Business Savings Account
What you can expect
- Interest is calculated daily based on the balance.
- Interest is paid quarterly.
- One free withdrawal per quarter. Additional withdrawals are charged at P30.
- If you don’t withdraw in a quarter, you earn bonus interest.
- You need a minimum of P2,000 to open and operate the account.
- Form 3 (Certificate of Incorporation)
- Resolution - opening an account with Absa, stating signing arrangements, signed by ALL directors and stamped by company secretaries/for an existing account confirmation of the current signatories
- Directors’ signatories: ID documents (Omang for Batswana and passports for non-citizens)
- Address verification for the company and directors: letters of confirmation from company secretaries. Please note both the physical and postal address should be clearly stated in the letter
- 12 months’ cash flow projections for new companies or latest financial statements for existing companies
- P2,000 opening balance required to activate the account
- Directors’ source of income and source of funds (payslip) or declaration of income form to be completed