The ANC is planning to dump FNB as its banker in favour of Postbank, but only on condition that the state-owned bank receives a full retail banking licence.
A resolution adopted by delegates at the national elective conference in Mangaung in December states that the governing party is contemplating moving its bank accounts to Postbank in pursuit of "more affordable" bank charges.
More than a million ANC members deposit their annual membership fees - which have just been hiked to R20 from R12 - to a party bank account held at FNB.
The relationship between the bank and the ANC soured after a public spat over FNB's controversial ad campaign featuring video clips of school children expressing their aspirations for the country.
The ANC said the campaign amounted to treason.
Sizwe Nxasana, CEO of FNB's parent company FirstRand, apologised to the ANC three weeks ago.
ANC spokesman Keith Khoza referred queries to treasurer-general Zweli Mkhize, who could not be reached by the time of going to print.
Hans Hillebrand, spokesman for FNB public sector banking, declined to comment.
"We are finalising our application which, if successful, will see Postbank become a fully fledged retail bank," said Shaheen Adam, the acting managing director of Postbank.
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