The application process for a Nedbank Merchant Account requires several documents to be provided. Below we listed some guidelines for these documents:
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
- Addendum to contract between (Your Business Name) and NEDBANK
- Merchant Number will be allocated by Nedbank once generated, so you can leave this blank
- 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
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.