Owning a business often comes with a number of advantages and disadvantages. Having the right business tools can make operations easier.
As one of the largest banking institutions in South Africa, Absa Bank provides assistance for small businesses.
Through the Absa Growing Business Account you can get access to business banking to suit your transactional needs.
What are the qualifying criteria?
The account is available to registered businesses with an annual turnover of between R10 million and R100 million.
It is also open to anybody who wants to be registered as a private company.
- Copy of ID (per director/member)
- Proof of address (per member)
- Proof of physical address of the business (an affidavit s required for sole proprietors)
- 3 months’ bank statements on a personal account
- Company registration documents
- Company Resolution
What are the features of the Absa Growing Business Account?
Account holders are given a business debit card for transactions.
There is a monthly account fee of R128 as well as a monthly cheque service fee of R75.
There is an option to personalise your account and debit card.
There is unlimited channel access.
Absa gives you the option to open an unlimited number of business accounts.
You get help for your day-to-day banking needs from a dedicated team of bankers on call. For assistance from this team, call: 0860 040 302.
You have the benefit of being able to use one business account for life.
You get to benefit from extra services at no cost, such as a concierge service as well as business legal advice.
Absa Growing Business Account holders get to benefit from business support from Enterprise Development Centres.
To speak to an Absa consultant about the Absa Growing Business Account, call: 0861 000 734