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Offshore banking opportunity for Batswana

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Offshore banking opportunity for Batswana
Boitumelo Mogopa

 

Located in Guernsey, in the English Channel, the First National Bank Channel Islands offers Batswana the opportunity to save and transact in a number of currencies, namely Pound Sterling, US Dollar and Euro.

“We live in a global world where we find ourselves doing businesses in offshore markets, so this product offers an opportunity for you to take charge of your foreign exchange cash flow needs and return expectations,” explained First National Bank Botswana (FNBB), Director-Retail Boitumelo Mogopa.

For the majority of people whose children attend schools and live outside the country, school fees and monetary support is given in foreign currency.

With the portfolio, clients receive a chip and pin master card debit card that enables transacting or swiping when travelling internationally without incurring foreign currency fluctuations.

The Pula is pegged to all the three currencies, and therefore what happens in these markets, has an effect of how pula value changes overtime.

“Our savings vehicles cater for various client requirements, ranging from immediate access call accounts to longer term fixes. By international standards, our interest rates are highly competitive too,” added Solutions Strategies FNB International, Nikita Preston.

The portfolio provides customers with the same online banking look and feel that FNB offers. Transactions can be facilitated via Online Banking or the Service Suite. Clients are also able to transact with the FNB Channel Islands online banking platform as well as interact with their dedicated Channel Islands Service Suite.

FirstRand Bank Limited Guernsey Branch trading as FNB Channel Islands is regulated by The Guernsey Financial Services Commission and licensed under The Banking Supervision (Bailiwick of Guernsey) Law, 1994.