#JustIn: Deadline looms for cross-border ETF payments
The Bank of Namibia (BoN) has reminded the public that, from the end of this month, electronic fund transfers (EFT) between Namibia and South Africa, Lesotho and Eswatini will no longer be possible.
Effective 30 September, these transactions will be treated as international transactions.
“Key changes include the treatment of cross-border EFT transactions within the CMA, which will now be conducted through the SWIFT network.
Additionally, debit order deductions to and from South Africa will no longer be possible, and customers are advised to arrange alternative payment methods,” BoN said in a statement.
The speed and costs of cross-border payments will be regulated to ensure minimal disruption to customers, the central bank said.
Effective 30 September, these transactions will be treated as international transactions.
“Key changes include the treatment of cross-border EFT transactions within the CMA, which will now be conducted through the SWIFT network.
Additionally, debit order deductions to and from South Africa will no longer be possible, and customers are advised to arrange alternative payment methods,” BoN said in a statement.
The speed and costs of cross-border payments will be regulated to ensure minimal disruption to customers, the central bank said.
