FirstRand

Universal bank · Johannesburg, South Africa

FirstRand is the holding company of FirstRand Bank and the largest financial services group in Africa by market capitalisation, headquartered in Johannesburg and listed on the JSE. It operates through FNB for retail and commercial banking, RMB for corporate and investment banking, WesBank for vehicle finance and Aldermore Bank with MotoNovo in the UK. Total assets were R2.59 trillion at 30 June 2025, with 50,717 employees and a CET1 ratio of 14.0 percent. FNB business customers can pick the First Business Zero account with no monthly fee or Gold and Platinum accounts priced from R49 a month, and hold 26 foreign currencies in a Business Global Account. Ratings are capped by the South African sovereign at Baa3 (Moody's) and BB (S&P) for the bank, both with positive outlooks.

Legal name: FirstRand Limited
Regulated by: Prudential Authority, South African Reserve Bank, Financial Sector Conduct Authority (South Africa), PRA and FCA (UK, Aldermore Bank PLC), Central banks in Namibia, Botswana, Eswatini, Lesotho, Zambia, Mozambique, Nigeria, Ghana and India
Licence confirmed: yes, on a regulator's own list
Established: 1998
Website: www.firstrand.co.za

Scores, 0 to 10

8.5Latin America, Africa & South Asia

Largest African financial group by market capitalisation, with FNB subsidiaries in seven other African countries, RMB corporate banking and a branch in India. · source

7.0Lowest fees

First Business Zero has a R0 monthly fee; Gold Business pricing options run from R49 to R469 a month (1 July 2026 to 30 June 2027). · source

7.0Business cards (Visa, Mastercard)

FNB Business Visa cards carry no charge on local or international purchases and a virtual card is available immediately in the app; business credit cards earn eBucks. · source

6.0Financial strength & stability

CET1 ratio 14.0 percent at 30 June 2025, but bank ratings are Baa3 (Moody's) and BB (S&P), capped by the South African sovereign. · source

5.5Fast digital onboarding

First Business Zero targets sole proprietors transacting digitally with turnover up to R5 million; foreign-owned company onboarding is not published. · source

5.5Online businesses: e-commerce and SaaS

FNB Merchant Services with SpeedPoint and Speedee devices and a Business Global Account for inward foreign receipts, but no marketplace payout products. FNB Business Global Account holds 26 foreign currencies with no minimum balance and online management and the pricing guide includes an application programming interface offering, but there is no Stripe integration or revenue-based lending. · source

5.5Trade, manufacturing & import-export

RMB corporate and investment bank with London, US and India offices supporting Africa trade flows and the HSBC South Africa corporate book. · source

5.0United Kingdom

Aldermore Bank PLC is PRA authorised with FSCS cover but offers only savings, mortgages and business finance, not business current accounts. · source

5.0Cross-border payments, FX and multi-currency accounts

Business Global Account holds 26 currencies, but SWIFT payments carry 0.55 percent commission (R275 to R550 online) on top of FX margins. SWIFT MT940 and CAMT.053 host-to-host statements via SFTP, 26 currency Global Account, and RMB taking over HSBC South Africa's corporate portfolio. · source

5.0Foreign-owned & non-resident companies

FirstRand's Wolfsberg questionnaire applies enhanced due diligence to non-resident customers on a risk basis rather than refusing them, and the FNB 32 Day Dollar Notice account is open to residents and non-residents. · source

4.5Startups & VC-backed companies

Gold Business Account serves businesses from R0 turnover and First Business Zero is free, but no venture debt or founder programmes are listed. · source

4.5High-risk verticals (iGaming, cannabis, adult, forex)

The Wolfsberg questionnaire prohibits unregulated gambling entities, applies enhanced due diligence to regulated gambling and to cannabis-related entities, and the sector policy fully excludes pornography and prostitution. · source

4.0Best interest on business balances

Business Global Account pays base rate less 3.15 percent on small USD balances; rand savings rates are not shown in the business pricing guide. · source

3.5Fintech companies that need a partner bank

No safeguarding or sponsor-banking programme for payment firms is published; API access in the pricing guide is limited to WhatsApp business integrations. · source

3.5On-ramp: buy crypto with fiat

Since 2021 FNB declines international debit and credit card payments coded as crypto, while rand Instant EFT payments to South African exchanges went through in April 2026 tests; FNB gave notice in November 2019 to close the accounts of all crypto exchanges and intermediaries, and no reversal was found. · source

3.5Off-ramp: crypto to fiat in a business account

FNB cut off banking for crypto exchanges and intermediaries in November 2019 and publishes no source-of-funds process for crypto proceeds reaching business accounts; exchanges now pay out to FNB customers through their own banks, so evidence on business proceeds is thin. · source

2.0Crypto-friendly bank

No published policy for onboarding crypto exchanges in South Africa or the UK; FNB pricing guides list no digital-asset services. · source

1.5Customer satisfaction

FNB Trustpilot 1.5 out of 5 from 410 reviews with 82 percent one-star ratings. · source

1.0Crypto wallet and custody for a business

FNB, FirstRand's main bank, offers no spot crypto, custody or branded wallet in the FNB App, per an April 2026 guide, and no crypto custody was found at RMB or Aldermore. · source

1.0Accept crypto payments

FNB's merchant and business transactional products include no crypto or stablecoin acceptance, checked September 2026. · source

1.0Bitcoin

FNB offers no bitcoin buying, holding or transfer, and its guide notes the bank's published view on crypto is risk-first, checked April 2026. · source

1.0Ethereum

FNB offers no ether buying, holding, transfer or staking, checked September 2026. · source

1.0Stablecoins (USDC, USDT and others)

FirstRand offers no stablecoin holding, payouts or settlement, and it is not in the 21-institution bank stablecoin venture announced on 1 September 2026, whose only African member is Standard Bank. · source

Sources

Built on public information and the BankStore team's own aggregated experience; no confidential client or partner data. Bank Index and BankStore are not banks. This is information, not financial advice.