Mercantile Bank

The innovative nature of entrepreneurship is what Mercantile Bank has striven for. Having over 50 years of combined experience, they’re aware of everything required to operate a profitable organisation.

You can develop your company with the aid of Mercantile Bank’s individualised service, customised solutions, price transparency, and knowledgeable, experienced, and adaptable employees.

Business banking solutions

Commercial and business banking is Mercantile Bank’s primary area of expertise. They offer clients a variety of regional and global financial services.

Their alliance banking unit provides enterprises in the sector of financial services with credit and debit cards, as well as payment services, whereas their treasury unit offers clients a broad variety of foreign currency products. Mercantile Bank positions itself as a responsive and active full-service bank by providing a variety of products and services that address the financial requirements of companies.

Reaching for the top

They work hard to meet the demands of company owners and aim to be the top corporate bank in South Africa. Mercantile Bank is a service-oriented company with enthusiastic and driven employees that understand that people are at the centre of banking.

Transactional banking, loans, foreign exchange, deposits, payment/services, and private banking designed solely for business owners are all part of the product offering. The bank prides itself on its personal touch and employs skilled, experienced, and flexible teams to deliver exceptional service. Transparency is a key value for Mercantile Bank, and it is committed to providing solution-driven service excellence across all its operations, from its business centers to its high-tech dealing room.

Acquired by Capitec in 2019

Capitec Bank acquired Mercantile Bank in November 2019 and has given Mercantile Banks a wonderful chance for the business to grow and develop.

However, for the time being, both banks will be operated separately, with business banking clients receiving service from Mercantile Bank branches and retail consumers from Capitec Bank branches. Mercantile Bank’s vision is to provide financial support as you embark on the process of building a prosperous business. Their mission is to develop entrepreneurs through fruitful collaborations.

Mercantile Bank offers a comprehensive range of credit facilities for businesses, designed to meet their specific financial needs.

Credit facilities available for businesses:

• Savings Accounts:
  • Tailored savings accounts for businesses with competitive interest rates.
• Current Accounts:
  • Convenient and secure current accounts designed for businesses' day-to-day banking needs.
• Entrepreneur Accounts:
  • Specialised accounts catering to the unique requirements of entrepreneurs, offering flexible features and benefits.
• Business Credit Cards:
  • Credit card facilities designed specifically for businesses, providing access to funds for various expenses.

Mercantile Bank offers a comprehensive range of revolving credit facilities for businesses, tailored to meet their specific needs. With competitive interest rates, these borrowing products provide flexible financing options.

Here are some of the revolving facilities available:

• Overdraft: Enjoy a prime-linked revolving facility linked to your business bank account, providing access to funds at competitive interest rates. You only pay interest on the amount utilized, not the full facility.
• Business credit card: The Gold Credit Card is linked to a loyalty program, granting access to premier Bidvest lounges at airports throughout South Africa. You can nominate executives and staff to have individual cards with separate limits, allowing easy tracking of expenses.
• Franchise financing: If you're looking to buy a franchise or already a franchisee or franchisor, Mercantile Bank's expert franchise team provides comprehensive banking solutions. From medium-term loans for franchise purchase or revamping to asset-based finance, rental finance, overdrafts, and credit cards, they cater to all aspects of franchise operations.

Mercantile Bank goes beyond traditional banking services, offering merchant services, cash solutions, internet banking, insurance, and employee benefits to support the growth and success of franchise businesses.