{"id":225558,"date":"2021-03-12T14:16:24","date_gmt":"2021-03-12T13:16:24","guid":{"rendered":"https:\/\/buzzsouthafrica.com\/?p=225558"},"modified":"2021-03-12T14:16:29","modified_gmt":"2021-03-12T13:16:29","slug":"procedure-for-opening-a-business-account-with-capitec-fees-and-documents-youll-need","status":"publish","type":"post","link":"https:\/\/buzzsouthafrica.com\/procedure-for-opening-a-business-account-with-capitec-fees-and-documents-youll-need\/","title":{"rendered":"Procedure For Opening a Business Account With Capitec: Fees and Documents You\u2019ll Need"},"content":{"rendered":"

Personal accounts are not the only type of account you can open with Capitec bank. You can also open a business account. <\/span>Although Capitec bank<\/a> does not offer business accounts at the time of this post, the bank is working on business banking. This is why they recently acquired Mercantile bank. Capitec bank is working towards making the Mercantile bank its business bank. <\/span>So, if you want to open a business account with Capitec, you should consider opening an account with Mercantile bank. In this post, you will learn how to open a business account and the requirements.<\/span><\/p>\n

Capitec Bank is Moving into Business Banking<\/strong><\/h2>\n

After being declared the best bank in the world by the Lafferty Group and the second-largest retail bank in South Africa, Capitec bank is now heading toward making a name for herself in business banking. <\/span>On October 9, 2019, Capitec bank announced that their acquisition and purchase<\/a> of Mercantile bank had been formally approved by the South African Minister of Finance and other relevant regulatory bodies. What that meant was that Capitec bank was now ready for business banking.<\/span><\/p>\n

Although Capitec bank does not offer business accounts, they are working towards making Mercantile bank a household name when it comes to business banking. <\/span>Capitec bank does not offer business accounts at this stage does not mean that you cannot open a business account with them. Since they are now the legal owners of Mercantile bank South Africa, you can also open a Mercantile business account.<\/span><\/p>\n

Knowing how well Capitec bank has done in retail banking, there is no doubt that they will make a name for themselves in business banking.<\/span><\/p>\n

A Business Account Differs From a\u00a0Personal Account With Capitec Bank<\/strong><\/h3>\n
\"Capitec
image source<\/a><\/figcaption><\/figure>\n

Capitec bank is well known for its unique customer service and top-class security precautions in retail banking. <\/span>Transactions with your Capitec account are secured such that your account number or details are not required to send money to you. Even when you transfer to others, they don’t get to see your account details.<\/span><\/p>\n

As secured as retail banking with Capitec bank is, a business account with Capitec bank is completely different from a personal account. Since you can use your personal account for business, it is not professional and does not function as a business account.<\/span><\/p>\n

Capitec business banking is aimed at helping manufacturing, wholesale, retail, and transport businesses. They provide loans for businesses and investment advice, unlike personal banking. <\/span>With Capitec business banking, you enjoy the following services:<\/span><\/p>\n