1 February 2013

Namibia: Bank Asks Clients to Rather Use Atms

Windhoek — Standard Bank Katutura branch is asking its clients to use cheaper electronic channels such as ATMs for withdrawing smaller amounts of cash.

The bank has noted that the majority of its clients still use the over-the-counter service to withdraw amounts between N$500 and N$1000, which attract significant transaction fees when withdrawn over the counter compared to ATM withdrawal.

A cash withdrawal at an ATM costs only N$5.10 compared to an over-the-counter transaction that costs N$37.00 in bank charges.

"Since the 1st of January this year, we took it upon ourselves to reduce the long queues in the bank by giving customers the cheaper option of withdrawing money outside the bank at the ATMs," said the bank's Katutura branch manager Lasarus Shikongo.

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