Standard Bank Prestige Banking Account Review

Published by
Lethabo Ntsoane

The Prestige account from Standard Bank comes with personalised privileges that go beyond banking. As the name of the bank account suggests, the account offers high-quality banking.


Standard Bank doesn’t disappoint much when it comes to the Prestige bank account, even the bank card’s colour is black, a colour that is synonymous to private banking in the banking sector. 

The Prestige account is an ideal bank account for someone that aspires to climb the private banking ladder, that is, to end up having a private wealth bank account. You will however achieve this if your income increases and if you manage to take care of your credit health. 

Standard Bank Prestige account summary

The Prestige banking account is a private bank account that provides individuals with a gateway to private banking. The Prestige account comes with a low monthly service fee of R209.00 per month, which is very low for an entry-level black card. The account also requires applicants to earn at least R25,000.00 gross income per month. 


Account-holders get to enjoy many benefits that include 24/7 support from a dedicated private banker, online financial assistance, special interest rates and advisory on future planning. 

Standard Bank Prestige account benefits

  1. You get free bank statements emailed to you every month end.
  2. You get SMS notification with the Standard bank MyUpadate service which is free for Prestige bank account holders.
  3. Comes with unlimited transactions which include debit orders, electronic account payments, electronic inter-account payments and purchases.
  4. You can open additional accounts for your spouse and/or children.
  5. Access to all Standard Bank digital platforms at no additional cost.
  6. Free ATM deposits
  7. Free cash withdrawals of up to R10,000.00 per month at Standard Bank ATMs.
  8. You can withdraw cash at participating retailers for free.
  9. Access to a private banker that is available to you 24/7/365. Should your dedicated private banker be unavailable, you will be assigned with a temporary private banker.
  10. You get free basic travel insurance if you use your Prestige account to purchase an air ticket.
  11. You get free Forex delivery if you live or stay in Gauteng, KZN and/or Western Cape.
  12. As a prestige member, you get access to CaféBlue at OR Tambo International Airport once a month.
  13. You get your monthly account fees back by keeping a positive bank balance.

For an entry-level private banking account, the Prestige bank account comes with some of the most unimaginable benefits. Considering that the account only costs R209.00 to maintain every month, you will highly get your money’s worth with this account and even more. 


# fee descriptionOnline feesATM Fees
Monthly service feePay as you transact= R119.00Full suite= R209.00Pay as you transact= R119.00Full suite= R209.00
Cheque card feeR16.50R16.50
Standard Bank ATM withdrawal feeN/AFree up to R10.000.00 and R7.50 per R1000.00 thereafter
Withdrawal at other banks’ ATMs N/AR10.00 per R1000.00
International ATM withdrawal fee N/AR20.00 per R1000.00 plus international transaction fee (2.75%)
Cash deposit feeN/AFree up to R1,500.00 thereafter R9.00 per R1000.00
Account paymentsR1.20R1.20
Immediate payments below R3000.00 R10.00N/A
Immediate payments above R3000.00 R50.00N/A
Debit order payment feeR3.50N/A
Stop Order payment feeR1.20N/A
Instant money up to R500.00R8.00R8.00
Instant money between R501 – R1000.00R10.50R10.50
Instant money above R1000.00R12.50R12.50
Standard bank Prestige Account Fees Table

Standard bank Prestige bank account Rebate

# tierMinimum daily positive balance for the full calendar monthMaximum monthly rebate
1R10,000.00 – R19,999.00R86.00
2R20.000.00 – R29,999.00R127.00
3R30.000.00 – R49,999.00R227.00
4R50,000.00 – R99,999.00R283.00
5R100,000.00 and above R424.00
Standard bank Prestige Account Monthly Rebate Table

The rebate option is available for Prestige bank account holders. To qualify for a rebate you need to hold a certain amount of money on your Prestige bank account for a whole calendar month. Also, the amount needs to be more than R9,999.99 to qualify. 

The rebate is applicable to fees that you have incurred on your prestige bank account for ATM cash withdrawals, electronic inter-account transfers, electronic account payments, debit orders, cheques and cheque card purchases. Note that rebates hold a maximum amount per tier and you cannot claim a higher rebate than that you qualify for. 

Competitive Advantages of Standard bank Prestige bank account

  • Low monthly maintenance fee for a private banking account.
  • Access to a financial planner through an appointment.
  • You get freebies such as ATM withdrawals and usage of Standard bank digital platforms.
  • Access to CaféBlue lounge at OR Tambo International Airport.
  • Access to Forex that can be delivered to you if you live in a major city in South Africa.
  • The bank card (Titanium card) comes with automatic lost card protection.
  • The Titanium card has a secure chip and it is pin enabled.
  • It is a lot easier to get a Titanium credit card if you have a Prestige bank account.

Competitive Disadvantages of the Standard bank Prestige bank account

  • You pay for secondary accounts if you are an existing customer.
  • Has an International transaction fee of 2.75%, which is high.
  • You don’t get free access to the Standard bank rewards program. Other banks give their private bank account holders free access to their rewards program.
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How to qualify for the Standard bank Prestige bank account

  1. You need to be 18 years or older.
  2. Must have a South African ID card or book.
  3. Possess a proof of address that is not older than 3 months.
  4. Must have your latest payslip or proof of income. At least for the last 3 months.
  5. Earn a minimum of R25,000.00 in gross income per month.


The Standard bank Prestige bank account offers great and affordable ways to witness and understand private banking. The account comes with great banking benefits and opportunities to plan for your future and that of your immediate family. 

Standard Bank Prestige Banking Account Review
Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted at

Published by
Lethabo Ntsoane