Standard Bank Consolidator Account

Get an overdraft and change the limit using your cellphone, internet banking or any AutoPlus ATM – The Standard Bank Consolidator Account is paid a monthly fee of only R47.00, and requires an income. You get preferential rates and a lot of benefits when you are over 55 years of age.

You can switch your insurance to the Standard Bank personal insurance for discounted premium, thus allowing you to save even more. You get special rates on the Standard Bank Fixed Deposit Accounts and Notice Investment Accounts.

You will get free forex delivery when you order notes in major cities as well as a free TravelWallet card. For a Standard Bank Gold Credit Card, annual fees apply.  When investing with an SB Fixed Deposit Account for 12 months or more, you will get an extra 0.5% interest.

Your card can be linked to all banking channels including internet banking, cellphone banking, mobile banking app, and telephone banking. You can use the card to do the most basics like prepaid purchases, including airtime, data, and electricity using any of the banking channels mentioned.

Make use of the Instant Money to send and receive cash at retailers, ATMs, or by simply using your personal phone. When using your card to purchase flight tickets, you will automatically be added to travel insurance.

Consolidator Account lets you draft your will and is reviewed at no cost to you. You can use your card to swipe limitlessly and get your ‘Cash–Backs’ at till-point (Cash withdrawal). Make debit transactions and check your balances as you wish, well you get your monthly statement on your email.

You will be able to track your transactions as they happen with MyUpdates. Your monthly fees will be paid back at airtime or rewarded back as airtime (Read more on Standard Bank Mobile)

What’s more?

• Protect your PIN and never share it with anyone even when they work for the bank. (Especially when they work for the bank) – Not even your spouse, you can rather have them their secondary linked card if allowed
• A card’s accepted globally
• Access to MasterCard or Visa benefits including their 24/7 emergency services
• SnapScan or Masterpass apps can be linked to your card to make secure payments using your phone.
• You get full functionality on your card using the Mobile Banking App by Standard Bank, where you can activate, deactivate or reactivate your card for any function as a security feature
• Your card is automatically be protected for loss

Consolidator Account Fees

With a consolidator Account, you have three different fee options to choose from, and I have a recommendation.

• You can pay a monthly fee of R47 for bundled services – This service usually when you have used up your allocated bundled services for a month, you will pay as you transact.
• Pay as you transact – This is a pay as you use service, and you will not be charged any more fees, this is what I recommend.
• Rebate pricing option

Consolidator Account Requirements

To qualify for a consolidator account you need the following:

• South African Identity Document Copy or a Smart Identity Card, or a Passport with a valid residence permit if you are a non-SA citizen.
• R8 000 monthly income or Savings or Investment balance to the amount of at least R5 000
• Proof of Residence that’s not older than 3 months
• The consolidator account is made for people over the age of 55

For more information visit the Standard Bank Consolidator Banking Account Page, you can call 0860 123 000, or visit your nearest branch. Standard Bank is a licensed financial services provider and a registered credit provider (NCRCP15) (iRead NCR and FSP)