Standard Bank has acknowledged the decision by the Advertising Regulatory Board (ARB) on a customer complaint regarding a specific data package on offer.
It has issued the following statement:
The bank understands that there has been some misunderstanding relating to the data offer, which is described as a ‘data scheme’ and is structured differently to what is widely available on the market.
The data scheme is a relatively new offering and has been launched by Standard Bank in response to changing consumer behaviour.
South Africans are using more digital products than ever before. However, the reality is that they are still having to pay a high price for their data purchases. It was with this in mind that Standard Bank introduced a data scheme to give subscribers an opportunity to be charged at a lower rate for data.
With this pricing structure, Standard Bank customers have the option of paying between R49 and R249 per month to take part in the scheme, which then allows them to receive a significant discount on their data fee.
The offering is unlike what most are familiar with in terms of data packages, which stands to reason why it may seem unusual to consumers.
Following the ruling, Standard Bank will look into ways of ensuring there are no ambiguities when interpreting this specific product offering and any future products that are launched by the bank. This includes reviewing the product description on the bank’s website and other related platforms.
Standard Bank aims to integrate complimentary financial and mobile services into every day encounters and reward customers by ensuring that we offer the most comprehensive and affordable mobile experience.