The application process for a Nedbank Merchant Account requires several documents to be provided. Below we listed some guidelines for these documents:
Nedbank forms
Credit check consent form - Alternative Bank Account for credit check if your Business Account was opened less than 6 months ago:
- Should be older than 6 months
- Should not be a savings account
- Can be your personal account
Indemnity form
- Addendum to contract between (Your Business Name) and NEDBANK
- Merchant Number will be allocated by Nedbank once generated, so you can leave this blank
Nedbank contract
- In the section Resolution (Non-natural persons only) the details of the person signing should be filled in. This person should be authorized to sign on behalf of the company
FICA
Proof of Business Bank Account
3 months banks statements OR a bank account confirmation letter from your bank:
- Not older than 3 months
- Contains the bank account number
- Is in the name of the legal entity
Proof of Address
This is the proof of address of the business. Options (all less than 3 months old):
- A utility bill, such as water, electricity or rates
- A bank statement or financial statement from a financial institution
- A copy of a signed lease agreement
- A municipal rates and taxes invoice
- A telephone account, ie. Telkom
- Correspondence from a body corporate or share–block association
Organisational Ownership and Control Structure
This is a page describing the indicate the percentage interest shareholding for every relationship in the entire structure.
Please ensure that every shareholding ‘leg’ in the organogram ends in a natural person, trust, listed entity or state-owned entity.
Below is an example of a comprehensive ownership and control structure.
Preferably take the form of an organogram, diagram or it can be hand written.
