NamPay

FREQUENTLY ASKED QUESTIONS

What is Namibia’s new electronic fund transfer (EFT) system?

The new national EFT system is called NamPay. Following a decision taken by the Bank of Namibia, the Payment Association of Namibia (PAN) in partnership with the banking institutions and suppliers, a new enhanced EFT system is being introduced into the Namibian financial sector. This system will comprise of three new payment streams. They are enhanced debit orders (EnDO), enhanced credit payments (EnCR) and near-real-time credit payment (NRTC) that will transform electronic fund transfers in Namibia.

Why is NamPay being introduced?

The Bank of Namibia issued a Payment System Directive (PSD7), in accordance with which an enhanced electronic fund transfer system has been implemented. Introducing NamPay aims to ensure that Namibia and its national payment system remains on par with international standards.

How will NamPay impact me?

What is EnDO?

EnDO is an abbreviation that refers to electronic "enhanced debit orders". The current debit order system will be replaced by an enhanced collections process, called EnDO.

The most prominent feature of NamPay would be that debit orders will no longer be deducted from clients’ accounts in a specific, predetermined prioritised order. NamPay will assign random sequences to debit orders submitted for collection in the national payment system. This means that your debit orders will be deducted from your bank account in a different order every month.

What are the key features of EnDO?

• Debit orders will be *presented for collection against the client’s account three times during the day. (At 06h00, 10h00 and 15h00 on weekdays and at 06h00 and 10h00 on Saturdays). Should the first (or any) attempt to collect funds from the client’s account be successful, the debit order is not presented for collection again.
• If there are insufficient funds in the account at the times that the debit order is presented, the debit order will not be successful, irrespective of the end of day balance on account.
• Debit orders which are not honoured on the due date, due to insufficient funds in the client’s account will incur a fee which will only be charged once. The unpaid fee charged for unsuccessful debit orders is 1.5 % (percent) of the debit order amount, with a minimum of N$ 39 and maximum of N$200 as per the Bank of Namibia regulation.
• To avoid incurring fees due to an unsuccessful debit order that is a result of there being insufficient funds in the account, the client should ensure that there are sufficient funds in their account, by 14h30 (2:30pm) on weekdays and 9h30 (9:30am) on Saturdays.
• It is important to note that the debit order amount which is not successful due to insufficient funds available in the account, will not reflect on a customer statement, however the statement will indicate the fee amount charged for an unsuccessful debit order.
• During the changeover period, the client may still notice some changes related to unsuccessful debit orders on the bank statement, however, once the NamPay system is fully implemented, statements will only reflect debit orders that have been paid successfully.
• The debit order mandate date is not affected by ENDO.
• In the event that a debit order is unsuccessful on the debit order mandate date, collectors may then choose to activate Credit Tracking. This is the continuous checking of available funds on the clients’ account over consecutive days. Credit Tracking can be done continuously for up to 14 days. Credit Tracking only stops once funds are added to the account within the 14 days, or once the 14 day Credit Tracking period has lapsed. Credit Tracking will not exceed 14 days. Fees will not be charged for Credit Tracking. 

* 'Presented' here means: An attempt by the bank to collect the debit order against the client's account.

What is credit tracking?

Service providers may choose to activate credit checking. Credit tracking is the continuous checking of funds on your account in the event that the debit order amount was not deducted from your bank account due to insufficient funds. Service providers may choose to check your account continuously for up to 14 days - the checking period may be shorter but it will not be longer than 14 days.

What are the new terms & conditions?

The new enhanced EFT system resulted in changes to the terms and conditions between the bank and its customers. To ensure that all the changes and impacts on the customers are duly considered in terms of Nedbank’s commitment to superior customer service, the terms and conditions have been updated. Kindly click on the link below for the new terms and conditions. Follow the Terms and Conditions tab to find the new Nedbank terms and conditions.

What is EnCR?

Payments made to beneficiaries at local banks by Nedbank customers through the Nedbank online banking or mobile app will operate over EnCR service. EnCR payments are processed between banks as received between 04h00 and daily cut off time of 14h00 on weekdays and 09h00 on Saturdays. Due to more frequent settlements between domestic banks during the day, EnCR payments will reflect on the customer's account on the same day. Please note that the fee charged for initiating a payment from a Nedbank channel remains unchanged, please visit the Nedbank Namibia website for pricing.  

What is NRTC?

In addition to the EnCR payment stream, immediate payments (NRTC) will be introduced.

The NRTC payment stream enables a consumer to transfer funds in real-time to any of their beneficiaries within the same business day. NRTC payments are processed between banks as received between 04h00 and daily cut off times of 16h00 on weekdays and 11h00 on Saturdays, and will reflect within one minute (60 seconds) on the customer account. Please note that there are related fees applicable to this service, please visit the Nedbank Namibia website for pricing (see below when available).

When will NRTC service be available?

Although NamPay went live with ENDO and ENCR, the NRTC streams will be activated during June/July 2021,date to be confirmed.