FDH bank scraps off service fee charged to customers

One of the leading commercial banks in the country, FDH bank has scrapped off some of its service fee charged to customers.

The development comes barely days after some well-known banks in the country started hiking its service fee due to the introduction of VAT by the government.

FDH bank management has confirmed of the development in a statement made available to faceofmalawi.

“Transact for free!

“Bank like a champion with free bill payments on FDH Mobile. Yes, no fee on bill payments. Dial *525# to transact,” reads in part the statement.

The bank has also reduced some its fees on some services offered to its customers.

For instance, the bank has reduced the fee on ATS Inter-Bank Transfer from K18,500 to K11,600, ATS after 3PM from K39,000 to K17,500, Bank Cheque from K29,000 to K25,000 and special clearance from K98,500 to K85,000.

The bank has also deducted the fees on ATM pin reset from K2,200 to K1,165, mini-statement per page from K4,950 to K1,200. Account history from K5,900 to K2,300 and Mastercard Standard Renewal from K6,500 to K5,8850.