You can change the bank account your Yoco payouts go into at any time in the Yoco Web App. You can also do it in the Yoco Mobile App – the steps are the same.
Your payouts keep going into your current bank account until your new one is approved. As long as your current account is open, you won't miss a payout while we verify the change.
Before you start
Most changes are approved within an hour. The ones that get stuck usually fail on one of these, so check them first:
The account must be in the same name as your Yoco profile. Not sure? See Can I use this bank account? below.
The account must be South African, open and transactional. It must be able to receive and send payments (e.g. a cheque/current account or a transactional savings account).
You need your phone (or email) nearby. We'll send a confirmation link to the mobile number or email address on your Yoco profile. If the number on your profile is out of date, update your mobile number first. No longer have access to it? See The link is going to a phone number I no longer have below.
Copy your account number straight from your banking app or statement. It's usually 9 to 11 digits long, which makes it easy to tell apart from your 16-digit card number.
Can I use this bank account?
I want to… | Can I change it in the app? |
Use a new account in my own name (sole proprietor) | Yes – follow the steps below. |
Use a new account in my company's name (Pty Ltd, CC, NPC, etc.) | Yes – the account must be opened with the same CIPC registration number you onboarded with. |
Move from sole proprietor to my newly registered Pty Ltd | Yes, through Support – this can't be done in the app yet. See Changing your bank account and business type below. |
Use my partner's, spouse's or a family member's account | No – the account must be in the name of the person or business verified on your Yoco profile. If they're taking over the business, they'll need to sign up with Yoco and you can transfer your devices to their profile. |
Use my personal account on a company profile | No – a company profile needs a bank account in the company's name. If your company has been deregistered and you now trade in your own name, to sign up with Yoco as a sole proprietor and you can transfer your devices to a new account. |
Use a business account on my sole proprietor profile | No – sole proprietor profiles need an account in your own name. If you've registered a company, our Support team can change your business type and bank account together. See Changing your bank account and business type below. |
Change to a CC, Partnership, NPO or Trust | No – this is a transfer of ownership. Sign up with Yoco for the new business, then transfer your devices to the new profile. |
Where to change your bank details in the Yoco App
Select Settings at the bottom of the menu. The Business details tab at the top is already selected. Scroll down to Money and select the Bank details tile. Or go straight to Bank details. Using the Yoco Mobile App? The steps are the same.
💡 Good to know: Only the profile owner can change bank details. If you log in with a staff or team member account and can't see the Change button, ask the owner to make the change.
Changing your bank account
Use these steps if your business type is staying the same.
On the Bank details page, select Change next to Current bank details.
A Requirements to change pop-up shows what the new account needs for your business type. Read it, then select I understand.
In the Change bank details panel, choose your Bank and Account type (cheque or savings), and enter your Account number.
❗Capitec or Capitec Business? They're separate options in the list, as are African Bank and African Bank Business. Pick the one your account is with.
Why can't I change the Account holder?
It's filled in from your Yoco profile, and your new bank account must be in that name.
Moving from sole proprietor to a registered company? Our Support team can change it for you. See Changing your bank account and business type below.
Not the business owner who signed up? Create a new Yoco profile in your own name and transfer ownership of your card machines to it. Account is not in my name at the top of the panel explains this too.
Partnership, NPO or Trust? You'll also need to upload a recent bank confirmation letter in the same panel, showing the account is in the organisation's name. It can take up to 7 working days for us to review it.
Select Request change. A Request received, please check your inbox message shows where we've sent your confirmation link.
Back on the Bank details page you'll now see two accounts:
New bank details – your new account, pending until you confirm the link and we've verified it.
Current bank details – your old account. Your payouts keep going here until the new account is fully approved.
💡 Good to know: You can't remove your current bank account or pause payouts to it. It can only be replaced, and that happens automatically once your new account is approved. Until then, keep your current account open so your payouts can still be paid.
