BSB launches ATM machines and debit card

Botswana Savings Bank (BSB) was urged to modernise all its savings including savings book which has been around for a while as this will help it be at par with competitors in terms of technology and having customers spoiled for choice.

Minister of Transport and Communications Tshenolo Mabeo said this at the launch of the bank’s first-ever Automated Teller Machines (ATM) and debit card is an effort to reach out to the unbanked population estimated at 55percent.

“This development shows innovation and growth, it shows that as an indigenous bank we are spoiling our customers with choice and this is a plan for financial inclusion, with the rate at which the bank is growing even in terms of profit from 2011 to 2015 profits have increased from P4 million to P 20 million” said Mabeo

He emphasised that the majority of urban and peri-urban populations are generally catered for by commercial banks while the majority of the rural population remains unbanked. This he said should change as the majority of the BSB market is in rural areas. The new ATM channels provide customers convenience; access to their accounts 24/7 and more points by using their cards at any visa branded machine.

BSB has a total of four ATMs three machines in Gaborone - two at BSB head office and one at Rail Park Mall and the other at BSB Francistown Branch. Plans to open branches in Mahalapye and Serowe complete with ATM channels, more villages will be covered as the Bank reaches out to its rural coverage. The bank is to submit an application to operate as a commercial bank to Bank of Botswana before the end of the year, Mabeo told parliament recently.