BSP stops Kundu account fee

BANK South Pacific (BSP) is no longer charging fees on its Kundu Standard account, says chief executive officer Robin Fleming.
“In the past, BSP has been charging K3 per customer as deposit fees,” he said.
“If you had a Kundu Standard card and swiped it in an Eftpos terminal, it would have been fee-free.
“We’ve recognised that not all the customers have cards, so a decision was made to remove the K3 deposit fee on Kundu Standard account.
“Now there is no longer a deposit fee charged to their Kundu Standard account and this should be well received by the customers.”
Fleming said they recently migrated a number of customers that had a Kundu Saver account to the Kundu Package account with a K9.50 monthly fee, or go into a Kundu Standard account which did not have a monthly fee.
Fleming said part of this year’s approach was to revisit customers if they were using accounts that best suited their transactional activity.
“We made a decision end of last month to waive off the K3 deposit fee for retail customers in the Kundu Standard account,” Fleming said.
“No more will they get charged with a K3 fee.
“The clear objective is to get cards into as many people’s hands as possible.”
Fleming urged BSP customers to make it their business to use the cards responsibly.
“Make sure they don’t give those cards to pay loans, or someone else to have their cards for illicit or unregulated activities,” he said.
Flemming said they had not increased their fees since 2014.