Last Updated on November 27, 2023 by Elidge Staff

Shocked Senior African Man Receiving FNB Namibia Global Receipts

Receiving FNB Namibia Global Receipts: An Easy and Convenient Way to Receive Funds from Abroad

Receiving funds from abroad can be a daunting task, but with FNB Namibia, it can be simple and straightforward. FNB Namibia global receipts service provides an easy and convenient way to receive money from abroad. Here’s what you need to know:

What You Get with FNB Namibia Global Receipts

An easy and convenient way to receive money from abroad, guaranteed
Up to 30 days to convert the funds into rands before the funds are sent back to the originating sender
InContact message once FNB has received your funds from abroad
Competitive fees
Available 24/7/365 via Online Banking
Payments are securely processed on the FNB electronic banking platform
Confirmation of your received payment will be emailed to you on completion
Ability to provide direct authorization to convert funds on your behalf at a competitive rate immediately if you receive these funds on a regular basis (standing instruction)

How FNB Namibia Global Receipts Works

Ensure that you know the reason for the funds being sent to you, for example, salary, pension or a gift, as this is required by Inland Revenue for reporting purposes.
Login to Online Banking or call the Forex Team on 061 299 2222.
Select the ‘Forex’ tab and choose ‘Global Payments.’
Choose between ‘Once-off Global Payment’ or ‘Recipients’ based on whether it’s a repeat payment or a first payment to a new recipient.
Provide all information required regarding your transaction, including beneficiary’s personal information and banking details, and select a reason for your payment.
Complete the transaction.

Balance of Payments Reporting (BoP)

As an authorized dealer in foreign exchange, FirstRand and its divisions (including RMB and FNB) are required to report cross-border customer transactions to Bank of Namibia. This system of reporting is called balance of payments reporting or BoP reporting for short. With FNB Namibia’s global receipts service, you can be assured that your cross-border transactions will be reported as required.

Getting Started with FNB Namibia’s Global Receipts Service

To qualify for FNB Namibia’s global receipts service, you will need:

An FNB Online Banking account
An FNB qualifying account

You can apply for FNB Namibia global receipts service in the following ways:

Call the Forex Advisory Team on 061 299 2222
Visit your nearest FNB branch
Apply on FNB Online Banking

Documentation Needed

To comply with all Bank of Namibia regulations, you will need to provide the necessary documentation for your cross-border payment. When capturing your payment online, you will be notified of what documentation is required when you select the reason for your payment. Alternatively, you can contact the Forex Advisory Team for assistance.

Overall, FNB Namibia global receipts service offers a simple and straightforward way to receive money from abroad with competitive fees, available 24/7/365 via Online Banking, and secure processing on the FNB electronic banking platform. With the ability to provide direct authorization for converting funds and BoP reporting guaranteed, this service is a reliable option for those needing to receive funds from abroad.

Frequently Asked Questions About FNB Namibia Global Receipts

What is FNB Namibia Global Payments?

FNB Namibia Global Payments is a service that allows FNB Namibia customers to receive and send money internationally.

What is the FNB Namibia SWIFT code?

The FNB Namibia SWIFT code is FIRNNANX.

How long do I have to convert funds received from abroad into rands?

You have up to 30 days to convert the funds into rands before the funds are sent back to the originating sender.

50 Euro banknotes will be converted when receiving FNB Namibia Global Receipts

What happens once I accept the rate for converting funds received from abroad?

Once you have accepted the rate, the funds will be credited into your Cheque Account.

How will I know if FNB Namibia has received my funds from abroad?

You will receive an inContact message once FNB has received your funds from abroad. Confirmation of your received payment will also be emailed to you on completion.

What is a standing instruction?

If you receive funds from abroad on a regular basis, you can provide FNB with direct authorization to convert these funds on your behalf at a competitive rate immediately. This is known as a standing instruction.

What is the process for sending money abroad using FNB Namibia Global Payments?

You can send money abroad using FNB Namibia Global Payments through Online Banking or by calling the Forex Team on 061 299 2222. When using Online Banking, select the ‘Forex’ tab, then ‘Global Payments’, and follow the prompts to complete the transaction.

What is balance of payments (BoP) reporting?

As an Authorized Dealer in foreign exchange, FirstRand and its divisions (including RMB and FNB) are required to report cross-border customer transactions to Bank of Namibia. This system of reporting is called balance of payments reporting or BoP reporting for short.

What are the qualifying criteria for FNB Namibia Global Receipts?

To qualify for FNB Namibia Global Receipts, you need to have an FNB qualifying account and be registered for FNB Online Banking.

What documents do I need to provide for FNB Namibia Global Payments?

The documentation required for FNB Namibia Global Payments will depend on the nature of the transaction when sending funds abroad. When capturing your payment online, you will be notified of what documentation is required when you select the reason for your payment. Alternatively, you can contact the Forex Advisory Team for assistance.