Confirm the change from your phone or email. We'll send a link by SMS to the mobile number on your profile (or by email to your profile email address). Open the link and confirm your new bank details. Until you open the link, we can't start checking your new account, and your payouts keep going to your old one.
Once your new account is approved, a Bank details have been updated banner appears and your new account moves to Current bank details. Your next payout goes there.
What happens after you confirm
Most changes are approved within an hour of you confirming the link.
Some need a manual check, for example banks we can't verify automatically (Capitec Business, Mercantile, Bank Zero, Bidvest, Access Bank and Finbond), or when the account details don't fully match your profile. We'll ask you to upload a bank confirmation letter on the Bank details page. Reviews can take up to 7 working days.
Once your new account is approved, payouts usually take 1–2 working days to reflect, depending on your bank.
What does my request status mean?
What does my request status mean?
Status | What it means | What to do |
Check your email | We've sent you a link but you haven't confirmed it yet. Your new details show under New bank details, and payouts keep going to Current bank details. | Open the link from your email or SMS. Didn't get it? Select Resend confirmation. |
Verifying | We're checking your new account. | Nothing, most are done within an hour. |
Documents needed | We couldn't verify the account automatically. | Upload a bank confirmation letter on the Bank details page. |
Change required | The account didn't pass our checks – usually because it's in someone else's name. | Read the message, then cancel and submit an account in the right name. |
Bank details have been updated | Your new account has been verified and is active. | Your next payout will go there. |
Cancelled | The request was cancelled. | Submit a new request if you still want to change. |
Changing your bank account and business type
If you were a sole proprietor and have since registered a company with the CIPC, you can keep your Yoco profile and move it to your company. You can't do this in the app yet, so our Support team will make the change for you.
Before you get in touch, make sure that:
you're an active director of the company on the CIPC's records, and
you have a bank account in the company's name, opened with its CIPC registration number, that can receive and send payments.
Start a chat with Yoco Support via our in-app chat and say you'd like to change from sole proprietor to your registered company.
Share your company's CIPC registration number. If your company banks with Capitec Business, Mercantile, Bank Zero, Bidvest, Access Bank or Finbond, we can't verify the account automatically, so you'll also need to send a recent bank confirmation letter. How to download a bank confirmation letter. The consultant will let you know if they need anything else.
Your payouts keep going into your current account until the change is complete.
💡 Not listed as a director on the CIPC? Update your details with the CIPC first, then contact us.
✨ Changing to a CC, Partnership, NPO, NPC or Trust? These can't be changed on your existing profile. You'll need to sign up with Yoco for the new business and transfer ownership of your devices.
Troubleshooting
I didn't get the confirmation link
I didn't get the confirmation link
Check whether it went by SMS or email – we send it to the mobile number or email address on your Yoco profile.
Give it a few minutes, and check your spam or junk folder.
Make sure the mobile number on your profile is correct and can receive SMSes.
Still nothing? On the Bank details page, select Resend confirmation under Check your email to get a new link.
The link is going to a phone number I no longer have
The link is going to a phone number I no longer have
You'll need to update your mobile number before you can change your bank account. Changing your number in the app also sends a confirmation SMS to your current number, so if you've lost access to it, our Support team will need to make the change for you.
Start a chat with Yoco Support via our in-app chat and tell them you no longer have access to the mobile number on your profile.
Answer their security questions and send your new South African mobile number and a clear photo of your ID (front and back if you have a smart ID card). Copies and scans aren't accepted.
Once your number has been updated, log out of the Yoco App and back in, then request your bank change again. The confirmation link will go to your new number.
Still have your old number? You can change it yourself in Settings → Personal details → Edit. See How to Change your Personal Details.
💡 Good to know: Each Yoco profile needs its own mobile number. If your new number is already linked to another Yoco profile, let the Support consultant know.
I'm told the account belongs to another individual or business
I'm told the account belongs to another individual or business
This is the most common reason a change doesn't go through. The new account must be in the same name as your Yoco profile:
Sole proprietor: the account must be in your name and opened with your ID number – not a partner's, spouse's or family member's, and not a business account.
