Standard Bank Makes Banking Affordable with Free Swipes and Free Withdrawals
Standard Bank Namibia has introduced a new pricing structure effective 1 January 2026, aimed at making banking simpler, more affordable, and more inclusive for all Namibians.
As part of this update, customers can now swipe for free and enjoy three free ATM withdrawals every month – a move designed to put more money back in the hands of Namibians while promoting convenient, secure banking.
“Our new pricing model is designed to make banking simpler and more affordable, while encouraging digital and card-based transactions. Free swipes and free withdrawals are just the start of our commitment to delivering value and convenience,” says Nolan Angermund, Personal and Private Banking Product Head at Standard Bank Namibia.
The changes also include significant fee reductions across digital channels, making everyday banking easier and more cost-effective.
Key Highlights of the 2026 Pricing Update:
- Free Swiping: All POS purchases are now free for Basic Bank Account holders, Senior Citizens, and bundle clients.
- Free ATM Withdrawals: First three ATM withdrawals at Standard Bank ATMs are free every month.
- 50% Cut on Digital Banking Fees: MyUpdate now N$6.25, EFTs down to N$9.20 (free on bundles), and inter-account transfers are FREE across ATM, Internet Banking, and App.
- Basic Bank Account Upgrades: Free POS, free debit orders, and free first three ATM withdrawals
- New Value Bundles: Titanium, Platinum, Young Professionals, and Private Banking options
- Blue Voucher Fee Reductions: Lower fees across all tiers
“Removing swipe fees and introducing free withdrawals encourages cashless, traceable transactions that are safer and more convenient. Over time, this will lower barriers to financial participation, especially for the unbanked and underbanked. At Standard Bank, we’re proud to set a new benchmark for affordability as part of our commitment to Unlocking Growth for all Namibians. While this is a significant step forward, we remain focused on going beyond price reductions by investing in innovation and solutions that truly drive financial inclusion and growth,” concluded Angermund.
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