South African Business account
Our business current account is a transactional account that allows you to make deposits, withdrawals and payments to third parties using various channels as well as receive payments from your customers in South Africa. Cash flow management is vital for the growth of your business and you require easy-to-use transactional solutions that enable you to improve your customer collections, make deposits, withdrawals and payments conveniently and efficiently.
What does it offer me?
- Access to a secure means of paying and collecting funds
- A gateway to other tools and services such as Internet banking services through our Business Online platform to provide convenience, security and ease in transacting so that you can focus on what’s really important: Moving your business forward.
- There is no minimum balance required for a South African Business account.
- Only a minimum opening deposit of R1000
- Business Online offers you advanced security and global access, allowing you to make and receive payments and collections for both domestic and international payments from a single, easy-to-use platform, saving you time.
- Should your business need to transfer funds, or receive funds from abroad in payment of goods and services by an overseas supplier, then the Business Online International Payments solution provides you with a convenient and secure means to settle foreign debts arising from contracts involving services or the movement of goods.
What do I need to apply?
Certificate of Incorporation from registrar of companies
- Memorandum and Articles of Association
- Original certified copy of shareholders register and certified copies of the passports of all shareholders with 25% or more voting rights
- Original certified copy of the Directors list issued by the Registrar of Companies
- Signed resolution by the company submitted by the company on an original letter head:
- Authorising the opening of a Non Resident account,
- Appointing the authorised signatories,
- Authorising the bank to act on faxed/e-mail instructions (if an indemnity is to be signed) and confirming that the company will not be trading in South Africa.
- The resolution must be signed off by either the Chairman of the Board and Company Secretary or all the Company Directors.
- Three original certified copies of the relevant pages of the passport of each Director and authorised signatory, showing the passport photograph and validity dates.
- Certificate of introduction issued by the company’s current banker, should be provided on behalf of the company. The Certificate of Introduction should be submitted on an original bank letter head or via authenticated swift message and must confirm all of the following information:
- Full names of the company
- Date the account was opened (must be older than 12 months in order to qualify for an account)
- How the account has been conducted
- Name and designation of the writer of the certificate (for confirmation purposes)
How to apply?
We make it simple and easy to open non-resident accounts with financial needs in South Africa. To this end, we place at your disposal the International Non-Resident Centre, a sole point of contact that will take requests to open accounts by non-resident companies. E-mail our trained consultants on NonResAccountSupport@standardbank.co.za and they will be in touch with you very soon.