It’s important when you’re completing your Yoco profile that your business details are accurate, especially your business type. This helps us set up your account correctly and makes sure you’re ready to start taking payments without delays.
If you're completing your Yoco profile and you've selected the wrong business type, e.g. you chose (Pty) Ltd and you should have chosen Partnership, or your chose Sole Proprietor and you should have chosen NPO, you can update it quickly – as long as your Yoco profile hasn't been activated yet.
Why is choosing the right business type so important? During the verification process, we verify that your business details match the bank account details you submit. If they don’t, we can't process your payouts.
Click here to find out how you bank account needs to be structured for your specific business type.
Updating your business type (before your profile is activated)
Select the Activate profile button on the pop-up to view your remaining onboarding steps.
Go to the Add your bank account task and select Submit bank details.
Select the arrow to the right of your name/business name in the Account holder field.
When the pop-up appears, select the Change button.
If there are any CIPC-registered businesses linked to your ID number, they'll appear on screen. Choose the one you're linking to your Yoco profile and select the Continue button. If you choose the wrong business in this step, repeat steps 4–6 above.
If you don't want to link your Yoco profile to any of the CIPC-registered businesses that appear, or you want to change your business type completely, select the Sign up for a different business link.
💡 Good to know: If there are no CIPC-registered businesses linked to your ID number, you'll automatically be directed to change your business type.
Choose the correct business type from the dropdown list.
Once you’ve updated your business type and completed a short questionnaire about your business, we’ll continue reviewing your details so you can start getting paid.
Need more help?
Start a conversation with a Yoco Support consultant via our in-app chat.