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The Standard Bank (sum)1 Bank Account is a safe, easy and educational introduction to banking. It…
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The Standard Bank (sum)1 Bank Account is a safe, easy and educational introduction to banking. It is designed for children and young achievers under the age of 16.
The Standard Bank (sum)1 Bank Account allows you to bank from your cell phone via Internet banking and Standard Bank’s mobile App. There are no fees for prepaid airtime recharges and free MyUpdates by SMS or email. You will also receive a free debit card. The (sum)1 Account gives you unlimited swipes at retail stores. You will get 8 free electronic debit transactions per month excluding debit orders and 2 free Standard Bank ATM withdrawals and deposits per month. Furthermore, you will get unlimited transfers to any Standard Bank savings and investment account and 1 free branch cash deposit per month. The Standard Bank (sum)1 Account has a 50% discount on TravelWallet fees and you can link the account to a parent or guardian’s account.
To qualify, you need to be no older than 16 and a South African citizen. You will need to present your ID book, your parent/guardian and their ID book and proof of your home address which can be up to three months old.
The Standard Bank (sum)1 Bank Account is perfect to introduce your child into the banking world.
Benefits:
| Monthly Fee | 0.00 |
|---|---|
| Account Type | Standard Fee |
| Monthly transactions included | Unlimited |
| Interest | 0% |
| Age Requirement | 0-16 |
|---|---|
| Minimum Monthly Salary | 0.00 |
| Minimum Monthly Balance | R20.00 |
| Minimum Opening Deposit | R20.00 |
| Cheque Deposit Branch | R25.00 |
|---|---|
| Cheque Deposit ATM | R20.00 |
| Cash Deposit Branch | R11.00 + 1.25% |
| Cash Deposit ATM | 4 Free, R4.00 + 1.25% thereafter |
| Branch counter | R33.00 + 1.35% |
|---|---|
| Own Bank ATM | 2 Free, R4.00 + 1.15% thereafter |
| Other Bank ATM | R10.70 + 1.15% thereafter |
| Point Of Sale/Till | R5.00 |
| Overseas ATM | R10.70 + 1.15% thereafter |
| POS (Point Of Sale) - local | 8 Free, R25.00 thereafter |
|---|---|
| POS - Overseas | 8 Free, R25.00 thereafter |
| Prepaid | R0.00 online |
| ATM | 8 Free |
|---|---|
| Branch Counter | R33.00 |
| Internet | R0.00 |
| Cellphone | R0.00 |
| Telephone Advisor | R33.00 |
| Internal Debit Orders | R4.00 |
|---|---|
| External Debit Orders | R12.50 |
| Stop Orders | R0.00 |
| ATM | R0.00 |
|---|---|
| Branch Counter | R33.00 |
| Internet | R0.00 |
| Cellphone | R0.00 |
| Phone Advisor | R33.00 |
| ATM | R0.00 |
|---|---|
| At Other Bank ATM | R5.00 |
| Branch counter | R5.00 |
| POS | R0.00 |
| Overseas ATM/POS | R5.00 |
| Internet, Cellphone | R0.00 |
| Telephone Advisor | R6.50 |
| Branch | R6.50 |
|---|---|
| ATM | R0.00 |
| Bank cheque/marked cheque | R85.00 |
|---|---|
| Stop payments | R45.00 |
| Stop order | R0.00 |
| Special clearance | R100.00 |
| Debit Card replacement | R50.00 |
| Cheque Card replacement | R125.00 |
| New Cheque Card | R0.00 |
| Overdraft ledger | NA |
|---|---|
| Dishonoured / returned payment | R115.00 |
| Notice of payment | R0.00 |
Unlimited swipes at retail stores. 8 free electronic debit transactions per month (excluding debit orders). 2 free Standard Bank ATM withdrawals and deposits per month. Unlimited transfers to any Standard Bank savings and investment account. 1 free branch cash deposit per month. Free balance enquiries when you call *120*2345#
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