SADC Correspondent | Oct 30, 2018 | 0
Bank Windhoek promotes EasySave accounts at the Windhoek Show
Bank Windhoek’s stall at the Annual Windhoek Agricultural show will be used as a platform to promote its EasySave account.
Bank Windhoek launched its EasySave transaction account in 2006 as the first low-cost bank account in Namibia, making banking accessible to low income earners and inclusive of the previously unbanked population. The Bank of Namibia requires all banks to launch and implement a Basic Bank Account before 31 October 2012 for individuals earning N$2000 or less per month. In line with this directive, Bank Windhoek revised the fees of the EasySave account to fully comply with the standards of the Basic Bank Account. The new EasySave account was implemented on 1 August 2012 and all existing as well as new EasySave clients started to benefit from reduced fees as from this date.
The EasySave account offers the following features: No monthly service fee; Life Cover of N$4000 payable upon your death to your beneficiaries; a Visa Electron Debit Card for Point-of-Sale transactions and ATM transactions; Annual Card Fee – Free for the first two years; No Cash Deposit fees; No Cheque Deposit fees; Minimum balance of N$20 to be maintained on account; and low ATM withdrawal fees of only N$3.30 (Vat Included) per transaction.
Further benefits include access to Bank Windhoek’s Cellphone Banking for paying accounts, sending money to friends and family by loading them as beneficiaries on your Cellphone Banking profile and top-up of your MTC Airtime. EasySave account holders also have access to Bank Windhoek’s Internet Banking facilities; access to Bank Windhoek’s range of savings products; and debit orders and stop orders can be linked to the EasySave account.
To open an EasySave account is quick and easy. No payslip is required but a valid form of identification is required. The only conditions are that the annual turnover on the account may not exceed N$24000, a minimum deposit of N$20 to open the account, and the applicant must be 16 years or older.
In short, EasySave is easy to open; easy to maintain; easy to transact with and easy to afford.
The re-launch of Bank Windhoek’s EasySave account with lower fees, well before the deadline of 31 October 2012, confirms Bank Windhoek’s commitment to the national initiative on financial inclusion which was also highlighted in the recently launched National Development Plans (NDP4). “Bank Windhoek acknowledges that financial inclusion is imperative for the development of a sound economy and will therefore remain focused on delivering innovative new products and services and technology that addresses the basic needs of the under-banked and low income population. Our EasySave clients therefore also have access to our Cellphone Banking and Internet Banking facilities for safe and convenient banking” the bank said.
“The 2012 FinScope survey report provides us with insights into the barriers to banking and is clear on opportunities that exist to further improve financial access. Appropriately priced, easy-to-use products and services that provide clients with a safe and secure means of transacting with their money will go a long way in achieving this goal.”
Bank Windhoek furthermore believes that improved financial literacy will empower consumers that are already financially included, to make informed decisions on their personal finances. Bank Windhoek will therefore continue with its consumer education initiatives. “We therefore also fully support and endorse the Financial Literacy Initiative launched by the Minister of Finance in March 2012 and its objectives to increase awareness on consumer’s rights and increased knowledge of financial products, services and institutions.”
For more information on Bank Windhoek’s EasySave account, visit your nearest Bank Windhoek branch or visit our stall at the annual Windhoek Agricultural show or call our Customer Contact Centre at Tel: (061) 299 1200.