Business Briefs

FNB cuts down fees but promises to provide best value to customers

FNB continues to provide the best value to its customers through reduced banking fees and improved potential to earn Rewards.

Chief Executive Officer of FNB Namibia, Erwin Tjipuka said, “The positive changes are part of our annual pricing review for 2019/2020. The changes reflect an integrated approach to helping our customers with money management in line with their individual and family needs. We are also encouraging a savings culture by offering customers a free savings pocket, as well as free ATM withdrawals up to N$1000 for student and future accounts”.

From 1 July 2019, FNB customers can look forward to reduced transfer fees which have decreased by 40%. Swipe fees have been kept flat at N$ 5.00. Customers can also withdraw for N$5.00 with cash back/eWallet at point of sale devices. This fee is 54% cheaper than what it would cost at an FNB ATM. These new methods of transacting also increase the points where customers can transact to over 4000 countrywide.

Bank Windhoek announces revised fee structure

Considering the current operating environment, Bank Windhoek has announced that the bank has not increased its account management fees for Transaction and all Current Accounts.   Credit Card fees have also not been increased.  Bank Windhoek has also introduced value added services such as free Legal Access Cover to the value of N$30 000 to all its Current- and Transaction Accounts holders, as well as Life Cover of N$30000 and N$7500 on Current- and Transaction Accounts respectively.

The challenges faced by our customers in the current economic environment are at the forefront of our agenda, therefore the Bank has reduced the overdraft review fee reference rate by 10%.

In addition, access to the following banking services remain free of charge; Internet Banking, Mobile App, Cellphone Banking, EasyWallet, GoPay, Purchasing of prepaid electricity and SMS notifications for debit and credit transactions

“We aim to give our customers the best advice on using their bank accounts as cost effectively as possible, ensuring that they pay the lowest fees for their day-to-day banking needs” Baronice Hans, Managing Director of Bank Windhoek said.

Sanlam opens new office in Katima Mulilo

Sanlam officially opened their brand new fully fledged office in Katima Mulilo.

The new office was opened as part of the company’s strategic focus of “Client First”. Which sees the company putting their clients first in all aspects.  Speaking at the official opening, Sanlam Group CEO, Tertius Stears said that after numerous requests for an office in Katima Mulilo, they have heard the outcry from their clients and decided to respond positively by opening an office in their beautiful town.

Stears stressed that before this office the closest office to Katima Mulilo was located in Rundu which is over 500km away from Katima Mulilo. The Sanlam office in Katima Mulilo thus means that Sanlam is better able to serve their clients and potential clients in Katima Mulilo in a faster, efficient and effective manner.