NCSL banking on debit cards to keep members sorted

NASFUND Contribution and Loans Society (NCSL) is urging its 100,000 members to register for a debit card.
This is in preparation for the launch of its debit card and point-of-sale terminals by the end of the first quarter of this year.
General manager Vari Lahui said a debit card would be issued to each member when he or she applies for an NCSL transaction account.
“The application form for the transaction account will be made available this week on the Nasfund Contribution and Loans Society website,” he said.
Lahui said members with online access to the members’ portal would be able to download the form from the NCSL website ncsl.com.pg to complete and submit to [email protected] for processing.
An initial balance deposit of K10 is required to open the transaction account.
Lahui also encouraged members who had not registered for the online portal to register so they could be able to access the convenient services provided through the various electronic channels.
He said debit cards would greatly enhance accessing of funds by members, which was another development by NCSL in its mission to continue improving and providing an efficient and consistent service to its members.
Members are from both the private and public sectors.
Lahui said debit cards would be linked to members’ newly established transactional accounts, which would enable even quicker access to funds and doing purchases, as opposed to current practice of disbursing of funds to members’ accounts at commercial banks.
NCSL is looking to issue an initial batch of 50,000 debit cards by April and expects this to grow quickly.
The debit cards will be available nationwide, with the initial rollout planned for the regional centres of Port Moresby, Lae, Mt Hagen and Kokopo, followed by other provinces.