To be the most successful financial institution in Malawi with a
visible presence in Southern Africa.

Mission Statement

To provide the best financial services in Malawi and the region, distinguished by outstanding service, product innovation and sustained earnings growth.

Service Charter

Service Charter

The ability of the banking industry to achieve the socioeconomic objectives and in the process bring more and more customers into its fold will ultimately depend on the satisfaction of the customers. We have a strong belief that a satisfied customer is the foremost factor in developing our business.

We felt a need at National Bank of Malawi (hereinafter referred to as the “the Bank”) that in order to become more customer friendly, the Bank should come out with a charter of its services for the customers. This document highlights the Bank’s commitment towards customer satisfaction, thus ensuring accountability and responsibility amongst our officials and staff. This charter for customers not only explains our commitment and responsibilities along with the redress but also specifies the obligations on the part of customers for healthy practices in customer-banker relationships.

We look forward to sharing with you a mutually beneficial and long term banking relationship.

  1. Display of business hours
  2. Rendering of courteous and speedy services
  3. Attention to all customers remaining in the Banking Hall at the close of business hours
  4. Provision of an ‘Enquiries Counter”
  5. Display of various rates for various deposit schemes and foreign exchange transactions from time to time
  6. Provision of details of various deposit schemes/services of the Bank
  7. Issuance of Demand Drafts, Cash Passports, American Express Cards, Visa Debit Cards, etc
  8. Display of turnaround times for various banking transactions/activities
  9. Display of complaint/suggestion box in the Service Centres Banking Halls
  10. Provision of clear directional signage inside and outside Banking Premises
  11. Provision of and clear display of Bank stationery for use by customers
  12. Provision of and display of product brochures in the Banking Hall
  13. Provision of requisite access and support to physically challenged customers

A customer should:

  1. Ensure safe custody of cheque books, cards, account number, FDR details and account statements.
  2. Not share phone banking/internet banking passwords and card PINS with others.
  3. Not sign blank cheques and also not record his/ her specimen signature either on the cheque book or any document left unguarded.
  4. Issue crossed/account payee cheques as far as possible.
  5. Ensure correctness of details of cheques issued i.e date, amount, payee, signature(s), etc.
  6. Not issue cheques(s) or payment instructions that are not provided for.
  7. Maintain required minimum account balances as specified by the Bank.
  8. Where personal delivery is not possible, send cheques and any other financial instruments to the Bank by Registered Post or Courier.
  9. Provide clear instructions to the Bank for requested services.
  10. Provide accurate information about name, address, telephone number, etc., and also inform change of address, telephone number, etc., to the Service Centre.
  11. Inform loss of demand draft, cheque leave(s)/book, bank cards, etc. immediately to the Bank.
  12. Pay interest, installments on overdrafts/loans and other dues on time.
  13. As far as possible utilize self-service channels such as ATM, Internet Banking, Phone Banking (MO626) etc offered by the Bank.
  14. Not introduce any person who is not personally known to them for the purpose of account opening.
  15. Not offer any assistance on ATM encashments and should not seek any assistance on ATM encashments if He/She does not know the person.
  16. Provide feedback on our products and services.

The Bank values the information provided by the customer at the time of opening the account. The Bank will not use this information without the customer’s knowledge. Should the Bank propose to use such information, consent of the accountholder/s shall be obtained.The bank shall not disclose details/particulars of the customer’saccount to a third person or party without the express orimplied consent from the customer unless it is obliged to doso by an order of a court of competent jurisdiction, a lawfullyauthorized person, body or entity under an Act of parliamentor in the public interest.

