Nations Trust Bank PLC’s Post

In today's interconnected world, sending money seamlessly across borders is more than just a transactional requirement; it’s a way of staying connected to friends and family, sharing experiences, and supporting those you care about - no matter the distance between you. To enable these types of global connections, Nedbank has partnered with Western Union to offer a state-of-the-art money transfer solution that allows people to send and receive money between more than 200 countries and territories quickly, affordably and reliably, through the Nedbank Money App and internet banking platform. Bishop Watkins, our Head of Forex and Global, explains more information about how Nedbank and Western Union global money transfers bring people together, no matter the distance.

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CHART OF THE WEEK: Comparison of Namibian bank charges For mobile wallet transfers, FNB effectively charges the lowest fees for transfers up to a value of NAD2,000. For transactions between NAD1,001 and NAD2,000, FNB charges NAD15.00 - half of the second-lowest fee of NAD30.00 charged by Standard Bank. Nedbank has the lowest range of fees in this category, ranging from NAD11.99 to NAD37.00 depending on the transaction value. On the other hand, Standard Bank has the highest range of fees, with charges ranging from NAD12.50 to NAD42.00 for mobile wallet transfers. For cash withdrawals at one's own bank's ATM, Standard Bank imposes the lowest withdrawal fees at NAD5.60 per NAD500, while Bank Windhoek charges the highest at NAD19.33 per NAD500 (though these banks do set a maximum threshold on the fees charged). Author: Hiren Naidoo

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In simpler terms, a serial payment refers to a series of payments that are made one after the other, often in a direct sequence. When a serial payment occurs, both the money being transferred (via wire transfer) and the accompanying payment message move together from the bank sending the money to the bank receiving the money. This movement can happen directly between the two banks involved or may involve one or more intermediary banks (such as correspondent banks) along the way. So, essentially, it's a step-by-step process where funds and information move from one financial institution to another until they reach their final destination. . . #WealthWisdom #SerialPayment #IIBF

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Credit card delinquencies are growing, especially among smaller banks. Community and regional banks don't have the same resources that the bigger banks do to manage these delinquencies, which can lead to them growing into a bigger problem. But, the solution isn't to give up on your credit card program. Partnering with TransFund can help you maximize the value of your credit card program and get the support you need to manage it. #CreditCard #CommunityBank #FinancialInstitution #TransFund https://lnkd.in/gABcNvfG

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Why pay to transfer when you can send money for FREE with Loma Bank? 🚀 It’s fast, easy, and always fee-free! Start making seamless transfers today! #FreeTransfers #LomaBank #SeamlessBanking #BankingMadeEasy #ZeroFees #TransferWithEase"

We’ve all been there. You need to pay someone who doesn't have a bank account, so you need to send an “eWallet.” But the bank you're sending money from isn't convenient for the recipient to withdraw from; the ATM isn't accessible to them. If only you could send an “eWallet” to any bank, right? That's why we built Khaya.money, a way for you to send money from your bank account to any “eWallet” service across all major South African banks. We are dedicated to making it easy for your loved ones to receive money. We are launching soon. Go to https://khaya.money to sign up for the waitlist, and you will be the first to get access when we go live. The countdown is on! #Fintech #MoneyTransfer #eWallet #SouthAfrica #KhayaMoney #Innovation #BankingSimplified