Lower banking fees for 2019

21 December 2018 | Banking

Pensioners will no longer pay monthly management fees for their accounts with Standard Bank Namibia as from the beginning of 2019.

The bank said in a media statement yesterday the reduction would come into effect as from 01 January 2019 as part of its annual price review, while it has also introduced interest payment on positive current account balances held by pensioners

The bank has in addition reduced its point-of-sale fees by 17% to allow its clients to save on transactional costs and its electronic transaction fees on its internet banking platform by 30%.

The head of marketing, communications and CSI, Magreth Mengo, said the annual pricing review was in line with its customer-centric approach, which is committed to providing access to affordable banking services.

“We will not be increasing electronic banking fees for our retail clients on internet banking, cellphone banking and the Standard Bank application,” she stated.

The head of personal and business banking, Mercia Geises, said “it makes no sense to dig a deeper hole for a customer who is already finding it difficult to catch their breath”. – Nampa

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