FriMi Introduces Revolutionary “Round up Savings”

20th November 2020

Sri Lanka’s first digital banking experience, FriMi powered by Nations Trust Bank, is proud to announce the launch of the revolutionary Round Up Savings feature for the first time in Sri Lanka.

Round Up Savings is an innovative new way to save, and FriMi is the first to introduce this concept to Sri Lanka. Through this feature, FriMians can save money every time they use FriMi to pay for their purchases. With Round Up Savings, every FriMi payment will be rounded up to the nearest LKR 50, 100 or 500 and the difference will be credited to a separate account within FriMi itself. FriMi users can then maintain this account to collect their savings every time they spend, and choose to withdraw this money at any time, or simply keep growing their savings with interest. Round Up Savings can also be paused at any time and FriMi users can choose how much their payments should be rounded up to.

Explaining further about the new feature, Laila Zafir, Product Manager, FriMi said, “Saving in small amounts is easy, and when you save small amounts frequently, it adds up. This is the idea behind Round Up Savings, which was actually inspired by how the change money usually just collects somewhere when we use cash to pay. That is when we hit upon the idea to create a new and inspiring way to save and earn interest that will appeal to our customers.”

FriMi is a pioneering, fully-fledged digital banking experience, payments platform and lifestyle partner powered by Nations Trust Bank. Sign up is 100% online, instant and open to anyone with a smartphone, a first for Sri Lanka. All FriMi accounts earn interest at rates of up to 3.75% per annum and can be topped up by cash deposits at all Nations Trust Bank Branches, CDMs and FriMi Agents or electronically via linked cards and accounts or direct digital fund transfers from any bank, including foreign remittances, and also by requesting and or receiving money from other FriMi users.

It allows users to pay at merchants and send & receive money while enjoying the best offers and discounts, all through one simple App. Paying with FriMi at merchants is simpler than ever with contactless payments via LANKAQR codes and it can be used to pay anyone for anything, even if they do not use FriMi. You can also take advantage of FriMi’s other exciting features such as accessing your up-to-date utility bills in real-time and making payments, splitting bills with friends, managing and tracking your finances and even opening fixed deposits. FriMi is available on both Android and iOS and is completely free to use with no hidden fees or charges. Visit your app store or www.frimi.lk to download.

Nations Trust Bank PLC is among the top 15 business establishments in Sri Lanka as ranked by Business Today. Stemming from its vision of “helping people and businesses by providing financial services and information to achieve their goals and aspirations in a sustainable way”, the Bank serves a diverse range of customers across both individual and corporate, with an enviable portfolio of banking and financial products and services. Strongly focused on digital empowerment through cutting-edge digital banking technologies, the Bank is a pioneer in many innovative customer centric banking solutions such as extended banking hours, 365-day banking and FriMi – Sri Lanka’s first digital banking experience. Delivering premium value, service and connecting its Cardmembers to rewarding experiences and opportunities Nations Trust Bank PLC is an issuer and sole acquirer of American Express Cards in Sri Lanka. The Bank operates 96 branches across the country and has an ATM network covering 127 locations and 48 Cash Deposit & Withdrawal Machines, plus more than 3,700 ATMs on the Lanka Pay Network.