Knowing the detailed Standard Bank black card requirements, benefits and charges in South Africa is the first step to enjoying a prestigious banking experience.
The bank provides the black card to holders of its Private Banking Account. It comes with access to Mastercard or VISA offers, insurance and round-the-clock emergency services contact centres (T&Cs apply, though).
Standard Bank black card requirements
You need to meet the following requirements to get a Standard Bank black card via the Private Banking Account:
- A minimum salary or income of R58,000 per month, or an investment of at least R3 million.
- A valid South African ID (or passport if you’re not a South African citizen).
- Proof of income.
- Proof of residence not older than three months.
Benefits
The black card (or the Private Banking Account) comes with plenty of benefits, the main one being anytime access to the Standard Bank’s private banking team on the phone.
If you’re an investor, you also get tailored portfolio management on request by Melville Douglas and specialist advice for short or long-term investment and saving options.
Additionally, you will get discounted rates on Standard Bank’s online share trading platform along with access to their financial advisors on trusts, estate planning and insurance.
Further benefits are summarised below:
- 12 complimentary visits a year to Bidvest airport lounges on your credit card.
- 12 complimentary visits to Standard Bank’s OR Tambo Library Lounge for yourself, one guest and kids under the age of two.
- 12 complimentary visits to the Standard Bank Fluent Lounge at Lanseria International airport.
- Up to 20% off on Emirates flights when you book through Leisure Desk.
- Up to 20% off your next car rental with Avis.
- 1GB per month AlwaysOn Wi-Fi for 12 months (R19 once-off) via your credit card.
- Qualify for UCount Rewards Tiering Points when you access your offshore bank account.
- You could get your monthly account fees back in Standard Bank Mobile airtime.
- Up to 5% cashback when booking your hotel and accommodation on Booking.com.
- Free access to the Microsoft Digital Literacy course.
Charges
The Standard Bank black card fee is R395 per month in 2023, including the Annual Diners Club Platinum and Platinum Credit Card fees. You will only start paying transactional charges once you have used up the bundled services for the month.
Additionally, you will get a discounted fee for a secondary account for your partner. You can view the detailed transactional charges on the Private Banking pricing guide for 2023.
Standard Bank black card for young professionals
If you’re 30 years old or younger, you can get the Standard Bank black card for young professionals via the Professional Banking Account. It has a monthly fee of R250, and no minimum monthly income is required.
The fee includes a set number of bundled services per month. This means that you will start paying transactional charges once you have used up the bundled services for the month.
Requirements for the Standard black card for young professionals include:
- A valid South African ID (or passport if you’re not a South African citizen).
- Proof of residence not older than three months.
- Professional degree, or latest results if you’re in your final year of study (view the approved degrees or qualifications list here).
The young professionals black card benefits include the following:
- Anytime access to your Private Banking team.
- Flexible terms and competitive rates on savings and cash investment solutions.
- Access to financial advisors on trusts, estate planning and insurance.
- Lifestyle offers on the Mastercard Buy 1 Get 1 app powered by Priceless Specials.
- Discounted deals and offers for Diners Club members.
- 12 free domestic Bidvest Lounge visits a year with your black credit card.
- 12 complimentary visits to our OR Tambo Library Lounge for yourself, one guest and kids under the age of two.
- 12 complimentary visits to the Standard Bank Fluent Lounge at Lanseria International airport for yourself and one guest.
- Free automatic travel insurance when you pay for flights with your credit card.
- Get your monthly account fees back in Standard Bank Mobile airtime.
- Get up to 5% cashback when booking your hotel and accommodation through Booking.com.
- Up to 20% off on Emirates flights when you book through Leisure Desk.
- Free access to the Microsoft Digital Literacy course.
Happy banking!