Current Press Releases
January 20, 2006
Dear Valued Clients and Potential Customers
Nedbank Globus System Migration
Nedbank Namibia hereby wishes to inform all our valued clients and potential customers about the following imperative changes and features affected during the migration to a new system for improved benefits to you all.
Current Account
- Current system - tiered pricing on cash deposits and cheques
New system - Percentage pricing with a minimum and maximum and NO PRICE INCREASE
- New system generated account number for life
- No need to inform your stop order or debit order beneficiaries of your new account number. The system retains the old account number as a reference
- No need to order new account number ranged cheque books, immediately. You can use your current cheque book, until you need a fresh book, which will bear the new account number
- You can transact to and from your South African Nedbank account, real-time now
In accordance with the Bank of Namibia regulations, you may not transact freely in this manner. Your transaction will be done overnight for same day value
- You draw cash from your bank account at an ATM in South Africa
Functionality as is
- Your Nedbank South Africa bank accounts form part of your Internet Banking profile
Nedbank South Africa bank accounts will no longer be allowed to form part of your profile. You can load it as a beneficiary
- Your statements are mailed to you, via the local postal service, often resulting in delays
Statements can be e-mailed to you, in any format, as frequently as you require
- You cannot use your ATM card at a retailer
Your ATM card will be replaced with a Debit Card/Visa Electron card, which can be used at an ATM and for purchasing goods and services
Savings Accounts
- Current system - tiered pricing on cash deposits and withdrawals
New system - Percentage pricing with a minimum and maximum and NO PRICE INCREASE
- New system generated account number for life
- No need to inform your stop order or debit order beneficiaries of your new account number. The system retains the old account number as a reference
- You can transact to and from your South African Nedbank account, real-time now
In accordance with the Bank of Namibia regulations, you may not transact freely in this manner. Your transaction will be done overnight for same day value
- You draw cash from your bank account at an ATM in South Africa
Functionality as is
- Your Nedbank South Africa bank accounts form part of your Internet Banking profile
Nedbank South Africa bank accounts will no longer be allowed to form part of your profile. You can load it as a beneficiary
- Your statements are mailed to you, via the local postal service, often resulting in delays
Statements can be e-mailed to you, in any format, as frequently as you require
- You cannot use your ATM card at a retailer
Your ATM card will be replaced with a Debit Card/Visa Electron card, which can be used at an ATM and for purchasing goods and services
Investment Accounts
- No change in features and benefits
Internet Banking
- The look and feel of your Internet Banking page is based on Nedbank South Africa
The look and feel will be attuned to local requirements and called NedbankOnline
- You cannot view all your deposit and loan accounts with Nedbank Namibia on Internet Banking profile
You will be able to view your current account, home loan account, instalment finance account and investment account, allowing you to transact freely across all of them, via NedbankOnline
- You can view your Credit Card statement on your Internet banking profile
You will not be able to view your Credit Card statement on NedbankOnline
- You can credit your Credit Card account on your Internet banking profile
You will not be able to credit your Credit Card account on NedbankOnline
- You view historical information on your bank account, via Internet Banking
You will not be able to view transactions on your bank account, pre the date the new system goes live. Your branch will have a dedicated "old system" terminal, hosting these transactions.
For further information please contact your respective relationship managers or personal bankers who are readily available to provide you with more information on Nedbank Namibia's migration process. You can also contact us at +264 (61) 295 9111 for assistance.
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