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FNB Namibia reduces banking charges by 40%

FNB Namibia reduces banking charges by 40%

FNB Namibia reduced its transfer fees by 40%, with swipe fees kept flat at N$5 while withdrawing fees on cashback or ewallet are charged at N$5 on point of sale devices, effective 1 July.

“The positive changes are part of our annual pricing review for 2019/2020. The changes reflect an integrated approach to helping our customers with money management in line with their individual and family needs. We are also encouraging a savings culture by offering customers a free savings pocket, as well as free ATM withdrawals up to N$1000 for student and future accounts,” FNB’s Chief Executive Erwin Tjipuka said.

He added that the combination of reduced or unchanged banking fees, digital benefits such as data free App usage and free cashback rewards, show that the bank is highly competitive across transactional accounts.

“We believe that, currently, our bank accounts and rewards offer customers the best value in the market. More importantly, customers can be assured that we will provide them with the best banking experience for their needs,” said Tjipuka.


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Donald Matthys

Donald Matthys has been part of the media fraternity since 2015. He has been working at the Namibia Economist for the past three years mainly covering business, tourism and agriculture. Donald occasionally refers to himself as a theatre maker and has staged two theatre plays so far. Follow him on twitter at @zuleitmatthys