absa.co.za How To Open A Business Account Online : Bank

Organization : Absa Bank Ltd
Head Quarters: Johannesburg
Facility : How To Open A Business Account Online
Website : https://www.absa.co.za/business/bank-my-business/business-evolve-accounts/explore/

How To Open Absa Bank Business Account Online?

** Opening a business current account online is seamless and effortless.
** For your convenience, you can also register a new company and get a SARS tax number in one go.

Related : How to open an Absa Bank Account : www.southafricain.com/441.html

Who Can Apply?

** Sole proprietors (account opening only)
** Existing private companies (Pty Ltd) (account opening only)
** New private companies (account opening plus CIPC and SARS registration)

Required Documents

Required documents to open a business account :
** Copy of ID
** Proof of address (per business member/individual member and or director)
** Proof of physical address for a business (if absent, an affidavit required for a sole proprietor)

** Latest three months’ bank statements for a business (not applicable for new businesses and sole proprietors)
** In the absence of a bank statement for your business, three months’ bank statements on business member/owner’s personal account.

** Company registration documents (not required for sole proprietors and new private companies)
** Company resolution (only applicable if there is more than one signatory)

FAQ On Absa Bank Business Account

Who can apply for a business account online?
Any business entity seeking an Absa business account. However, only one person, normally the main applicant, can do so provided they have the mandate to act on behalf of that entity.

What information do I need to apply for a business account online?
The main application must have the business (e.g. company registration number, company address etc where applicable) and related party information. For entities that have more than one member or related party, the main applicant must have at least the names, identity numbers and email addresses of the other members. This would allow the main applicant to send a request systematically to the email addresses of the other members to complete their own details online

How do I know that my application was received?
The system will send a notification to the main applicant with the reference number of the application. For incomplete applications, the main applicant will also receive reminder notifications to complete the application online.

Do I need to make a separate application for company registration and another for account opening?
No. You can apply for an account and company registration in one go. The system will send the required information to CIPC. CIPC will generate a customer number and process your company registration application. If your company registration is successful you’ll be notified by email where you can collect your incorporation certificate. This process happens simultaneously with the processing of your Absa transaction account opening.

Who do I contact for my company registration application status?
Call the Absa contact number provided in the communication sent to you or call 0861 000 734.

What type of legal entities can register their companies with CIPC through Absa?
Currently we allow for new Private Company registrations as Close Corporations are being phased out by CIPC. Eventually existing Close Corporations will be converted to Private Companies.

I am a temporary resident in South Africa. Can I apply for company registration online?
Not at the moment. However, you can still go to a CIPC branch/office where you will be assisted through a manual application process. Once your company is registered, you can open your account online with us. Whether you’re a permanent resident or an asylum seeker/refugee, our account opening process will assist you get required legal identity documents from Home Affairs to apply for business accounts online.

Benefits of Absa Bank Business Account

Absa Bank offers a range of benefits to businesses who choose to open a business account with them. Some of the key benefits include:

Flexible Account Options:
Absa Bank offers a range of business accounts to suit different business needs, from small businesses to large corporations.

Easy Account Management:
Business owners can manage their accounts through Absa Online, which allows them to view account balances, make payments, transfer funds, and more.

Competitive Pricing:
Absa Bank offers competitive pricing on their business accounts, with low monthly fees and no hidden charges.

Business Support Services:
Absa Bank provides a range of business support services, including business loans, overdraft facilities, and credit facilities.