Nedbank clients to monitor own bank charges

Lemohang Rakotsane

MASERU – NEDBANK Lesotho is launching a new banking system that will increase transparency on bank charges.

Nedbank Lesotho managing director Petrus Bouwer told a press conference on Friday that the new system will be installed next weekend.

The new system will put an end to clients’ frustrations about checking their balances and the charges they would have incurred.

“The bank charges will appear in real time reflecting as an individual item per transaction and clients will also be offered value added bundled options,” Bouwer said.

He added that clients will be able to see on their deposit slips, ATM slips and through electronic banking the transactions they were charged for and how much they were charged without having to wait for the end of the month to pay for everything else.

Transparency in bank charges is only a start, he said.

“The new banking system will allow Nedbank Lesotho to introduce new and innovative products and service offerings, such as mobile banking, payments and money transfer capabilities,” he said.

“With the new system, our client value position will be enhanced exponentially, setting us well on our quest to being the most admired bank in Lesotho,” Bouwer said.

He further indicated that transparency in bank charges will help clients manage their finances better because they will know exactly how much they have in their accounts.

The bank said all branches will be closed during this weekend to allow the installation of the system.

However all ATMs, and point of sale devices will still be operational.

Teboho Mhlanga, Head of Retail at Nedbank Lesotho, said they chose this weekend because they realised there is little traffic during those dates and customers will be able to access their services on Monday.

Mhlanga added that the new system comes with simplified narrations that will be easier for the client to understand.

He urged clients not to shy away from asking for clarifications and to use the call centre as another facility to get clarifications concerning their banking services.

Bouwer said the launch follows months of meticulous planning and extensive work behind the scenes to ensure a seamless transition to the new technologically advanced operating system.

The new system forms part of the Nedbank Group’s overall strategic investment of M660 million in total operations in the SADC region.

This new system will be launched in Lesotho after its successful implementation in Namibia and Swaziland. The bank also plans to introduce the system in Zimbabwe and Malawi.