First National Bank, Bank BIC and Bank Windhoek were the most affordable banks overall for basic banking services in Namibia in December 2025, according to the Bank of Namibia Banking Fees and Charges Comparison Report.
The assessment compared fees charged on Basic Bank Accounts (BBAs) by seven banks across the most commonly used transaction types during December 2025. These included card payments, cash withdrawals, electronic funds transfers, digital wallet services, cross-border Common Monetary Area transactions and exchange control application fees.
The central bank noted that all banks are required to offer BBAs that meet minimum standards under the Payment System Management Act, 2023.
For card payments at point-of-sale terminals, FNB ranked as the most affordable, charging no fee per transaction. Bank BIC followed at N$3.00, while Bank Windhoek charged N$4.50. Letshego Bank Namibia charged N$4.70, Standard Bank Namibia N$5.00 and Nedbank Namibia N$6.00, making Nedbank the most expensive in this category.
On cash withdrawals at own-bank ATMs, Bank BIC ranked first, allowing unlimited free withdrawals beyond the three free monthly withdrawals required by regulation. Bank Windhoek ranked second, charging N$10.00 after the free withdrawals. FNB ranked third at N$14.50 per N$500 withdrawn. Standard Bank charged N$2.70 per N$100, subject to a minimum of N$13.50, while Nedbank charged 3% of the withdrawal value.
Withdrawals at another bank’s ATM are regulated and capped at N$35.00. Bank BIC, Bank Windhoek, FNB, Nedbank and Standard Bank all applied the standard regulated fee of N$7.20 plus N$13.70 per N$500 withdrawn, capped at N$35.00. Letshego ranked last, applying tiered fees that reached the cap at lower withdrawal values.
In-branch cash withdrawals were the most expensive transaction across all banks. Bank BIC was the most affordable at N$7.50 per withdrawal, followed by Atlantico at N$30.00.
Bank Windhoek, FNB, Letshego, Nedbank and Standard Bank charged significantly higher percentage-based or tiered fees.
Electronic funds transfer fees further separated the banks.
For intrabank debit orders, Bank BIC, Bank Windhoek and Standard Bank charged no fees, ranking joint first.
FNB charged N$2.00, while Letshego, Atlantico and Nedbank charged between N$9.41 and N$17.00.
For interbank debit orders, Bank BIC, Bank Windhoek and Standard Bank again charged no fees, compared with charges of up to N$32.00 at Nedbank.
For third-party EFT payments via mobile banking applications, Bank BIC ranked first by offering the service free of charge.
FNB followed at N$5.00, with Letshego charging N$5.85. Bank Windhoek, Nedbank and Standard Bank charged between N$13.00 and N$15.50. On USSD-based EFT payments, Letshego and Nedbank charged N$4.70, followed by FNB at N$5.00.
Digital wallet services showed FNB and Bank BIC among the lowest-cost providers, particularly for smaller transaction values and value-added services.
Standard Bank offered free ATM cash-outs but charged higher fees for sending larger-value transfers.
