Monday, January 18, 2021

Standard Chartered warns competitors, launches free interbank ATM usage

Standard Chartered Bank Botswana has launched exciting services to make banking more affordable and convenient for their customers by allowing their customers to withdraw cash from other Banks ATMs in Botswana free, expanded their call centre to enable 24 hour service, and a product to give people 100 percent financing for home purchase.

“As the leading financial institution in Botswana, we are once again leading the way in making banking more affordable and more convenient to our retail banking clients by introducing the facility to allow our customers to withdraw cash from other banks’ ATM’s up to four times a month at no cost,” Michael Wiegand, Head of Consumer Banking Southern Africa, said. “The bank is committed to improving the livelihood of its customers by providing products and services such as home loans, savings products and mobile banking solutions.”

He said the new service will help their customers access to their current account anytime, anywhere in Botswana for free, including in areas where Standard Chartered Bank is present.

“In the past, customers had to pay withdrawing cash from other banks’ ATMs thus increasing the monthly fees, by removing this charge for up to four transactions in a month; the customers will realize significant savings on bank charges which they could channel to other uses,” he said.

Standard Chartered Bank customers had free access to 54 ATMs; they now have access to hundreds of ATMs across Botswana for free.

Additionally, from December 2011 the bank extended operating hours for the customer call center to provide full service 24 hours a day.

“The bank is committed to enhancing service delivery channels for the convenience of customers,” said Wiegand.

He said it is the bank’s philosophy to provide responsive, innovative, creative and tailored financial solutions to all customers. The bank also launched a number of market leading initiatives which include offering service guarantees and extended banking hours to allow customers to do banking at their convenience including Sundays.

“We offer instant, 24 hour a day access to emergency funds through our salary advance product and now offer 24 hour-a-day service through our call center,” he said.

Further, the bank has introduced a combination of mortgage and personal loan that will enable customers to finance 100 percent of the purchase price of a new home. “We understand that many of our customers have not had the opportunity to save for a down payment yet they want a house. This product enables qualified customers to get financing for 100 percent of the purchase price.
Wiegand said the unique combination of a mortgage and personal loan helps them pay down a portion of their loan quickly, reducing their overall debt level.

“This will help Batswana invest in their future through the purchase of a home,” he said.

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