Paying your Account  Easy Payment Options
Making payments into your BlueBean Credit Card account is easy – choose the option that best suits you:
- our Automatic Payment Option ( APO)
- pay at any Standard Bank ATM nationwide
- pay at any Standard Bank branch
- load your BlueBean Credit Card account as a beneficiary on another account
TIP: If you pay with an APO, Standard Bank ATM or Internet banking, your BlueBean account will be credited on the same day |
Automatic Payment Option ( APO)
Your BlueBean account is not only convenient, it is clever too! You can set your account to pay itself with our easy to use APO.
Simply:
- call us
- decide which account you want to settle your BlueBean account from and provide the details
- and you can choose to pay the:
- full outstanding balance every month; or
- minimum monthly payment of the outstanding balance
And it’s done!
Electronic Payment Limit
For your security, there is a monthly limit of R10,000 on electronic payments. If you need to transfer more than R10,000 please call us.
Payment Allocation
Your payment into your BlueBean Credit Card account is allocated as follows:
- First, the budget instalment is paid and any over-limit amount
- The remaining balance of the payment is paid into your straight facility
- All payments made into your BlueBean Credit Card account greater than the full outstanding closing balance on the straight facility will automatically be credited to the outstanding balance on your budget facility
EXAMPLE
If you have used your total credit limit of R1,000 and you have a budget instalment of R200 per month, your minimum payment amount is calculated as follows:
- 5% of the R1,000 balance (R50)
- plus the budget instalment (R200)
- adds up to R250
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EXAMPLE
If your total credit limit is R1,000 and you have spent R1,500 and a R200 budget instalment is due, your minimum payment amount is calculated as follows:
- The over-limit amount (R500)
- plus 5% of the R1,000 balance (R50)
- plus the budget instalment (R200)
- adds up to R750
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This example does not imply that you may exceed your account credit limit. It indicates that your minimum payment amount could be higher than you expect if you exceed your account credit limit
Arrears
Unfortunately, once your account falls behind it is very difficult to bring it back it up to date. To avoid falling into arrears, load an APO to pay at least the minimum amount due on your account every month.
Fixed Arrangements
If your account has fallen into arrears and you are unable to make the minimum payments due, you may enter into a fixed arrangement with BlueBean. This is an agreement to pay off your outstanding balance at an amount that you can afford every month.
To make a fixed arrangement, please call us on 0861 112 807:
- We will need details of your monthly income and expenses
- Your straight and budget facility will be consolidated and your BlueBean Credit Card account will be closed until the outstanding balance has been paid in full
- Once the account has been paid in full you may apply for your BlueBean Credit Card to be reinstated. Whether the BlueBean Credit Card is approved depends on how well you kept to the terms of your fixed arrangement
Early Settlement of Budget Facility
If you want to settle your budget facility early or wish to pay in a lump sum, please call us before making the payment. If we are not informed, the payment will be credited to your straight facility.
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