Standard Bank has announced the launch of its new mobile virtual network operator (MVNO), Standard Bank Mobile.
Standard Bank Mobile will provide cellular and data services on Cell C’s network and will also benefit from its recent roaming agreement with MTN.
This service will be available exclusively to Standard Bank customers and will be offered on a month-to-month basis for R39 per month.
The bank said its MVNO includes a unique offering – the ability for Standard Bank customers to convert bank charges into airtime or data.
Customers can also earn free data every time they use their credit, debit, or cheque cards.
Standard Bank Mobile will not offer any discrete data bundles, and instead it will offer a range of data prices from 5c per MB.
Voice and data rates
“Expiring data bundles are a thing of the past, customers can choose data pricing that is most relevant to them, they can simply add it to their monthly subscription and will then get more rewards the more they transact,” said Standard Bank Personal and Business Banking SA chief executive Funeka Montjane.
Standard data and voice rates are detailed below.
- Voice – R1.29 per minute
- Data – R0.49 per MB
- SMS/MMS Local – R0.60
- SMS International – R2.00
- MMS International – R4.50
Customers can also select specific data and voice plans, which will subtract a fixed amount from their free airtime balance and allow them to deplete voice or data at better rates.
These plans are valid for 30 days, after which they can either be set up to recur or the customer will return to standard rates.
For example, a customer with a Private banking account will receive R350 free airtime monthly for a R39 per month subscription fee.
The customer then selects Data Option 2 at R69 and Voice Option 3 at R79, which means that he has R202 free airtime left to use for calls and data.
His R202 free airtime will deplete at R0.12 per MB and at R0.79 per minute. Once his free airtime is finished, his pre-defined spend limit can be activated.
Customers will receive the following amounts of free airtime depending on their account type:
- Consolidator – R50
- Elite – R100
- Prestige Professional – R200
- Private – R350
- Signature – R450
- (Sum)1 – 250MB or R25
- Student Achiever – 250MB or R25
- Access – 250MB or R25
- Gold – R100
- Platinum – R100
- Titanium – R100
- World Citizen – R100
All credit card transactions for Standard Bank Mobile customers qualify for 1MB of data for every R10 they spend, and cheque/debit card customers will receive 1MB of data per every R20 spent.
“We are combining free voice and data with cutting-edge financial services to deliver exceptional banking experiences and value,” said Montjane.
The bank added that while Cell C is its current network operator, it remains open to other network providers in the future as it expands and adds additional services.
Standard Bank Mobile currently only offers standalone SIMs, but will begin offering handsets in the first quarter of 2019, and is expected to add fixed-LTE and fibre broadband services.
Standard Bank customers can sign up for Standard Bank Mobile at mobile.standardbank.co.za.