Are you interested in the Absa online business account in South Africa? Then check out this guide.
We will first show you what an online business account is.
What Is An Online Business Account
This is an account open through online banking, and you do not need to visit any branch to make transactions.
You can apply for a business account online if you are a sole proprietor or trader.
Businesses with three or more directors have to visit the nearest Absa branch or talk to a banker when opening an account.
Now that you understand the account, we will show you exactly how it works in South Africa.
Absa Online Business Account
Fill out the Absa business application form and submit all the required documents online.
To check your online business account application status, contact Absa through 0800 227 592 or through the number provided in the communication sent to you.
An account becomes active when you deposit into the account within seven working days after the account was opened.
If an account is not activated by then, Absa will close the account automatically.
An account cannot be used or reopened once it has been systematically closed.
There is no minimum bank account required to open an account.
You can use the account to trade in forex.
You can do all your bank transactions online through Absa online banking or the Absa mobile app with this account.
This is how an Absa online business account works in South Africa.
Now that you know how the account works, we will show you some of the Absa online business accounts in South Africa.
Types Of Online Business Accounts
Below are some of the Absa online business accounts in South Africa:
- Business Evolve Account
- Business Evolve Islamic Account
- Business Evolve Franchise Account
- Business Evolve PAYT
- Business Evolve Grow
These are some of the Absa online business accounts in South Africa.
We will now show you the requirements to own the account.
Requirements For This Digital Business Account
Below are some of the main requirements to open an Absa online business account:
- An annual turnover of up to R5 million for sole proprietors seeking to open a business evolve core
- For other online business evolve accounts, anyone can apply
- You just need a scanned copy of your South African ID or smart card, or passport
Absa will send you a reference number for your application.
A message asking you to complete your online application will be sent if the application is incomplete.
This is all you need to know about Absa online business accounts in South Africa.