The Standard Bank is a well-known financial institution. A private account is a bank account for people who want to improve their social standing. This account is for those who are making the transition from middle to upper class and are thinking about putting their money away. The types of benefits available to private banking account holders demonstrate this. These services include wealth management and offshore investing, which are primarily for those who have money left over after paying their bills.
Standard Bank’s Private Banking account is arguably the most popular bank account in the company’s private banking category. The account comes with a slew of extra perks that far outweigh those offered by the Standard bank Prestige bank account.
Standard Bank Private Account is a high-end private bank account with a monthly fee of R369.00. If you have net investable assets of less than R3,000,000.00, you are not eligible for a Private Banking account. The Standard Bank Private account includes a free personal banker. You also get Standard Bank financial advice and offshore savings and investment options. You also gain access to one of the most educated estate planning teams, helping you leave a legacy. Estate planning is free, but if you want a more thorough plan, you will have to pay for it. A will costs R2,250.00, and an estate planning consultation costs R2,250.00.
|# fee description||Online fee||ATM fee|
|Monthly account fee||R369.00||R369.00|
|Standard Bank ATM withdrawal fee||N/A||Free|
|Other bank withdrawal fee||N/A||R10.00 per R1000.00|
|International withdrawal fee||N/A||R20.00 per R1000.00 plus 2.75% transaction fee|
|Cash deposit fee||N/A||Free up to R10,000.00 and R9.00 per R1,000.00 thereafter.|
|Immediate payments below R3000.00||R10.00||N/A|
|Immediate payments above R3000.00||R50.00||N/A|
|Instant money wallet||R5.00||R5.00|
|Point of sale purchases||Free||N/A|
|Point of sale cashback||N/A||Free|
|Instant money up to R500.00||R8.00||R8.00|
|Instant money between R501.00 to R1000.00||R10.50||R10.50|
|Point of sale garage card purchases||R7.00||Free|
|Instant money above R1000.00||R12.50||R12.50|
|Email payment notification||R1.10||N/A|
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.