The Standard Business Credit Card is available for any type of business, from small businesses to large corporations. The credit card offers amazing travel perks and discounts when used to make payments.
Credit on the Standard Bank Business credit is tailored to each individual client. Credit card holders can request credit limit increases on their cards at any time. The business credit card also includes a relationship manager for free assistance.
The Standard Bank Business Credit Card includes free access to the bank’s digital platforms. Credit card holders can use a mobile app, internet banking, or mobile banking to access their credit cards.
Standard Bank Business Credit has many free complimentary benefits and transactions and services that charge a fee. All of these charges and benefits are discussed in detail below.
Standard Bank Business Credit Card Summary
The Standard Bank Business Credit Card is a business credit card with a monthly fee of R45.00 that is available to startups, franchises, small businesses, and established businesses. To activate the credit card, a one-time fee of R291.00 is required.
Credit cardholders must pay a monthly minimum repayment of 5% of the total outstanding credit. The credit card provides interest-free credit for the first 55 days of use and then charges a fee.
Following the opening of the credit card, a business credit card that is 3D secure and can be used online is issued. The issued credit card includes tap-to-pay functionality for in-store purchases of R500.00 or less.
The business credit card can be linked to the SnapScan or Masterpass apps to pay using a mobile phone. Moreover, the credit card can be used at over a million merchants and ATMs worldwide. The credit card is accepted at over 900 000 ATMs worldwide and over 30 million merchants worldwide.
The Standard Bank Business Credit Card provides travel discounts, with credit card holders receiving up to 20% off Emirates flight tickets. There is also an automatic travel insurance cover of up to R2 million when purchasing travel tickets with the credit card.
Aside from free services and discounts, the Standard Bank Business Credit card also charges fees for services and transactions. We cover all the fees that the Standard Bank Business Credit card incurs below.
Standard Bank Business Credit Card fees 2023
| Fee Description | Amount |
|---|---|
| Monthly credit card fee | R45.00 |
| Once off initiation fee | R291.00 |
| Standard Bank branch withdrawal fee | R80.00 + R2.50 per R100.00 thereafter |
| Standard Bank ATM withdrawal fee | R2.20 per R100.00 |
| Withdrawal at other bank’s ATMs | R2.20 per R100.00 |
| Cash withdrawal at Point Of Sale | R2.00 |
| International ATM Cash withdrawal fee | 2.75% of value + R3.00 per R100.00 (Min:R70) |
| Standard Bank ATM deposit fee | R4.50 + R1.10 per R100.00 |
| Standard Bank branch deposit fee | R8.00 + R2.00 per R100.00 (Min:R60) |
| Electronic Account Payment | R7.95 |
| Electronic inter account transfers | Free |
| Branch inter account transfers | R100.00 |
| Branch account payment | R100.00 + 0.104% |
| Auto plus ATM statements | Free |
| Branch statements | R32.00 |
| Transaction history statement fee | Free |
| Standard Bank ATM balance enquiry | Free |
| Standard Bank branch balance enquiry | R9.50 |
| Balance enquiry at other bank’s ATM | Free |
| International conversion fee | 2.75% |
| Card replacement fee | R145.00 |
| Emergency card replacement fee | R450.00 |
| Local voucher retrieval | R85.00 |
| International voucher retrieval | R275.00 |
Advantages of the Standard Bank Business Credit card
- Can link the credit card to SnapScan.
- The credit card has a tap-to-pay functionality.
- Can send instant money to any mobile number in South Africa.
- Credit card holders can join the Ucount rewards for business for R30.00 per month which allows credit card holders to earn points when using the credit card.
- The credit card comes with free lost card protection.
- There is advanced fraud protection on the credit card.
- The credit card comes with 55 days of interest-free credit.
- Credit card holders get discounts on selected flight ticket purchases.
- Travel insurance is made available when you buy an air ticket with the credit card.
Disadvantages of the Standard Bank credit card
- Enrollment in the rewards program comes at a fee which is offered for free by other banks for a business credit card.
- The international conversion rate of 2.75% is high when compared to the standard charge of 2% for the same service.
Requirements of the Standard Bank Business Credit card
- Must be a registered business.
- Have a valid South African ID book or Smart card.
- The company representative must be over the age of 18 at the time of application.
- Proof of company address that is not older than 3 months at the time of application.
- The company must have been in operation for at least 24 months.
Conclusion
The Standard Bank Business Credit Card gives any type of business access to cash flow when it is needed. The credit card can be used to cover any business expense. When conducting business with partners or employees who must travel, a credit card is an excellent choice because it provides numerous travel benefits.
Enrolling in the UCount rewards program is advantageous for credit card holders because it allows them to earn points that can be redeemed. A minor disadvantage is that enrollment in the UCount program is fee-based, so one must start from a negative( since you pay a subscription fee) before earning points.
