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Electronic banking channels can boost your savings
Community Coordinator
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With July being National Savings Month, it’s time to consider the next step in your savings journey. Though you may be rigorous in your budgeting or have a sensible savings plan, you may have overlooked whether you move your money around in the most cost-effective way. There are a variety of economical banking channels available, and it’s important to make them work for you to enhance your savings.

The most expensive way to move money around is to deal in cash: you are charged every time you withdraw money – either from a branch or an ATM. So, to up your savings, eliminate cash as much as possible by using electronic banking channels. The most well-known of these are internet and cellphone banking, however there’s a range of other options available.

At Standard Bank, we’re aiming for a cashless environment, allowing our customers to make payments efficiently, securely and inexpensively. How does this help you save? Well, you don’t pay to use alternative banking channels, and they help you to save on transport costs to and from your nearest branch.

Let’s have a look at a few of the innovations that can help you save faster and easier:

 

SnapScan:

Barely half a decade old, SnapScan was our first mobile transaction offering. It allows you to pay for your purchases via a smartphone using a combination of a QR code and a secure PIN number.

With the help of this award-winning app, you no longer have to carry cash to pay merchants who don't have access to card facilities. Transactions for purchases are free for customers, so you save money on two fronts.

 

Tap&Go:

Through an antenna embedded in your Standard Bank Credit Card, you can pay for any purchase under R200 by simply tapping your card within 5cm of a point-of-sale terminal displaying a MasterCard PayPass logo. Like all our customer-centric solutions, it's fast, safe and convenient.

 

Instant Money

A unique Standard Bank service, Instant Money lets you conveniently send money to recipients without the need for a bank account. This is thanks to a unique voucher that’s sent to recipients via a text message, enabling them to withdraw the funds from a Standard Bank ATM, a Standard Bank AccessPoint or a SPAR outlet.

 

The Standard Bank mobile banking app

Designed and regularly enhanced with world-class technology, our banking app lets you open, access and manage accounts on the go.

Now, thanks to a recent agreement with all major network operators in South Africa, our customers will no longer be charged for data when using our app - no matter the network they're on - ensuring they'll be able to save more easily for the things that matter to them.

All these innovations are designed to help you. Get to know your options, so you can avoid unnecessary fees.

To truly optimise your savings to achieve your next, take advantage of our Savings and Investments solutions.

 

 

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