We offer a range of tailored transactional account options, which enables you to make and receive payments through multiple channels, making your banking as hassle free as possible. For your convenience, if you are a new business owner, you can open any of our business accounts online, register your new company with the Companies and Intellectual Property Commission (CIPC) and get a South African Revenue Service (SARS) tax number in one go.
What do you need to do?
Choose an account best suited to your business needs
Open an instant account, register your business with CIPC and SARS
Opening a business current account online is seamless and effortless, and you have the option to add services such as NotifyMe, Payment Pebble, online banking and cellphone banking to help you run your business efficiently. For your convenience, if you are a new business owner you can also register your new company with the Companies and Intellectual Property Commission (CIPC) and get a South African Revenue Service (SARS) tax number in one go.
How to get it and what you can expect
Frequently asked questions
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.
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.
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.
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.
Call the Absa contact number provided in the communication sent to you or call 0861 000 734.
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.
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.
What are the accepted “legal identity documents” for asylum seekers and refugees that can be used to apply for a business account?
We currently accept one of the following; Section 22 Permit, Section 24 Permit or a maroon ID
No. For all our online application processes, there is an integrated solution for uploading supporting documents online. There is definitely no need for you to go to a branch just to submit your documents.
How will the other mandated officials acknowledge and sign the terms and conditions for applications made online?
All mandated officials will receive a notification to log onto Instant Business and access the application submitted by the main applicant. They can then read and accept the terms and conditions online. This serves as a digital acknowledgement that they understand what it means to open a business account with Absa and to say they allow Absa to go ahead and process the application.
Yes. You can apply for more than one product on the same application up to a maximum of 10 products. However you can only apply for products we offer on the Instant Business portal. Currently, we offer all business current accounts including the Liquidity Plus Savings Account.
Self Service FICA is an online process that allows existing Absa customers to remediate or update their information online. Once the information is submitted and the supporting documentation is uploaded online, an RSC Consultant will contact the client to verify information. Should the customer choose to remediate their details, be it online or at a branch, the bank holds the right to put certain restrictions on the customer’s accounts.
All existing Absa customers due for FICA remediation will be sent an sms/email notification containing details of their FICA status. This will be accompanied by a reference number and further instructions how the FICA status can be remediated.
Alternatively, the customer will be notified by their banker to remediate the FICA status of the business entity.
Financial Intelligence Centre Act 38 of 2001 South Africa introduced FICA in 2001 to help fight financial crimes such as money laundering, the financing of terrorist activities, and to protect banking customers from such crimes. According to FICA, banks must ensure that the customer information that the bank keeps is correct and up to date as it is important for banks to know their customers.
- Upon receipt of the FICA remediation notification, you would need to follow the instructions contained in the notification or go to https://www.absa.co.za/business/ and click on “FICA self-service”
- Enter the reference number as provided in the communication and provide the relevant identity number or registration number. Where the reference number is not available please use the business account number by selecting “I don’t have a reference number link”
- Update the details online and upload all required documentation
- Upon submission of the online application you will receive a communication from the Support team to verify information and process your FICA update without 48 hours
- Sole Proprietors
- Private Companies
- Close Corporations
Need more help?
Let one of our consultants assist you.
If you need more information on opening an Instant Business Account
Call us on:
0861 000 734
If you’re a new customer or you don’t bank with us
Call Business Banking on: