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Standard Bank launches cash deposit at store tills

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Standard Bank customers now have the ease of depositing cash while going about their daily essentials shopping. In partnership with Shoprite and Pick n Pay stores nationwide, customers will be able to deposit their money in-store, removing the pressure of having to find an ATM or branch. 

Standard Bank customers can now use any Shoprite and Pick n Pay till points to deposit cash across the country. 

For a fixed fee of R19.95, one can make a deposit of up to R5 000 at Pick n Pay stores and R3 000 at Shoprite stores. This gives customers the convenience of more points of representation to pay their credit cards or deposit funds into their transactional accounts, which brings much ease to managing day-to-day payments. 

Navin Mahadeo: Head Card Issuing, Standard Bank South Africa, says that it is important to offer customers a safe and convenient alternative to deposit cash.

“Together with Shoprite and Pick n Pay, we have enabled an exceptionally efficient and convenient way to deposit cash. We understand the power of the service. Already our customers do thousands of money transfers through our partner network with Instant Money. It is important to us that we are where our customers need us to be, which is why from a digital perspective, we are always online,” says Mahadeo.

He emphasises that there is a need to ensure that Standard Bank services are consistently available for customers, anywhere, anytime — irrespective of channel.

Customers will be able to deposit cash into their accounts as long as a physical debit, cheque or credit card is presented to make the deposit in-store. When that deposit is made, it will reflect on the customer’s account in the same way as a normal deposit at an ATM. 

Customers who have multiple accounts linked to their card cannot select the account they would like to deposit money into; the primary account linked to the card will automatically be credited. 

This offering is currently available at Shoprite, Checkers, Usave and Pick n Pay stores (inclusive of Boxer, Pick n Pay Liquor and Pick n Pay clothing stores). If customers have queries, they can contact Standard Bank on 0860 123 000.

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