Business Banking

A business bank account is held in the name of your registered company or your trading name as a sole proprietor. It separates business income from personal money, produces clean statements for SARS, and is the destination for every FIX IT payout.

• Every provider who wants to receive payouts from FIX IT
• Every registered company — a company may not legally trade through a director's personal account
• Sole operators who want auditable records for tax

• Sole operators may use a personal account in their own name, provided the account holder name matches their verified identity exactly.

Payouts fail when the account holder name does not match the verified provider identity. A mismatch is also our strongest fraud signal, so unverified banking blocks earnings from being released.

• Faster, reliable payouts with no name-mismatch rejections
• Clean records for tax and for any future finance application
• A Banking Verified badge on your FIX IT profile
• Professional impression when customers pay by EFT

1. 1Choose a bank and a business account tier suited to your transaction volume.
2. 2Book an appointment and take your CIPC documents, ID and proof of address.
3. 3Open the account and request a bank confirmation letter — not just a statement.
4. 4Capture the account details in the FIX IT Business Centre exactly as they appear on the letter.
5. 5Confirm the correct universal branch code — use the bank's universal code, not a branch-specific code.
6. 6Upload the bank confirmation letter for verification.
7. 7Wait for the Banking Verified badge before expecting your first payout.

• Bank confirmation letter, stamped or digitally issued, less than three months old
• CIPC registration documents for a company account
• ID of every account signatory
• Proof of business address

Account opening: same day to 5 working days. FIX IT banking verification: 1 – 2 working days after upload.

No renewal, but re-verification is required whenever you change bank, branch or account number.

There is no single official regulator for this topic — see the contacts below.

• Your bank's business banking division
• Ombudsman for Banking Services: 0860 800 900

• You capture the account holder name, bank, account number and branch code in the Business Centre.
• We validate the branch code against the bank's universal settlement code before the record is accepted.
• You upload a bank confirmation letter and our reviewer compares every field against it.
• The account holder name must match your verified identity or registered company name.
• On approval the banking record is marked verified with a timestamp, and payouts are released for settled jobs.