Bank of Namibia Releases December 2025 Fees Comparison Report to Boost Financial Inclusion

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 Cash@Till. 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.

The report also highlights strategic financial inclusion initiatives. A national awareness campaign launched in August 2025 promotes digital financial literacy, accompanied by a new booklet guiding citizens on banking and payments. Additionally, the BoN is developing a national Instant Payment System (IPS), expected in 2026, to enhance digital transactions’ speed and inclusivity. Namibia’s leadership in financial inclusion was further underscored by hosting the 2025 AFI Global Policy Forum, which brought together over 700 global regulators to discuss inclusive financial policies.

Finally, the BoN encourages consumers to leverage its Comparison Banking Services Tool online, allowing users to assess fees across banks and adopt cost-effective digital payment methods. This initiative strengthens consumer decision-making while supporting the government’s broader goal of an inclusive and accessible financial sector for all Namibians.