Open a bank account

What do you need to apply for a bank account online?

For you to open a bank account, you first need to apply for one. While you can still submit a manual application form, most people prefer the ease and convenience of applying directly online.

To typically start the application process, you need only to submit your name and ID or passport number and provide your contact details, such as your mobile number or email address.

Keep in mind, at this point you have only registered or enrolled to open an account –there are still a few more steps to follow.

What do you need to open a bank account?

If you need to know what documents are required to open a bank account online in South Africa, here are the most important personal details a bank may ask for:

1. Details about your income and employment (recent payslips, letter of employment and/or bank statements showing regular deposits).
2. Stamped or verified copies of your most recent bank statements (anything from three to six months).
3. Copies of relevant documents to satisfy Financial Intelligence Centre Act (FICA) requirements. This is typically your green South African identity document or smart card ID. You will also need to show proof of residence by submitting a utility bill (water, electricity, or rates and taxes) not older than three months, or a copy of a lease agreement. All documents must clearly display your name and residential address.
4. If a bank requires proof of your qualifications as banking criteria, you may also have to submit these documents as part of the process.

Keep in mind, these steps may vary depending on the specific bank and their procedures.

How long does it take to open a bank account?

It usually takes 3-5 business days to open a bank account, depending on the bank, how complex your application is and your financial history.