• October 15th, 2019

FNB cuts fees and pledges best value to customers


WINDHOEK - FNB is adamant that it continues to provide the best value to its customers through reduced banking fees and improved potential to earn rewards. 

“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,” said Chief Executive Officer of FNB Namibia Erwin Tjipuka said.

From July 1, 2019, FNB customers can look forward to reduced transfer fees, which has decreased by 40 percent while swipe fees have been kept flat at N$5.00. Customers can also withdraw for N$5.00 with cashback/eWallet at point of sale devices. This fee is 54 percent cheaper than what it would cost at an FNB ATM. These new methods of transacting also increase the points where customers can transact to over 4000 countrywide. 

As in the past, FNB’s innovative messaging service - inContact, and prepaid electricity purchases will remain free on all electronic channels. FNB continues to offer customers making use of the Electronic Pricing Option unlimited free electronic transactions, free swipes, free purchases and free subscription to FNB’s electronic channels, such as FNB Online Banking, FNB Cellphone Banking, and the FNB App. 

“The combination of reduced or unchanged banking fees, digital benefits such as data free App usage and free cash back rewards, show that we are highly competitive across our 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 bank experience for their needs” adds Tjipuka. 

The FNB Rewards programme has been a major behavioural driver over the past two years, encouraging the move to easier, cheaper, online, or mobile and card-not-cash transacting, rewarding customers with more than N$23 million paid back as cash to customers who have moved to more accessible channels, using their credit and debit cards, as well as digital channels.

“We pride ourselves on putting customers at the centre of our banking solutions and the changes we’ve implemented demonstrate our firm commitment to value-based banking. The changes we’re making will go a long way to building main-bank relationships with our customers,” concluded Tjipuka. 


Staff Reporter
2019-07-01 10:12:30 3 months ago

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