Standard Bank reduces banking fees for 2019

20 Dec 2018 13:30pm
WINDHOEK, 20 DEC (NAMPA) – Pensioners will no longer pay monthly management fees for their accounts with Standard Bank as from the beginning of 2019.
The bank said in a media statement on Thursday the reduction would come into effect as from 01 January 2019 as part of its annual price review, while it has also introduced interest payment on positive current account balances held by pensioners
The bank has in addition reduced its point-of-sale fees by 17 per cent to allow its clients to save on transactional costs and its electronic transaction fees on its internet banking platform by 30 per cent.
Head of Marketing, Communications and CSI, Magreth Mengo said in a statement issued Thursday, the annual pricing review was in line with its customer-centric approach, which is committed to providing access to affordable banking services.
“We will not be increasing electronic banking fees for our retail clients on internet banking, cellphone banking and the Standard Bank application,” she stated.
Head of Personal and Business Banking, Mercia Geises was quoted in the statement as saying “It makes no sense to dig a deeper hole for a customer who is already finding it difficult to catch their breath.”