Choosing a Business Bank Account in South Africa

A full guide to business bank accounts in South Africa — the documents you need, sole proprietor vs company accounts, and a side-by-side of FNB, Standard Bank, Absa, Nedbank, Capitec, TymeBank, Bank Zero and Investec with monthly fees.

Two ways to read this. The first section is the short version — what to do and which account to pick. The comparison tables lower down are the full reference. Tap Ask on this site to talk it through out loud.

Fees and account names change often. Every bank is linked below — always confirm the current price on the bank's own page before you decide.

This pairs with The Money Side of Selling Clothes You Make (pricing, deposits, WhatsApp orders), How to Register a Company on CIPC (you need that company first for a company account), and Registering for Tax on SARS eFiling (a dedicated account is what lets you prove and claim business expenses).

The short version

Just starting / selling as yourself? You don't need a company. Open a sole proprietor business account. The cheapest are R0/month: FNB First Business Zero, Absa Business Evolve, TymeBank, or Bank Zero.
Registered a company (Pty Ltd)? Then open a company account in the business's name. Most banks can do this; some need you to see a banker.
Handle a lot of cash? Look at Capitec Business (low cash-deposit fees) or Standard Bank.
Want everything on your phone, no branch? TymeBank, Bank Zero, or FNB First Business Zero.

Open one, keep your business money separate from your own, and you've done the important part.

Sole proprietor vs company account — what's the difference?

	Sole Proprietor account	Company (Pty Ltd) account
Who it's for	You, trading as yourself	A company registered at
Need to register a company first?	No	Yes — see the CIPC guide
How fast to open	Often same day, in the app	Often 1–3 days, sometimes via a banker
Looks to big clients	Personal	More professional / needed for tenders

You can start as a sole proprietor today and switch to a company account later when you register. Don't let "I haven't registered a company" stop you from opening an account now.

What documents you need

To open a sole proprietor account:

South African ID (or valid passport)
Proof of residential address less than 3 months old (utility bill, lease, or bank statement)
Proof of business address (or an affidavit if you work from home)
Your tax number

To open a company (Pty Ltd) account, also bring:

documents — CoR14.3 (registration certificate), CoR14.1 (Notice of Incorporation), and your CoR15.1 (Memorandum of Incorporation)
Beneficial ownership info (everyone who owns 5% or more)
All directors' IDs and proof of address
The company's tax number

Source for document lists: Govchain — choosing a business bank account.

The banks, side by side

Monthly fees below are the entry-level business accounts as reported in early 2026. Always confirm on the bank's page (linked) — these change.

Bank & account	Monthly fee	Best for	Open on phone?
FNB — First Business Zero	R0	Sole props who want no monthly fee + accounting tools	Yes
FNB — Gold Business	~R225+	Bigger businesses, widest branch/ATM network	Via banker
Standard Bank — BizLaunch	from R30	Start-ups wanting bundled transactions + advice	Yes
Standard Bank — MyMoBiz	~R7	Very small businesses (turnover under R5m)	Yes
Absa — Business Evolve	R0 (pay-as-you-transact)	Lumpy cashflow; pay only when you transact	Sole prop: yes
Nedbank — Business PAYU	~R70	Rewards + low-volume businesses	Via banker
Capitec Business	~R50	Cash-heavy businesses (lowest cash-deposit fees)	Yes
Capitec — Entrepreneur	R0	Sole props who already bank with Capitec	Yes
TymeBank — Everyday Business	R0	Phone-only, cash via Pick n Pay / Boxer tills	Yes
Bank Zero — Business	R0	No fees on EFTs, debit orders, card buys	Yes
Investec — Private Business	~R675	Established businesses wanting a dedicated banker	Eligibility check

Fee sources: BusinessTech — cheapest business accounts and Govchain. Note: TymeBank's brand and some products were changing in 2026 — check the TymeBank site for the current name and limits.

How to choose (quick guide)

I want the cheapest, on my phone, no company yet → FNB First Business Zero, Bank Zero, or TymeBank.
I take lots of cash → Capitec Business or Standard Bank.
My income comes in lumps → a pay-as-you-transact account (Absa Business Evolve, Nedbank PAYU) so you don't pay fees in quiet months.
I want a real person to help me → Standard Bank, FNB, or Nedbank in-branch; Investec if you qualify.
I'm registering a company for tenders → register at CIPC first, then open the account in the company's name.

Tips before you open

Open the account in the business's name once you have a company — not your personal name.
Keep business money separate from personal money. This is the single best habit. (See The Money Side of Selling Clothes.)
Watch the cash-deposit fees, not just the monthly fee — depositing cash is where small businesses quietly lose money.
A free account with high transaction fees can cost more than a R50 account with cheap transactions. Match the account to how you actually trade.

Not sure which fits you? Tap Ask and describe how your business makes and spends money.