Standard Bank appoints dedicated used car manager

With the pressure currently placed on the motor industry, Standard Bank has made some changes to support you through these tough times, writes the bank.

One of these changes has been to appoint a dedicated used car manager to ensure that specific focus and support is given to the used car dealer.

In 2015, the end to end electronic finance process was completed which has had a positive impact on turnaround times. Recently, offers restructuring deals to allow for more approvals was implemented and has been received well. We know that one more deal can make a difference!

If you don’t already have a dealer code with us, we have included a summary of the process and documents required for the dealer code application.

Your local Standard Bank BDO will visit you at your premises to complete an application. Should you be Standard Bank banked, your BDO will see what information can be obtained internally to reduce the paperwork required from you, such as your latest audited financial statements.

Onboarding documents needed from you would be:

  • Company Profile (background, history, trading activity)
  • Latest Audited Financial Statements. If these aren’t current then the previous Audited Financial Statements and current Management Accounts can be included.
  • Current stock lists
  • Proof of banking details
  • Specimen Invoice
  • KYC documentation for Dealership and related parties in accordance with the Banks standards
  • Certified copies of company registration documents
  • Verified ID’s of all related parties and confirmation of their residential addresses
  • Copy of F&I Identity document and NCA card
  • Copy of FSP license and IGF Cover. Should you not operate as an FSP or as a juristic of an FSP, this requirement falls away.
  • Third Party compliance consent document to be signed
Once the above document has been processed and authorized, the following will be needed:
  • Master Dealer Agreement to be signed
  • Agent Agreement (Annexure A to MDA) to be signed by the F&I that will be submitting applications for you
  • Email address for delivery of the remittance advices and DIC tax invoices
  • Self-Invoicing Agreement if applicable
It should take approximately 3 weeks from receiving the onboarding documents to the issuing of the dealer code. Throughout this time your BDO will keep you updated regarding the progress.

Please contact Leon Fritz on (011)3445962 or email who will direct you to your local Standard Bank BDO.

Should you wish to speak to the dedicated used car manager, you can contact Wendy de Jager on 072 903 1027 or email

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