Products   Your credit limits Linking your accounts Statements Interest and fees Returned payments Paying your account Your credit limit Your account credit limit may be used for either a revolving credit or budget facility. You choose how to use your account credit limit. If your account exceeds the account credit limit you will be charged an overlimit fee. Revolving credit/straight facility The revolving credit limit is the straight or normal credit available on your card. This facility is available immediately when you receive your card. For example, if the limit is N$1 000 and you use your card to buy goods worth N$700, you will still have N$300 credit. If you then pay N$500 into your card account, your available credit becomes N$800 (N$300 plus N$500). You can check your card balance at any time at any ATM. You may withdraw cash on your revolving credit facility, however, interest accumulates on a daily basis from the day of the withdrawal until the amount is settled in full. Budget facility You may use the budget facility for items costing N$200 or more. You can repay the credit used for the items purchased over 6 to 60 months (subject to the amount of the purchase). Simply tell the cashier which repayment period suits you. You may buy as many items as you wish with your budget facility, if you have credit available. The following items cannot be purchased on your budget facility: Traveller's cheques. Progressive payments (for example, home extensions unless the payment is once-off). Electronic account payments (EAP). Increasing your credit limit You may apply for an increase after six months. Any increase will be based on your card account and other Standard Bank accounts history. To apply for an increase, call us on 061 294 2136. Temporary limit increase If you need a higher credit limit for a specific period, you may apply for a temporary increase. The limit will revert to its original level at the end of the specified period. To apply for a temporary increase, call us on 061 294 2136. Clearance period Cash and cheque payments that exceed your credit limit are subject to a 10-day clearance period for security reasons. This clearance period does not apply to funds that are transferred electronically. Back to top Linking your accounts If you link your credit card to your Standard Bank Current/ Savings account, you can transfer money between the accounts. If you lose your card and it is replaced, you must visit a branch to get a new PIN. Additional cards You may apply for an additional credit card to be linked to your card account. Your card will be the principal card. Your account will be open to both cardholders. Your credit limit will be shared between you and the additional cardholder. Back to top Statements Statements are produced monthly. The statement date is important for the calculation of interest. The statement reflects the exact situation of the account on that particular date. Check your statements to make sure that all transactions were made by you or with your authority and that all payments to us are shown. If you need an interim statement during the month, you can obtain one from any Standard Bank ATM, branch or through the Internet (if you have registered for Standard Bank Internet Banking). If you do not receive a statement, please call us on 061 294 2136. If your postal address has changed, please inform us immediately Disputes If your statement shows a transaction that you neither made nor authorised, you must contact us within 60 days by letter or fax or call 061 294 2136. If you have a query on your account you may complete a dispute form which is available at your branch. Your dispute will be sent to the relevant merchant through its banker. Merchants keep slips for a limited time only, which is why you need to act within 60 days of the transaction date. If the merchant is unable to provide proof of the transaction or you can show that the slip is not genuine, the transaction will be reversed. If you made the transaction, you will be charged a fee for the dispute. This is why it is important to keep all your slips. If there are any fraudulent transactions on your card after it is reported lost, you will have to complete an affidavit before a commissioner of oaths. The affidavit must be sent to our fraud department in Johannesburg before your account is credited with the disputed amount. Our postal address is PO Box 3327 Windhoek Namibia Back to top Interest and fees Interest on cash advances and budget purchases are calculated on a daily basis and added to your account monthly. On other purchases, you may have up to 55 days' interest-free credit depending on the date of the purchase. Annual card fee This fee is charged to your account on each card anniversary. The fee covers the costs of the card, monthly statements and administration Back to top Returned payments Sometimes a payment into your account may be returned to you marked "refer to drawer" or RD. Unpaid items can include cheques and automatic payment orders (APOs). The reason is inadequate funds in the account of the person who drew the cheque or authorised the APO. You are liable for unpaid cheques and APOs on your account. A fee