First National Bank Botswana (FNBB) has increased its in-branch service fees by three percent effective March 4, 2019, following regulatory approval.
The bank, which is the country’s largest by volume of customers and balance sheet, however reduced its fees on digital services, in some cases. According to FNBB’s communications and public relations manager Boga Chilinde-Masebu, the new fees were guided by several factors amongst them inflationary adjustment.
“The in-branch services were slightly increased while certain digital channels were significantly reduced and, in some cases, offered for free to encourage customers to switch to digital platforms and self-service,” she said. Chilinde-Masebu said the adjustment was implemented across various FNBB products and services with the aim to encourage customers to swipe and use digital platforms provided by the bank instead of using cash.
The new pricing structure introduced free swipes for personal current accounts to encourage customers to swipe as a safer and cheaper way of transacting instead of using cash. She further said FNBB introduced the Cashback loyalty programme that rewards customers with cash paid into their Savings Pocket for saving,
“FNBB has noted several customer comments and feedback on different social media platforms about its service and bank charges,” she said.
“We would like to assure all our customers that their feedback has been noted and being used to better our service.” Chilinde-Masebu said the new adjustments have also been communicated to the public and to customers through the FNB website and the bank’s branch network across the country.
In addition, she said the information is made available to customers to enable them to make informed decisions on which banking channels to use, according to their preferences.
“FNBB has also installed Wi-Fi at all 24 branches, specifically to encourage customers to register for online banking, download the FNB App and perform transactions they would ordinarily do in-branch through digital channels,” she said.