Regulatory Alerts2025-12-24
Bank of Namibia Determination on Standards for Fees and Charges for Payment Services (PSD-10)
The Bank of Namibia issued PSD-10 to establish mandatory standards for fees, charges, and the Basic Bank Account for all payment service providers in Namibia. The regulation caps specific transaction costs, mandates free cash deposits for individuals and small businesses, and requires banking institutions to offer affordable Basic Bank Accounts to low-income earners. It further enforces consumer protection measures, including transparent disclosure, prohibition of erroneous transaction fees, and strict governance requirements for pricing philosophies.
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