Knowledgebase
Business Account
Posted by Greg S on 20 Jun 2016 14:29

A Business account on PayFast is for companies that are registered with CIPC/CIPRO. Examples of these are:

  • Closed Corporation.
  • Pty (Ltd)
  • Trust

 How do I verify my account?

To verify your account, you will need to provide us with the documentation indicated below:

This can either be submitted securely online through your account or faxed to us (Documentation must be legible).

1. Proof of company registration 

Closed Corporation (CC):

  • CK1 (Certificate of Incorporation)
  • And CK2 & CK2A (Certificate of Amended Founding Statement) (If applicable)

South African Company (Pty) Ltd:

  • Certificate of Confirmation (Most current)
  • And CM1 (Certificate of Incorporation)
  • And CM46 (Certificate to Commence Business)
  • CM9 (Certificate of Change of Name of Company - if applicable)

Trust:

  • Trust registration documentation (IT number)
  • Or the Trust Agreement / Deed of Trust

Partnership:

  • A partnership does not have a legal persona and is intrinsically tied to its members. Partnerships must register for an individual/premier account in the name of one of the partners.

2. Proof of physical address of the business

Please Note we cannot accept an invoice sent to the company as proof of physical address.

A single document is sufficient, below is a list of examples that could be used:

  • Rates and Taxes statement from Municipality / City Council
  • Or an account statement from Telkom / NeoTel / Vodacom etc.
  • Or the 1st page of lease agreement

Click here for a full list of acceptable and unacceptable documents to use for proof of physical business address

3. Proof of company bank account

Please note that we can not accept an internet banking transaction statement. A scanned paper statement or an electronically monthly statement issued by the bank are acceptable.

A single document is sufficient, below is a list of examples that could be used:

  • Bank account statement reflecting the company name and bank account number.
  • Or a letter from bank reflecting the company name and bank account number.
  • Or a cancelled cheque reflecting the company name and bank account number.

4. Proof of managing director showing:

5. Proof of one additional director (should there be more than one) showing: 

6. Proof of the PayFast account holder (if not a director) showing:


 Where do I upload the documents?

  1. Log into your PayFast account.
  2. Select the Account tab.
  3. Click on the red Verify button.
  4. Upload the necessary verification documents to your account.

Our Support team will review your documentation. Account verification usually takes one business day to complete



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