Products & services

Commercial Banking

Mercantile Bank specialises in a niche range of Treasury, Retail and Commercial products for the SME market (small/medium enterprises). We pride ourselves on our ability to offer tailor made solutions to new and existing clients. The flexibility and transparency of service and pricing is evident in the personal touch offered by the experienced teams at Mercantile Bank, from the Branches to the Dealing Room.

We offer the full range of Commercial Banking products as listed below with a personal assurance from the team that all transactions will be dealt with on a professional level and the process will ensure solutions for our valued client base.

And with our focus on your needs you can rest assured of our commitment to offering you the very best personalised and efficient service.

Borrowing Solutions

At Mercantile Bank, we have designed a number of products to cater for your business and personal borrowing needs at highly competitive rates. Our products include Asset Financing, Leasing or Instalment Finance, Term Loans, etc

Asset Finance

We offer financing for your motor vehicle and capital equipment at highly competitive rates. All our Asset Finance options (lease or instalment finance), provide you with flexible and affordable facilities suited to your needs.

Leasing

Leasing is a financial facility offered by the Bank whereby moveable, durable goods selected by the client are purchased by the Bank and then used by the client for an agreed period, paying cost related rentals.

Ownership remains with the Bank for the duration of the agreement; however, three options are available to the client on termination:

Purchase the asset from the Bank.
Sell or trade in the asset on behalf of the Bank.
Lease the asset from the Bank for a further period.

Leasing is best suited to the following:

High cost items such as motor vehicles, equipment, etc.
Businesses using goods which have either a high obsolescence or which are replaced on a regular basis.
Car Allowance users.

Key Features and Benefits:

Clients are able to lease expensive items without having to save for them first.
The repayment period and deposit can be structured to suit the client’s needs.
The client gets the benefit of any resale value.
Payment terms can be arranged to suit the client’s needs.
Repayment period ranges from 6 to 60 months.
All goods purchased must be comprehensively insured during the term of the agreement.
Interest rates are either linked to the Prime Lending Rate or Fixed for the period.

Instalment Finance

The customer purchases the goods from the Bank over a negotiated period at an agreed interest rate.
An Instalment Sale is a financial facility for moveable, durable goods selected by the client, which are purchased by the bank and then sold to the client on terms.
The client undertakes to repay the full amount plus finance charges in instalments over an agreed period. Ownership of the goods remains vested with the Bank until receipt of all amounts due, upon which ownership automatically transfers to the client.

Instalment Finance is best suited to:

Clients wishing to retain ownership of the goods
Private individuals and Car Allowance users

Key Features and Benefits:

Ownership of the goods passes to the client when the last payment is made.
Clients are able to purchase expensive items without having to save for them first.
The repayment period and deposit can be structured to suit the client’s needs.
The client gets the benefit of any resale value.
Payment terms can be arranged to suit the client’s needs (Car Allowance users).
Repayment period ranges from 6 to 54 months for private individuals and 6 to 60 months for Car Allowance users.
Minimum deposit of 10% is required for new vehicles and there is no minimum deposit required for Car Allowance users.
All goods purchased must be comprehensively insured during the term of the agreement.
Interest rates are either linked to the Prime Lending Rate or Fixed for the period.

Business Overdraft

Our Overdraft facility could give your business the advantage of greater freedom and flexibility to cover unexpected expenses for up to a year.

Key Features and Benefits:

Flexible terms - we can agree an Overdraft for any period up to one year.
Instant access with our Overdraft, your funds are ready to use when you need them.
Borrow what you need; our Account Executives and Business Managers will agree your borrowing limit with you.
Interest calculated daily and charged to your account on a monthly basis; the variable interest rate is linked to the prime rate.
Cash flow; an approved overdraft helps you smooth your cash flow and provides extra working capital when you need it most.

Business Term Loan

All businesses have different needs for loans and at Mercantile Bank we believe each customer has their own unique needs. The Business Term Loan is tailored according to the needs of the client and our Business Managers and Account Executives will structure a facility that will boost your bottom line.

Key Benefits and Features:

Flexible loan limits in line with your affordability.
You remain in total control of your business.

Commercial Property Finance

When buying a commercial property, Mercantile Bank will provide you with a Commercial Property Finance solution tailored to your needs at a highly competitive rate.

Mercantile Bank Business VISA Credit Cards

Mercantile Bank offers two types of Business VISA Credit Cards i.e. a Mercantile Bank Business Silver VISA Credit Card and a Mercantile Bank Business Gold VISA Credit Card. Both type of cards offer tailor made solutions for your business regardless of the number of employees or the size of the business.
The Mercantile Bank Business VISA Credit Cards must be settled in full at the end of each month. Repayments may be spread over a period of up to 60 months, but you have up to 55 days interest free credit on purchases when you settle the full outstanding amount before the due date.
All payments can be made through electronic transfer, cash or cheque payment or debit order from your bank Current Account.
Should you choose the debit order option, the amount will automatically be credited to your Mercantile Bank VISA Credit Card account. This option saves you running around making payments through the Branch deposit option.
All transactional costs including annual or monthly Card Fees can be found on the Mercantile Bank Pricing Guide.

