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IBAN numbers are required when sending money to beneficiaries abroad, in this case the IBAN number will be provided directly by the beneficiary, however, when receiving money a Swift code will then have to be provided together with your banking details. The Standard bank swift code is SBZAZAJJ. If a beneficiary is not certain on the IBAN number, he/she can contact their branch to obtain this information. Please visit: http://www.standardbank.co.za/standardbank/Personal/Banking/Foreign-Exchange/Payments-and-transfers/... for more information.
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I apologise for the inconvenience experienced, please escalate your query to : 0860 466 639 or [email protected] The Instant Money consultants will be able to asist you.
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As the much-anticipated rainy season approaches, there is no worse stressor than that of not having the right cover for your home. Understanding the terms and conditions that come with your cover will ensure that you are not left standing in rain, saving you thousands of Rands in excess.
According to Stephen Raseobi, Head of SIL Claims at Standard Bank Group, homeowners can spare themselves the burden of battling it out with the insurance companies and mitigate claim rejections due to weather damage on their homes by familiarising themselves with claims processes.
Homeowners should regularly check their homes for any possible gradual operating causes such as puddling of water on flat roofs, which could give rise to a claim but has been happening over an extended period; this could affect the claim negatively for the insured.
“For every improvement done to your property to increase the value of risk, it is mandatory that the insurer is notified. This could prevent any possible angst related to complaints on the part of the client and this would help them to effect necessary maintenance before the stormy or rainy seasons come”, says Raseobi.
Standard Bank’s HOC product is an all-inclusive policy which covers a range of perils including storm – this comes in a package – one cannot elect to omit part of cover such as storm because the area is not prone to weather elements.
About Standard Bank Insurance
Standard Bank Insurance Brokers (Pty) Ltd (“SBIB”) is an authorised financial services provider FSP 224. SBIB is a Group company of The Standard Bank of South Africa Limited (Reg. No. 1962/000738/06), an authorised financial services and registered credit provider (NCRCP15).
Frank Financial Services is a juristic representative of the Standard Bank of SA, an authorised FSP. Products are underwritten by Liberty Group Limited.
Disclaimer: The views and opinions (information) expressed in this article are for information purposes only and do not necessarily reflect the official policy or position of The Standard Bank of South Africa Limited and/or any of its subsidiaries and holding companies and their subsidiaries and holding companies (Standard Bank Group). The Information provided in this article does not constitute advice and is not to be relied upon as independent professional advice of any kind. The Standard Bank Group makes no warranties or representations (implied or otherwise) as to the accuracy, completeness or fitness for purpose of the Information provided in this article or that it is free from errors or omissions. The Standard Bank Group and its employees, agents and representatives accept no liability for any loss, damage or claim arising from the use of any Information presented in this article.
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‘Black Friday’ and ‘Cyber Monday’ are the American shopping phenomena which have taken South Africa by storm. These massive shopping days saw South Africans spend over R2.8 million in 2018 alone, according to Bank Serve. Although Black Friday is the most popular of two days, Cyber Monday presents an opportunity for small businesses who can’t necessarily compete with the big retailers for foot traffic.
One of the biggest reasons small enterprises fail to make a mark on ‘Black Friday’ and ‘Cyber Monday’ is their lack of digital offerings for customers. Online payments represent less than 10% of all card purchase transactions on these days.
This growth in the use of digital channels is not unique to South Africa as consumers look for opportunities to access the deals at a convenient time and location to avoid aggressive behaviour synonymous with ‘Black Friday’ and ‘Cyber Monday’.
According to Nelisa Zulu, Standard Bank, Head Merchant Solutions South Africa, in order to capatalise on the growth of popularity of these annual shopping events and the growth of digital adoption, small enterprises must consider the following tips:
Stand out and become more visible
One of the comforts consumers enjoy about ‘Black Friday’ and ‘Cyber Monday’ is the convenience of shopping from home at the click of a button. Most consumers attach Black Friday to in-store sales only, but retailers offer onmi-channel promotions. Consumers who are looking for convenience or do not have the opportunity to escape work on a Friday would take advantage of online sales. This There are many available providers who can build websites for businesses. Standard Bank’s SimplyBlu is an example of such. This new all-in-one e-commerce solution that enables you to start and manage online business from a single, secure platform, thus tapping into the growing online shopping market.
Embracing the power of mobile
A lot of consumers have embraced the idea of transacting on their mobile phones, what is also significant is the year on year growth of 55%, which demonstrates the digital payment adoption by South African consumers. It is important for small enterprises to be more relevant and play in a space where the clients spend most of their time.
Giving customers incentives
‘Cyber Monday’ also offers an opportunity for a business to launch its online shopping platform. It is the perfect time to drive traffic to your platform by offering significant discounts when customers shop online as opposed to physically coming to the store. Stats SA retail figures for December 2018 showed an annual decline of 1.4% instead of the expected 2.1% growth on visits to brick and mortar retail stores. This is proof that the lure of physical stores is slowly getting lost on consumers. Evidently, consumers are both cash and time-strapped and giving them a choice on where and how to engage in mutually beneficial to both retailers and consumers.
