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.
The FNB Gold Business Account comes with a business coach that can be accessed through Fundaba on the FNB App. This service is free of charge.
The account has unlimited card swipes that can be performed in any store in South Africa and abroad.
Comes with free airtime, data, and electricity purchases when using the FNB digital platforms to transact.
Comes with a free FNB business call account that offers a guaranteed minimum interest rate of 2.25% per annum and account holders can save from as little as R1.00.
Bank account holders get free access to the eBucks rewards for businesses where they can earn rewards and discounts on qualifying transactions when using the FNB Gold Business Account/Debit Card.
Can use FNB to register a company with CIPC where FNB will facilitate the whole company registration process and open your FNB Gold Business Account with the bank.
FNB Gold Business Account Fees 2023
Fee Description
Gold Business Bundle
Pay As You Use
Monthly Service Fee
R99.00
R83.00/ R156 (if you are a trust entity)
Cash withdrawals at an FNB ATM
R2.30 per R100 or part thereof
R2.30 per R100 or part thereof
Cash deposits at an FNB ATM
R4.65 + R1.20 per R100 or part thereof
R4.65 + R1.20 per R100 or part thereof
Internal debit orders (Debit orders raised by FNB, WesBank, and Direct Axis)
Free
Free
Pay and Clear now transaction fee
Up to R3 000 is R10 per transaction More than R 3 000 is R45 per transaction
Up to R3 000 is R10 per transaction More than R 3 000 is R45 per transaction
Global payments within the CMA
Max 150
1 FREE, thereafter max R150 per transaction
Prepaid purchases
FNB Connect FREE All other services providers R2.70
FNB Connect FREE All other services providers R2.70
Consultant assisted Transfers
R80.00
R80.00
International currency commission and conversion fee
2.75% of the transaction value
2.75% of the transaction value
Other bank’s ATMs prepaid purchases
R15.00
R15.00
FNB Connect prepaid purchases
Free
Free
External debit order fee
R19.00
R19.00
Stop payment using digital channels
Free
Free
Stop payment at an FNB branch
R80.00
R80.00
Debit order dispute using digital channels
R5.00
R5.00
Debit order dispute at an FNB branch or telephone banking
R40.00
R40.00
Reversal of incorrect eWallet transaction
R65.00
R65.00
FNB Gold Business Account Fees 2023
Competitive Advantages of the FNB Gold Business Account
Comes with free instant business solutions.
Comes with a free business call account.
The account is flexible with different pricing options to choose from.
The account is easy to open as it can be opened online.
There are no hidden costs when it comes to maintaining the account.
The account allows for multiple cards to be taken.
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.
Conclusion
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.
He can be contacted:
Email: lethabo@rateweb.co.za
Twitter: @NtsoaneLethabo
View Comments
good day
how are you doing today?
please help my with my account for business GOLD BUSINESS ACCOUNT, Name of the Account MPHO MSIMANGO T/A UBUNTU BESIZWE and Account number is 62916810808. please can yourl make some payment inside my account, i kindly need to fund them please
thank you
mpho msimango. contact me +27633306300. cause my email is not working not using it for now
View Comments
good day
how are you doing today?
please help my with my account for business GOLD BUSINESS ACCOUNT, Name of the Account MPHO MSIMANGO T/A UBUNTU BESIZWE and Account number is 62916810808. please can yourl make some payment inside my account, i kindly need to fund them please
thank you
mpho msimango. contact me +27633306300. cause my email is not working not using it for now