FNB AgencyPlus Network Processes R94 Million in Transactions

The South African banking network has successfully facilitated over 11,000 new account openings since April 2025.

Updated on Oct. 27, 2026 in Financial Services

A simple matte-black payment terminal on a clean wooden counter in a brightly lit local storefront. — FNB's AgencyPlus network has processed over R94 million in transactions since April, expanding essential banking access through local storefronts across South Africa. AI Illustration. Upload story photo >

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Do you believe local shops acting as banking agents effectively help your community's financial needs?

FNB AgencyPlus, which launched in September 2023, has processed more than R94 million in transactions since April 2025. The network allows customers to conduct banking services at local businesses across South Africa.

Why it matters

By enabling banking at local stores, the service helps customers avoid travel time and transport costs while expanding financial inclusion. This model has also contributed to significant growth within the bank's Community Economy segment.

The AgencyPlus network currently utilizes over 300 active agents to process nearly 15,000 transactions each month, with eWallet withdrawals comprising more than 57% of that activity. Additionally, the bank reported a 14% increase in Community Economy revenues for the 2026 financial year.

The players

FNB

First National Bank is one of South Africa's oldest and largest financial institutions.

The details

Agents operate from local stores between 06:00 and 20:00 to provide essential banking access. In addition to transaction processing, the initiative saw advances to businesses with annual turnover below R5 million grow by 31%.

September 2023: AgencyPlus launched.
April 2025: Start of transaction and account opening data tracking.
2026 financial year: Community Economy segment reported revenue and deposit growth.

Market Landscape

The expansion of the AgencyPlus network aligns with the broader move toward agency banking in emerging markets to bridge the access gap. This strategy allows FNB to capture market share in the Community Economy while competing with mobile-first fintech alternatives.

Customers can save on transportation costs by using local agents for deposits and eWallet withdrawals instead of travelling to traditional bank branches. The availability of agents from 06:00 to 20:00 provides extended access to financial services outside of standard banking hours.

The takeaway

The growth of the AgencyPlus model highlights the effectiveness of integrating financial services into existing local retail environments. Customers should check if their nearest local store participates in the network to reduce their own daily travel requirements.