Standard Bank, South Africa's biggest banking group, has launched an account that is specifically designed for personal use by professional advisors and their staff. The IFA Professional Demand Account is available in sterling, US dollars or euros, and includes a fee-free Visa debit card, instant access to funds, a full internet banking service and no charge if funds are transferred to other offshore accounts within Standard Bank. The account also offers competitive rates of interest, the ability to open and maintain the account with no minimum balance requirements and reduced account maintenance charges. Nigel Watson, head of Intermediary Sales at Standard Bank, said: “We are keen to offer some real benefits and added value to our key business and distribution partners in the professional marketplace. This new offering has been developed after considerable research into our IFA proposition and the take-up so far indicates that there is certainly a high demand for such a service.” In July, Standard launched its Strata account, which is targeted specifically at professional trustees and corporate service providers.