# Banks refusing to open a Business account on the right permit



## hazy85 (Aug 15, 2014)

Hi All,

This is frustrating.

I applied for a change of status in April, am one of the few lucky ones, my change of status came out at exactly at 12weeks, I had applied for an endorsement to allow me to open my own business. To cut the story short, I went to FNB to apply for an account, it was nicely approved on the 15th of this month, only to be called back today by the consultant who opened the account that compliance said they have to freeze the account because the permit says Visitors (which falls under section 11(6),instead of Business Permit, don't banks get sensitisation on these issues? 

I feel so helpless.

Please help with what to do next, am losing my mind.


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## SayansiScope (Apr 19, 2014)

hazy85 said:


> Hi All,
> 
> This is frustrating.
> 
> ...


That is completely wrong, its like someone refusing you to work while having a work endorsement on the visa...


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## hazy85 (Aug 15, 2014)

Sciencescope said:


> That is completely wrong, its like someone refusing you to work while having a work endorsement on the visa...


Exactly! and am just dumbfounded and don't know what my next step should be.


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## SayansiScope (Apr 19, 2014)

hazy85 said:


> Exactly! and am just dumbfounded and don't know what my next step should be.


I suggest you speak to his/her supervisor or branch manager if that fails just go to another branch....


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## 2fargone (Jun 14, 2011)

Or go to another bank. I found Nedbank very helpful.


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## Saartjie (Mar 1, 2010)

Of all the banks I would avoid FNB because they are famous for not allowing bank accounts to foreigners. If you don't have a SA ID number you can almost count on a no. Some people have succeeded after receiving PR and subsequently their ID number but they are not many. I wouldn't even bother with them but go to one of the other big banks instead.


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## JS123 (Jul 23, 2014)

We had the same problem with FNB, and I would avoid FNB if possible. If you absolutely have to use FNB, best go to the branch and don't leave before it is sorted. It is an error on their side and most likely someone at the bank did not submit the papers or did not read properly. FNB is good for entry level banking, but as soon as your matter becomes 'complicated', they are fairly useless.


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## hazy85 (Aug 15, 2014)

JS123 said:


> We had the same problem with FNB, and I would avoid FNB if possible. If you absolutely have to use FNB, best go to the branch and don't leave before it is sorted. It is an error on their side and most likely someone at the bank did not submit the papers or did not read properly. FNB is good for entry level banking, but as soon as your matter becomes 'complicated', they are fairly useless.


I will go there tomorrow to try and sort it out, Nedbank was my first choice because my husband's accounts are there, but the lady at the branch I went to was not there for 2 days. I got frustrated and gave up. Apparently she is the only one who opens business accounts (how about that for efficient service).I guess I have no choice, to make matters worse fnb asked me for R500 deposit and am not too sure if I will get it back, thank God I didn't deposit a lot of money into the account, it would have been a disaster.

But did you finally manage to get the issue sorted out?

Thank you all.


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## JS123 (Jul 23, 2014)

hazy85 said:


> I will go there tomorrow to try and sort it out, Nedbank was my first choice because my husband's accounts are there, but the lady at the branch I went to was not there for 2 days. I got frustrated and gave up. Apparently she is the only one who opens business accounts (how about that for efficient service).I guess I have no choice, to make matters worse fnb asked me for R500 deposit and am not too sure if I will get it back, thank God I didn't deposit a lot of money into the account, it would have been a disaster.
> 
> But did you finally manage to get the issue sorted out?
> 
> Thank you all.


Funny story, actually. My husband brought a whole lot of pounds in cash. FNB opened a 'non-resident' account and advised that he deposited the money in that account, and submit his exchange slips from the UK as proof those were not funds from a SA source. We did that. They took the money and froze the account with circa R40 000 in it.... Why? Someone forgot to send with our paperwork the exchange slips. Took us a good 10 days to have access to that.

