The Bank of Namibia BoN has published its December 2025 Banking Fees and Charges Comparison Report, a key initiative aimed at improving transparency and promoting financial inclusion nationwide. The report comes amid notable regulatory reforms and market-wide fee adjustments designed to make banking more affordable and accessible to all Namibians. By providing a clear comparison of fees across institutions, the report empowers consumers to make informed financial decisions.
Several regulatory developments underpin these changes. Under the Payment System Management Act of 2023, the BoN introduced directives such as Basic Bank Account BBA Standards, ensuring all banks offer accessible and affordable accounts Interchange Rates and ATM Fees, regulating charges for "off-us" ATM withdrawals and a directive for e-money interoperability, aimed at fully integrating digital and traditional banking payment streams by 2025. These measures are designed to standardize services and reduce unnecessary costs for consumers.
In response, major banks have implemented significant fee reductions. Standard Bank Namibia lowered everyday banking fees and offered free inter-account transfers effective January 2026. FNB Namibia eliminated charges on all local card swipes and reduced fees on alternative channels like CashTill. Bank Windhoek revised its fee structure to remove monthly service and point-of-sale fees for senior customers. These moves reflect a broader commitment to equitable financial access and cost efficiency.
