Safe custody too expensive, bank stops service

Tracy Eagles, the Chief Marketing Officer at FNB Namibia Holding advised this week the bank has decided to stop offering a safe custody service.

Defending their abrupt decision, the bank said it is increasing its focus on core services such as investments, insurance, transacting and lending.

Safe custody or more popular known as safe deposit boxes enabled clients to store small, valuable items, cash and documentation on the bank’s premises, for an annual rental fee.

“The bank regularly evaluates the array of services it offers and has subsequently taken the decision to discontinue safe custody boxes from our regular service offering” stated Eagles.

FNB customers who still use safe custody boxes have been informed that the service is discontinued and that they have to make arrangement before 01 June 2017 to remove their valuables. All items must be collected latest 30 June 2017.

“Customers have been advised to contact the branch where their belongings are held so that the branch can assist them to make the necessary arrangements to return these for own safekeeping” she said.