Quick Facts

• First Business Zero Account: R0 monthly fee for sole traders
• Gold Business Account: R57-R60 monthly fee for growing companies
• Open online through FNB App or visit any branch
• CIPC registration required for most account types
• 24/7 fraud hotline: 087 575 9444

What is an FNB Business Account?

An FNB Business Account is a bank account designed for entrepreneurs and companies in South Africa. It helps you separate your personal money from your business money. This is important for tax purposes and for keeping proper records.

FNB offers different business accounts for different types of businesses. Whether you are a sole trader working from home or a big company with many employees, FNB has an account for you.

FNB is a division of FirstRand Bank Limited. They are an authorised financial services provider with registration number NCRCP20. This means they are properly registered and regulated in South Africa.

Types of FNB Business Accounts

FNB offers four main types of business accounts in 2025. Each account is designed for businesses of different sizes.

First Business Zero Account

This account is perfect for sole traders and small businesses. Your business does not need to be registered with CIPC to open this account.

• Monthly fee: R0 (zero)
• For businesses earning R0 to R1 million per year
• Good for single-person businesses
• No company registration needed
• Access to online banking and FNB App

Gold Business Account

This account suits growing businesses with more banking needs. You get more features and higher transaction limits.

• Monthly fee: R57 to R60
• For businesses earning R0 to R5 million per year
• More free transactions than First Business Zero
• eBucks rewards programme
• Business credit card options

Platinum Business Account

For established companies with substantial turnover. This account includes premium features.

• Monthly fee: R100
• For businesses earning R5 million to R60 million per year
• Dedicated relationship manager
• Priority service at branches
• Advanced business tools

Enterprise Business Account

For large corporations and companies with very high turnover.

• For businesses earning R60 million and above per year
• Customised banking solutions
• Specialised corporate services
• Contact FNB directly for fees and features

Requirements and Documents Needed

The documents you need depend on your business type. Here is what you must have ready before you apply.

For All Business Accounts

• Valid South African ID or passport
• Proof of residential address (not older than 3 months)
• Proof of business address
• Contact telephone number
• Email address

For Sole Proprietors (First Business Zero)

• Your South African ID or passport
• Proof of address (utility bill or bank statement)
• No company registration needed
• Minimum balance: R500 recommended

For Registered Companies (Gold, Platinum, Enterprise)

• CIPC Registration Certificate (Form CoR14.3)
• Memorandum of Incorporation
• Company tax number from SARS
• ID copies of all directors (certified)
• Proof of address for all directors
• Proof of business address
• Resolution from directors to open account

For Partnerships

• Partnership agreement (signed)
• ID copies of all partners
• Proof of address for all partners
• Proof of business address

For Foreign Nationals

• Valid passport
• Work permit or permanent residence permit
• Non-residence declaration (signed)
• Proof of South African address

CIPC Company Registration Process

Most FNB business accounts require your company to be registered with CIPC (Companies and Intellectual Property Commission). Here is how to register your company in 2025.

Step 1: Choose Your Business Structure

Decide what type of company you want to register:

• Private Company (Pty) Ltd – most common for small businesses
• Sole Proprietorship – simplest, no registration needed
• Partnership – two or more owners
• Non-Profit Company (NPC) – for community organisations

Step 2: Reserve Your Company Name

Go to the CIPC website (www.cipc.co.za). Search if your chosen name is available. Reserve the name you want. The cost is R50. Your name is reserved for 60 days.

Step 3: Complete Registration Online

You can register through CIPC’s BizPortal system. The cost is R175 for a private company. You can also use a registration agent if you need help. Agents charge between R985 and R3,500 for full service.

Step 4: Get Your Registration Certificate

CIPC processes applications in 2 to 4 business days. You will receive your CoR14.3 certificate by email. This certificate proves your company is registered. You will also get a company registration number.

Step 5: Register with SARS

After CIPC registration, register your company for tax with SARS. You will get an income tax reference number. Register for VAT if your turnover is over R1 million per year. Register for PAYE if you have employees.

Registration Step	Cost	Processing Time
Name Reservation	R50	1-2 days
Company Registration	R175	2-4 days
SARS Tax Registration	Free	Immediate online
Total DIY Cost	R225	3-6 days

✅ How to Open Your FNB Business Account

You can open an FNB Business Account in two ways in 2025. Choose the method that works best for you.

Option 1: Online Application (Fastest)

Step 1: Download the FNB App or visit www.fnb.co.za

Step 2: Click on “For My Business” or “Business Banking”

Step 3: Select “Open Business Account”

Step 4: Choose your account type (First Business Zero, Gold, etc.)

