BSP cutting Eftpos fees

Bank South Pacific (BSP)’s kundu standard account customers will not be charged any fees at Eftpos terminals for purchases less than K25.00, group retail general manager Daniel Faunt says.
He said with purchases over K26.00, the service fee of K0.25t will apply. The decision was effective yesterday.
Faunt said the change would enable cheaper transactions for BSP’s Kundu standard customers.
“It will then save time and money,” he said.
“As more goods and services are purchased in stores using various electronic channels such as Eftpos providing a cheap and convenient payment option will encourage customers in paying for goods at the store and withdrawing cash at the checkout using the Eftpos terminal without BSP charges, rather than withdrawing cash from an ATM.”
He said earlier that BSP had reduced Eftpos branch withdrawal fees to K2 and the fees on mobile top-ups and will continue to make banking more accessible, cheaper and safer for its customers through its products, electronic channels and extensive network of branches across PNG.
Eftpos transaction on BSP’s kundu package account are fee free with an all up monthly fee of K9.50 that allows for unlimited Eftpos, ATM and branch transactions.
While providing more affordable banking products and services, BSP also offers fee-free accounts with competitive interest rates which includes its plus saver account, Sumatin Account and Kids Savings account.