Once you've signed up with Yoco, you'll be directed to complete your Yoco profile in the Yoco App (mobile or web). Only once your profile is complete and verified can you start taking payments.
Important: Please read the information related to your specific business structure carefully, as it outlines everything you’ll need to verify yourself and your business, and complete your Yoco profile.
What every business type needs
A valid email address and South African mobile number that aren't linked to another Yoco profile.
A phone or device with a working camera for the identity check (a live selfie).
South African citizens: your South African ID card, green barcoded ID book or South African passport.
International citizens and permanent residents: your valid passport and a work permit or visa issued by the Department of Home Affairs that allows you to work or run a business in South Africa (permanent residents upload their permanent residence permit).
Asylum seekers and refugees: a valid Asylum Seeker Temporary Permit, Formal Recognition of Refugee Status or Red Refugee Book, emailed to [email protected].
a South African bank account that can make and receive payments, held by the right account holder for your business type.
Bank confirmation letters
Most bank accounts are verified instantly. If we can't verify yours automatically (for example Capitec Business, Mercantile Bank, Al Baraka Bank, HBZ Bank or Old Mutual), we'll ask for an official bank confirmation letter dated within the last 3 months. Read how we verify bank accounts.
Find your business type
Business type | Registered with | Who verifies their identity |
Sole proprietor | Not registered | You, the owner of the bank account |
Private Company (Pty) Ltd | CIPC | You, plus every other director and anyone who owns 25% or more |
Close Corporation (CC) | CIPC | You, plus every other member |
Non-Profit Company (NPC) | CIPC | You, plus every other director |
Non-Profit Organisation (NPO) | Department of Social Development, or not registered | You, plus the Chairperson, Secretary and Treasurer |
Partnership | Not registered | You, plus every other partner |
Trust | Master of the High Court | You, plus the other trustees |
Please note: While some body corporates are registered with the CIPC, we don't currently onboard this type of entity.
Sole proprietor
Someone who owns and runs a business on their own and is personally responsible for its debts and profits. There's no legal distinction between the owner and the business.
Bank account
In your own name: a personal account, or a business account opened with your ID number.
Identity verification
Completed by the person who owns the bank account. You add your bank details first, then that person verifies their identity.
Documents
None, unless we ask for a bank confirmation letter.
Private Company (Pty) Ltd
A for-profit business registered as a (Pty) Ltd with the CIPC, with one or more directors.
Before you start
Check that the company is active on the CIPC and up to date with its annual returns.
Make sure you have its CIPC registration number (format YYYY/NNNNNN/NN). Can't find it? Visit the CIPC website.
Bank account
A business account opened with the company's CIPC registration number. The company name on the account isn't enough on its own.
Personal accounts, including a director's or shareholder's own account, aren't accepted.
Identity verification
Completed by an active director listed on CIPC. Your first name and date of birth must match your CIPC record.
Other people to verify
We show you the directors registered with CIPC. Add the email address and mobile number of every other director, and of anyone who owns 25% or more of the company, plus each person's ownership percentage.
Each of them gets a link to verify their identity (ID document and liveness check).
Close Corporation (CC)
A for-profit business registered as a CC with the CIPC, owned by one or more members.
Before you start
Check that the CC is active on the CIPC and up to date with its annual returns.
Make sure you have its CIPC registration number (format YYYY/NNNNNN/NN).
Bank account
A business account opened with the CC's CIPC registration number – the CC's name on the account isn't enough on its own.
Personal accounts, including a member's own account, aren't accepted.
Identity verification
Completed by an active member listed on CIPC.
Other people to verify
We show you the members registered with CIPC. Add the email address and mobile number of every other member, plus each member's member interest.
Each of them gets a link to verify their identity.
Non-Profit Company (NPC)
A non-profit company registered with the CIPC. Its name ends in NPC.
Before you start
Check that the NPC is active on the CIPC and up to date with its annual returns.
Make sure you have its CIPC registration number (format YYYY/NNNNNN/NN).
Bank account
A business account opened with the NPC's CIPC registration number. The NPC's name on the account isn't enough on its own.
Personal accounts, including a director's own account, aren't accepted.
Identity verification
Completed by an active director listed on CIPC.
Other people to verify
We show you the directors registered with CIPC. Add the email address and mobile number of every other director. There are no shareholders to add.
Each of them gets a link to verify their identity.
Non-Profit Organisation (NPO)
An organisation that serves a public or community purpose rather than making a profit, for example a school, church, sports club or Neighbourhood Watch. An NPO can be registered with the Department of Social Development (DSD) or unregistered. A Public Benefit Organisation (PBO) follows the same requirements as a registered NPO.
Bank account
In the name of the organisation, matching the organisation name you enter.
Registered NPOs: linked to the same NPO registration number (format XXX-XXX-NPO).
Identity verification
Completed by an active member of the organisation.
Documents
Signed resolution template by two other NPO members. Use our resolution template.
You'll also answer a short questionnaire about the organisation.
Other people to add
Add at least one other person who runs the NPO with you.
Partnership
A business run by two or more people (partners) who work together to make a profit.
Bank account
A joint account in the name of the partnership, opened by two or more partners.
Identity verification
Completed by one of the partners.
Documents
A copy of the partnership agreement. This sets out the roles, responsibilities and rights of each partner. Don't have one? Find out how to write one.
Other people to verify
Every partner named in the partnership agreement verifies their identity.
Trust
A legal arrangement in which trustees hold and manage assets on behalf of beneficiaries, according to the instructions of the person who created the trust.
Bank account
In the name of the Trust and trust registration number.
Identity verification
Completed by one of the trustees.
Documents
Trust Letter of Authority, listing the trustees and stamped by the Master of the High Court.
Trust Deed, listing the beneficiaries.
Other people to verify
The other trustees verify their identity.
Need more help?
Start a conversation with a Yoco Support consultant via our in-app chat.