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No more old fashioned savings books

Vicky Muranda, Communications Manager of the FNB Namibia Group said this week all new savings accounts will be either a Future account or a CardWise Zero account. The Future account is a transmission account for the youth and offers them a Visa debit card, free inContact, debit orders, scheduled payments, cellphone banking and FNB Online Banking. CardWise Zero give customers access to the account through a Visa debit card that can be used to pay for purchases in shops as well as to withdraw funds at any FNB ATM.

Savings accounts based on a savings book will be phased out at First National Bank as from 10 August this year. Only clients older than 55 will be allowed to keep their old savings books.

Bank book holders to be upgraded
This week FNB Namibia advised that the book based savings accounts will no longer be available to customers younger than 55 and no new accounts will be opened for customers. This will become effective from 10 August 2015.
Customers up to 18 years of age will be upgraded to the Future account, which is a transmission account for young customers with no subscription fee for any of the electronic transaction mediums offered by FNB. Customers between the ages 19 and 54 will be upgraded to CardWise Zero, this is FNB’s version of the basic bank account offered. These account holders will also not be charged a subscription fee for any of the electronic payment mediums available to them.
“Customers of 55 years old and older can keep their Savings Books and continue to bank as always,” explained Vicky Muranda, Communications Manager of the FNB Namibia Group. “Account conversions will be done automatically and customers will only be required to visit the bank to collect their FNB debit cards. We look forward to welcoming our customers in the digital era, thereby saving them time and money when they conduct their banking.”

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