Staff Writer
Standard Bank Namibia has introduced a new pricing structure aimed at making banking more affordable and accessible, effective 1 January 2026.
Under the new model, customers can make point-of-sale (POS) purchases for free and receive three free ATM withdrawals per month.
The bank said the changes are intended to lower banking costs and encourage secure, card-based transactions.
Nolan Angermund, Personal and Private Banking Product Head at Standard Bank Namibia, said the initiative forms part of the bank’s wider effort to simplify banking and promote financial inclusion.
“Free swipes and free withdrawals are just the start of our commitment to delivering value and convenience,” Angermund said.
The 2026 pricing updates include free POS transactions for basic bank account holders, senior citizens and bundle clients. Customers also receive three free ATM withdrawals per month at Standard Bank ATMs.
Digital banking fees have been reduced, with MyUpdate charges lowered to N$6.25 and electronic funds transfer fees reduced to N$9.20, while EFTs remain free on bundled accounts. Inter-account transfers are now free across ATMs, internet banking and the mobile app.
Basic Bank Account upgrades include free POS transactions, free debit orders and three free ATM withdrawals per month.
The bank has also introduced new value bundles, including Titanium, Platinum, Young Professionals and Private Banking options. Blue Voucher fees have been reduced across all tiers.
Angermund said the changes are designed to promote cashless and traceable transactions, which are safer and more convenient, while reducing barriers for the unbanked and underbanked. He added that alongside lower fees, the bank continues to invest in innovations to support financial inclusion and growth across Namibia.
Caption
Nolan Angermund
