Bank Windhoek announces new value-based fee structure

Bank Windhoek will implement a revised banking fee structure effective, 1 July 2025. This adjustment responds to ongoing economic uncertainty and a projected inflation rate of4.5%. The moderate fee adjustment aims to maintain real value and service quality amid a challenging operating environment.This adjustment has been carefully considered to reflect current cost realities while remaining fair and responsible. The revised banking fee structure demonstrates the Bank's dedication to financial inclusion and commitment to supporting economic resilience in challenging times. It also encourages using cost-effective self-service and digital channels, empowering customers to manage their banking needs conveniently. This approach allows Bank Windhoek to continue providing value-driven services responsive to the needs of individuals and businesses.Optimised affordable digital banking experienceFree Access to Digital Channels: No monthly subscription fees for Internet Banking, the Bank Windhoek and Capricorn Private Wealth (CPW) Mobile App, Cellphone Banking and EasyWallettransactions. Complimentary AlertMe SMS Notifications: The AlertMe SMS service for all debit and credit transactions remains free. It helps customers stay informed about account activity and reducesthe risk of fraudulent transactions.Free Electronic Statements: Electronic statements are available at no cost, encouraging registering for this service to avoid charges associated with paper statements.Bank Confirmation letter: Customers no longer need to visit a branch to obtain a bank confirmation letter. They can request one from the comfort of their home, a strategic objectiveto enhance customer experience.The latest enhancements to the Mobile App and Internet Banking allow customers to generate personalised statements on the platforms. Early Redemption from Notice Deposit Accounts is now available to customers, a perfect feature for those needing swift access to their savings. Increased inclusivityFor the Bank's senior customers, there are no monthly service fees, point-of-sale transaction fees, or fees for external debit orders. A low cost applies to senior customers when accessingfunds over the counter, and their ATM withdrawals remain unchanged. Additionally, senior customers continue to benefit from favourable credit interest rates.To support the banking needs of unbanked individuals and low-income earners without regular income, most transactional service fees for the Basic Bank Account will remain unchanged forthe 2026 financial year. Point of sale transaction fees for the Solo account holders, a youth account for individuals below 18 years, stay free. Bank Windhoek will continue to offer studentsholding Namibia Students Financial Assistance Fund (NSFAF) accounts lower ATM withdrawal fees.The CPW bundle account remains attractive, allowing customers to perform various digital transactions. The composition of services included in the bundle fee remains unchanged.The new way of bankingBank Windhoek recognises that the future of banking is shaped by technology, with a strong focus on digitalisation and improving customer experience. In this case, Bank Windhoek isundertaking significant modernisation efforts to enhance its banking services, focusing on digital and mobile solutions. This initiative includes the renovation of branches to improve customerexperience and the introduction of Self-Banking Hubs. The Bank aims to provide 24-hour, seven-day-a-week services and has deployed various ATMs to facilitate secure transactions. Of theBank’s 54 branches, 13 have been renovated, while others will follow soon. The revamped branches comprise a seamless and modern space with the same exceptional client service team and a Self-Banking Hub that empowers customers to transact safely and securely. The Bank has deployed 47 Cash-Accepting ATMs, 11 Bulk Cash-Accepting ATMs, and29 Self-Service Kiosks countrywide. Customers are encouraged to visit the Bank's revamped branches to join it on the path toward a sustainable future in banking, where proactive servicesare delivered.The self-service banking machine allows customers to view or print statements, get a stamped Bank Confirmation Letter, view their balance, change their card PIN and manage card limits.Bulk Cash Accepting ATMs permit customers to deposit bulk cash into Transactional Accounts, deposit bulk cash into Savings Accounts, change their card PIN and get a Mini Statement. TheCash Accepting ATMs enable customers to deposit cash into Transactional and Savings Accounts, change their card PIN, get a Mini Statement, and withdraw cash and EasyWallet funds. In addition, Bank Windhoek ATMs are multi-lingual, allowing customers to interact in one of eight local languages.Educating and engaging customersAs a leading bank providing sustainable value to all stakeholders, Bank Windhoek continues to drive progress in communities and remains committed to educating and engaging customers.The bank has recently launched an online master class series aimed at SME customers and remains the only financial institution that has enabled local languages on its ATM to driveprogress. The Bank's annual fee review processes are a key component of this commitment, reflecting the Bank's ongoing efforts to build an authentic, dependable financial services brand.With ongoing cybersecurity concerns and efforts to empower consumers financially, Bank Windhoek has rolled out the “Your Bank Would Never” fraud campaign focused on combatingfraud and educating customers on preventative measures. The Bank's new fee structure will be visible in branches and agencies and is available at www.bankwindhoek.com.na. Customers can visit the Bank Windhoek website or contact the Bank's Customer Contact Centre at +264 61 299 1200.

Bank Windhoek announces new value-based fee structure

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Republikein 2025-10-14

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Bank Windhoek announces new value-based fee structure

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