As South Africans continue to face challenges in dealing with the Coronavirus (COVID-19) pandemic, we are taking steps to provide some financial relief to some of our business and personal customers in the form of debt relief. We also encourage customers to consider digital banking as a preferred option to visiting a physical branch.
Debt relief for Small Enterprises and students
For our Small Enterprise customers (those with a turnover of less than R20 million) whose payments are up to date as at 31 March 2020, have been approved a 3 months payment holiday from 1 April to 30 June 2020 on their Business Loans. Repayment will be structured to capitalise on interest & fees. This is a an automatic adjustment later but there is an opt-out option. Click here for more information.
For our students we have also approved a payment holiday from 1 April to 30 June for our student loan customers who are studying full time. This will be at 0% interest and with zero fees. This is an automatic offer and no applications are required. Click here for more information.
Keeping everyone safe
The safety of our employees and customers is something that we care deeply about and we strongly encourage customers to use our suite of digital banking tools for their financial needs, whether this be from a personal or business perspective. Digital platforms provide an efficient, fast, safe and nearly instantaneous solution to many, if not all of your daily banking requirements, away from public spaces.
We encourage customers to manage account limits, make payments to local or international beneficiaries, settle traffic fines, download and send statements or apply for a personal loan from almost anywhere and at any time.
Some of the other digital features available to our clients include the options to:
Buy, send, store or spend foreign currency via the award-winning Shyft Forex App. The app’s features have been enhanced so that it is easier to track currency performance and movements.
Send money quickly and safely via Instant Money to 6 000 locations around the country and to anyone with a cellphone number.
Our digital products offer ease and convenience, no matter where the person is located, and replace the need to visit a physical branch. During times like these, digital, contact free banking will help clients to carry on with their personal and business lives without disruption. Meanwhile, business owners do not have to leave their operations to tend to the financial aspect of their business such as purchasing electricity, paying staff, taking out a loan or managing limits on credit cards.
Some of the digital features available to our business clients allow for business owners to:
Keep their business moving by accessing liquidity or working capital solutions. Small and Medium Enterprise clients can apply for and receive a business overdraft of up to R6 million within three minutes by applying online here.
Ensure the lights stay on and the water keeps running at their operations by accessing prepaid services from municipalities such as electricity (of up to R3 000) online here.
Set up an online arm of their enterprise, where clients can purchase stock through our SimplyBlu e-commerce set-up solution. Access business-focused savings accounts that help to grow cash and work towards securing the future stability of the business.
Our representatives at the call centre will always be available to assist customers should they require advice or have specific questions related to their financial needs. This will likely see a higher volume of calls at call centres, and we are preparing internal systems for this eventuality. We continue toclosely monitor developments on Covid-19 both locally and abroad to ensure precautionary health measures are in place for our employees, clients and all our stakeholders while ensuring business continuity remains uninterrupted.