Extend the offer
Traditionally, ‘Cyber Monday’ deals cut off at midnight. The great thing about technology is that you have the power to rewrite the rules. By extending your deals beyond the 00:00 cut-off, you get an edge of competitors by offering your customers more value for longer. Just like how we have seen an extension of the promotional period for ‘Black Friday’, it may be worthwhile to consider the extension of the shopping period for ‘Cyber Monday’.
Take advantage of specials for their own business
While focusing on making sales, small businesses should also be aware of sales taking place that they themselves can take advantage of. Things like office supplies, furniture and other assets like laptops are often on special during ‘Cyber Monday’. So, while directing sales, business owners can also do their own shopping from the comfort of their own space.
Small enterprises in South Africa need to understand that ‘Cyber Monday’ is not just made for big players such as Takealot or Amazon. Technology and low-cost solutions such as SimplyBlu have levelled the playing field drastically and with the right ideas, a small business can now also begin to flex their digital muscle and enjoy a part of the shopping revenues.
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Black Friday is but a few days away and consumers are preparing to hit the online shopping strip. As with any increased spending period, consumers are urged to remain vigilant and alert when transacting at a point of sale or online. Just because you are in a festive and carefree mood, does not mean that criminals and fraudsters have taken the day off as well
With technology being at the forefront of everything we do lately, thousands of consumers opt for online shopping to avoid long queues at malls. Online shopping is one of the fastest-growing retail platforms in South Africa. It makes sense, therefore, to update and familiarise oneself with the necessary safety features and measures while shopping. After all, you will not enter your card pin with someone peering over your shoulder while paying in a shopping queue, why expose yourself similarly online.
We urge consumers to remain vigilant of scammers who are looking to steal your money and personal details in the real world and the virtual world.
According to a report by SABRIC, fraud incidents across online and mobile banking apps increased by 75.3% in 2018 alone. Therefore, as you begin hunting through Black Friday as well as Cyber Monday deals this year, keep the following six tips in mind to make sure you don’t fall victim to any cyber trolls:
Avoid shopping on public Wi-Fi networks
Cybercriminals know how to thwart unsecured Wi-Fi to gain access to the information you send over it. So, it’s better you eat into some of your data to make sure your financial information is protected.
Use complex passwords for online retailers
Having strong, secure passwords is essential to keeping your online identity and accounts safe from hackers. Always include a mix of letters, numbers and special characters to makes sure it’s not easy to crack into your online platforms.
Never click on a suspicious link
Scammers might target you with emails that contain promotional links, appearing to be from a legitimate retailer. This is an attempt to get your attention and trick you into clicking on a link which carries malicious malware and stealing your personal information. Avoid clicking any unsecured links.
Be on the lookout
If you forget your bank card somewhere while shopping, rather cancel it immediately rather than go back to look for it. You might find it, but that leaves you with the risk of someone having taken your card details and using them for online fraud.
Ditch unsecured online stores:
There are thousands of online stores, and with this form of shopping becoming so popular, it is easy to fall into the trap of purchasing through an unsecure site. Always look for a padlock on the site’s URL website itself to make sure it is safe.
Black Friday is known to be one of the busiest shopping weekends of the year, and it goes without saying that, just like the festive season, this is a busy time for criminals. Be sure to take extra precautions to protect yourself, your purchases, and your personal information. If something seems suspicious, it probably is, so stay away from it.
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While agriculture across the African continent may not produce the types of yields seen in developed markets, the picture is starting to change somewhat with the arrival of digital applications.
As it stands, traditional small-scale farmers in Africa use techniques that produce the lowest yield per hectare globally. This is despite the continent having 60% of the world’s uncultivated arable land.
With the introduction of data and digital technologies to farming practices across Africa, there is an enormous potential to boost output and contribute to meeting the 70% increase in global demand by 2050.
The big opportunity for African agriculture lies in agritech and its ability to deliver information to farmers through data. These innovations empower farmers with the tools to make decisions that improve crop yield while enriching the entire agricultural supply chain.
We believe that modern farming practices are what’s needed to help Africa’s farmers make informed decisions around their crops and future strategies for growing. This has led to the bank’s investment in innovative solutions that leverage technology to provide tools and data to farmers.
Stanbic Bank Zambia , for example, is helping local farmers to track the health of their crops and farm more efficiently with digital satellite application Contour. Available on mobile and desktop, the app uses satellite imaging and analysis to give farmers satellite data, crop growth models, soil analysis mapping, weather data and more.
The app acknowledges that affordability can be a stumbling block for farmers looking to digitize and is available at about US5.50 per hectare.
This agritech innovation also improves the relationship between the farmer and funding partner, as it enables the bank to correctly assess risk – through the monitoring of crop performance – and accurately allocate capital and cover.
With the potential of agriculture to lift people of the African continent out of poverty and into the financial system, we have further committed $3 million towards a smart agriculture initiative aimed at empowering women farmers in Malawi, South Africa, Uganda and Nigeria.
