Standard Bank is using their digital capabilities to give you a better customer experience with easier and cheaper banking.

Standard Bank is introducing a R4.95p/m bank account called MyMo.

Your MyMo bank account can be opened on your phone and includes data and airtime offerings and other benefits such as virtual and Gold physical card.

MyMo is an account for everyone, whether you just landed your first job or have been around the block. With no documentation required it only takes a few minutes to open the account on the Standard Bank APP.

Lindy-Lou Alexander, Head of Marketing Personal and Business Banking, says: “For just R4 .95 a month customers will be able to enjoy free swipes and ATM withdrawals at only R6.50 for amounts under R 1 000. MyMo account holders will also enjoy the convenience of a cheque account through a Visa and Mastercard gold card at competitive rates.”

The MyMo account is the only account that gives you talk time and data offerings.  Once the account is open, users can choose to either receive R50 in airtime or 500MB of data a month if their card is swiped more than four times a month. A further megabyte of data is loaded on the account for every R20 spent.

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As a MyMo account holder, it won’t cost you any data when using the Standard Bank APP as APP transactions are zero rated across all networks.

MyMo also allows account holders to open one or multiple virtual cards that can be loaded with funds for you or family members to make online purchases, order food online or pay for ride sharing fees.

Paying on the move? MyMo account holders can also make purchases using SnapScan using their Virtual Card!

MyMo also offers users added security for just R1 p/m. Standard Bank will inform clients via SMS of any activity on their account, debit orders or suspicious transactions. Debit orders can also be disputed or queries using the Mobile APP.

Feautures of the MyMo account include:

Account opened instantly on the Standard Bank APP

-You can deposit money into your account

-Buy electricity

-Buy airtime or data when you need to top up

-Make payments

-Create a virtual card and buy online as soon as you are ready

-Buy using SnapScan, just link your virtual card

-You can even pay by debit order

Free Data

-The more you swipe, the more data you get. You get an additional 1MB for every R20 you spend

-R50 talktime or 500mb of data per month after 4 card swipes

Through our extensive ATM network, customers can withdraw cash for as little as R6.50.

-If you are at an ATM and you have forgotten your pin, you can simply view it on your app

To make this account more affordable, we have reduced the fees that matter most to customers 

...You can do most of your day to day banking for under R5

-Monthly fee = R4.9

-Make electronic payments for R1.5

-Debit order for R3.50

You’re safe . . . we will notify you of any activity on your account for R1 a month

-If it so happens that your account is debited without your permission, we will notify you and you can reverse the debit order from the comfort of your own home.