Malawi
Supporting Our Customers During the Pandemic
If you or your business has been affected by the COVID-19 pandemic, we're here to help.
Financial Relief Options
Business Loan Relief
Businesses are among those who will be hardest hit by the COVID-19 pandemic. These challenging times, we would like to reassure you that our team is dedicated to helping you and your business.
Adjustment of fees on internet and mobile banking
Standard Bank has reduced transactional fees on all it's digital platform to enable you to access affordable banking during the pandemic.
Personal Loan Relief
We understand that some people will be paid half salaries, others are on unpaid leave and others have faced retrenchment. If you have been affected note that we are offering a loan principle and interest instalment moratorium on a case by case basis.
Ways to Bank during the Pandemic
247 Mobile
You can access banking services on any mobile phone regardless of whether it has internet or not.
247 Online
247 Online is an Internet banking platform that gives you access to your personal and business accounts online anytime, anywhere. It's the perfect way to do most of your banking when you are home, office or traveling because the service is available 24 hours a day, 7 days a week. Internet banking gives you the freedom to choose your own banking hours giving you greater control of your money. It's secure, fast and easy to use. You can transact on all accounts that are linked to your main account. You can also view statements and make bill payments.
247 App
The Standard Bank App allows you to bank anywhere, anytime. The Mobile App is easy to use, giving you more time to do things that are more important to you. through this app, you can pay your water bill, buy electricity, Apply for a secondary account and manage all your existing standard Bank account as you relax at home.
Enterprise Online
Enterprise Online is a digital online solution that has been developed for Small and Medium Enterprises to enable them to conveniently manage their own business accounts. The payment platform enables business owners to bring the bank closer so that they can spend more time growing their businesses
Business Online
Manage all your business banking needs on this standalone, secure platform. From simple transactions and transfers, to local and cross-border trade deals as well as forex payments, you have full control over how you handle your business’s finances. You can also pay for your taxes and company utility bills through Business Online. It is simple and secure.
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Some Tips and Frequently Asked Questions
- Don't assume a text, phone call or email from someone claiming to be your bank is genuine. If you're not sure, contact your Banker directly.
- Never disclose security details (such as your PIN or full password).
- Don't move your money or make a payment to a 'safe account' that we've set up for you. We'll never ask you to do this.
- Don't panic, and don't let yourself be pressured into action.
- Remember, you can still do your day-to-day business banking online - transfer money, check balances and make payments to suppliers. Our Banking App and Internet Banking platforms are your one-stop shops for faster and convenient banking. With your business account, you can use these channels to access in-branch services at the tap of a button.
Is the payment holiday compulsory?
No, it is not. it is not automatic either.Those who wish to do so need to contact the bank and demonstrate how they have been impacted.
Assistance from Standard Bank will also include options to defer payment for an agreed period and the opportunity to restructure and consolidate the overall debt.
If I am a qualifying customer, for how long will my debt repayments be deferred?
For 3 months, from April to June.
What other debt solutions do you have for businesses?
Besides the payment holiday where your repayments will be deferred for an agreed period, we can also assist with restructuring and consolidation of your debts. To do this please contact your Banker, or email us on [email protected]
What will happen to my payments?
Your payment will be deferred for 90 days. The interest and fees accrued over this period will be capitalised on your lending account. After the 90-day period is complete the new repayment will become due.
Do you offer instalment relief for small business owners on personal lending?
Yes. If you’re the owner of a small enterprise, we’re offering you a 3 months instalment relief on your personal lending, so you that can focus on your business provided that:
- All your business and personal accounts are up to date as at 31 March 2020
- The instalment relief on your personal loans will be from April to September
- This includes Personal Loans, Business Loan VAF, and Home Loans
Other Solutions
Importing Goods from China
We can link you to agents that can help you to order raw materials, protective materials and general goods from china.
Enterprise Direct
Enterprise Direct gives you a team of dedicated business bankers that are ready to assist you through the phone or email. Enterprise Direct is available from Monday to Friday, 08:00am to 05:00pm. The Business Bankers are professionals and guided by the same rules that guide your interaction with a Business Banker in the Branch. The same protected systems used in the branch are used by the Business Bankers at the Enterprise Direct. All your transactions are safe and treated with utmost privacy