• What you get

    Benefits of this account
    • 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
    Requirements for this account
    • You need a minimum of P2,000 to open and operate the account

     

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  • Documents required

    Documents required for companies to apply
    • CIPA documents
    • Address confirmation for directors and other key controllers (postal and residential)
    • Address confirmation for entity (postal and operational addresses)
    • Resolution - opening an account with Absa, stating signing arrangements, signed by ALL directors and STAMPED by company secretaries
    • Company profile stating services offered and brief background of the directors
    • Company structure stamped by company secretaries, showing the names of the key controllers/directors and the percentage shares they hold. This should not be an operational structure
    • 12 months' cashflow statements for new companies or current financials for existing companies
    • Directors source of income and source of funds (payslip) or declaration of income to be completed
    • Directors signatories' ID documents (Omang for Batswana and passports for non-citizens)
    • P2000 opening balance required to activate account
    • VAT and TIN registrations (not applicable to newly registered companies)
    • Proof of company operation i.e invoices or contract

     

    Documents required for non-companies: churches, societies and trusts
    • Certificate of registration and constitution
    • Address confirmation for the key controllers (postal and residential)
    • Address confirmation for society (postal and operational addresses)
    • Resolution - to outline updating of account KYC at Absa Bank, confirmation of appointed or current signatories and stating their signing arrangement, signed by relevant committee members and STAMPED
    • Entity structure stamped. Showing key controllers and ultimate beneficiaries
    • Latest financials
    • Key controllers’ source of income and source of funds (payslip) or declaration of income to be completed
    • Key controllers and signatories ID documents (Omang for Batswana and passports for non-citizens)
    • P2000 opening balance required to activate account
    • VAT and TIN registrations or exemption certificate
    • Authorisation letter from higher authorities to open account
    • Profile for the organisation/society
    • Proof of operation
Need more help?

Call us on:
+2673159575 (Contact centre)
0800 600 444 (BTC Toll Free)
150 (Mascom Toll Free)

Email us:
absa.commercial@absa.africa