Bank Windhoek announces its new fee structure, effective 1 July 2018.
As a consumer centric organisation, Bank Windhoek continues to invest in affordable and convenient banking solutions for our customers.
Bank Windhoek’s extensive offering of banking services is complemented by a diverse variety of locally developed digital banking channels and is available through our national network of branches, agencies and ATMs.
As a co-creator of the Namibian Code of Banking Practice, Bank Windhoek embraces the principle of transparency when it comes to fees for products and services and is therefore committed to fully disclose these. Furthermore, we aim to give our customers the best advice on using their bank accounts as cost effectively as possible, assisting them to pay the lowest possible fees for their day-to-day banking.
Bank Windhoek endeavours to inspire customers to make use of our electronic banking channels as a method of transacting, as these are safe, easy to use and cost effective. In support of this, we have kept access to iBank, our Mobile App, Cellphone Banking, EasyWallet, GoPay and the purchasing of prepaid electricity totally free of charge. Our AlertMe SMS notifications also remains free, empowering customers to be informed of all activity on their transactional accounts and reducing the risk of losses due to fraudulent transactions.
Digital banking services continue to offer customers a convenient and cost-effective channel to conduct their banking 24/7.
We recently successfully launched our Women in Business financial solution which is aimed at women entrepreneurs. Amongst the benefits in this product is the option to choose to have a Bundled Fee or a Pay As You Go Fee when using the Women in Business Current Account.
We are also proud to offer competitive Point-of-Sale purchase (transaction) fees in the market and we would like to encourage customers to make use of their debit cards for transactions which is much safer than carrying cash.
Bank Windhoek has to this end, revised its annual fees structure to align with industry standards and other macro-economic factors such as the inflation rate. In delivering these services to its clients, Bank Windhoek incurs fixed and variable costs such as operational and staff costs, the cost of expanding and upgrading our branch and ATM infrastructure across Namibia, the cost of transporting and safeguarding cash and continuous investments in our systems to ensure that our service delivery to customers improves continuously. We would like to reassure our esteemed clients that we have also taken the current economic conditions in account and have fairly priced our products and services.
In support of making banking more affordable and bringing additional value to our customers, we are pleased to announce that we will be decreasing our monthly account management fees for Transaction and all Cheque Accounts. In addition to this decrease, we will be adding free Legal cover to the value of N$30 000 to all these accounts, as well as free Life Cover to the value of N$30,000 to all Cheque Accounts.
Transaction Accounts holders have already had this benefit for a number of years.
A notice, in the form of a poster in all our branches and agencies, will display the new fees and charges effective 1 July 2018. The main fees and charges of Bank Windhoek will also be available in brochure format. Both the notice and the brochure will be published on Bank Windhoek’s website at www.bankwindhoek.com.na.
Customers are encouraged to contact their nearest Bank Windhoek branch or call our Customer Contact Centre at 061 299 1200, should they have any specific enquiry regarding the adjustment of the Bank’s fees on 1 July 2018. Customers can also send an email to feedback@bankwindhoek.com.na.