Business bank account

[Heinie_V]

I want to start a new business but to register with suppliers I need a business bank account. It will only be a part-time / sideline business and due to the high banking fees of a business account I do not want to do this from the start.

I know Nedbank is not that expensive but had a account with them before and was not happy.

Now I would like to know the following, I have a Capitec account where I save some money in every now and then. If I use this Capitec account (transaction account) and rename that account to the name of the business, would that be sufficient or would that not work?

Thank you for any assistance

 

[c10n3d_0r6]

That depends on your suppliers. There's really no reason that I can think of to use a real "business" account if you don't need the features they provide. You could also create a separate new savings account with Capitec for free and then rename it to your business name to keep things separate. Capitec actually advised me to do this when I inquired about a business bank account there a few years back. You might need something more suited to a business later, but I found this more than adequate when starting out.

 

[Bryn]

I want to start a new business but to register with suppliers I need a business bank account. It will only be a part-time / sideline business and due to the high banking fees of a business account I do not want to do this from the start.

I know Nedbank is not that expensive but had a account with them before and was not happy.

Now I would like to know the following, I have a Capitec account where I save some money in every now and then. If I use this Capitec account (transaction account) and rename that account to the name of the business, would that be sufficient or would that not work?

Thank you for any assistance

Stay the hell away from Nedback. I sat down with all the major banks earlier this year and their offerings were by miles the worst. And their staff were downright rude despite me just chilling calmly in my seat and asking questions.

In the end I chose FNB. Their technology seems a cut above the rest, the monthly fee includes more stuff, eBucks seemed like something I should get into, I liked their staff much more, the branch is nearby and pleasant to use, the mobile app is loaded with useful features etc.