Purchasing and exchanging foreign currency is often a costly, time-consuming, and admin-filled affair.
To remedy this, Standard Bank developed the disruptive Shyft app in 2017, providing individuals with simple and easy access to forex, international investing, cross-border payments, and in-store and online transacting.
The Shyft digital wallet saves users time and money by providing a convenient and affordable way to buy, send, store, and exchange money from their smartphones – from wherever they are.
The locally designed app was recently recognised for its outstanding innovation, winning the Best Financial Solution for 2021 at the annual MTN Business App of the Year Awards.
With an impressive 1274 entries this year, these awards celebrate the very best of South Africa’s app development talent. This is the second win at the awards for the app, as Shyft also won the MTN Business App of the Year Award in 2017 when it was launched.
“Winning the award is an acknowledgement from the industry of our ability to remain innovative and disruptive in a highly competitive market.”
“It is a recognition of our strategy to be both a client-centric organisation and a platform-led business that can compete at the highest levels of what financial services and fintech have to offer globally,” says Arno von Helden, Co-founder and Head of Shyft at Standard Bank.
With fast transactions, flat rates, and no commission fees, Shyft simplifies the experience of buying and selling foreign currency, funding offshore investments, sending money overseas, and paying for goods and services while travelling or online.
Buy, send, spend – the possibilities are endless
With Shyft, customers are in full control. Through the app, you can:
- Buy USD, GBP, EUR, and AUD instantly at a live rate.
- Spend locally in ZAR with your Shyft Physical Rand Card.
- Travel with your Shyft Physical Mastercard and spend in up to four currencies.
- Create multiple Shyft Virtual Mastercards for international and local online shopping or to fund subscription services.
- Make payments to international beneficiaries.
- Send money instantly with free Shyft to Shyft money transfers.
- Invest in the top U.S. stocks and ETFs directly from your phone.
Unlock value-added benefits
Winning the Best Financial Solution for 2021 shows that Shyft app has indeed been designed with users’ needs in mind. Not only is the user experience seamless, but users also get to benefit from the best rates, competitive transaction fees, and other game-changing features, including:
- All-inclusive, highly competitive live exchange rates.
- Flat transaction fees for payments, regardless of the transaction size.
- Low transaction fees when using a Physical or Virtual Shyft Mastercard.
- Ordering up to five Physical Rand Cards and three Multi-Currency Physical Cards.
- Storing forex in the app for as long as you want.
- Funding offshore accounts (Webtrader, Liberty, Standard Isle of Man/Jersey).
- Collecting UCount tiering points.
- Viewing forex balances and exchanging between currencies at the touch of a button.
Start transacting with Shyft
The Shyft app is free to download via the iOS and Google Play stores and is available to South African residents 18 years and older. All you’ll need is your South African ID.
Standard Bank customers with a current or transactional account can register using their account number, and foreign nationals with a valid passport, work permit, and Standard Bank account can also sign up.
Download the app before 31 October 2021 and receive R100 in your Shyft wallet.