Standard Bank opens Prestige Banking


Lijeng Ranooe and Mamohlakola Letuka

STANDARD Lesotho Bank (SBL) recently opened its new Prestige Banking Suite at Pioneer Mall in Maseru which will give clients improved, “differentiated services with superior turnaround times”.

Standard Bank management said in a statement that the new banking suite had wider offices that offered clients more privacy and the right ambience as they conducted various transactions.

Some of the improved services offered at the facility include a Gold Current Account, pre-approved overdraft facilities up to two times the client’s net monthly income, offshore banking, home loan at Gold interest rates, personal loans up to a maximum of M400 000 and interest on current account balances greater than M5000.

SBL Head of Personal and Business Banking, Selloane Tsike, also addressed clients at the Prestige Banking Suite, saying the launch was in response to their pleas for improved services.

“We did this because in response to the voices of our clients; we heard you, we thought if we are existing for our clients we better respond and respond well,” Ms Tsike said.

“This is a milestone because it is about the new name of ‘prestige banking’, which was previously known as ‘elite banking’ as well as the new offerings. This is about hearing what you want and how we can serve you”.

For his part, SBL Manger Prestige Banking, Leeto Seitlheko said they were moving forward by making banking more affordable and adding value.

“In SBL’s ongoing initiatives to give you better service and reduce the cost of banking, we are proud to bring you our new Prestige Banking.”

“Prestige Banking is for customers and new account holders in what was previously called the Gold Current Account offering.” Mr Seitlheko said.

He also explained that customers would have access to a personalised service through personal private banker as well as access to the following services: reduced management fee, free debit card and cheque book (on the first issuing), improved cash management through pre-approved overdrafts.

“Our clients will also have access to Investment products, Unsecured personal loans, Vehicle and Asset finance (VAF), Access to our home loans offerings including building, purchasing and home improvement” Mr Setihkeo said.

Meanwhile, SBL also unveiled reviewed private banking offerings for their clients at their offices in Maseru.

The new services include platinum debit account comes with a cheque book, Platinum Credit and Debit cards which have chip and pin and gives access to funds at any time, worldwide, through ATMs, Internet and mobile banking.

The facility also comes with an unsecured loans for personal loans to credit cards, overdraft.

Clients will also have access to same day cross border payments to South Africa, Swaziland and Namibia.

In addition, clients will now have access to the new Instant Money facility which SBL described as “a cardless, person-to-person money remittance product for the purpose of sending someone money by their cell phone number from your bank account through a variety of the Bank’s channels (starting with eBanking and Mobile banking)”.

“It allows the recipient of Instant money to redeem the funds without the need for a bank account or bank card at any Standard Lesotho Bank ATM,” SBL said in a statement.

“Instant Money can only be redeemed in cash and allows the sender to send money anytime and from anywhere, even from the comfort and safety of their own home. The sender will have a maximum transaction value limit per day that he/she can send from a mobile bank.”

Head private banking, Lucy Mohapi said they also offered insurance products in private banking such as motor and vehicle insurance as well as life cover such as Matseliso funeral plan, personal loan protection, home loan protection and credit loan protection.

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