Bank Windhoek, Managing Director, Christo de Vries, has said the
decision to adjust the lending rates in line with the recent move
by the central bank increasing the repo rate by 0.25 basis points is
meant to give clients value for their money.
“Bank Windhoek supports the principle of transparency when
it comes to the charging of fees for products and services and
therefore we remain committed to disclose our fees and charges in a
transparent way and in accordance with the Code of Banking Practice
to which Bank Windhoek subscribes to. Furthermore, we aim to
give our clients the best advice on using their bank accounts as cost
effectively as possible, thereby assisting them to pay the lowest
possible fees for their day-to-day banking. As the financial partner
of our clients, we want our clients to make informed decisions
when managing their bank accounts and using our products and
services, as ultimately we aim to make banking easy, affordable
and accessible. We would therefore like to encourage our clients to
contact their Bank Windhoek branch, should they have an enquiry
related to the adjustment of their fees as a result of our annual
increase in fees”, said Christo de Vries.
Bank Windhoek applied a differentiated approach to the increase
of its fees effective from 1 July 2014. An inflation-linked increase
was applied to some of its fees, especially where staff and branch
infrastructure are involved, which comes at a significant cost to the
bank. As part of the Bank’s differentiated approach to fee increases
however, many services and transactions that have been offered free
of charge to our clients up to now, remain free of charge.
Bank Windhoek aims to offer convenient and accessible banking
services to our clients through our extensive national network of
branches, agencies, ATMs and other channels such as Cellophane
Banking, Internet Banking (EPaC) and its Point-of-Sale devices.
Despite the adjustments, Bank Windhoek’s clients with individual
savings and investment accounts continues to pay zero cash handling
fees for the first N$2000 deposited per month and offers businesses
with an annual turnover of N$1 million or less, free cash deposits for
the first N$10 000 that is deposited.
Bank Windhoek’s basic bank account (Easy Save) offers a range of
benefits making it the Bank’s most affordable transaction account for
low-income earners. Easy Save clients pay no monthly service fee,
no cash deposit fee and very low withdrawal fees. In addition they
receive Life Cover of N$5000.