3 min read · Updated 2026
Opening a business bank account in South Africa
Why freelancers should separate business money, what documents South African banks usually ask for, and how to choose an account.
Why separate it
A separate account makes your records, tax set-asides and SARS audits far easier. It also looks more professional on your invoices.
Documents banks usually ask for
- Sole proprietor: your ID, proof of address (not older than 3 months) and sometimes proof of the business, like an invoice or a trading-name letter
- (Pty) Ltd: CIPC registration certificate (CoR14.3), the IDs and proof of address of all directors, and a resolution authorising who may open the account
- Your SARS income tax number (and VAT number if registered)
Choosing an account
- Compare monthly fees against your number of transactions
- Check instant EFT, card machine and invoicing features
- Look for an accounting app that can import your statements
- Requirements differ per bank, so check the bank's own website before you go
General information only, based on South African legislation as of 2026. Confirm your situation with a registered tax practitioner or attorney.