WINDHOEK – Earlier this year, the Bank of Namibia announced that all financial institutions would no longer be allowed to accept petrol cards as legal tender for fuel purchases, spare parts or repairs as from February 28, 2014. In line with this regulation, all petrol/garage cards will be phased out in Namibia by a date determined by the central bank. This ultimately means that no petrol or garage cards will be accepted for fuel purchases after this date.
In view of these upcoming developments, Standard Bank Namibia has advised its customers that they can however still pay cash or use their Standard Bank credit/debit cards or even their fleet card when fuelling up or having a car serviced.
“Customers can apply for a credit or debit card from Standard Bank Namibia and use that to purchase fuel as from the end of February next year. A credit card is quite versatile in the sense that it is a universal card recognised and used internationally. It can be used anywhere in the world,” says Deborah Henckert, Standard Bank Namibia’s Manager for Unsecured Lending, Credit Card Issuing & Market Development. She adds that a credit card can also be linked to the current account thereby making access to one’s finances even more accessible and convenient.
“With a Standard Bank credit card there is no need to carry cash or a chequebook and by charging all your purchases to your credit, you only have one statement to manage. It is perfect for your day-to-day transacting and if used wisely this could be your most effective financial management tool,” explains Henckert. The card is also ideal for traveling as over 30 million merchants accept it world-wide and at all MasterCard and Cirrus automated teller machines (ATMs).
Additional benefits of a credit card also include no transaction fees, free basic travel insurance, free card replacement locally and internationally, while customers can make free cash deposits, receive free balance enquiries at ATMs, free over-the-counter provisional statements and also obtain up to 55 days’ interest-free credit.
Meanwhile, customers are also informed that the phasing out of petrol/garage cards usage in Namibia does not currently have an effect on the Fleet Management Cards of Standard Bank Namibia.
By Staff Reporter