The Standard Bank Bizlaunch account has a standard functionality like that of the Standard Bank Business Current Account, however, the account comes with some added benefits such as more ATM withdrawals and cash deposits at a bundled price.
Since the Bizlaunch account is an upgrade from the Business Current account, the account comes at an increased rate with bundle options to choose from. Bundle options include the Bizlaunch option and the Bizlaunch Plus option.
The Bizlaunch and Bizlaunch Plus bundles, however, come with limited services. Because of this, Standard Bank has extra charges for out-of-bundle transactions and these are very important as they can affect your monthly service fee charges.
The Bizlaunch Account is lenient towards new clients with accounts less than 12 months functioning. By choosing the Bizlaunch bundle, you get to save R58.00 for your business on a month-to-month basis. After 12 months the monthly maintenance fee will increase to its original price.
The account offers free digital banking for account holders, therefore, clients can access cell phone, internet, and telephone banking for free. This allows account holders to manage their accounts effectively and efficiently remotely, making banking easier with Standard Bank.
Different forms of lending are permitted for Bizlaunch account holders. Credit cards are available for Bizlaunch account holders and come with 55 days interest-free settlement terms. Clients can get multiple company credit cards.
Standard Bank Bizlaunch Account is a cheque account that caters for the banking needs of businesses in different industries. Bizlaunch account comes in two variations, namely Bizlaunch Account and Bizlaunch Plus Account.
The Bizlaunch Account has two categories for charging monthly service fees. The charges depend on the number of months or years the business has held the account with Standard Bank. The first category is for a business with a Bizlaunch account that is less than 12 months and has a monthly service fee of R210.00.
The second category is for accounts that are older than 12 months, and have a monthly service fee of R268.00. Out of bundle charges are applicable to the Bizlaunch account.
For businesses that are looking for more transacting power, the best choice would be the Bizlaunch Plus account variant. This account option charges a higher monthly service fee of R596.00.
Fee Description | Bizlaunch Account | Bizlaunch Plus Account |
---|---|---|
Monthly maintenance fee | R210.00 for accounts less than 1 year, R268.00 for accounts older than 1 year | R596.00 |
Cash deposit at Standard Bank ATM | Free up to R50,000.00 then R9.00 per R1000.00 thereafter | Free up to R250,000.00 then R9.00 per R1000.00 thereafter |
Cash withdrawal at Standard Bank ATM | Free up to 5 withdrawals then R10.00 per R1000.00 thereafter | Free up to 10 withdrawals then R10.00 per R1000.00 thereafter |
Inter account transfers | Unlimited | Unlimited |
Debit order payments | 35 payments per month. Limited to 3 immediate paymentsOut of bundle fee: R18.50 | 80 payments per month. Limited to 3 immediate paymentsOut of bundle fee: R18.50 |
Card purchases | 35 payments per month. Limited to 3 immediate paymentsOut of bundle fee: R4.00 | 80 payments per month. Limited to 3 immediate payments Out of bundle fee:R4.00 |
Electronic account payments | 35 payments per month. Limited to 3 immediate paymentsOut of bundle fee: R7.00 | 80 payments per month. Limited to 3 immediate payments Out of bundle fee R7.00 |
Scheduled payment fee | Unlimited | Unlimited |
Account details verification fee (Standard Bank) | Unlimited | Unlimited |
Reverse debit order within 40 days | Unlimited | Unlimited |
Instant money transfer fee | Up to R500.00 = R8.00 R501.00 to R1000.00 = R10.50 Above R1000.00 = R12.50 | Up to R500.00 = R8.00 R501.00 to R1000.00 = R10.50 Above R1000.00 = R12.50 |
Prepaid airtime/data rate | R0.50 | R0.50 |
Prepaid electricity charge | R1.50 | R1.50 |
UCount for business membership fee | R365.00 per year | R365.00 per year |
My Updates via SMS | R0.50 | R0.50 |
Bizlaunch Business Account is suitable for those businesses that have a need to transact multiple times in a month.
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