Standard Bank cuts 2.5%commission on foreign currency sales

…Offer available to business and holiday travelers

Award-winning foreign currency provider Standard Bank is pleased to announce launch of a zero-charge offer on sales of all foreign currencies to customers in appreciation of their support to the bank’s forex business.

Head of Global Markets Mclewen Sikwese said the offer —effective April 3—is valid for three months and will see the bank foregoing the 2.5% commission it normally charges on sales of foreign currency cash.

“As a result of the support from our customers, Standard Bank continues to receive excellent ratings as Africa’s leading foreign currency service provider. But we also recognise the role of the local customer in contributing to that success, and this offer is a token of our appreciation,” he said.

He said the offer is open to all Standard Bank customers who want to purchase foreign currency cash of any amount through the bank’s branches backed by valid travel documents.

“This offer aims to make US dollars and other major trading currencies easily and readily available in cash to our customers at no extra cost and without hassles or stress. We have made it easier than before for customers to buy from us without stressing about the charge; what you see as the exchange rate is all you get charged “it’s free for the next three full months,” he said.

For customers looking to access an equivalent of up to US$3,000.00 for travel purposes, the bank will require a valid passport with the provision of a bus and air ticket not compulsory. .He said customers travelling on business and wishes to buy cash in excess of US$10,000 or its equivalent will however be required to bring a letter from their employers or companies clearly motivating as to the need for the amount applied for.

Sikwese said Standard Bank, which has been awarded the accolade of Africa’s best foreign currency provider for four consecutive years due to its ability to provide timely solutions. As such Standard Bank is guaranteeing a quick turn-around time of 15 minutes for all purchases of foreign currency cash in all its branches.

Sikwese said the bank is best positioned to offer the green buck and other foreign currency solutions to personal and business customers in Malawi. “We have availability of foreign currency cash in all our branches across the country and our staff eagerly awaits customers wishing to purchase the cash for holiday and business travel,” he said.

He added; “We are proud to be the bank that delivers tailor-made and sophisticated forex solutions across Africa. Doing business in the regional and international markets has become easier for our clients because of the linkages that our home team provides”.

The Global Finance Magazine, a leading business and financial monthly magazine has consistently rated Standard Bank as Africa’s Best Foreign Currency service provider for four consecutive years.