Registered business: the account must be in the business's name and opened with the same CIPC registration number – not a personal account or another company's account.
Cancel the request and submit an account that meets these rules. If the business now belongs to someone else, see Can I use this bank account? above.
I've been asked for a bank confirmation letter
I've been asked for a bank confirmation letter
Some banks can't be verified automatically, so we need an official letter from your bank:
recently issued
showing the account holder name, account number, branch code and account type
matching the details you entered in the app
We don't accept screenshots from online banking. How to download a bank confirmation letter. Upload it on the Bank details page.
My payouts are still going into my old account
My payouts are still going into my old account
Payouts only move once your new account is approved. Check the status on the Bank details page:
Check your email – you still need to open the email or SMS link (or select Resend confirmation).
Documents needed or Change required – action is needed from you.
Bank details have been updated – your next payout will go to the new account. A payout already on its way will still land in the old one.
If it's been approved for more than two working days and payouts still aren't going to your new account, contact Yoco Support via our in-app chat.
Can I remove my old bank account or stop payouts to it?
Can I remove my old bank account or stop payouts to it?
No. Your current bank account can only be replaced, not removed, and payouts can't be paused. Request a change to your new account. As soon as it's approved, it replaces the old one and your next payout goes there.
My old bank account is closed
My old bank account is closed
Until your new account is approved, we'll keep trying to pay into your closed account. Those payouts will fail and the money returns to Yoco. Submit your new bank details as soon as possible so your payouts can go to the new account. If you haven't closed your old account yet, keep it open until your new account shows as approved.
You'll need to update your mobile number before you can change your bank account. Changing your number in the app also sends a confirmation SMS to your current number, so if you've lost access to it, our Support team will need to make the change for you.
Start a chat with Yoco Support via our in-app chat and tell them you no longer have access to the mobile number on your profile.
Answer their security questions and send your new South African mobile number and a clear photo of your ID (front and back if you have a smart ID card). Copies and scans aren't accepted.
Once your number has been updated, log out of the Yoco App and back in, then request your bank change again. The confirmation link will go to your new number.
Still have your old number? You can change it yourself in Settings → Personal details → Edit. See How to Change your Personal Details.
💡 Good to know: Each Yoco profile needs its own mobile number. If your new number is already linked to another Yoco profile, let the Support consultant know.
The bank account isn't valid or can't receive payments
The bank account isn't valid or can't receive payments
Copy the account number from your banking app – account numbers are usually 9–11 digits; card numbers are 16.
Check you chose the right bank (e.g. Capitec vs Capitec Business) and account type (cheque or savings).
Make sure the account is open and can receive payments – some savings accounts can't.
I can't find where to change my bank details
I can't find where to change my bank details
Go to Settings, then Bank details under Money. If you don't see the Change button or see an error screen, you may be logged in as a staff member – only the profile owner can change bank details.
Verification requirements by business type
Business type | The new account must be… | Extra documents |
Sole proprietor / sole trader | In your name, opened with your ID number | None, unless we ask for a bank confirmation letter |
Private company (Pty) Ltd | In the company's name, opened with its CIPC registration number. You must be an active director. | None, unless we ask for a bank confirmation letter |
Close corporation (CC) | In the CC's name, opened with its CIPC registration number. You must be an active member or director. | None, unless we ask for a bank confirmation letter |
Partnership | In the partnership's name. You must be one of the partners. | Partnership agreement and a bank confirmation letter |
Non-profit organisation | In the organisation's name. You must be a director or member. | Board resolution and a bank confirmation letter. Registered NPOs/NPCs: registration details |
Trust | In the trust's name. You must be a trustee. | Trust deed, Letter of Authority from the Master of the High Court, and a bank confirmation letter |
Bank confirmation letters must be official (not screenshots) and recent. Finbond accounts always need a bank confirmation letter.
See the full list of verification requirements for individuals and businesses.
Need more help?
Start a conversation with a Yoco Support consultant via our in-app chat.