Secure solutions working hard for you
Standard Bank offers a range of cash management solutions customised to meet our clients’ specific account management, payments, collections and liquidity management requirements, both domestically and internationally. Our solutions are designed to help both our business and our corporate customers manage their working capital requirements more effectively and efficiently.
This is who we are:
- Standard Bank is the market leader in electronic payments and collections in South Africa, and has been named the best bank in electronic banking in the country by research house BMI TechKnowledge every year since 1993.
- Our online applications offer a range of solutions including foreign exchange dealing, international and domestic payments, custody communications and trade in Africa and South America.
- Robust account management processes help our clients manage their business accounts simply and cost-effectively. Resident and non-resident accounts are available in over 30 currencies.
- We offer a range of secure communication channels for data transfer, including host-to-host, SWIFT, and South Africa’s number one front end solution, Business Online.
- Our cash management solutions are supported by a network of over 1 250 branches across Africa.
- Standard Bank is a Continuous Linked Settlement member .
- All Standard Bank clients have access to our well-trained support staff. Our dedicated relationship managers provide a single point of entry into our full financial services competencies, and ensure exceptional standards of service at all times.
Our cash management offering:
Standard Bank offers a range of account types to suit your company's individual requirements. Resident and non-resident accounts are available in 15 African currencies with the ability to transact in a further 20 non-African currencies (more currencies can be added, if required).
We offer the following account types :
- Current accounts
- Investment / deposit and savings accounts
- Money market accounts
- Loan accounts
- Accounts for financial institutions
- Foreign currency accounts
Standard Bank’s payment solutions ensure that our clients’ payments are implemented accurately and on time. Payments can be made electronically via a range of secure data transfer channels, or physically by means of cash, cheque or card.
Our electronic payment solutions enable our clients to :
- Initiate payments from remote locations in South Africa, Africa and globally
- Make single or bulk payments, for same day value or future value
- Make local or foreign currency payments from a single point of origin
- Transfer funds easily between Standard Bank accounts in your own global banking portfolio
- Submit your tax filing (South Africa only)
- Generate comprehensive reports
- Advise beneficiaries proactively when payments have been made
Cash facilities are available for your float, payroll and petty cash requirements. Distribution of cash is handled by our extensive network of branches and cash centres throughout Africa.
Standard Bank is able to generate cheques for single and bulk payments in high or low volumes. A bank generated cheque dramatically reduces the risks associated with the signing of handwritten cheques.
Our corporate card facility provides a convenient payment method for all business expenses. Detailed statements ensure our clients maintain control and keep track of their overheads, and simplify accounting and auditing processes. The card is accepted by more than 30 million merchants and 900 000 ATMs internationally.
As an additional service, Standard Bank is able to issue guarantees of payment to our clients’ creditors where required.
Standard Bank’s collection solutions ensure value is passed to your accounts as quickly and securely as possible, and that enough information is provided for you to identify the source of any funds entering your accounts.
Our range of collection solutions include :
- Direct debit: Funds are pulled electronically from your debtor’s account for credit to your bank account
- Cash collection via numerous channels
,including AutoSafe (bold)(a secure cash accepting terminal that counts, verifies, validates and secures bank notes in a tamper-proof container on your premises), branches and cash centres. Click here to learn more about Autosafe.
- Teller on site: A team of bank tellers handle receipting and counting of cash on your premises
- Cheque collection
- Foreign currency receipts
- Merchant acquiring service: A facility that allows our clients’ customers to pay by credit or debit card
Services offered by our liquidity management team include:
- Notional pooling and sweeping products
,which are available on request through the Standard Bank network in Africa
- A consolidated view of cash positions across Africa via our electronic banking platform
,including the ability to fund or de-fund countries as required
- An exchange control advisory service which assists with advice on cross-border liquidity management services
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