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Fees for Bank Windhoek Credit Cards
In this article, we will delve into the fees for Bank Windhoek Credit Cards. Understanding these fees will help you make informed decisions when it comes to managing your credit card usage. Let’s break down the different Bank Windhoek Credit Card Fees under various categories:
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1. First Issue of Card (Fees for Bank Windhoek Credit Cards)
- The first issue of the card is free, meaning you won’t be charged for obtaining the initial credit card.
2. Replacement of Lost/Damaged Card
- If your credit card is lost or damaged, Bank Windhoek charges a fee of N$239.21 for a replacement. This fee covers the processing and issuance of a new card.
3. Interest on Outstanding Balance (Fees for Bank Windhoek Credit Cards)
- Bank Windhoek offers an interest-free period of up to 55 days on your outstanding balance. This means that as long as you pay off your balance within 55 days, you won’t be charged any interest.
- After the interest-free period, the interest rate is determined by prime plus 5%. Prime refers to the prime lending rate set by the bank, and the 5% is added to that rate. It’s important to note that the interest rate will not exceed the maximum permissible rates according to the Usury Act.
4. Monthly Card Fee
- Bank Windhoek imposes a monthly card fee based on the type of credit card you hold. The following are the Bank Windhoek Credit Card Fees for different types of cards:
- Visa Gold Credit Card: N$50.37 per month.
- Visa Platinum Credit Card: N$86.34 per month.
5. ATM Cash Withdrawal Fees (Fees for Bank Windhoek Credit Cards)
- When you withdraw cash from an ATM using your Bank Windhoek Credit Card, there is a fee associated with it. The fee is calculated as N$11.60 per N$300.00, with a minimum fee of N$11.60 and a maximum fee of N$100.00. This means that the fee is a percentage of the amount you withdraw, with a cap on the maximum fee.
Understanding these fees for Bank Windhoek Credit Cards will help you manage your Credit more effectively. It’s important to consider these costs when using your credit card for various transactions to ensure they align with your financial goals and expectations.
Remember, using a credit card responsibly involves understanding the associated fees for Bank Windhoek Credit cards and making timely payments to avoid accruing unnecessary interest charges.
Frequently Asked Questions about Bank Windhoek Credit Card Fees
- Q: Is there a fee for obtaining my first Bank Windhoek Credit Card?
- A: No, the first issue of the card is free of charge.
- Q: How much does Bank Windhoek charge for a replacement if my credit card is lost or damaged?
- A: Bank Windhoek charges a fee of N$239.21 for a replacement credit card to cover processing and issuance.
- Q: What is the interest-free period for outstanding balances on Bank Windhoek Credit Cards?
- A: Bank Windhoek offers an interest-free period of up to 55 days. If you pay off your balance within this period, no interest will be charged.
- Q: How is the interest rate determined after the interest-free period ends?
- A: The interest rate is based on prime plus 5%. Prime refers to the prime lending rate set by the bank, and 5% is added to that rate. The interest rate will not exceed the maximum permissible rates according to the Usury Act.
- Q: How much is the monthly card fee for Bank Windhoek Credit Cards?
- A: The monthly card fee depends on the type of credit card you hold. For the Visa Gold Credit Card, the fee is N$50.37 per month, and for the Visa Platinum Credit Card, the fee is N$86.34 per month.
- Q: Is there a fee for ATM cash withdrawals with Bank Windhoek Credit Cards?
- A: Yes, there is a fee associated with ATM cash withdrawals. The fee is calculated as N$11.60 per N$300.00, with a minimum fee of N$11.60 and a maximum fee of N$100.00. The fee is a percentage of the withdrawal amount, with a maximum cap.
Remember, it’s important to review and understand these fees to effectively manage your Bank Windhoek Credit Card and make informed financial decisions.
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If you have more questions, look through our blog for answers!
