Bank advises businesses and farmers on alternative forms of payment as cheque phase-out period approaches
FNB advised its customers to manage their respective cheque issuing and acquiring in such a way to gradually wind the process down over the few months leading up to 30 June 2019.
This comes after the Payments Association of Namibia recently announced that cheques as a payment method in Namibia will no longer be possible by 30 June 2019.
Louis Potgieter, FNB Chief Operations Officer said that the Bank, however, offers business and agricultural customers as well as consumers a great variety of payment methods with which they can conduct their banking.
He said that online banking, cellphone banking and the FNB App are but some of the payment solutions recommended to their Agri customers, with the bonus of carrying no monthly subscription fees.
Potgieter said that farmers, for example, can purchase their chosen bull at an auction via cell phone banking and would also able to pay their workers by creating eWallets for them or loading them as monthly beneficiaries, adding that the workers can then withdraw their funds when in town.
“We also encourage our customers to make use of card payments, online banking, the FNB App, ATM banking and Cellphone banking. These options pave the way for all banking needs, whether business or consumer, from payments to viewing balances, creating scheduled payments changing PIN, foreign exchange transactions, Geo payments and making transfers – to name but a few. Electronic channels are much more cost effective and truly support convenience as banking can be done whenever and wherever. All these channels are very safe and secure and customers can rest assured that their money is well protected,” Potgieter stressed.