Then, when he got his work visa (which is a separate visa in the passport) he requested the account be changed to 'resident' (upon FNB advice as he was now allowed to work). Copies of both visas (relatives and work) submitted again. Follow up, no, account was not changed as he only has a 'visitors' visa. Went to the branch, explained it all, the response 'oh, I did not see the next page' - they stopped looking when they saw the first visitors visa!! 

So in the end, after a lot of drama, it was sorted. However, our address was indicated on the statements in the mail as xxx xxx Road, Cape Town, POLAND.

I could not do much but laugh at that.

I hope you get your stuff sorted, in my experience best to go to the branch and wait for in person confirmation that all is fin.


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## LegalMan (Dec 26, 2012)

JS123 said:


> ...
> 
> So in the end, after a lot of drama, it was sorted. However, our address was indicated on the statements in the mail as xxx xxx Road, Cape Town, POLAND.
> 
> ...


I just died laughing!!!


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## hazy85 (Aug 15, 2014)

LegalMan said:


> I just died laughing!!!


They have flat out refused, i have been to Nedbank, FNB, Standard bank, nothing. Apparently they no longer open bank account with permits written Visitors unless if its written Business Permit or Work permit because of the fines they received for failing to implement adequate anti-money laundering controls.

It has left me completely helpless and have no idea on what my next step should be.

Help!!!


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## JS123 (Jul 23, 2014)

hazy85 said:


> They have flat out refused, i have been to Nedbank, FNB, Standard bank, nothing. Apparently they no longer open bank account with permits written Visitors unless if its written Business Permit or Work permit because of the fines they received for failing to implement adequate anti-money laundering controls.
> 
> It has left me completely helpless and have no idea on what my next step should be.
> 
> Help!!!


That is really bad, have you tried ABSA? Maybe we were lucky last year, I just had a look at the permit again and it says in big letters 'Visitors Permit' with a hand written note at the bottom allowing work at a certain company.

Good luck!


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## hazy85 (Aug 15, 2014)

JS123 said:


> That is really bad, have you tried ABSA? Maybe we were lucky last year, I just had a look at the permit again and it says in big letters 'Visitors Permit' with a hand written note at the bottom allowing work at a certain company.
> 
> Good luck!


Thanks JS123, i will try ABSA.

:help::frusty:


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## 2fargone (Jun 14, 2011)

Or Capitec. Try them. What a hassle.


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## hazy85 (Aug 15, 2014)

2fargone said:


> Or Capitec. Try them. What a hassle.


Capitec doesn't offer business accounts, the only two options i have now are ABSA and Bidvest Bank.


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## load_shedder (Feb 12, 2015)

Hi hazy85,

I'm exactly in the same boat as you. 
I went to FNB today and was chased away for the same reason - my visa says "visitors permit" and not "business permit".

Did you manage to open a business bank account? Could you tell us how?


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## GI Coastie (Nov 24, 2014)

I went to FNB to open a personal account with my Permanent Residence permit and was refused. I then went to Nedbank and the consultant contacted FICA direct and received all the instruction they need to assist with the account while my ID is still in process. My account then received a FICA case number to ensure there would be no issues in the future. Nedbank has even given me credit on the account. I would suggest you go to the bank you want, tell the agent to contact FICA and receive the correct instructions. FICA informed the my bank agent "they are aware of the new laws and time delays we are facing as Foreign Nationals and has the steps in place to assist us". You just need an agent willing to make the call and set up the business account in the correct manner to prevent it from getting frozen.


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## hazy85 (Aug 15, 2014)

*Hazy85*



GI Coastie said:


> I went to FNB to open a personal account with my Permanent Residence permit and was refused. I then went to Nedbank and the consultant contacted FICA direct and received all the instruction they need to assist with the account while my ID is still in process. My account then received a FICA case number to ensure there would be no issues in the future. Nedbank has even given me credit on the account. I would suggest you go to the bank you want, tell the agent to contact FICA and receive the correct instructions. FICA informed the my bank agent "they are aware of the new laws and time delays we are facing as Foreign Nationals and has the steps in place to assist us". You just need an agent willing to make the call and set up the business account in the correct manner to prevent it from getting frozen.


