Malawi bank rolls out internet banking

The bank has however gone a step further as its newly introduced facility includes inter-bank internet transactions including money transfer.

“This will enable our customers to access their accounts and pay for their utility bills just at a click of a button,” said MD Charles Mudiwa.

He said this is an online product which is a modern way of banking which has freed its clientele from the bondage of banking hours since it offers them an opportunity to choose their own banking hours wherever they may be.

“Customers will be expected to register for the service at any branch and soon after this process they will be required to pay a monthly fee of K300 regardless of the number of transactions involved,” explained Mudiwa.

The Bank's officials said the facility has been a huge success in a number of countries where the bank also operates.

“Customers need not to lose sleep about the safety of their money as they are well protected by the system,” said the bank's Sales Service and Products Manager Charity Mughogho.

Security measures before customers can start accessing the facility will include having a valid identity card and a mobile phone.

While announcing the good news, the bank also issued a warning…

Head of Corporate Banking William Le Roux warned customers not to respond to any e-mails requiring them to provide their banking details saying the bank will not be asking customers about such information through emails.

“If customers keep their information safe the network is never penetrated from any front because our system is up to date and backed up by international and local information technology experts,” said Le Roux.