Through the programme, over 15 000 farmer-beneficiaries will be exposed to groundnuts farming technologies. These are commercial entities that have received the opportunity to scale up and plug into the supply chains of larger corporates.
Research shows that women account for nearly half of the world’s smallholder farmers and produce 70% of Africa’s food. This highlights the importance of supporting women farmers to enable their growth and that of the continent.
As the uptake of agritech solutions continues, we continue to innovate to provide digitally enabled solutions to farmers that improve yield and contribute to the growth and development of Africa’s economies.
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Entrepreneurship is a major driver of economic growth, but only when the businesses develop into scalable entities with the potential to expand and contribute to meaningful job creation.
This emphasises the critical importance of efforts to drive initiatives that fast-track small business expansion, by breaking down barriers to entry and providing support services.
While the African continent boasts a thriving entrepreneurship culture, the reality is that many of the entities in operation remain within the confines of the informal environment.
Without access to working capital, market intelligence to tap new regions and value chains, and developmental support, it can be hard for small businesses to grow.
To help alleviate some of these pain points, we have created a suite of digital solutions that are tailored to the suit the unique needs of African-grown SMEs.
Recently we invested $4million in South African fintech Nomanini. The platform connects informal merchants with distributors via an e-wallet, and aims to roll the service out across 14 African countries by early 2021.
Our enterprise online payment platform enables business owners to transact on accounts online with a single login across the Standard Bank/Stanbic banking portfolio across products, countries and currencies. The platform is available in Botswana, Malawi, Lesotho, Ghana, Namibia, Uganda, Zambia, and Zimbabwe.
In South Africa, businesses can take advantage of bulk instant money which can be used to pay employees without bank accounts. All they need is a cell phone number, making it a cheaper and more secure option than to pay staff than withdrawing large amounts of cash.
We launched SimplyBlu to make it easier for business to participate in online trade. This offering allows entrepreneurs to set up an e-commerce platform and accept payments through a secure mechanism for a nominal fee.
Meanwhile BizFlex, an industry-first lending solution designed for SMEs, featuring flexible repayments was launched. BizFlex allows businesses to repay as they earn revenue at a cost that is fixed and guaranteed upfront. While existing loan application processes prove onerous, a BizFlex loan is available digitally and is paid out within hours. BizFlex offers SMEs lending that is as flexible as their businesses.
These efforts demonstrate Standard Bank’s ongoing effort to help SMEs in tackling everyday business challenges by providing them with tangible banking solutions to help grow and sustain their businesses.
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An increase in export and import activity across Africa regions will go a long way towards igniting economic growth on the continent. The reality, however, is that the continent’s share of global trade stands at only 3% despite accounting for 11% of the world’s population.
For this to be corrected, we need to remove the common constraints to trade that prevent small- to medium-sized business in Africa from taking advantage of growth-enhancing opportunities on the continent and beyond.
Standard Bank has developed digital solutions that are easy to access, simplify the trade process and reduce high costs associated with trade for SMEs across Africa regions.
For example, an entrepreneur who wants to expand operations into other markets may not possess the knowledge to find trusted suppliers or buyers. This is where Standard Bank’s Trade Club becomes particularly useful.
Available to business clients of Standard Bank at no cost, this innovative digital networking platform connects buyers and sellers from 50 countries around the world. Trade Club gives SMEs and corporate clients a wealth of relevant international trade expertise, tools and services, as well as the opportunity to connect with trusted partners in new markets.
Once a business becomes an exporter or importer of a certain product or service, they need to prepare for transacting using international currencies. This can be difficult in Africa where many countries have strict foreign exchange controls or in China where there is limited acceptance of Visa and Mastercard cards.
In a bid to solve this challenge, Standard Bank launched the Shyft forex app, which allows anyone with a Standard Bank account to buy foreign currency and store forex of up to R1 million in forex per year.
The app takes the pain out of foreign currency exchange, which typically requires having to physically visit a bank branch, by allowing customers to make transfers on the app at any time of the day, seven days a week, from anywhere in the world at a competitive rate.
From a country-specific perspective, in Uganda, we launched a platform in partnership with Traydstream, which has digitized the manual process of vetting letters of trade checks.
Traydstream’s one-stop-shop for processing enables business clients in Uganda to speed up processing time, mitigate risk with thorough trade checks as well as improve the transparency of transactions through an aggregated compliance module.
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VISA Spend & Win:
Which Cards qualify:
Only Standard Bank Visa Cheque Cards. This can be either the Gold Visa Cheque Card or Platinum Visa Cheque Card.
Which Customers qualify:
Personal Customers only.
How to get involved:
Transact for R1000 or more, using your Standard Bank Visa Cheque Card, over the campaign period to get an entry into the draw.
19 th Nov – 12 th Dec.
None. This campaign is not restricted to shopping at select merchants.
How many times may you enter:
Every transaction for R1000 or more will enter you into the draw. Every additional R1000 spent on your card will count as an additional entry into the draw.
How many times may you win a prize?
A Customer can only win either a Cash Prize or an International Holiday Package once.
For more information click here :
Terms and Conditions:
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