Business Silver VISA Credit Card

Tailored to suit the needs of any type of business entity, the Mercantile Bank Business Silver VISA Credit Card is perfect for your daily transactions to assist in managing your business finances along with worldwide acceptance.

Key Features and Benefits:

If you are not the only one responsible for making payments, you can arrange for secondary Business VISA Credit Cards to be issued to nominated member(s) of your staff. A separate statement will be issued for each cardholder and a single statement for the company.

Business Gold VISA Credit Card

Enjoy the prestige and incredible benefits of our Mercantile Bank Business Gold VISA Credit Card, which automatically recognises your business achievements and status with a rewarding credit limit and worldwide acceptance that takes you further.

Key Features and Benefits:

If you are not the only one responsible for making payments, you can arrange for secondary Business VISA Credit Card to be issued to nominated member(s) of your staff. A separate statement will be issued for each cardholder and a single statement for the company.

The Mercantile Bank Business VISA Credit Card is an additional credit facility and is not connected to your main bank account.

Drive Card

The Drive Card is the only card you will need on the road as it is linked to your vehicle for enhanced security. It has been designed for fast, efficient and safe vehicle-related transactions.

You can use it to pay for emergency repairs and spares as well as fuel, oil and other vehicle expenses. You can even use it to pay toll fees, it’s safer than carrying cash.

Other Benefits:
The Drive Card is linked to your credit card. Linked monthly statements detail your transactions.

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Electronic Banking

BANK@bility

BANK@bility is a sophisticated, yet user-friendly Windows-based electronic banking solution for home and business use. It allows you to perform a wide range of banking functions within a secure virtual banking environment. Whilst it allows for the management of accounts, it supports the full range of banking functions associated with branch.

BANK@bility caters for both individuals and businesses and our modular structure allows you to select those modules best suited to add value to your specific Electronic Banking requirements.

BANK@bility offers:

Balances
Statements
Nominated Account Payments
Beneficiary Maintenance
Inter Bank Transfers
Once Off Payments
Mercantile Bank Interest Rates
Order a Chequebook
Request Formal Statement
Request Stop Orders
Request Stop Payment
View Indicative Foreign Exchange rates
Order Traveller's Cheques and Drafts
Secure Electronic Messaging Facility
Full Audit Facility
Issue New Users and Change Password (Operators & Signatories)
Full System Help and Version Control
Income and Expense Budgeting
Financial Calculations and Predictions
Graphs (Income & Expenses)
File Import of Creditor and/or Salary Batch Payments

Key Features and Benefits:

Extended banking hours.
Banking from an office or from home.
Reduce the risk of paying wages and/or salaries in cash, by electronically crediting employee bank accounts.
Receive sophisticated services electronically.
Reduce administration.
Process large transaction volumes.
Reduce or even eliminate cheque writing and subsequent cheque fraud.
Multiple users and multiple user levels.
Access control.
Off-line functionality-capture payments offline.
Network capability.
A full audit trail for every transaction performed on the system.
Future dated payments.

The product security uses the latest technology to ensure that your information is kept confidential. You will make use of a profile number; username, password and logon code to ensure your banking is confidential.

Key Features and Benefits:

No system software is required.
Extended banking hours.
Access is available from any personal computer linked to the Internet.
Reduce or even eliminate cheque fraud.

e-BUREAU

At Mercantile e-Bureau, we specialise in providing leading edge, cost effective, time saving, secure systems for processing and managing electronic payments and collection through the South African Banking Systems. We have a range of products to suit all enterprises, from small companies to large corporate companies. No matter the size of your business or the volume of your transactions, we have the solution.

e-BUREAU objectives:

Provide the simplest professional solution for all our clients.
Submit safe clean data into the banking system.
Manage transactions through all stages.
Automate all processing.
Provide a sound audit system.

e-BUREAU Additional Services:

Sponsored Bank
A Sponsored Bank is a Bank that provides for the financial leg of a direct collection or payment facility.

Electronic Payment Linking (EPL)
Our systems cater for payments and collections, all volumes of transactions, whether you require a full solution or batch processing.

Validation Accounts
All account numbers and credit card numbers entered into the system are validated at the point of entry.

Securing your Data
Secure movement of all data is ensured using 128 bit encryption.

Bankserv
EFT transaction clients can make use of dated, one day, or same day services.

Nominated Banking Accounts
All qualifying organisations will have their own Relationship Managers allocated, who will, in conjunction with our client, agree on the item limit, an aggregate limit and the type of sub services required.

Unpaids
All unpaid transactions will reflect with full reference details and reason codes. Unpaid transactions reflect as a single entry on the Mercantile Bank statement. A full report of all unpaid transactions is provided electronically.

Key Features and Benefits:

Secure systems with fully electronic data transfer.
Market leading systems from web hosted to local installs.
Fully automated and thus reduces workload.
Available nationwide.
Competitive pricing.
Full time development team ensuring systems are always up to date.
SMS and email and confirmations, unpaid notifications and reminders.

