One of the benefits you enjoy as a Business Banking customer in Standard Bank is the security of a bank guarantee (GBB). Standard Bank gives a written undertaking in agreeing to make stipulated payments on your behalf should you fail to fulfil or carry out specified terms of a contract.
To offset the cost of reserving capital to honour these guarantees as and when required, certain fees may apply. If you do not have cash cover as collateral, your guarantee is subject to a quarterly commission fee, per terms and conditions.
Depending on your risk profile, a fee of between 1.9% and 3.40% of the guarantee amount is levied. This fee is levied on a quarterly basis on your guarantee contract date.
Standard Bank's pricing on GBB products remains competitive.
If you have any questions or you would like more information, please call us on 0860 109 075, or speak to a Business Banker at your nearest Standard Bank.
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