The Standard Bank Private Banking Account is a black debit card that comes with a personal private banker who is/are available 24/7 and also offers a bespoke wealth management. The Standard Bank Private Banking Account has a monthly account fee of R420.00.
To qualify for the account, one has to meet one of the following criteria:
The Standard Bank Private Bank Account Holders get access to a number of travel benefits and these include:
Account holders who choose the Standard Bank Private Banking account receive discounts and rewards. All of these benefits are listed below.
Service | Fees |
---|---|
Monthly Fees | |
Monthly fee | R420 |
Secondary account monthly fee | R210 |
UCount monthly fee | R25 |
Withdrawals | |
ATM (Standard Bank) | R2.40 per R100 or part thereof |
ATM (Other bank) | R2.40 per R100 or part thereof |
ATM (International) | R3 per R100 or part thereof (min R70) + 2.75% international transaction fee |
Branch | R80 + R3 per R100 or part thereof |
Deposits | |
ATM (Standard Bank) – Notes | R1.40 per R100 or part thereof |
ATM (Standard Bank) – Coin deposit | R80 + R15 per R100 or part thereof |
ATM (Other bank) – Notes and coin deposit | R80 + R3 per R100 (for notes) + R15 per R100 (for coins) or part thereof |
Transaction Fees | |
Inter-account transfers | Free |
Account payments | Free |
Immediate payments below R2,000 | R10 or 0.32% of value (min R345, max R1,730) |
Immediate payments R2,000 and above | R50 or 0.32% of value (min R345, max R1,730) |
Stop order – amend, establish, cancel | Free |
Overdraft Fees | |
Monthly service fee | R69 |
Initiation fee | R74.75 + 11.5% of limit (max R1,207) |
Card Transactions | |
Point of Sale Purchases | Free |
Withdrawal at retailer | Free |
Purchase with withdrawal at retailer | Free |
Garage card purchases | R25 |
International purchases | 2.75% of value |
POS decline | R8.50 |
Prepaids | |
Airtime | Free |
Airtime (other banks) | R15 |
Electricity | Free |
Lotto | R2.90 |
Voucher purchase | Free |
Other Fees | |
Pin reset | Free at ATM, R12 at Branch |
Card replacement | R160 |
Proof of banking | Free 1, then R7.50 |
Subsidy letter | R22 |
Notifications | |
MyUpdates | In-app Free, SMS 30c per sms |
Email payment notification | Free |
SMS payment notification requested | Free |
Scheduled payment monthly notification | R1 |
Instant Money | |
Create voucher using Instant Money Wallet | Below R500 R9.50, R500 to below R1,000 R13, R1,000 and above R16 |
Standard Trust Limited | |
Will drafting fee (STL as nominated executor) | Free |
Will drafting fee (STL not nominated executor) | R2,410 |
Estate planning consultation | R2,150 per hour |
Will safe custody annual fee | Free |
Unsuccessful/Disputed Transactions | |
Standard Bank ATM decline | Free |
Other bank ATM decline | R8.50 |
Stop payments | R2 – R80 |
Unpaid debit orders | First 3 free, then R130 each |
Unpaid stop orders | R130 |
Future dated | R130 |
Disputed debit orders under 40 days | Values under R500 R5, Values R500 to R1,000 R10, R50 |
Disputed debit orders between 40 and 180 days | R150 |
Honouring fee* | R100 |
Account users with a Standard Bank Private bank account have access to the world of investing and saving. The Standard bank private banking account provides you with the ability to invest and save money online. The account is also a step up from Standard Bank’s Prestige bank account, which offers additional services including wealth management and offshore investing.
You can also take use of value-added services like ‘Bespoke portfolio management on request by Melville Douglas,’ which helps you plan and counsel on your portfolio investment. You can plan for your future and the futures of your loved ones with this service. As a result, opening a private banking account may not be a bad idea, as you may take use of the account’s free consultation and private banking experience.
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