Secure private vault facilities multinational IBV International Vaults has acquired financial services firm Standard Bank's safe custody business.
“On behalf of IBV, I would like to offer our sincere compliments to Standard Bank for building such a powerful client database and business. Exclusive to only 750 members, this premium vault will feature an adjacent restaurant staffed by celebrity and international chefs, a members’ lounge and Rolls-Royce chauffeur service for high-net-worth clients. It has experienced rapid growth over the years, with branches in Sandton, Zurich and London, as well as a new premises soon to open in Dubai.
Standard Bank has introduced Inward Telegraphic Transfers to its Internet Banking platform, a simple and fast way to process incoming foreign funds.
Clients have up to 30 days to choose when they convert their incoming foreign payments into rands. The ITT feature on internet banking solves for difficulties experienced when receiving offshore payments. Simplifying and bringing in convenience remain top of mind” says Rosh Sundram, Head of International Payments Client Experience, Standard Bank Business and Commercial Clients.