The Lesotho PostBank commits to protect personal data by restricting access by authorized personnel, providing secure data storage facilities, and incorporating security measures into equipment in which data is held. Encryption technology is employed for sensitive data transmission.
If the Lesotho PostBank engages third-party data processors to handle or process personal data on its behalf, the Lesotho PostBank undertakes to adopt contractual or other means to prevent unauthorized or accidental access, processing, erasure, loss, or use of the data transferred to the data processors for processing.
In addition, the bank has introduced One Time Password (OTP) as an additional second-factor authentication for financial and sensitive transactions performed on the Mobile Banking Application. OTP is a five-digit numerical code sent in real-time as SMS to your registered mobile number while performing the transaction and is auto-read by the Mobile Application.
OTP is mandatory for authorizing the following transactions:
Funds transfers between own bank and other banks
Alert profile change
Manage Security Questions
If you receive an OTP without initiating any transaction online, please call our Customer Banking Support on +266 80099920 or 22317842 immediately to disable your Mobile Banking access till the matter is investigated and resolved. If the OTP is incorrect, the transaction will be declined.
Pay to Contacts (P2C) service Terms and Conditions:
Lesotho PostBank is a retail banking institution that serves the unbanked and underbanked economically active urban and rural population who do not have access to financial services in a sustainable manner.
Initially, the Government of Lesotho (GoL) had a bank i.e. the Lesotho Bank. However, when that bank was privatized, several rurally located branches were closed because they were not profitable enough for private sector interests. The government found it necessary to set up a bank that would cater for the unbanked and underbanked populace without primary regard for profitability concerns.
The Bank was set up as a company to have separate legal personality and a degree of independence from government interference, although it would be a wholly state-owned enterprise. The Bank would benefit from a board of directors, who would oversee the Bank more directly with skilled and experienced supervision. The Bank would also be required to be audited by rotating external auditors as opposed to exclusive auditing by the Auditor-General.
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