What is FICA


FICA stands for Financial Intelligence Centre Act.
Financial institutions are required to undergo a Know Your Customer (KYC) process as part of the onboarding process. This KYC process includes the collection of FICA documents


6 Types of contracting parties

  1. Sole Proprietor/Partnership (registering in personal capacity/individual)
  2. Private Company/(Pty) Ltd (registration number ending /07)
  3. Closed Corporation/CC (registration number ending /23)
  4. Non-Profit Company/NPC (registration number ending /08)
  5. Non-Profit Organisation/NPO (registration number 000-000NPO)
  6. Trust (registration number IT 00/0000)



For a Peach merchant account, we will require the following documents before settlement can be processed, to satisfy our FICA mandate. Here is the list of documents we would need :



Sole Proprietor/Partnership (registering in personal capacity/individual)


A Sole Proprietor/Partnership is not regarded as a legal entity.

A Sole Proprietor would register and apply in their personal capacity. A partnership is between two or more persons who join together to carry a business.

There are no formalities required in order to set up a partnership, but in some cases, one could draw up a partnership agreement. They sometimes share a bank account as well - but is also not a requirement.



  1. Copy of ID
  2. Proof of Business Physical Address
    Options (all less than 3 months old):
    - Utility bill (Eskom/Municipal Rates/Telkom
    - Lease or rental agreement/invoice
    - Retail credit account (including cellphone account)
    - Bank statement reflecting the address
  3. Proof of Business Bank Account
    Options (all less than 3 months old):
    - banks statements OR a bank account confirmation letter from your bank
    (reflecting bank account holder and account number)
  4. Partnership Agreement (if applicable)

Private Company/(Pty) Ltd (registration number ending /07)

  1. Copies of IDs of Directors
  2. Proof of Business Physical Address
    Options (all less than 3 months old):
    - Utility bill (Eskom/Municipal Rates/Telkom
    - Lease or rental agreement/invoice
    - Retail credit account (including cellphone account)
    - Bank statement reflecting the address
  3. Proof of Business Bank Account
    Options (all less than 3 months old):
    - banks statements OR a bank account confirmation letter from your bank
    (reflecting bank account holder and account number)
  4. Company Registration Documents
    - The Certificate of Incorporation (CM1) or (CoR14.3)
    - Certificate to Commence Business (CM46) or (CoR14.3)
    - A most recent version of the Contents of the Register of Directors, Auditors and Officers (CM29) or (CoR39)


Closed Corporation/CC (registration number ending /23)

  1. Copies of IDs of Members
  2. Proof of Business Physical Address
    Options (all less than 3 months old):
    - Utility bill (Eskom/Municipal Rates/Telkom
    - Lease or rental agreement/invoice
    - Retail credit account (including cellphone account)
    - Bank statement reflecting the address
  3. Proof of Business Bank Account
    Options (all less than 3 months old):
    - banks statements OR a bank account confirmation letter from your bank
    (reflecting bank account holder and account number)
  4. Company Registration Documents
    - The most recent version of the Founding Statement and Certificate of Incorporation (CK1)
    - Amended Founding Statement (CK2) if applicable


Non-Profit Company/NPC (registration number ending /08)

  1. Copies of IDs of Members/Trustees
  2. Proof of Business Physical Address
    Options (all less than 3 months old):
    - Utility bill (Eskom/Municipal Rates/Telkom
    - Lease or rental agreement/invoice
    - Retail credit account (including cellphone account)
    - Bank statement reflecting the address
  3. Proof of Business Bank Account
    Options (all less than 3 months old):
    - banks statements OR a bank account confirmation letter from your bank
    (reflecting bank account holder and account number)
  4. Company Registration Documents
    - The Certificate of Incorporation (CM1) or (CoR14.3)
    - Certificate to Commence Business (CM46) or (CoR14.3)
    - A most recent version of the Contents of the Register of Directors, Auditors and Officers (CM29) or (CoR39)


Non-Profit Organisation/NPO (registration number 000-000NPO)

  1. Copies of IDs of Members/Trustees
  2. Proof of Business Physical Address
    Options (all less than 3 months old):
    - Utility bill (Eskom/Municipal Rates/Telkom
    - Lease or rental agreement/invoice
    - Retail credit account (including cellphone account)
    - Bank statement reflecting the address
  3. Proof of Business Bank Account
    Options (all less than 3 months old):
    - banks statements OR a bank account confirmation letter from your bank
    (reflecting bank account holder and account number)
  4. Company Registration Documents
    - NPO Certificate
    - Resolution (confirming persons who are authorised to establish a business relationship on behalf of the NPO.)


Trust (registration number IT 00/0000)

  1. Copies of IDs of Members/Trustees
  2. Proof of Business Physical Address
    Options (all less than 3 months old):
    - Utility bill (Eskom/Municipal Rates/Telkom
    - Lease or rental agreement/invoice
    - Retail credit account (including cellphone account)
    - Bank statement reflecting the address
  3. Proof of Business Bank Account
    Options (all less than 3 months old):
    - banks statements OR a bank account confirmation letter from your bank
    (reflecting bank account holder and account number)
  4. Company Registration Documents
    - Trust Letter/Certificate
    - Resolution (confirming persons who are authorised to establish a business relationship/enter into an agreement on behalf of the Trust.)