Nedbank Business Account Opening Requirements
What are the Nedbank business account opening requirements? It’s something that you could be asking yourself as part of the process of establishing your business. Perhaps you are a small player looking to turn your side hustle into something big. Or maybe you are an established player looking to open an account with Nedbank. Whatever your situation, the good news is that it’s very easy to open a business account with Nedbank South Africa.
What do I need to open a Nedbank business account?
The following are the Nedbank business account opening requirements;
- Original South African IDs for the company’s directors.
- Registration details for your company if its registered. That’s essential if you wish to have the account in the company’s name.
- If your company is unregistered, then the account will be opened in your name.
What type of business accounts are offered by Nedbank?
Those are the Nedbank business account opening requirements. The process is relatively simple. You can open an account whether your company is registered or not. But what types of accounts are on offer? The following are the available business account options;
- Startup Bundle
- Business Bundles
- Business Pay-as-you-use
Here is how to get a Nedbank profile number
How do I manage my Nedbank business account?
So, far, we have given you everything that’s needed for opening a business account via Nedbank. But how does managing your account work? One thing to note is that your business account needs to be kept in use. Otherwise it will be closed.
You can have one of the company’s directors handle your business’ finances. You can also have cards made for each of the company’s directors. This is where many people fail, because some directors abuse these cards. So, you need to be careful here.
Summary
In this post, we gave you the requirements for opening a Nedbank business account. Having a business account is advantageous because it gives your business credibility.
People are much more likely to take you seriously if you have a business account than if you ask them to pay you into your personal account.
With Nedbank, it won’t take you long to open a business account. Be careful how you use that account, however. Try to avoid using your business account for personal transactions. Otherwise your business could end up in debt.
Learn how to activate Nedbank SMS notifications