BSP annouces 50pc cut on fees for mobile banking, Eftpos withdrawal

BANK South Pacific Financial Group Ltd (BSP) has announced a reduction on service charge and fees on mobile banking EasiPay TopUp and Eftpos withdrawal by 50 per cent to enable even further affordable access for its customers.
As of last Friday, BSP customers will now benefit from the reduced service charge on EasiPay TopUp from 50 toea to 25 toea and branch Eftpos withdrawal from K4 to K2.
Both reductions have been made to encourage greater utilisation of digital channels, which provide greater convenience and cost effectiveness. Chief executive officer Robin Fleming said BSP had not increased its fees since 2014 and had reduced many of its fees over that time.
“BSP has foregone in excess of K50 million in fees annually as result of its fee-reduction initiatives,” Fleming said. “The bank decided not to increase costs and reduce fees and ensure customers are provided with a cost-effective product that suits them.” BSP group general manager for retail Daniel Faunt said BSP had its fee free Kundu accounts available to its customers since 2012.
“The Kundu standard account does not carry a monthly fee and customers only get charged for what transactions they may do,” Flaunt said. “The Kundu package accounts provides the customer to access an unlimited range of services for a monthly fee of K9.50.”