Bank Windhoek this week announced its new fee structure, effective Friday, 1 July 2022.

The fee structure considers the current economic outlook, compounded by the lingering effects of the COVID-19 pandemic. The new fee structure focuses on achieving: Where possible, free, or affordable banking; multi-Channel availability, and convenience.

According to the bank, there will be no monthly subscription fees for internet banking, mobile app, and cellphone banking, to reduce customers' reliance on branches and to encourage them to use alternative digital services.

Airtime purchases utilizing the new Bank Windhoek Mobile App will continue to be free of bank charges, AlertMe SMS notifications for debit and credit transactions remain free of charge, the bank added, explaining that the service empowers the bank's customers to be informed of all activities on their accounts, reducing the risk of losses due to fraudulent activities.

"Electronic statements are free, and customers are encouraged to register to save money on printed monthly statements. The free first issue of Debit/Credit Card. Free mini-Statement on Cellphone Banking. - Notice of irregularity, unsuccessful debit order and deferment fees remain unchanged. This concession is made to help already strained customers. No data is required for use of Mobile App, these data costs are borne by the Bank," they added.

Bank Windhoek Managing Director, Baronice Hans said, "Our digital banking services continue to offer customers the convenience to conduct their banking 24 hours a day, seven days a week. These digital channels also allow our clients the opportunity to reduce their bank charges by how they choose to transact."

Bank Windhoek's new fee structure is visible in its branches and agencies, and available on the website at www.bankwindhoek.com.na. The overall average increase has been contained to 6.2% in line with current inflation.