Step 5: Fill in your business details

Step 6: Upload required documents (ID, proof of address, CIPC certificate)

Step 7: Sign the application electronically

Step 8: Wait for FNB to verify your documents (2-5 business days)

Step 9: Receive confirmation email with account details

Option 2: In-Branch Application

Step 1: Find your nearest FNB branch

Step 2: Bring all required documents with you

Step 3: Ask to speak to a business banking consultant

Step 4: Complete application form with help from consultant

Step 5: Submit documents for verification

Step 6: Account activated within 2-5 business days

Fees and Charges for FNB Business Accounts (2025)

Understanding bank fees helps you manage your business money better. Here are the main fees you will pay as of December 2025.

Monthly Account Fees

Account Type	Monthly Fee	Best For
First Business Zero	R0	Sole traders, small businesses
Gold Business	R57 – R60	Growing businesses
Platinum Business	R100	Established companies
Enterprise Business	Contact FNB	Large corporations

Common Transaction Fees

Transaction Type	Typical Fee
Cash withdrawal at FNB ATM	R1.50 per R100
Cash withdrawal at other banks’ ATMs	R12 + R2.60 per R100
Cash deposit at FNB ATM	R2.60 per R100
EFT payment (online/app)	R5 – R25 (depends on amount)
Debit order setup	R15 – R30
Cash withdrawal at till (retailers)	R1.50 – R5 (first R3,000 free)
Balance enquiry at FNB ATM	Free on FNB App

✅ Account Features and Benefits

FNB Business Accounts come with many useful features to help you run your business smoothly.

Online Banking for Business

Access your account 24/7 through the FNB App or website. You can check your balance, make payments, and view statements anytime. No need to visit a branch for most banking tasks.

inContact Notifications

Get instant SMS or email alerts for all transactions over R100. Know immediately when money goes in or out of your account. This helps you spot fraud quickly.

Business Virtual Cards

Create virtual cards for online shopping and payments. These cards are available immediately on the FNB App. Safer than using your main card online.

Staff Cards and Controls

Give cards to your employees linked to your business account. You control how much they can spend. You can see all their transactions. Good for fuel, supplies, and petty cash.

eBucks Rewards

Earn rewards points on business spending. Use eBucks for fuel, shopping, flights, and more. Gold, Platinum, and Enterprise accounts get eBucks. First Business Zero does not earn eBucks.

Business Loans and Overdrafts

Once your account is active, you can apply for business loans. Overdraft facilities available for approved customers. Helps with cash flow when you need extra money.

Merchant Services

Accept card payments from customers. Get a card machine or use your smartphone. Money is deposited into your account automatically. Fees depend on transaction volume.

Accounting Integration

FNB works with popular accounting software like QuickBooks and Sage. Download your transactions directly into your accounting system. Saves time on bookkeeping.

🚨 Critical Scam Warnings for 2025

Fraud against businesses is increasing in South Africa. FNB reports new and sophisticated scams every month. Protect your business money by knowing these dangers.

Fake FNB Account Sales Scam (NEW 2025)

Criminals are selling fake FNB Business Accounts to people outside South Africa. They pretend to be FNB representatives. They use stolen IDs and fake documents to open accounts. These accounts are illegal.

What to know:

• You cannot buy an FNB account from anyone
• FNB does not operate in Zimbabwe or Mozambique
• Using a fraudulent account is a crime
• You will lose all money in these accounts
• Only open accounts directly with FNB

Business Email Compromise (BEC)

Scammers hack business email accounts. They send fake payment instructions to your suppliers or customers. They change banking details to their own accounts. Your money goes to criminals instead of legitimate recipients.

How to protect yourself:

• Never trust banking details sent only by email
• Always phone the person to confirm new bank details
• Use previously verified phone numbers (not from the email)
• Use FNB’s “Verify Owner” feature before paying
• Be suspicious of urgent payment requests

Remote Access Software Fraud

Someone phones claiming to be from FNB. They say they need to install security software on your computer. They ask you to download a programme. This gives them control of your computer and banking.

Remember:

• FNB will NEVER ask you to download software
• FNB will NEVER ask for remote access to your computer
• Hang up immediately if someone asks for this
• Call FNB directly on their official number to check

SIM Swap Fraud

Criminals swap your SIM card to their device. They receive your banking OTPs and SMS notifications. They can then access your account and steal money.

Protection steps:

• If your phone suddenly has no signal, contact your network immediately
• Add a PIN to your mobile network account
• Use the FNB App instead of SMS banking
• Report suspicious activity within 24 hours

Fake Investment Opportunities

Scammers offer business investments with guaranteed high returns. They promise 50% or 100% profit in a short time. These are Ponzi schemes. You will lose all your money.

