The FNB Gold Business Account is a basic checking account for businesses. The account is intended for micro-companies, small businesses, and closely held companies that are registered as startups. The FNB Gold Business Account is a simple day-to-day transaction account that allows for a quick and easy purchases in-store and online.
If you have a Gold Business Account, you will be able to easily purchase goods and services both locally and internationally. The Department of Trade and Industry (DTI) has collaborated with FNB through internet banking to assist individuals in registering businesses through the companies and intellectual property commissions (CIPC). Individuals can now register their businesses while also opening a bank account with FNB.
FNB Gold Business Account Summary
The FNB gold business account is a business cheque account that is available for registered businesses with an annual revenue that ranges between R0.00 to R5,000,000.00. The FNB gold business account has 4 pricing options that include:
Pay As You Use (PAYU) option which charges a monthly fee of R83. Trust entities are charged a monthly fee of R156.00 for the account;
Gold Business Account option which charges a monthly account fee of R99.00;
Single fee pricing option 1 which charges a monthly account fee of R299.00; and
Single fee pricing option 2 which charges a monthly account fee of R399.00.
FNB Gold Business accounts include access to FNB’s digital banking platforms. Account holders have access to a 24-hour business desk that can assist with any banking needs. Furthermore, account holders receive free business coaching lessons from Fundaba via the FNB app.
Benefits of the FNB Gold Business Account
Comes with 4 pricing options to choose from which includes a single fee pricing option, Pay As You Use pricing option, single fee pricing option 2, and gold business bundle option.
The account is flexible enough to accommodate both the heavy transacting clients and those that transact less.
You get access to the FNB instant solutions which includes:
Comes with free access to the FNB Instant accounting software which uses FNB electronic bank statements to generate financial statements and reports that include income statements, balance sheets, cash flow statements, and more.
Access to instant accounting insights whereby you get your business’s performance laid-out in charts and reports.
Registered accountants can make use of the Instant Accounting for Accountants.
Competitive Disadvantages of the FNB Gold Business Account
The monthly service fee is higher when compared to many entry-level business cheque accounts in South Africa.
How to qualify for the Account
Must be a registered company in South Africa.
Have an annual revenue that ranges between R0.00 to R5,000,000.00.
Have green barcoded ID books or Smart cards for the directors of the company.
Proof of address for the company owners.
Company documents that must include the company registration certificate.
Company’s income tax number.
The FNB Gold Business Account is the best way to start your business banking at FNB. Your business doesn’t need much to qualify for the account. All that is needed is for the company to be registered in the republic, have a tax number, all have directors’ details including a signed mandate by other directors and registration certificate.
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Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips.
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