According to CANSA, one in 28 South African women will develop breast cancer in their lifetime.
With advances in oncology care and the ability to detect breast cancer at an early stage, more women are surviving the critical illness, but the reality is that treatment comes at an exorbitant cost.
Research from the Global Burden of Disease shows that South Africa bears a heavy cancer burden with 115 000 South Africans that were diagnosed with cancer in 2017 . While prostate cancer is the most common form of cancer seen in men, breast cancer is by far the most commonly diagnosed cancer in South African women across all races.
The reality is that women and men alike is never too young or too healthy to take out cover. If you are unprotected, and your health situation changes, it becomes difficult or impossible to get the cover needed.
Felix Kagura, Head of Long-term insurance propositions at Standard Bank Group says “these statistics emphasise the importance of having adequate cover in place. If you have existing protection, it is critical to check your claim criteria to ensure that you are covered for breast cancer treatment.”
If you are without cover, or find that you are not covered adequately, take time to investigate insurance products that are designed to provide critical illness or cancer cover. “Some of these solutions offer certain benefits that extend beyond cost savings. Further to that, there is specialist cover available for critical illnesses like breast cancer. When taking out cover, it is of the utmost importance to provide information required in the application that is honest and accurate. “If what is disclosed is subject to dispute, a person who claims for treatment may be denied due to this oversight,” explains Kagura.
Unfortunately, however, access to screening is not widely available to the larger population. In a 2018 paper, the SA Journal of Radiology highlights that there is a desperate shortage of radiology services in the public sector and, as a result, most women do not have access to mammography screening. It is anticipated that with the introduction of a National Health Insurance, that this situation will change.
In the meantime, Standard Bank strongly advises South African women and men to consider medical cover that allows them to visit a doctor for regular check-ups.
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Question: What is the difference between Previous and Stamped Statements?
Previous Statements: A formal reconciled statement with an opening and closing balance according to your statements cycle.
Stamped Statements: A statement with an official bank stamp. The transactions are listed from the date of request, and date back 3 or 6 months.
Question: What are the different statements typically used for?
1.Record keeping (available up to 2 years online)
-Auditing of financial statements
-Proof of transaction when there is a dispute (incl legal dispute)
Input into financial statements (contains all cleared outstanding card authorisations; and cheques)
To provide to a third party:
-As proof of income
-When applying for an account
Check if someone has paid you before releasing goods
Input into financial statements
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Standard Bank International Personal Banking (IPB), a division of Standard Bank Offshore Group Limited (SBOG), triumphed in the 2019 International Investment Awards, walking away with the ‘Excellence in Private Banking’ award.
Considered an ‘industry institution’, the honours are highly regarded in the international investment and wealth adviser community, attracting more than 150 industry professionals from more than 60 companies.
This year’s ceremony, the 20 th anniversary event, saw a record number of entries, including six new categories as part of a relaunch to ensure the global event fully reflects the diversity and breadth of the industry it serves.
Organised by International Investment magazine, the awards recognise extraordinary talent and remarkable achievements from every corner of the globe.
Sanshia Tumblety, Head of Banking Propositions, collected the award on behalf of the team and praised the collective efforts of her colleagues.
Greg Barclay, Head of High Net Worth, Personal and Corporate Wealth said, ‘Naturally, I am proud and delighted that we have been recognised in this way and it is testament to the expertise and commitment of our staff. This has only been made possible through the continued collaboration and partnership across our business, enablement and support functions.
‘It is real acknowledgement of our focus on client centricity and further improving our proposition, ensuring a defined customer experience programme is in place to support the bank’s digitisation strategy and provide an omnichannel service to clients.’
Standard Bank Offshore Group Limited (SBOG) is 100% owned by Standard Bank Group Limited (SBG), the largest bank in Africa by assets.
Standard Bank was also shortlisted in two other categories at the prestigious annual awards. Melville Douglas, for ‘Best International Discretionary Fund Manager’ and senior manager Tim Townsend as ‘Emerging Talent of the Year’.
Standard Bank Offshore Group Limited
Standard Bank Offshore Group Limited is a leading provider of financial services to people and businesses. It supports Africa’s growth by connecting the continent with international markets. It offers solutions in Banking, Investing and Fiduciary and has offices in Isle of Man, Jersey, Mauritius and representative offices in London and South Africa.
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Please restart your device and update your app, try linking the app again, let us know if this issue still occurs and we will escalate your query to the App development team.
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Did you try communicate this with the Cellphone company? Please send your query and contact details to [email protected] .One of our consultants may be able to assist you with your query.
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You can check your Credit Card limit on the Standard Bank Mobile Banking App or Online Banking and to increase your limit, you will need to consult with one of our bankers. Please send your query to increase your Credit Card limit to [email protected]... View more
Standard Bank Wealth and Investment has been awarded the Outstanding Global Private Bank in Africa and the Global Best Next-Generation Offering award at the 29 th Private Banker International Global Wealth Awards 2019.
Private Banker International is a leading journal for the global wealth industry. The awards were held in Singapore on 11th October 2019 and were attended by influential decision-makers who are shaping the future and narrative of private banking and wealth management in key regions across the world.
Chris Browne, Global Head of Wealth and Investment at Standard Bank says, “these awards are a testament to our ongoing commitment to wealth preservation and service excellence. We take pride in building deep and meaningful relationships with our clients. We are proud to be recognised on a global platform for our Generational Wealth offering, and to be the preferred institution of choice across the African continent.”
