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Standard Bank Business Credit Card

Table of Contents
Introduction

The Standard Business Credit Card is ideal for business owners who want to have a secure online shopping experience for themselves and their employees.

Whether it is to make purchases to restock your store or to buy office supplies, business owners can have peace of mind knowing that one of the business credit card features is a 3D Secure verification for safe online shopping. You also get a corporate liability waiver, which means that you will be automatically insured against card fraud or the misuse of your card.

With the Standard Business Credit Card, you can manage and control your business’ spending limits, get access to the VISA Business Reporting tool, and view or track transactions on the banking app or Internet banking.

On the days that you do not have your credit card with you, you can make payments by using the phone apps SnapScan or Masterpass – these apps may be linked to your credit card.

You can link the UCount Rewards for Business programme to your card and earn rewards – up to 1% on credit card purchases, R10 per litre of fuel and oil purchased at Caltex and Astron Energy and, up to 5% at the rewards retailers.

Main Features

Type of credit: You are advised to ask your relationship manager at the bank about this.

Qualifying Criteria: There is no information available online.

Repayment Terms: Your monthly instalment will be a minimum of 5% of the total balance. However, if you want to pay back the money in full before 55 days, you will have interest-free credit.

Application process: You can apply online by completing a form, where you will answer personal questions such as what your gross income is before deductions, as well as how much your expenses are. You also give consent to your personal information being used for credit and fraud checks as well as compliance purposes.

Pricing

Fees: Once approved, costs include:

  • Once off initiation fee – R309
  • Monthly service fees – R45 per month (depends on the number of company cards held)
  • Garage Card – R523 annually and is sold separately. It is used to manage your business’s fuel, repairs, toll fees, maintenance, spares and other vehicle-related expenses.
  • 5% minimum monthly repayment

Interest rate: You are advised to ask your relationship manager about this.

Rewards programme: To join and collect reward points, you sign up for UCount Rewards for Business and pay R365 annually. With the business rewards, you can redeem points for fuel, office supplies or get travel deals.

Other: Travel cards, corporate charge cards, procurement cards or aviation cards are separate offerings, and are sold at different prices.

Pros and Cons

Pros

Up to 55 days of interest-free credit
Free lost card protection
International acceptance
Advanced fraud protection
Basic automatic travel insurance cover
UCount Rewards for Business

Cons

Monthly fee for UCount Rewards
Annual fee
Interest rates
FAQs

You’ll need to be a registered business in South Africa with a valid business bank account at Standard Bank.

Standard Bank typically requires basic business documentation like your business registration certificate, recent bank statements, and proof of identity for directors/owners. They may request additional information depending on your specific circumstances.

Standard Bank generally aims to provide a decision within a few business days.

While the card is intended for business purchases, Standard Bank may allow some personal spending as long as it remains within reasonable limits. It’s best to check the terms and conditions or contact the bank for clarification on their policy.

Report a lost or stolen card immediately to Standard Bank’s 24/7 emergency hotline to prevent unauthorized use. They will block your card and arrange for a replacement.

The Standard Bank Business Credit Card likely participates in the UCount Rewards program, allowing you to earn points on your business spending which can be redeemed for various rewards.

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