ANYONE can open a bank account in Mzansi regardless of their nationality.
Lee-Anne van Zyl, CEO of FNB, said opening a bank account was easy if you had the right documents.
“You can open an account for as little as a R5,25 pay-as-you-use option or R53 for a bundle that has a number of benefits.
“Mzansi laws say a South African ID is not enough because the Financial Intelligence Centre Act (Fica) forces banks to need more of your personal information.”
You must bring proof of identity:
- A valid smart ID card or bar-coded ID book.
- A proof of address that is not older than three months from the date of issue.
- A minimum opening deposit which is the minimum amount needed to activate the account.
For foreign nationals living in Mzansi, there’s declaration form they must sign, as well as the following documents:
- A valid passport stating the full names and country of origin of the applicant.
- Proof of address or an official document, such as a utility bill, which reflects the applicant’s residential address, not older than three months since issued.
- The study or work permit of the foreign national in Mzansi. The bank also accepts business permits, residence permits, retired person’s permits, exchange permits, relative’s permits, medical treatment permits and visitor permits.
