How to add my business bank account

2 min read

Quick answer #

You add your business bank account during signup, or in your merchant dashboard under Settings → Bank Account if your account is already created. Pay@ Gateway verifies the account using a penny-test deposit, which arrives within 1 business day. Once verified, all settlements are paid into this account automatically. The account name must match your business name (for Pty Ltd) or your ID name (for sole traders).

What you’ll need #

Before you start, have these to hand:

Your bank account number (the actual account number, not your card number)
Your bank’s branch code (universal codes work — see below)
A bank confirmation letter or a recent bank statement (no older than 3 months) showing the account holder name and account number

The bank confirmation letter is the cleanest option. Most SA banks let you generate one instantly through their banking app or online banking — it’s usually called “Account Confirmation Letter” or “Banking Details Letter”.

Universal branch codes for SA banks #

You don’t need to find your specific branch code. SA banks accept universal codes for all branches:

Bank	Universal branch code
Absa	632005
Capitec	470010
Discovery Bank	679000
FNB	250655
Investec	580105
Nedbank	198765
Standard Bank	051001
TymeBank	678910

Use these unless your bank has specifically given you a different code for your account type.

Step-by-step #

1. Sign in and open Bank Account settings #

In your merchant dashboard, go to Settings → Bank Account.

2. Enter your account details #

You’ll be asked for:

Account holder name — must match your business name exactly (Pty Ltd) or your ID name (sole trader)
Bank name — pick from the dropdown
Branch code — six digits, use the universal code from the table above
Account number — the actual account number, no spaces
Account type — Current (Cheque) or Savings, depending on what you opened

3. Upload the supporting document #

Upload your bank confirmation letter or recent bank statement. Accepted formats: PDF, JPEG, PNG. The document should clearly show:

The account holder name
The full account number
The bank’s letterhead, logo, or stamp

[PH-004]

4. Submit and wait for the penny-test #

[PH-005]

The penny-test deposit clears within 1 business day for most SA banks. TymeBank and Discovery occasionally take longer.

5. Confirmation #

Once the penny-test confirms, your bank account is verified and ready to receive settlements. You’ll get an email confirmation.

Common reasons verification fails #

In rough order of how often each happens:

Account holder name doesn’t match. The number-one cause. The name on Pay@ Gateway must match your business registration (Pty Ltd) or your SA ID (sole trader) exactly. If you registered as “Smith Trading (Pty) Ltd” but your bank account is in “S Smith Trading”, the names don’t match.
Wrong branch code. Less common now that universal codes are standard, but a real cause of failures.
Personal account used by a Pty Ltd. Pty Ltd company funds can only be deposited into an account in the company’s name. See Can I use a personal bank account? — Article 06.
Closed or frozen account. If the account has been closed or has a hold on it, the penny-test won’t succeed.
Inactive account. Accounts that haven’t been used for a long time sometimes get auto-suspended by the bank; reactivate before linking.

Changing your bank account later #

You can change your bank account at any time after verification. See Updating your bank account details — Article 35.

Important: bank account changes are a fraud-sensitive operation. Pay@ Gateway requires additional verification steps when you change banking details, including a cooling-off period before the first settlement to the new account.