Tuesday, May 28, 2024


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Salary and other income earners have a chance of winning a share of K22 million in cash prizes if they switch their salary accounts to Standard Bank Plc, a senior bank executive has said.

Head of Personal Banking Takula Kapalamula said this on Friday when the bank launched its ” Switch and Win ” promotion in Lilongwe.

He said through the promotion customers who will move their salary accounts to Standard Bank stand a chance of winning a share of more than MWK22 million in prizes including the grand prize of MWK10 million.

“At Standard Bank, we are very passionate about giving all Malawians access to advanced digital financial services, through our suite of 247 digital banking channels (USSD, App and Web). We pride ourselves in offering innovation and being one of the leading banks in the provision of digital services, which include our digital loans accessible on 247 Online in 3 minutes (for qualifying customers). We are also passionate about promoting a culture of savings while expanding the benefits from our financial inclusion initiatives that include a robust digital banking platform under 247, hence this promotion,” said Kapalamula.

He said the promotion will encourage customers to save by promoting the opening of PureSave accounts with minimum deposit balances from a threshold of MWK10,000.

“We believe that by partnering with us, more Malawians will be able to access reliable banking services and grow their wealth. Standard Bank offers class leading transaction platforms including ATMs, POS and Cash Deposit Machines (CDMs), the Bank’s Debit card continues to offer unrivalled reliability both in country and when clients travel abroad. In line with our brand purpose; “Malawi is our Home; we Drive Her Growth”, we also believe in empowering individual customers to join the ecosystem of wealth generators by setting aside money for future needs. As personal savings grow, so will the country’s overall wealth,” he said.

Among the prizes, Standard Bank will give out MWK10 million to one account holder as the grand prize at the end of the promotion. With monthly winners in four prize categories. Every month the bank will award MWK1, 000, 000 to one account holder, MWK500, 000 to 1 person, MWK200,000 to 3 people while 50 people will be winning MWK50, 000.

For non-Standard Bank clients to enter the promotion they need to open a new Standard Bank account and switch their salary to be received in the new account. Existing Standard Bank account holders need only open a new Pure Save account within the promotion period and maintain MK10,000 balance or more for the promotion period.

Kapalamula said the promotion is a gateway for customers to enjoy the bank’s efficient digital banking network available through the 247 gateway, Enterprise and Business Online, among other channels.

“Standard Bank now offers the country’s most stable, agile, and efficient digital banking system available through 247 Mobile, App and Online. We boast a very robust digital banking network and one where incidents of down-time are indeed rare,” he said.

The Personal Banking Head also touted the benefits of a Pure Save account as a convenient tool for boosting a culture of saving during tough economic times such as we are experiencing now.

“Apart from earning interest, a savings account can come in handy in case of emergencies and also for individuals who are planning for a personal milestone or activity which may include, but is not limited to, school fees, a wedding, holiday trip or celebrations,” he said.

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