PNG Insight Blog

Two BSP products

1. Kundu Package Account

Monthly fee charged K9.50
Mobile top-up K0.50
Esi-Pei Top-up K0.50
Airline Ticket payment Mobile Banking K2.50
No Teller Service fee
Majority of transactions are free

2. Kundu Standard Account

Mobile Banking Transactions K0.50
Eftpos transactions K0.25
Airline Ticket purchase Mobile Banking K2.50
Withdrawal with a teller K4.00
Withdrawal (ATM) K0.50
Withdrawal (another Bank ATM) K2.50
No monthly fee
No deposit fee
No dormant fee
Charges per other transaction

Perhaps it is important to note that BSP had responded to the sentiments shared about the different fees it passed onto customers, both past and present. The point here is that any BSP customer must be aware of the different fees charged by their bank.

And, appreciate the fact that they are actually paying certain amount of money from their bank accounts when they are performing a transaction.

Some ten secondary and high schools in Milne Bay Province have unanimously decided to end term two prematurely this week, after no tuition fee funds have reached the province this term.

News source: NBC News Milne Bay/Facebook

A Headmaster’s group meeting held this week saw a general consensus to hold board meetings for this decision to be effected within this week.

Chairman of Milne Bay’s Principals & Headmasters Group Ishamel Aurere was frank, he says they’ve operated without funds the entire term and especially for boarding schools, they are now in the red.

“Especially in terms of sustaining the boarding part of schools, because most of us are boarding institutions. Up until now, we have not heard anything on TFF for this term and it's the only area schools depend on for their operations so as we come towards end of term two, no word on TFF from national Government.

It is very unlikely for schools to hold on until the end of the term. Our deliberations last week ended with the advice each school should return to hold emergency board meetings to effect this decision or to come up with alternatives to hold on."

He says expenses however are not all boarding student rations based, schools had overhead costs such as electricity and water for town based schools and general operations that needs funds for.

He says the decision was unanimous.

“All the schools have not received their component of TFF up to last week so we do not know as to each school's situation and we've given them these options but it's likely most of them will see a premature end to the term".

He says school heads have been reminded to keep within proper channels so it’s likely they will hold emergency board meetings early next week to effect the early shutdown of classes for term two.

Six secondary schools and four high schools in Milne Bay will be affected.

These include Cameron, Hagita, Holy Name, Watuluma, Misima and Wesley Secondary Schools and Suau, Cape Vogel, Kiriwina and Kuiaro High Schools.

This does not include primary schools but it’s highly they are also in the same boat.

Cameron Secondary School in the heart of Alotau when contacted this morning confirms they officially sent off students today.

They were finishing off with tests and exam paper corrections today, before being sent off for possibly a months' term holiday, classes to resume third week of July.

Principal Edward Malona reveals, "Teachers here however will take only a week's leave and will be spending three weeks to put in place strategies for catch up work for classes missed as they've just completed their term exams."

We sought comments from local Education Advsior Roma Tuidam who tells us the matter has been brought to the department by Alotau MP Charles Abel who reveals, Education Secretary Dr Uke Kombra has advised him they’ve received an initial K25 million and this will be disbursed to high and secondary schools this week, however they are in need of a further K80 million for all schools.

Source: Facebook/NBC Milne Bay

BSP Service Fee Charges Clarified - Updated

A few years ago Bank of South Pacific (BSP) had ~12 transactions/service fees that were passed onto customers to pay. This was recently posted on by The Sun (15 June 2019) Facebook page. At the time of this post, the BSP Service Fees on Facebook received 111 comments and 182 shares.

BSP SERVICE FEES

Changes to Fees/year

Here is the response from the BSP CEO

Two BSP products

2019 Second Quarter TFF Grant of K105 Million Not Released to Schools 2 Weeks Before Qtr Ends

Some ten secondary and high schools in Milne Bay Province have unanimously decided to end term two prematurely this week, after no tuition fee funds have reached the province this term.