Business bank account: the checklist banks actually use

What every bank asks a Pty Ltd for

• CIPC registration documents: the registration certificate (COR14.3) and the notice of incorporation, exactly as issued
• ID documents for every director, not just the one opening the account
• Proof of address for the business and for each director, not older than three months: a utility bill, lease or bank statement
• The company's income tax number (issued automatically with registration; find it on the CIPC confirmation or SARS correspondence)
• A directors' resolution naming who may open and operate the account, signed by all directors, if there is more than one
• A short, clear description of what the business does and where its money will come from; FICA requires the bank to ask
• Share register or beneficial ownership details for anyone holding 5% or more; banks increasingly verify this against the CIPC filing

The traps that stall applications

• Proof of address older than three months is the number one rejection, and a lease in a personal name for a company address is the second
• If the address you give differs from the CIPC registered address, either update CIPC first or bring both with an explanation
• Working from home is fine: use the home address consistently and bring the homeowner's utility bill with a simple confirmation letter if the bill is not in your name
• A missing beneficial ownership filing at CIPC now surfaces in bank onboarding checks; file it before you apply
• Banks phone the business number given; a number that rings unanswered during the check delays approval

Which account, practically

Every major bank offers a bundled small business account with monthly fees roughly between R60 and R250, and the digital banks undercut that. The honest advice: for a new business, the deciding factors are the monthly fee, how fast their FICA process is, and whether their app does invoicing or feeds your accounting tool. You can switch later; do not let account shopping delay trading. What matters more is that the account is in the company's name from day one, because SARS, customers and tenders all expect it.