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Standard Bank Business Credit Card

Table of Contents
SME Reviews 10
Introduction

The Standard Bank Business Credit Card provides South African businesses with a revolving line of credit for business spending, from one of the country’s largest banks. It supports expense management, business travel and short-term cash-flow needs.

Who it suits

It fits an established business that banks with Standard Bank, or wants a major-bank business card to manage spend and separate business from personal expenses.

What you get

  • A revolving credit facility for business purchases.
  • Expense separation and statements for easier accounting.
  • Rewards and travel benefits by card tier.
  • The reach and support of a major bank.

Costs

Expect annual or monthly card fees, interest on carried balances, and bank eligibility criteria. Confirm the current fees, interest rate and requirements before applying.

Our take

A business credit card helps with cash-flow timing and expense control, but it is costly for funding actual growth because of the interest. For growth capital, compare our funding options. Keep a close eye on cash flow so a card stays a tool, not a trap.

Compare funding options

Related: Cash flow  ·  Funding options  ·  Business banking

Main Features

Cash Flow Management: SMEs can enjoy up to 55 days of interest-free credit, provided you settle at least the minimum required balance by the due date.

Flexible Repayments: Standard Bank’s business credit card requires a minimum monthly repayment of just 5% of the total outstanding balance.

Real-Time Control: Users can track company spending Track company spending closely using advanced Standard Bank Business Banking App and Internet Banking.

Detailed Expense Reporting: Users can access business reporting to monitor purchases enabling for sufficient reporting to the South African Revenue Services (SARS).

Rewards Programme: The business credit card can be linked to UCount Rewards for Business to earn up to 1.25% back in rewards on purchases, and up to R10 back in points per litre of fuel at Caltex and Astron Energy.

Security and Convenience: The offering includes free lost-card protection and customisable spending limits for different cards.

Liability Protection: All corporate cards come with automatic protection against card fraud or misuse.

Pricing

Standard Bank has up to seven offerings under its corporate credit card category.

Business Credit Card – R50 monthly fee at a minimum 5% repayment. Other features include:

  • Up to 55-days interest free
  • Access to UCount Rewards for Business

Business Garage Card – R600 annual fee. Other features include:

  • Driver-specific cards
  • Consolidate vehicle-related expenses reporting
  • Able to track spending separately from the main card

Travel Card – R600 annual fee. Other features include:

  • Able to settle within 25 days after chosen statement day
  • Up to R2 million in free travel insurance
  • Track travel expenditure monthly

Forex Card – R600 annual fee. Other features include:

  • Simplified forex purchases process
  • Able to settle within 25 days after chosen statement day
  • Up to 55-days interest free

Corporate Charge Card – R600 annual fee. Other features include:

  • Able to settle within 25 days after chosen statement day
  • Access to web-based expense management tools
  • Up to 55-days interest free

Aviation Card – R600 annual fee. Other features include:

  • Up to 55-days interest free
  • Card comes with aircraft-specific registration number
  • Choose between Mastercard or VISA card

Procurement Card – R600 annual fee. Other features include:

  • Secure payment processes
  • Access to web-based expense management tools
  • Up to 55-days interest free
Pros and Cons

Pros

Up to 55 days of interest-free credit
Free lost card protection
Advanced fraud protection
UCount Rewards for Business

Cons

Annual fee for UCount Rewards
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 unauthorised use. They will block your card and arrange for a replacement.

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

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