WINDHOEK, July 2 – The First National Bank of Namibia (FNB) said Monday that the bank has reduced banking fees for the 2019/20 financial year, effective Monday.
FNB Chief Executive Officer Erwin Tjipuka said in a statement that the aim of the reduction is for the bank to provide its clients with the best value and to improve customers service.”We want to help customers to better manage their money 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 1,000 Namibian dollars (71 U.S. dollars) for students and future accounts,” Tjipuka said.
Tjipuka said as from Monday, all FNB customers will benefit from reduced transfer fees, which have been cut by 40 percent.
“Swiping fees have been kept at 5 Namibian dollars (35 U.S. cents), and customers can also withdraw for 5 Namibian dollars with cashback/eWallet at point of sale devices. This fee is 54 percent cheaper than what it would cost at an FNB ATM,” Tjipuka said.
Annalize Mwevi, an FNB client, said she is pleased about news saying it will help a lot since the country is faced with a recession.
“The recession is very bad. Everything keeps increasing. I am pleased to hear about the reduction. To be able to have more money now is very great news for us Namibians,” Mwevi said.
The First National Bank of Namibia is one of the biggest banks in Namibia. – XINHUA