Warning signs:

• Promises of guaranteed returns
• Pressure to invest quickly
• No clear explanation of how money is made
• Company not registered with FSCA
• Payment requested to personal accounts

Online Shopping Scams

Fake websites sell business equipment and supplies. They offer prices that seem too good. They take your payment but never deliver goods. These sites disappear quickly.

Stay safe:

• Use reputable online stores only
• Check reviews from other businesses
• Verify the company is registered
• Never pay full price upfront
• Use secure payment methods

How to Report Fraud

If you suspect fraud or have been scammed, act immediately:

FNB Fraud Hotline: 087 575 9444 (24/7)

From outside South Africa: +27 11 369 2924

What happens next:

• FNB gives you a reference number
• You must complete a fraud claim form within 3 days
• Email or fax the form to FNB
• Investigation takes about 7 working days
• FNB contacts you with outcome

⚠️ Important Consumer Rights

As a business banking customer in South Africa, you have important rights under the law.

Your Rights Under Consumer Protection

• Right to clear information about fees and charges
• Right to fair treatment by the bank
• Right to complain if service is poor
• Right to privacy of your financial information
• Right to close your account without penalties

Where to Complain

If you have problems with FNB that they do not resolve:

Banking Ombudsman: 0860 800 900

Website: www.obssa.co.za

Email: info@obssa.co.za

Financial Sector Conduct Authority (FSCA): 0800 110 443

Website: www.fsca.co.za

National Consumer Commission: 0860 003 600

For general consumer protection issues

Alternative Business Banking Options

FNB is not the only option for business banking in South Africa. Here are other banks you can consider.

Capitec Business Account

Low monthly fees starting from R79. Simple fee structure. Good mobile app. Limited branch network but strong digital banking.

Standard Bank Business Account

Large branch network across South Africa. Multiple account types for different business sizes. More expensive than FNB for similar features.

Nedbank Business Account

Good for businesses needing international banking. Strong business support services. Higher fees than FNB on some transactions.

ABSA Business Account

Good branch accessibility. Specialised sector banking (agriculture, healthcare). Competitive fees for high-volume businesses.

TymeBank Business (Coming Soon)

Fully digital bank. No physical branches. Expected to offer very low fees. Currently only available for personal accounts.

Frequently Asked Questions

Can I open an FNB Business Account if my company is not registered?

Yes. You can open a First Business Zero Account without CIPC registration. This account is designed for sole traders and informal businesses. You only need your ID and proof of address.

How long does it take to open an FNB Business Account?

Online applications take 2 to 5 business days for approval. In-branch applications may be faster if all documents are correct. Complex applications with multiple directors may take longer.

Can foreigners open FNB Business Accounts?

Yes. Foreign nationals need a valid passport, work permit or residence permit, and proof of South African address. At least one director must be a South African resident for company accounts.

Is there a minimum balance requirement?

There is no strict minimum balance. However, FNB recommends keeping at least R500 in your account. Some accounts may have minimum balances for certain benefits.

Can I upgrade my account later?

Yes. You can upgrade from First Business Zero to Gold or Platinum as your business grows. Contact FNB to discuss your options. There may be new documentation requirements.

What happens if my application is rejected?

FNB will tell you why they rejected your application. Common reasons include incomplete documents, failed FICA checks, or outstanding debts. Fix the issues and reapply.

Can I have multiple signatories on the account?

Yes. Company accounts can have multiple authorised signatories. You decide if transactions need one signature or multiple signatures. All signatories must provide ID and proof of address.

How do I close my FNB Business Account?

Visit any FNB branch with your ID. Ensure all debit orders are cancelled first. Settle any outstanding fees. Withdraw remaining money. Get written confirmation of closure.

FNB Business Accounts are a solid choice for South African entrepreneurs in 2025. The First Business Zero Account is perfect for sole traders because it has no monthly fees. This helps small businesses save money while they grow.

If your business earns more than R1 million per year, consider the Gold Business Account. The extra features and rewards can save you money in the long run. The eBucks programme helps reduce fuel and travel costs.

Always be alert for scams. Never share your banking passwords or PINs with anyone. FNB will never ask you to download software or give them remote access to your computer. If something feels wrong, it probably is wrong.

Before opening any business account, register your company with CIPC if you plan to grow. This protects your personal assets and makes it easier to get business loans later. The cost is only R175 and takes less than a week.

Compare fees from multiple banks before making your final decision. What works for one business might not work for yours. Choose the account that matches your actual banking habits, not just the one with the lowest monthly fee.