Factors influencing the acceptance and use of a South African online bank

Background: Online banking gained prominence during the coronavirus disease 2019 (COVID-19) pandemic as an alternative to traditional banking. However, limited studies have explored online banking acceptance in South Africa. Objectives: This study investigates the factors that influence online banking acceptance among South Africans in a context where use is limited. Method: Thematic content analysis examined 113 Google user reviews from South Africans using an exclusive online bank. Unified Theory of Acceptance and Use of Technology 3 (UTAUT3) was used as a theoretical framework, analysing factors such as performance expectancy (PE), effort expectancy (EE), facilitating conditions (FC), hedonic motivation (HM), price value (PV), trust, perceived risk (PR), habit, and social influence. Results: Seven UTAUT3 constructs influenced online banking acceptance and use in South Africa during the pandemic: PE, EE, FC, HM, PV, trust, and PR. The influence of habit and social influence was not evident. Conclusion: Understanding factors influencing online banking acceptance in South Africa is crucial for policymakers and institutions. Addressing information communication technology challenges can enhance accessibility and benefits, promoting financial inclusion, and empowerment. Contribution: This research fills the gap by examining online banking acceptance in South Africa. Findings inform interventions and policies to improve access and adoption. Practical implications extend to institutions and policymakers, fostering financial inclusion.