Learn more about bank accounts
A bank account is a safe and convenient way to manage your money. Some bank accounts can be opened online, while others have to be opened in-branch. To open an account, all you need is your ID book and proof of residence.
Bank accounts
Why your bank needs your latest details
Banks are legally required to know who their customers are and make sure their information is up to date. This process is called Know Your Customer (KYC). It’s part of the Financial Intelligence Centre Act 38 of 2001 (FICA), which helps fight against things like money laundering and fraud.
