Opening a Business Bank Account in South Africa

If you’re thinking of opening a business, you also need to have a business bank account that you can use to do all your business banking. There are a lot of options available out there, and the various banks will offer a variety of business banking options to new start-up businesses.

You should always compare the options to find an account offer that will work for your business and give you everything that your business will need to succeed.

A few things that you should consider include:

• the monthly fee of the bank account
• the opening balance required
• the ability to add an overdraft to the account
• the ability to add additional debit cards or petrol courts to your account
• the ability to transact on multiple platforms

When you open a new business there is so much paperwork to complete, not to mention the process of opening a business bank account. That’s why it is important to them as the consultant at your local branch to have them help you with your application as well as all the supporting documents that are needed.

Standard Bank

Standard Bank offers a business account that is easy to manage, and allows you to open it immediately at any branch, the sea statements via e-mail, have access to a variety of service banking channels, and the ability to have access to an overdraft. You can get a MasterCard or Visa business card to use for your daily transactions and money withdrawals.

ABSA Bank

ABSA offer their business clients from various business bank accounts, depending on their unique needs. They have a classic business account that offers a debit card for your day-to-day with drawers and purchases, unlimited transactions, statements by post or e-mail, one account number for life, as well as the ability to block unwanted debit orders.