This exactly what the Relationship Manager did for me at FNB Fourways branch, i had given up hope and was there to close the account as instructed by FNB Northgate, the lady asked me to leave everything with her, she decided to contact FICA herself. She called me 3 weeks later to activate my account,online banking and bank card. You just need a consultant who is willing to help.

I know it's frustrating.

All the Best.


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## load_shedder (Feb 12, 2015)

Hi GI Coastie,

Crazy to hear that even with a PR, FNB chased you away 

Thank you for your advice regarding FICA.
I will go to FNB on Monday with a more persistent mind, and find that angel agent.


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## load_shedder (Feb 12, 2015)

Hi Hazy,

Thank you for your insight - very helpful.

It seems like FNB contacting FICA is the solution.
I feel a whole lot more assured knowing there is a way out of this mess.

FNB Claremont, see you on Monday :boxing:


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## SayansiScope (Apr 19, 2014)

Hi Hazy85,

Actually the Nedbank system has already taken care of this, I can assure you that when opening a new bank account; an account type "spousal" which is for your typical Visitors 11(6) visa holders is there in a drop-down menu (consultant facing the PC) . However, the problem is that most of the consultants are not aware of this...you need an experienced consultant to assist. Alternatively, try to open your account in a branch where they have long experience dealing with foreigners e.g., Hatfield in Pretoria..


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## mbizi21 (Feb 7, 2015)

LegalMan said:


> I just died laughing!!!


Lol, yah funny story that, can't believe it happened in that way


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## LegalMan (Dec 26, 2012)

SayansiScope said:


> Hi Hazy85,
> 
> Actually the Nedbank system has already taken care of this, I can assure you that when opening a new bank account; an account type "spousal" which is for your typical Visitors 11(6) visa holders is there in a drop-down menu (consultant facing the PC) . However, the problem is that most of the consultants are not aware of this...you need an experienced consultant to assist. Alternatively, try to open your account in a branch where they have long experience dealing with foreigners e.g., Hatfield in Pretoria..


Hi SayansiScope and Hazy86,

My clients have always said that Standard Bank is willing to help Section 11(6) visitor's visa holders. 
It really is not fair on foreign nationals that the immigration act defaults spouses with work/business endorsements to a "Visitor's Visa" category. I hope one day this will be changed in the act.


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## SayansiScope (Apr 19, 2014)

LegalMan said:


> Hi SayansiScope and Hazy86,
> 
> My clients have always said that Standard Bank is willing to help Section 11(6) visitor's visa holders.
> It really is not fair on foreign nationals that the immigration act defaults spouses with work/business endorsements to a "Visitor's Visa" category. I hope one day this will be changed in the act.


Hi LegalMan,

Have you ever tried to consult DHA about this unconstitutional act...?


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## load_shedder (Feb 12, 2015)

Great news!
I now have a business account at FNB with my visitor's permit (Section 11(6) visitor's visa endorsed to conduct own work).

As I mentioned earlier, initially I was turned away at FNB Claremont branch because the visa didn't read "business permit". 
I then sent an email to their sales executive and included a link to this forum page, and requested them to take the matter further.
The sales executive responded by saying he would escalate the matter to the Operation Management, and the following business day I received a phone call saying I could open a business account with them and that they were sorry for the mistake they made.

I went to the bank and the account was opened without any hassle.

I took with me:

- Passport
- Proof of residence (lease agreement)
- CoR14.1
- CoR14.3
- CoR15.1A
- Share certificate

Thanks Hazy85 and GI Coastie for pointing me in the right direction!

Next stop, SARS 

p.s 
I see some negative comments here regarding FNB.
None of the banks are great - you just have to pick the best one.
From my experience, I would totally recommend FNB because of their easy to use Internet Banking, the low fees and the customer service.


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