  1. The Bank will provide the customer with details of various types of accounts that the customer may open based on the customer‘s needs and requirements.
  2. The Bank will provide the customer with the account opening forms and other relevant material to enable opening of the account. Bank personnel will advise the customer on the complete details of information that would be required by the Bank for the verification process. The bank reserves the right, at its sole discretion, to open or decline any account and at such terms as the Bank may prescribe from time to time.
  3. The Bank will, prior to opening an account, require documentation and information as prescribed by the “Know Your Customer” (KYC) guidelines in line with regulations and or such other norms or procedures adopted by the Bank prior to opening the account.
  4. The due diligence process that the Bank would follow, will involve providing documentation, verifying the customer’s identity, verifying the address and information on the customer’s occupation or business and source of funds. As part of the due diligence process, the Bank may also require an introduction from a person acceptable to the Bank if they so deem necessary.
  5. In the event that the account opening process is likely to take longer than normal, the Bank will inform the customer of the revised timeline.
  6. Customers can also call the Service Centre Manager or the Account Relationship Manager for any queries that they may have and the Service Centre Manager/Account Relationship Manager will revert on the query at the earliest possible time.
  7. The Bank will provide various product details in brochures available in Service Centers. More information can be obtained in Services Centers and on the website: www.natbankmw.com
  8. The Bank will provide a statement of account to savings account, call deposits as well as current account customers at pre-decided intervals. These will be informed to the customer at the time of opening the account.
  9. Interest shall be paid to accounts (savings, current, call and term deposits) at the rate specified by the Bank from time to time.
  10. The Bank is required to deduct taxes at source if total interest paid/payable on all interest earning accounts held by a person reaches the threshold as specified under the income tax Act. The Bank will issue a Withholding Tax Certificate for the amount of tax deducted.
  11. The Bank will provide various services to customers for which service charges are levied. The charges are reviewed / revised from time to time and customers are notified of the changes.
  12. The Bank may accept stop payment instructions from the account holder in respect of cheques issued by them as per Bank’s policy. Charges, as specified, will be recovered.
  13. Accounts which have not operated for a predefined period of time will be transferred to a separate dormant/inoperative account status in the interest of the depositor. The accountholder can, after providing appropriate identification, claim funds from the Bank.
The Bank is committed to serve our valued customers fairly, consistently and promptly. The following are some of the Service Standards that the Bank is committed to when delivering services/products to customers:
a. Account Opening
Transaction/ Activity
Time Taken In Processing
1 Opening of account – personal Within 24 hours
Within 24 hours
2 Opening of account – Corporate Within 48 hours
Within 48 hours
3 Opening of fixed deposits
Within 12 hours
b. Granting of Credit Facilities
2 SME (Small to Medium Enterprises)
Within 3 working days
3 Corporate up to MK750 million
Within 5 working days
Corporate over MK750 million
Within 30 working days
b. Granting of Credit Facilities
2 Collection of customer account statement(s)
Within 5 minutes
3 Collection of cards and PINs
Within 7 working days
Creating/activating Internet Banking
Within 5 working days
Creating/activating Mobile Banking (Mo626ice)
Within 5 working days

At the Bank, we want to make sure that the customer gets only the very best of service from us, service which our valued customer deserves. If at any stage, the customer feels that our service levels are not up to expectations, here is what he/she can do :

Level 1*

Write a letter to the Manager of the Service Centre explaining the details of the complaint. He/She will receive a response within a period of 3 days of the Service Centre Manager receiving the letter.

Level 2*

If the customer is not satisfied with the response that he/she receives or if he/she does not hear from the Service Centre Manager in 4 days, he/she can escalate his/her complaint by writing to the address below :

The Head
Customer Service & Transactional Banking
National Bank of Malawi
P.O. Box 945

Level 3*

If the customer is not satisfied with the response that he/she receives from the Head, Customer Service and Transactional Banking or if he/she does not receive a response within 4 days, he/she may contact The Chief Executive Officer for a speedy investigation and fair resolution of the complaint. Please write to:

The Chief Executive Officer
National Bank of Malawi
P.O. Box 945

You will receive a response within a period of 5 working days of the Chief Executive Officer receiving your complaint. However, customers who have minor complaints/grievances which do not require to go through the levels above in regard to the services rendered by the bank have a right to approach the authority(ies) designated by the Bank for handling customer complaint/grievances. These authorities who are capable of resolving such minor complaints include all Bank Officials at all contact points for the Bank

*Please quote the reference number provided to you (if any) in your earlier interaction with us along with your account/visa card number to help us understand and speedily address your concern.

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