NBM VISA DEBIT CARD

The National Bank of Malawi Visa Debit card is a new bank card which customers will use for the following services:

• Purchasing goods and services on a Visa branded Point of sale (POS) terminal, such as groceries, clothing, music, sports goods, take aways, furniture, and many more items.
• Withdrawing cash at ATMs

Additionally the Vsa Classic, Gold and Platinum will also act as cheque guarantee cards and identification cards.

The new NBM Visa Debit Cards will eventually replace the existing ATM card.

Product Range

The following type of card is available:

• NBM Visa Electron

The following cards are yet to be launched:

• NBM Visa Classic
• NBM Visa Gold
• NBM Visa Platinumm

Benefits

• Fast transactions - no need to count cash or start verifying cheques with supervisors at any pay point.
• Secure and guaranteed means of payment - all transactions are online.
• Reduces employee theft - no cash transactions involved.
• Business likely to increase - impulse purchases by customers. Researsh has shown that customers spend more when they pay using a card.
• Bank deposits and day end balancing made simple - not much cash to count and balance. Money electronically transferred to merchants' accounts and therefore not necessary to engage security companies for Cash In Transit services (cost reduction).
• Low cost of insurance - cash is not kept at retail sites in both tills and office sites.
• Staff/labour costs - reduction of overtime arising from counting of cash at the close of business.
• Reduced cash holding - no interest is lost as a result of cash floats at retail sites and cash left unbanked at the end of the day.

Point of Sale (POS) Terminals & POS Management and Maintenance

National Bank of Malawi will deploy POS terminals to merchants. The POS terminals will bear the National Bank of Malawi as well as Visa logos.

POS terminal management and maintenance will be done by an agent of the Bank who will carry out general maintenance and support, provede tallies and any other ancillaries. All queries should be routed through this number 80000 900.

Accepting the card from customer

1. After input of all purchases for the customer, the card will be swiped or inserted into the POS device
2. Cashier will then request the customer to input his/her Personal Identification Number (PIN) on the POS device.
3. The transaction will then be authorised by the Bank.
4. Where there is insufficient money in the account to meet the value of the purchase, the transaction will be declined by the Bank.
5. Where necessary, voice authoriastion may be required to process customer's purchases.
6. When a transaction is authorised, the cashier will hand over the card and the till slip to the customer.

Voice Authorisation & Floor Limit

This is a procedure where the merchant calls National Bank Call Centre No. 80000 900 in case of of difficulties with transactions for the the premium card customers (Classic, Gold and Platinum)

A floor limit is a pre-authorised amount which a cardholder spend without verifying with the Bank. The floor limits only apply to premium cards and vary from card to card and shall be decided by the Bank from time to time.

Settlement

Settlement for National Bank cardholder transaction is one business day while other banks is three business days.

Enquiries

All enquiries should be directed to the Call Cantre on toll free number 80000 900, which is also available at the back of the Classic, Gold and Platinum cards. The Call Centre operates from 8.00 am to 8.00 pm daily.

Also enquiries can be directed to NBM Call centre on telephone number 01 831 485 or email callcentre@natbankmw.com

NBM Visa debit card, the safe & convenient way to pay