will be charged for unpaid cheques and APOs. No limit increase or budget purchase requests will be approved for one year after a returned payment. It is important to provide for your monthly payments, and if you foresee or experience difficulties, you should call our collections department immediately on 002711 498 4670. Back to top Paying your account Payment We keep a record of every cardholder's payments. A good payment history is one in which at least the minimum payment is made on time every month. A bad payment history includes missed and late payments. Due date The due date is the date by which your monthly payment should have reached us. The due date is usually about five days before the statement closing date to allow us to process the payment. Other payment information Minimum payments When you receive your credit card statement, you will see that it shows the minimum payment and the date on which it is due. The minimum payment is 5% of the outstanding balance or N$25, whichever is greater, plus any budget instalments. You may pay your account Standard Bank ATM By automatic payment order (APO) or debit order Using Standard Bank Internet Banking; At any Standard Bank branch By mailing us a cheque We recommend the first three methods, as your account will be credited on the same day. Electronic payments For your security, there is a monthly limit of N$10 000 on electronic payments. If you need to transfer more than N$10 000, please contact your branch. Payment Allocation Your payment is allocated as follows: First, the budget instalment is paid and any over limit amount. The remaining balance of the payment is applied to your revolving credit facility. For example, if your revolving credit total is N$1 000 and you have used the entire balance and your budget instalment is N$200 a month, the minimum payment is calculated as follows: 5% of the R1 000 balance which is N$50 The budget instalment of N$200, which adds up to N$250. If you exceed your credit limit, your minimum payment will be calculated as follows: If your limit is N$1 000, you spend N$1 500 and a N$200 budget instalment is due, your minimum payment is: The amount over limit, which is N$500 5% of the N$1 000 balance, which is N$50 The budget instalment of N$200 which comes to a total of N$750 This example does not imply that you may exceed your credit limit. It indicates that your minimum payment could be higher than you expect if you exceed your limit. Arrears Once your account falls behind it is very difficult to bring it back into order. To avoid this, pay your accounts every month. Fixed arrangements If you are unable to make minimal payments on your account you may enter into a fixed arrangement with us. A fixed arrangement is an agreement to pay an amount that you can afford every month. We need details of your income and expenditure. The card account will be closed until the balance has been paid in full. Your budget and revolving credit facility will be consolidated to allow you to pay the balance. Once the account has been paid in full you may apply for the card to be reinstated. Whether the card is approved depends on how well you kept to the terms of your fixed arrangement. " To make a fixed arrangement, please contact card division collections on 002711 631 6508. Early settlement of budget accounts If you want to settle your budget account early or wish to pay a lump sum into the account, please inform us before making the payment. If we are not informed, the payment will be credited to your revolving account. If your card is damaged or lost If your card is damaged or lost, please call 061 294 2136 immediately. Always keep a record of your card number. Have your card number or identity number handy, and we will replace your card as quickly as possible. Please note the reference number provided by the call centre. Please note A lost card is replaced with one bearing a new card number. If you have debit orders against your card account, you will need to give your new card number to the organisations concerned. Card protection To prevent fraud, please keep your card in your possession at all times. Report lost or stolen cards to us immediately. If you have two cards and one of them is reported lost, do not use the additional card. If your card is linked to a garage card, do not use your garage card until a new number has been allocated to you, Lost card protection covers you for any purchases made by the person who stole or found your lost card if you report the card within 48 hours. Lost Cards division will issue you with a reference number, which must be quoted to our Fraud Department in the event of fraud. Free lost card protection. You are not protected against transactions in which your PIN is used. You may not be protected if you fail to report the loss of your card as soon as possible, or if you compromised your card details to a third party, depending on the circumstances. You will be liable for any fraudulent transactions that have not been reported within 30 days of the date of transaction. If you have any questions or need more information call 061 294 2136 Back to top   Disclaimer | Conditions of access | Privacy and security statement