The three new Personal Banking Customer Value Propositions, anchored by Private Banking, Kamogelo, and Youth Accounts, are part of the statutory bank’s ongoing transformation under the Lesedi 2025 Strategy. The strategy focuses on making banking simpler, fairer, and more rewarding for all income segments. BSB Chief Operations Officer, Wabo Moswate, said for the first time, BSB customers can now enjoy current accounts with no monthly management fees, tax-free interest, and free cash deposits, POS, and SMS transactions. He added that each account also comes with embedded protection and overdraft benefits, offering real value at zero cost. “We are giving customers more freedom, more control, and more peace of mind, without the extra charges that have become standard in banking. “At BSB, we believe your money should work for you, not against you,” Moswate said. According to the bank, the Private Banking account targets customers who earn P20,000 or more per month, and requires a minimum opening balance of P500. The account offers tax-free interest at 0.1% per annum and combines premium lifestyle benefits with practical day-to-day value, including no monthly account management fees, free cash deposits, POS purchases, and SMS transactions. Additionally, it provides an embedded overdraft limit of P1,000 for emergencies, fiduciary services worth P20,000 for wills, trusts, and estate planning, personal accident cover worth P10,000, and household all-risks cover worth P7,500. It also permits two airport lounge visits per year for the account holder and guests, a platinum debit card, a dedicated Relationship Manager, and full digital banking access. On the other hand, the Kamogelo account is designed for middle-income earners, salaried employees, small business owners, and families, with a minimum balance of P100 and tax-free interest at 0.1% per annum. It offers no monthly account management fees, free cash deposits, POS purchases, and SMS transactions, along with an embedded overdraft limit of P500 for emergencies. ‘Customers also receive legal services worth P20,000 (non-litigation), personal accident cover worth P10,000, household contents cover worth P5,000, a gold debit card, and full digital banking access, providing reliable, protective, and affordable banking for everyday financial needs at no extra cost,’ the bank stated. Meanwhile, the Youth Account targets students, interns, and young professionals, requiring a minimum opening balance of P50 and offering up to two percent tax-free interest per annum. It includes no monthly account management fees, free cash deposits, POS purchases, and SMS transactions, a youth debit card for secure daily use, and 24/7 access via mobile, internet, and 232# USSD banking. The account is designed to encourage saving and responsible money management from an early age. “As a statutory bank, our role has always been to promote financial inclusion,” Moswate said. “With these new transactional accounts, we are now unlocking empowerment, giving Batswana banking that fits their lifestyle, protects their future, and rewards their loyalty.” He emphasised that the launch reflects the objectives of the Lesedi 2022–2025 Strategic Plan, which aims to transform BSB into a fully-fledged Botswana-owned commercial bank with diversified products and solutions. “The Personal Private Banking Proposition Launch is a true testament to that promise,” he said.
