Recent statistics released by First National Bank's Internet Banking portal, eBucks.com, illustrate a strong upward trend in Internet Banking within South Africa. This is despite the negative publicity the Internet has received in recent months.

Figures released by FNB Internet Banking have illustrated that the total value of transactions processed via this channel over the festive season increased by 71%, from R4.2bn in December 2002 to R7.2bn in December 2003. In addition to the increase in the value of transactions, the number of transactions processed, including payments and transfers, also increased 77% from December 2002 to 2003.

Angus Brown, CEO of eBucks.com, says, "The increase could be attributed to two factors. Firstly is the noted increase in general Internet usage in South Africa, and secondly, people are realising the convenience and value that Internet Banking adds, with the result that more customers are taking advantage of this banking channel.

The number of FNB Internet Bankers increased a substantial 73% in the last year, from 129 072 users in December 2002 to 223 355 users in December 2003. "The increase in Internet Bankers is indicative not only of consumers' growing confidence in the Internet, but also their belief and trust in the security and ease of FNB's Internet Banking service," adds Brown.

"We look forward to 2004 exceeding all successes previously seen, especially with the introduction of a number of innovations that will further enhance our customers' Internet Banking experience," concludes Brown.

About eBucks:

eBucks, the rewards programme offered by First National Bank (FNB) and RMB Private Bank, is acknowledged as one of South Africa's leading rewards programmes with highly active members spending in excess of 80% of the eBucks earned in any given month.