There is good news for those with bundled accounts at Standard Bank. The South African banking giant recently stated that bundled fees will remain at R59 a month, and on the Elite Plus account, they will remain at R95 a month. Good news indeed for Standard Bank customers.
When we speak of ‘bundled’ products, we are referring to products which incorporate internet, telephone and cellphone banking and e-statements, card purchases and SMS notifications.
According to the Solidarity Research Institute, this Elite Plus account proved to be the cheapest deal offered by the ‘big four’ banks around South Africa for middle income earners.
Although these bundled accounts are staying the same, Standard Bank is increasing other transaction charges, while keeping its increases for personal banking customers below the current inflation rate of 4.7 percent.
According to Kabelo Makeke, the head of customer financial solutions for retail banking, the majority of Standard Bank clients will not see increases on the products they use, although pricing increases have in fact been carefully considered. She says that clients should make use of digital products to further reduce their fees.
Because cash withdrawals are free at till points, customers should make use of this more as opposed to withdrawing cash from ATM’s where fees apply.
Find out more about Standard Bank’s products with LikeMoney:
Standard Bank is a leading financial services organization found in South Africa. They focus on building the leading Africa-focused financial services organization using their competitive advantage to the full. They have been operating for the last 150 years and offer a variety of financial services.
Find out more about their amazing investment and other banking products when you use LikeMoney’s comparative platform to weigh up your options and find the best solution for your needs.
You can also find out more about other bundled products and compare rates.