Do you wish to find out how to close your Standard Bank account? Standard Bank may be the biggest bank in South Africa in terms of financial muscle, but it is not without it’s distractors. You are here because you have gotten fed up, or may you have simply found a better offer somewhere else. Maybe you have moved in with Capitec, the biggest bank in terms of subscriber numbers. Or maybe you are being wooed by Tyme Bank, South Africa’s digital bank. Whatever your motivations, you now wish to end the relationship with Standard Bank for good. How do you do it?
What to do to close your Standard Bank account
The following is how to close a Standard Bank account;
- You can close your account online. See below for detailed instructions on how to do it.
- Another option is for you to visit your nearest bank branch. Go to the help desk and tell them that you wish to close your account.
- It’s also possible to close your account by calling 0860 123 000. Talk to a customer care representative and they will help close your account.
- Another option is for you to reach out to Standard Bank on the email ask.SBSA@standardbank.co.za. Write “account closure,” on the subject line.
How to close your Standard Bank account online
The following is how to close your standard Bank account online;
- Sign into Online Banking using your credentials
- From the home screen, click on the menu button at the top left side of the screen
- Click on the Help & Services option
- Select Manage your accounts
- Choose Close an account
- Enter the account number and select Send
Why close your account?
This post was dedicated to showing you how to close your Standard Bank account. But why would you wish to do so in the first place?
It’s something that we have already discussed. Maybe you have moved on to a bank that offers more of what you are looking for.
You could always retain your account, but banks charge a monthly maintenance fee. That’s the reason why it makes sense to close an account that you are not using. Otherwise, you will continue having to pay the fee.
These fees range from R4.9 for R49 and even more on some accounts. So, they can add up if you ignore your account without taking an effort to close it.