10 July 2009
Windhoek — In an effort to encourage saving, Bank Windhoek said its monthly service fee for GroupSave, a savings product for groups of people saving together, remains unchanged.
Bank Windhoek's new fee structure became effective on 1 July.
To promote the use of alternative banking channels, the fees for Cellphone Banking and the monthly subscription for Internet Banking are also unchanged. The annual Card and Protection fees for clients with Visa Electron or Visa Debit cards also remain unchanged.
Bank Windhoek's SeniorSave product for clients above 55 years still offers free ATM withdrawals at Bank Windhoek ATMs, free Point-of-Sale transactions and a minimum service fee of only N$2 (including VAT).
EasySave clients also pay a fee of only N$2 while ATM withdrawals, mini-statements and balance enquiries are free of charge. EasySave clients further benefit from free life cover worth N$2500.
The handling of cash includes the transportation and safeguarding of cash held by the Bank countrywide and due to increased costs to hold the cash, an increase of 10% in cash handling fees was necessitated. The monthly service fees on Bank Windhoek's cheque and transaction accounts have been increased on average by more than 8%, which is well below inflation. The increase in the monthly service fees on some products is only 4%.
A poster displaying the maximum annual fees and charges effective 1 July, as required by the Bank of Namibia, will be displayed in every branch. The fee information is also available in a brochure.
Be the first to Write a Comment!
Copyright © 2009 Namibia Economist. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.
AllAfrica aggregates and indexes content from over 125 African news organizations, plus more than 200 other sources, who are responsible for their own reporting and views. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica.
