FNB makes banking more accessible for low income earners

FNB Namibia launched their new product at the 2011 Ongwediva Trade Fair recently. CardWise Zero and BankWise Zero are new introductions for clients of FNB Namibia older than 18 and earning up to N$1 500 per month. Madri Frewer, Marketing Manager at FNB Namibia, says that the bank has been working tirelessly on creating products for lower income earners, which guarantees them a bank account, but without the high banking fees. ?As always FNB has heeded the calls made by Government calling for banking products affordable to lower income earners with reduced fees so that their money is protected as far as possible.

The Cardwise Zero and Bankwise Zero product are aimed at people who do not earn a regular monthly income. ?The difference between regular Cardwise BankWise and Cardwise and BankWise Zero is that the account does not go dormant after only 3 months. We are very proud of the fact that FNB can now bank anyone,? Frewer added.

The new product has many benefits, including free funeral cover benefit, no monthly account fees, free inContact, free subscription to FNB?s Online Banking, free subscription to Cellphone Banking, free airtime purchase on FNB ATMs and via Cellphone Banking, reduced debit order and scheduled payment fees, free cash deposit up to N$1 500 per month, special reduced ATM withdrawal fees and special POS transaction fees. Frewer advised: ?In essence Cardwise and Bankwise will remain and we will at once introduce a Zero Monthly option, where regular and irregular income earners can now have a bank account, anyone can have a bank account, i.e get a zero monthly option but only on cardwise, bankwise.

We are excited about this and hope to, in this way, open the way for many more Namibians to ?own? their bank account.?