Namibians to pay more, wait longer for SA EFT transactions

NAMPA

2024-09-04

WINDHOEK, 04 September 2024 - Bank of Namibia Principal Economist for Payments Policy Research and Analyis, Henock Shilongo. (Photo: Contributed)

WINDHOEK, 04 SEP (NAMPA) – Namibians intending to send money to South Africa through electronic fund transfers will have to pay more bank charges and wait longer for the money to reflect.
This follows a decision by the Common Monetary Area (CMA) regulators to discontinue processing electronic fund transfer (EFT) payments and collections within the CMA, effective 09 September 2024.
The Bank of Namibia (BoN) has, however, extended the date to 30...

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