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Foreign Exchange

We offer full Foreign Exchange facilities. Whether you need Foreign Currency, Traveller's Cheques, Letters of Credit, Forward Exchange Contracts or Drafts, we ensure that your Foreign Exchange requirements are handled quickly and efficiently.

Drafts

The following should be taken into consideration when considering Drafts:

Drafts are not drawn on the issuing bank, but on the issuing bank's foreign correspondent.
Drafts are not a substitute for Traveller's Cheques.
Drafts are cheques and will be treated as such - some companies might want to ensure that the Draft is cleared and paid before they will release goods or perform services against it.
Electronic payments are more secure and reliable and can be used in lieu of Drafts.
Mercantile Bank branches will usually need advance notice to prepare a Draft and we recommend using registered mail services to send your cheque to the beneficiary.

Key Benefits:

Pre-pay your hotel.
Pre-pay your car hire.
Pre-pay your sightseeing tours.
Pay your foreign subscriptions.
Send a Draft as a gift or as a student allowance.

Exchange Control Services

Our International Banking/Group Settlement Division also offers the following products and services:

Open Account Foreign Payments (Payment Orders or Telegraphic Transfers Inward and Outward)
CFC (Customer Foreign Currency) Accounts
Currency Investment Accounts – Foreign Currency Accounts (FCAs)
Offshore Trade Finance

Visit any one of our branches for assistance with your export/import documentation.

Foreign Cash

If you intend travelling abroad you benefit from having some foreign currency available to pay for taxis, food, tips and other small items.

You can buy foreign notes from a Mercantile Bank branch.
For your convenience it is advisable to order your foreign notes at least 48 hours before your trip.
For charges, visit our Pricing Schedule.

Imports and Exports

Businesses all around the world are increasingly depending on buying and selling from other countries. Although the international trade environment has changed substantially over the last 100 years, the risks have essentially remained the same.

Mercantile Bank is ready to assist you with your trade documentation and adherence to exchange control regulations.

SWIFT

Electronic payments are the most commonly used method of transferring any currency. These payments are most commonly used for imports and exports, but holidaymakers may also use them. They are done using SWIFT, a worldwide electronic payment and receipts network.

Key Features and Benefits:

SWIFT transfers are secure and fast.
Pre-pay hotels, car hire and sightseeing tours.
Use to transfer student allowance.
Payments can be made in 25 different foreign currencies.
Due to time zones, payments should be made two days before the due date.

Traveller's Cheques

If you are travelling out of the country either for business or holiday you can buy Travellers Cheques directly from us.

Using your Traveller's Cheques

Safeguarding your Travellers Cheques:

Immediately sign each Traveller's Cheque in the top left corner to protect yourself in case of loss or theft.
Keep the serial numbers of your Traveller's Cheques separate from the Cheques.
Safeguard your Traveller's Cheques, as you would cash.

Spending your Traveller's Cheques:

Use them directly at hotels, shops, restaurants and services.
If your Traveller's Cheques are in the local currency, they can be spent directly for goods or services - acceptors need only watch you sign your Traveller's Cheques, compare the signatures, and give appropriate change.

Key Features and Benefits:

Travellers Cheques are welcomed throughout the world as a means of payment.
A wide range of currencies and denominations are available, offering you the flexibility you need.
Safer than cash - if lost or stolen they can be replaced virtually anywhere in the world, usually within 24 hours.
No wastage - we'll buy back your unused Travellers Cheques on your return.

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Insurance

Mercantile Insurance Brokers (Pty) Ltd (MIB), a subsidiary of Mercantile Bank Holdings Limited, has over 25 years experience in providing insurance solutions to people and businesses.

MIB employs a team of highly experienced individuals to provide professional financial services that are tailored to meet our clients’ specific circumstances.

We deal only with reputable insurance companies and, thanks to the state-of-the-art technology, are able to respond quickly to our client’s needs.

MIB is a member of the South African Financial Services Intermediaries Association and is also an Authorised Financial Services Provider.

Life Assurance

MIB offers a comprehensive solution for your life assurance needs, taking into account the following:

Estate Planning
Health Planning and Medical Aids
Investment Planning and Products
Retirement Planning

Short-Term Products

We offer personal insurance for your home, car and other belongings, as well as insurance for your business and other commercial needs.

Benefits of dealing with MIB:

MIB offer personalised service.
MIB offer a fully comprehensive insurance package.
MIB offer prompt processing of claims.
MIB have national representation through the Mercantile Bank branch network and associated brokers.

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Transacting Solutions

Business Current Account

At Mercantile Bank we believe your business needs a Current Account that saves you time and hassle leaving you with ample time to focus on running your business profitably.

To give you more time to focus on your business, our Business Current Account can be managed online or through our personalised service with our Account Executives or at any of our Business Managers in our Branches.

Key Features and Benefits:

Low charges - Our Current Account cuts your costs of running your business as our business tariffs compares well to the competition.
Cash flow - Our Current Account eases your cash flow and improves your cash management; you can apply and get an overdraft.
Convenience - If you have all your documents at hand, with us, you will have your account within a few days.
With Mercantile Bank, switching is easy and our team is ready to assist you.

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