Customer Due Diligence
The knowledge that an accountable institution has about its client and the institution's understanding of the business that the client is conducting with it

Customer Type Information Required Verification Documentation
Close
Corporation

Registered name:

  • Name under which the business is conducted (Trade name)
  • Registration number; and
  • Registered address.
  • Most recent version of the Founding Statement and Certificate of Incorporation (form CK1), specifying the controlling members; OR
  • Amended Registration Certificate / Amended Founding Statement (form CK2/CK2A)/COR18.1
  • The physical address from which the Close Corporation operates. If multiple addresses, the street address of the office seeking the business relationship and the Head Office address must be obtained and verified; and

NB. In the event that the business address and the physical address is one and the same, then one document confirming and indicating as such is acceptable.

Any one of the following valid documents (not older than 3 months, unless specified differently below) reflecting the name and physical address of the business:

  • Utility bill(municipal rates and taxes account or Property Managing Agent statement);
  • Bank statement on an official Bank document/form;
  • Signed lease or rental agreement - not older than 12 months;
  • Telephone account;
  • Valid television license;
  • Valid SARS document (Not E Filing documentation);
  • Subscription TV (e.g. Multichoice) statement;
  • Home loan statement from a financial institution;
  • Long/short term insurance policy documents from a Financial Services Provider;
  • Motor vehicle license/registration documents;
  • Municipal councillor letter;
  • Body Corporate/governing body letter statement
  • Tribal authority letter
  • Affidavit (Business Address Verification)- Form 3877EX
Directors
  • Full names, date of birth and identity number, residential address and contact particulars of:
  • Each member; and
  • The mandated officials who are authorized to establish a business relationship or enter into a transaction as per resolution

See requirements in the tables for Personal - in respect of members and mandated officials.

A resolution/mandate authorizing the persons as mandated officials is required.

NB. It is not necessary to verify the residential address and contact particulars of these persons - however it is necessary to obtain and record the information.

If a shareholder is not a natural person, the Identification and verification requirements for the entity or the business arrangement into which they fall needs to be applied.

PTY (Ltd)
  • Registered name;
  • Registration number; and
  • Name under which the business is conducted
  • Most recent version of the Registration Certificate (form COR14.3/COR39/COR44/ or other)
  • The physical address from which the company operates.
  • If multiple addresses, the street address of the office seeking the business relationship; and
  • Head Office address must be obtained and verified; and

NB. In the event that the head office address and operational address is one and the same, then one document confirming and indicating as such is acceptable.

Any one of the following valid documents (not older than 3 months, unless specified differently below) reflecting the name and physical address of the business:

  • Utility bill(municipal rates and taxes account or Property Managing Agent statement);
  • Bank statement on an official Bank document/form;
  • Signed lease or rental agreement - not older than 12 months;
  • Telephone account;
  • Valid television license;
  • Valid SARS document (Not E Filing documentation);
  • Subscription TV (e.g. Multichoice) statement;
  • Home loan statement from a financial institution;
  • Long/short term insurance policy documents from a Financial Services Provider;
  • Motor vehicle license/registration documents;
  • Municipal councillor letter;
  • Body Corporate/governing body letter statement
  • Tribal authority letter
  • Affidavit (Business Address Verification) – Form 3877EX
Directors
  • Full names, date of birth and identity number, residential address and contact particulars of:
    • The manager/CEO of the company;
    • The mandated officials authorised to establish a business relationship or enter into a transaction as per resolution; and
    • The natural person, legal person, partnership or trust holding 10% or more, of the voting rights at a general meeting of the company.

See requirements in the tables for Personal - in respect of members and mandated officials.

A resolution/mandate authorizing the persons as mandated officials is required.

NB. It is not necessary to verify the residential address and contact particulars of these persons – however it is necessary to obtain and record the information.

If a shareholder is not a natural person, the Identification and verification requirements for the entity or the business arrangement into which they fall needs to be applied.

Personal
  • First name and Surname;
  • ID Number

Primary identification

  • Green bar-coded identity document or identity card

*Secondary identification

  • Valid passport
  • Valid drivers license
  • Valid temporary identity document

*NB. Secondary identification is only acceptable in exceptional circumstances.

Address

Any one of the following valid documents reflecting the name and physical address:

  • Utility bill(municipal rates and taxes account or Property Managing Agent statement);
  • Bank statement on an official Bank document/form;
  • Signed lease or rental agreement - not older than 12 months;
  • Telephone account - not older than 3 months;
  • Valid television license;
  • Valid SARS document (Not E Filing documentation);
  • Subscription TV (e.g. Multichoice) statement;
  • Home loan statement from a financial institution;
  • Long/short term insurance policy documents from a Financial Services Provider;
  • Motor vehicle license/registration documents;
  • Municipal councillor letter;
  • Body Corporate/governing body letter statement
  • Tribal authority letter
  • Official employer letter for employees resident on company/institution premises;
  • Official university / Technicon registration letter;
  • Affidavit to confirm Residential Address by Co-habitant, Home Owner or Parent - Form 3122EX;
  • Declaration of Residential Address by Employer where Employee resides on the Employer's property - Form 3850EX; or
  • Declaration of Residential Address by Co-habitant, Home Owner or Parent - Form 3874EX