon from app homepage.
  2. Step 2: key in your 6-digit PIN (for first time use or you have suspend pay service)
  3. Step 3: Show QR Code to merchant.
  4. Step 4: Merchant scan QR code.
  5. Step 5: Payment complete!

What is the best eWallet?

The Best Digital Wallets of 2021.

  • Cash App.
  • Google Wallet.
  • Android Pay.
  • Samsung Pay.
  • PayPal.
  • Venmo.
  • Alipay.

    • Do you need to have a bank account for eWallet?

    It works as a fast mode electronic wallet that allows you to perform transactions from the comfort of your home. The key requirement of owning an eWallet account is a South Africa cellphone number via FNB ATMs, FNB Cellphone Banking, FNB Online Banking or FNB App.

    How do I receive money from eWallet?

    1. On your cellphone (if you have not received an SMS with an ATM PIN)

    1. Dial *120*277# to access the eWallet.
    2. Select ‘Get cash’
    3. You’ll receive an SMS with an ATM PIN.

    Can I withdraw eWallet at any ATM?

    Recipient can withdraw money at any PEP store or FNB ATM. You will receive SMS confirmation of how much money has been sent and who sent the money.

    How much does it cost to send eWallet?

    Fees

    Action Cost
    Send money from FNB Account to eWallet R2 + R2.20 per R100
    Reversal of incorrect ‘send money to eWallet’ transaction – telephone/branch R60
    Reversal of incorrect ‘send money to eWallet’ transaction – cellphone banking R16
    Fees for Recipient Cost