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Change your bank details for payouts
Change your bank details for payouts
Updated over a week ago

You can easily add or edit your banking details at any time, via the Yoco App or the Yoco Business Portal here.

Please Note: Your bank account must be South African and transactional (that means it can make and take payments). Typical transactional bank accounts include a current or cheque account, or a transactional savings account. If you’re unsure, it’s usually easy to check with your bank, or on your banking profile.


Changing your bank details

It’s quick and easy to edit the information in your Bank Details section under ‘Business Settings’ any time. This includes your:

  • Account Number

  • Banking Institution

  • Account Type


​Depending on what type of business structure you’re signed up as, you may need to provide extra documentation so we can verify your account.

After updating your bank details and clicking on submit, you will receive an SMS to the cell number on the Yoco profile to verify the updated bank details and you will need to confirm the change for the details to be updated.

If you edit or change your bank details, you’ll also need to resubmit any relevant documents for verifying the new details.

Quick Bank Verification Checklist


For a self-employed person/ sole trader: You must own the bank account. No proof needed.


For a Private Company (Pty) Ltd: You must be one of the Directors, and the bank account must be in the name of the registered company. You’ll also need to supply your CIPC number and confirmation of shareholding, but no other banking proof is needed.


For Partnerships: You must be one of the Partners, and the bank account must be in the name of the Partnership. You’ll also need to supply a copy of your Partnership Agreement, and a Bank Letter or Statement as proof.


For Close Corporations: You must be one of the Directors or Members, and the bank account must be in the name of the registered CC. You’ll also need to supply your CIPC number, but no other banking proof is needed.


For Non-Profit Organisations: You must be one of the Directors or Members, and the bank account must be in the name of the Organisation (whether registered or otherwise). You’ll also need to supply a Board Resolution granting you permission, and a Bank Letter or Statement as proof. If the NPO is registered with the Dept of Social Development or the CIPC, you’ll also need to provide those registration details.


For Trusts: You must be one of the Trustees, and the bank account must be in the name of the Trust. You’ll also need to supply a coy of the Trust Deed and a stamped Letter of Authority from the Master of the High Court, as well as a Bank Letter or Statement as proof.


Check out the extra verification documents checklist for more details, here.

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