Standard Bank Wealth and Investment has a presence throughout South Africa as well as Kenya, Nigeria, Ghana, Uganda, Mauritius, Jersey and London. This international footprint, combined with the Standard Bank Group’s own African and international presence, and over a 156-year heritage, empowers the division with the diversification needed to lead a globally effective wealth strategy.
Mr Browne adds that the awards, “spur us to continue giving our clients superior service and helps drive our Group purpose that Africa is our home and we drive her growth.”
The Private Banker International Award announcement follows Standard Bank Wealth and Investment being recognised as Euromoney magazine’s Africa’s Best Bank for Wealth Management in July 2019, further reflecting consistency in delivering solutions that matter. Additional Euromoney awards received include Best Bank in South Africa and Best Bank in Uganda.
Standard Bank Wealth and Investment offer our clients tailored solutions, designed to help manage, grow and protect their generational wealth and that of their families. Our goals-driven investment approach allows our clients to take a long-term view of their investments, whilst simultaneously meeting their short-term lifestyle needs.
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Every parent dreams of creating financial freedom for their children and to provide a better life for them. A life free of any financial burden sets the foundation for even future prosperity. Parents strive to leave their children a financial legacy that will provide for intergenerational wealth.
However, without proper planning, the inheritance you leave behind could dissolve rather than providing your children and grandchildren with a solid financial future. There are as many considerations around intergenerational wealth planning as there are solutions.
At Standard Bank Wealth Management, we work closely with our clients and their families to ensure their legacy wishes are met. To help your family prepare to inherit your wealth a few things need to be considered.
Firstly, professional advice is key in considering the appropriate structure, relevant to the circumstances of each family and it’s important to never take a general approach.
When thinking of how to protect one’s assets when moving from one generation to another the focus should the protection of beneficiaries from unintended consequences. The transfer should be practical and not a burden to heirs/beneficiaries. The appropriate structure attention should be given to ensure there is sufficient provision for heirs and/or beneficiaries of trusts to provide for future income and capital requirements of heirs and/or dependants (insufficient provision will result in the sale of potential growth assets).
Secondly, sufficient liquidity to fund taxes (CGT, Income Tax, transfer duty) and professional fees for example executor fees should be factored in. Other considerations depending on each families’ circumstances may involve business continuity - a major consideration for families with operating companies. Lastly, appropriate structures for the purpose of leaving a legacy for Philanthropic purposes require professional advice.
Much like all things there are bound to be a few obstacles and potential pitfalls. Clients should be mindful of restrictive will provisions clauses in a last will and testament and trust deeds. Outdated or inflexible structures may not stand the test of time and regulatory changes may lead to the unintended consequences the family never planned on. Often the lack of liquidity to fund expenses, taxes or support heirs requires assets to be sold and unfavourable prices achieved. Tax mitigation and planning is important but should not be the sole purposes for planning.
There are numerous acts that impact and influence wealth planning to name a few but not limited to:
Estate Duty | Transfer duty | Administration of Estates Act | Exchange control | Maintenance (children and surviving spouse) | Long term Insurance Act
Every family is unique and therefore no single method would apply in all situations. However, part of the planning process is to ensure the next generation is equipped to receive the wealth, appreciate its value and make smart investment choices.
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Standard Bank, STANLIB and Liberty are excited to announce the launch of 1nvest, a specialist index tracking fund provider. Geared specifically to provide simple, transparent and cost-effective passive investment products, 1nvest specialises in index tracking unit trusts and exchange-traded funds.
1nvest is the product of collaboration from all three businesses under the Standard Bank Group, Africa’s largest financial services group, combining existing index funds, experience and expertise to provide clients with a comprehensive range of 28 index tracing funds across multiple asset classes and geographies.
Index investing or passive investing has seen enormous uptake in more developed markets. According to Moody’s Investor Services, the adoption of passive investing in the US continues unabated with US passive investment funds set to overtake active funds by 2021.
Johann Erasmus, 1nvest Executive observes, “while the total amount of money invested in passive funds in South Africa is small compared to managed funds, an ever-increasing number of investors are showing interest in index funds as part of their larger investment portfolios”.
A big driver of this is the low-cost return, simple and transparent access that these products offer.
Index funds, as the name suggests, track market indices and don’t require a portfolio manager to carefully manage asset allocation. This means that fees are reduced and investment return that closely matches the targeted index is delivered .
Wehmeyer Ferreira, 1nvest Executive notes “over the last year or so, investors have become spoilt for choice as issuers have listed various new exchange traded funds (ETFs) on the Johannesburg Stock Exchange, offering both local and offshore exposure”.
But with a wide variety of options, investors may feel overwhelmed by what is becoming a vast landscape of product offerings. 1nvest has five broad product ranges that span equities, fixed income, commodities and property asset classes. These include the Local, Global, Blended, Commodity and Smart Beta ranges. That’s why 1nvest has made it simple. No matter who you are, no matter what you want to do, 1nvest provides the building blocks for a well-rounded investment portfolio.
1nvest gives investors the tools to grow their money and take control of their own future, in a way that is simple, straightforward and open. With the backing of the finest minds from the country’s most trusted financial institutions, we work with investors to build their wealth and achieve their financial goals.
For more information: https://www.1nvest.co.za/
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Please call the Instant Money Customer care number on 0860 466 639 or email [email protected] Alternatively, if the receiver tried to withdraw using the pin and used the wrong pin until it blocked, the Instant Money sender will receive a new pin from Instant Money voucher.
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You currently cannot change from Cheque account to MyMo account. The account is avaible to new to bank customers. For more information on this, please forward your query and contact details to [email protected] .One of our consultants will be able to assist you with your query.
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