Having an Absa business bank account sets your business up for success. By allowing you to keep your personal and business finances separate, you can keep track of all your business expenses and incomes. Your business builds its own profile to keep all transactions professional should you need to apply for funding or other financial services.
What is a Business Evolve Account:
A day-to-day transactional account that allows you to receive and pay funds via the various Absa channels. With benefits like a debit card, Connected Banking, the Absa Banking App and a Liquidity Plus Account.
Who can use this account:
- Small and Medium Enterprises (SMEs), as well as Commercial Businesses.
Documents required to open a Business Evolve Account:
- Copy of ID (per business member/individual member and/or director).
- Proof of address (per business member/individual member and/or director).
- Proof of physical address of business (if absent, an affidavit required for a sole proprietor).
- Bank statements: Last three months (not applicable to start-up businesses and sole proprietors).
- Company registration documents (not required for sole proprietors).
- Company resolution (where more than one signatory is applicable.
Features of the product:
- Debit card: Assist with day-to-day transacting or purchasing requirements. Multiple debit cards can be issued per signatory on the account.
- Transacting channels: 24/7 access to Absa’s electronic transacting channels – Absa Online and the Banking App.
- Demand Call Account: Liquidity Plus is an interest-bearing account, that allows immediate access to your account balance.
No minimum deposit is required to open the account.
The Islamic Depositor Plus is a profit-bearing account, giving you immediate access to your account balance. No monthly account fee and minimum once-off deposit of R100 is required to open the account.
- One account number for life: The account number is retained when changing between business current account types or price packages.
- Statements: Save money by opting to view your statements on your Absa Online banking profile or via email.
- Transfer charges: If you have multiple accounts, you can transfer fees to another Absa Current Account in your name/on your profile for centralised reporting.
Unique features of a Business Evolve Account (including the Business Evolve Islamic and Business Evolve Franchise Accounts)
- No monthly fees for Absa Online, the Banking App and Liquidity Plus. Note: Liquidity Plus is not included in the Business Evolve Islamic Account.
- Unlimited, free Absa-to-Absa debit orders and inter-account transfers.
- Choice of payment plans: Pay-as-you-transact (PAYT), Business Evolve package/account plans/offers or bundle price plans.
- Tiered pricing on electronic transactions on the PAYT schemes.
- Cash deposited into the account via an Absa (ATM) or branch is available immediately.
How you can transact:
- Electronically: With debit cards, at ATMs and self-service electronic banking channels. Electronic transactions are more cost-effective than branch over the counter transactions.
- Branch: For teller-facilitated transactions.
For further information, please visit the Absa website or call our call centre on 0800 227 592.
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