WINDHOEK – Bank Windhoek has 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 its branch and ATM infrastructure across the country, the cost of transporting and safeguarding cash and continuous investments in systems to ensure that 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,” said the managing director at Bank Windhoek, Baronice Hans.
“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 account holders have already had this benefit for a number of years,” Hans noted. Bank Windhoek says that as a consumer-centric organisation it will continue to invest in affordable and convenient banking solutions for its customers. As such, the bank’s extensive offering of services is complemented by a diverse variety of locally developed digital banking channels and is available through its national network of branches, agencies and ATMs.
As a co-creator of the Namibian Code of Banking Practice, Bank Windhoek says it embraces the principle of transparency when it comes to fees for products and services and is therefore committed to fully disclose these. Furthermore, the bank aims to give its 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,” said Hans.
She added: “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.”