A business bank account is a bank account that is used for business transactions only and not for personal finances. It can be opened in the name of the company, allowing payments to be made and received using the company’s name. What do you need for a business account in South Africa?

Valid identification documents for the business owner and any other signatories on the account. Proof of address for the owner (sole proprietors) or the business. Utility bills or similar documents are usually sufficient. Your company’s banking history: three months of bank statements are often required.