Requirements to Open Capitec Business Account

What are the requirements to open a Capitec business account? It’s something that a lot of people in South Africa have been asking about. Capitec is the biggest bank in the country in terms of customer numbers. At the moment, they have over 16 million users. You are here because you wish to join them by opening a business account with the bank. What is it that you need to have to be able to do so?

What do I need to open a Capitec business account

The following are the requirements to open a Capitec business account;

1. A South African ID number.
2. Your phone number and a phone on which you can receive an SMS
3. An email address
4. The business name
5. If your business is registered, you will need to provide your registration number
6. Information about your annual turnover

Can you open a Capitec business account online?

Those are the requirements to open a Capitec business account. You need to provide all your personal details, including your name, phone number and email address. Sole traders do not need to produce registration forms for their companies. However, if your company is registered, you will have to produce a registration number.

A lot of people are looking to open business accounts with Capitec online. Is that possible. The good news is that yes, you can open a Capitec business account online. You will be asked to provide details relating to the above requirements as part of the process.

Learn how to add a beneficiary on the Capitec app

Summary

In this article, we showed you how to open a Capitec business account. Once you have started a business, it’s important to open an account that’s separate from your personal account. What you don’t want to have is a situation where your finances end up getting mixed up.

Having a separate account ensures that you can efficiently manage your business finances. A business account allows you to carry out your fiscal obligations on time. That includes through the payment of taxis.

Having a separate account also ensures that you are protected from your business’ debt. It also helps you establish a credit history, which is essential as far as your continued operations are concerned.