Using one bank to transact, save and invest
Managing your money doesn’t have to be complicated. In fact, it can be simpler and more powerful when you use one bank to transact, save and invest.
Bank accounts are financial tools to serve your needs and help you achieve your goals. Having specific accounts for specific purposes is like having the right tool for the right job, and when they’re all housed under the same roof, it could make your money management more effective.
No matter how many accounts you have, having them all at the same bank is convenient and gives you the freedom to manage your money your way while creating the best fit for whatever your finance needs are.
Let’s take a closer look at some of the reasons why having multiple accounts at the same bank could work for you.
It puts you in control
Using specific accounts for specific purposes helps you take charge of your finances. For example, a transactional account is used for your everyday needs (transport, groceries etc.) and when you need more frequent access to your money.
A savings account helps make it easier to achieve your savings targets. It helps you set money aside and earn interest to grow your money.
Having both and keeping them separate helps you organise your finances into money that needs to be available for your spending and expenses and money that’s going to help you grow your wealth.
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Tip Use our Banking App to track your spending, reach your savings goals and manage your money easily on a secure, user-friendly platform. |
You could get more perks and rewards
Having multiple accounts gives you the opportunity to unlock more value. For example, with our transactional accounts and credit cards, you can earn Rewards Points through our UCount Rewards programme.
This means you can save money by earning Rewards Points when you spend at selected Rewards Retailers, access lifestyle and travel benefits, enter exciting competitions, and enjoy member-only offers and deals.
Keep personal and business accounts separate yet connected
If you run a business and also bank personally, having both accounts at Standard Bank gives you the best of both worlds.
You can manage it from a single platform with our Banking App or Online Banking so that you’re always on top of what your money is doing, and you get to capitalise on a wider range of benefits, as well as your relationship with us.
It’s convenient and easy to use. Everything is in one place, making it simple, safe and secure to manage your money from any one of our self-service channels:
- A single platform to access your account, no need to remember multiple passwords
- Instant transfers between accounts
- Open new accounts or make changes to your banking products quickly
- Bank anytime, anywhere
It builds your financial profile
If you successfully manage multiple accounts, it shows that you can manage money well, which could positively impact your credit score and make it easier next time you need to apply for a loan or financing.
A good indicator of healthy financial habits is making regular deposits into your savings account while keeping your transactional account in good standing.
It helps you meet multiple goals
When you have multiple accounts with the same bank, it gives you the opportunity to expand your financial abilities. Having both a transactional account and savings account means you can organise your finances purposefully into designated accounts for saving and for spending.
Instead of pooling all your money in one place, consider this setup:
- Account 1: Monthly expenses
- Account 2: Emergency savings
- Account 3: Long-term goals (e.g. a holiday or home deposit)
This breakdown can assist you to track each goal separately, stay motivated as your balances grow and avoid dipping into funds set aside for something else.
You can manage your money simpler with our self-service options to help you make the most of it.
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Disclaimer: This article is solely intended for information. It does not constitute financial, tax or investment advice or recommendation. Please speak to a financial advisor or registered financial professional before making any financial decision(s).
Standard Bank, its subsidiaries or holding company, or any subsidiary of the holding company and all of its subsidiaries make no warranties or representations (implied or otherwise) as to the accuracy, completeness or fitness for purpose of the information provided in this article or that it is free from errors or omissions.
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