17 August 2017

Lesotho: Nedbank Launches Premium Products

Nedbank Lesotho has unveiled the Private Banking Bundle and Middle Market Bundle products to better respond to the personalised needs of its private and middle class clients.

The two products were unveiled to the media on Tuesday this week.

The Private Banking Bundle gives clients access to dedicated private relationship managers, free internet banking, payments and transfers, point of sale purchases, free ATM transactions and free SMS notifications.

The product which carries a monthly management fee of M219 is available to cheque account holders who earn M30 000 or more per month.

The Middle Market Bundle offering, also called Savvy Plus, is available to cheque account holders earning M3 000 per month or more.

It is designed for clients who perform most of their banking electronically including card-based transactions. It serves as an alternative to the current pay-as-you- use cheque account.

For a monthly fee of M109, clients will have access to internet subscription fees, payments and transfers, point of sale purchases, first 5 Nedbank ATM cash withdrawals and debit orders.

Speaking at the launch, Nedbank Lesotho's Managing Director, PJ Bouwer, said the products were designed to ensure the bank remained competitive in the market.

He said the offerings came in the aftermath of the upgrades to the bank's core system that were undertaken last year.

"We are pleased to bring these new bundled products that offer value for money for our clients while simplifying their banking by also providing alternative electronic and self-service banking solutions," Mr Bouwer said.

"Many of the transactional needs of our customers such as ATM transactions, point of sale (POS) purchases, and internet banking are free within the bundles, for a one-monthly price/fee.

"The new Private Banking Bundle gives clients free unlimited electronic banking on Nedbank ATMs, internet banking, POS, and new Nedbank App, plus free debit orders, all for M219.00 per month.

"The Savvy Plus is an enhanced current account for middle market clients earning above M3 000 that gives them a number of free transactions that are aligned to their typical needs and usage in a month for a fixed fee of M109."

He said Nedbank would unveil more products and "the year ahead is going to be an exciting one for our customers and the Lesotho market".

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