Best budget bank account for a business?

[Stormer12]

You act surprised, What did you expect?


Capitec is life.

hehe

 

[theratman]

You act surprised, What did you expect?


Capitec is life.

They told me no business accounts at the bank and I wasn't sure if a payment to cheese factory that's actually a ratty named account would go through but it did

 

[Zarkon]

Capitec does not have a business account and will not work.

Absa bussines lite is R99 with online banking (10 eft transactions free)
Absa bizstart R32 is a business account without internet banking

Fnb is R75 plus R4 per internet transaction

Nedbank R58 plus R8 per internet transaction

 

[RustyPrincess]

They told me no business accounts at the bank and I wasn't sure if a payment to cheese factory that's actually a ratty named account would go through but it did

No bank verifies account names against account numbers. So you could put Piet Pompies and the transaction would still go through.

 

[theratman]

Ended up using Capitec for a bit and migrated to an FNB business account once business got bought out. Lawyers set everything up for the FNB business account.

 

[Thor]

Capitec

 

[Zarkon]

Capitec

?

 

[Thor]

?

Business banking is an illusion unless you actually want to pay salaries.

If you not paying salaries then Capitec will do just fine. And it will cost you R5 bucks.

 

[silkenphoenixx]

Capitec does not have a business account and will not work.

Absa bussines lite is R99 with online banking (10 eft transactions free)
Absa bizstart R32 is a business account without internet banking

Fnb is R75 plus R4 per internet transaction

Nedbank R58 plus R8 per internet transaction

You don't legally have to have a business bank account, you can use one that's opened in your personal capacity as long as you keep your own personal finances separate. I do this - Capitec account for my side business, FNB for my personal money.

 

[Zarkon]

You don't legally have to have a business bank account, you can use one that's opened in your personal capacity as long as you keep your own personal finances separate. I do this - Capitec account for my side business, FNB for my personal money.

If you are a sole prop yes. A company needs a business account in the name of the business. Payments are done to the name of business.In your case it goes to your personal income because it is in your name which is not allowed.

Sars said the same,so i dont want trouble with sars when they might audit me and red flags go off. They are quite strict about this when i asked them.But hey you can do whatever,it's mzansi right...anything goes.

 

[silkenphoenixx]

If you are a sole prop yes. A company needs a business account in the name of the business. Payments are done to the name of business.In your case it goes to your personal income because it is in your name which is not allowed.

Sars said the same,so i dont want trouble with sars when they might audit me and red flags go off. They are quite strict about this when i asked them.But hey you can do whatever,it's mzansi right...anything goes.

I ran this plan through my accountant and he said it was fine, as long as we kept finances separate.

I dunno though, I haven't had any problems with SARS so far.

 

[Bilanelly]

You act surprised, What did you expect?


Capitec is life.

Please help I'm struggling to do this

 

[Bilanelly]

How do u create another profile on the capitec account?

 

[c10n3d_0r6]

How do u create another profile on the capitec account?

Open the app and go to Save -> Add Flexible Savings -> Give it a name (Your business name should be good).