Overview

Our business account is simple to manage, and allows you to transact in the way that is most convenient for you, from traditional branch banking to using our advanced electronic services, including Internet banking and new Business Online.

The account is linked to a Business AutoBank card which is the key to business remote banking. This enables you to:

• Access all our banking channels.
• Do your banking on the Internet, by telephone, cellphone and at our AutoBank centres.
• Pay for business purchases at merchants displaying the Maestro sign.

The security features built into your Business AutoBank card let you issue cards to as many employees as you want. You are able to manage the monthly limits on the issued cards.

Business AutoBank card

Your Business AutoBank card is linked to your business account and gives you full control and management of your business accounts. With it, you can also do your banking over electronic banking channels.

Electronic account payments

You can apply for an electronic account payment limit from your home branch. The limit should be equal to the average number of deposits or withdrawals (cash and cheque) on your account.

Where the limit requested is more than your monthly turnover additional information such as projected cash flow must support the application. Any application to load or increase limits must be signed by the account holder.

Opening a Business Account –

Documents required per legal entity to open a Business account with Standard Lesotho Bank. Please ensure that you bring all original documents.

• Unlisted Company
• Listed Company
• External Company
• Co-operative
• Partnership
• Sole Proprietor
• Body Corporate
• Informal Body
• Trusts
• Attorney trust account
• Deceased Estates
• Insolvent Estates/In Liquidation
• Acceptable forms of verification
• Acceptable forms of identification

Unlisted Company

• Certificate of incorporation.
• Memorandum of Association.
• Articles of Association.
• Certificate of change of name of company.
• Identification documents of directors, signatories, principal executive officer, shareholders. with 25% or more voting rights and persons acting on behalf of company.^**
• Proof of physical or trading address of business.
• The last 3 months bank statements of business (if existing).

Listed Company

• Certificate of Incorporation.
• Memorandum of Association.
• Articles of Association.
• Certificate of change of name of company (if applicable).
• Proof of Listing (print out from Stock Exchange).
• Group Structure (if wholly owned subsidiary of listed company).
• Identification documents of signatories.

External Company

• Certificate of registration of memorandum of external company.
• Proof of listing of a company listed on a foreign stock exchange.
• Official incorporation documents from relevant foreign country.
• Notice of person authorized to accept service on behalf of external company.
• Trade name and physical business/head office address (in foreign country and in Lesotho). verification documents.
• Contents of register of directors, auditors and officers.
• Identification documents of directors, signatories, Manager of Affairs in the country, shareholders with 25% or more voting rights and persons acting on behalf of company.^**
• The last 3 months bank statements of business (if existing).

Co-operative

• Statute.
• Certificate of registration of co-operative.
• Identification documents of all directors, the secretary and persons who act on behalf of the co-operative.^**

Partnership

• Partnership agreement (or letter confirming that one does not exist).
• Identification documents of partners, signatories, person who exercises executive control and persons who act on behalf of a partnership.^**
• The last 3 months bank statements of business (if existing).

Sole Proprietor

• Identification documents of owner, signatories and persons who act on behalf of a sole proprietor.^**
• Proof of residential address of sole proprietor.
• The last 3 months bank statements of business (if existing).

Body Corporate

• Copy of Body Corporate rules.
• Identification documents of signatories and persons who act on behalf of a body corporate.^**
• Proof of physical address.
• The last 3 months bank statements of business (if existing).

Informal Body

• Constitution or other founding document (or letter confirming that one does not exist).
• Identification documents of signatories and persons who act on behalf of an informal body.^**
• Proof of physical address (can use constitution or founding document).
• The last 3 months bank statements of business (if existing).

Trusts

• Trust Deed (or other founding document).
• Letter of authority.
• Identification documents of founder of trust, trustees, beneficiaries, signatories and persons who act on behalf of a trust.^**
• Proof of address of the Master's Office where the trust is registered (use Letter of Authority).

Attorney trust account

• Listed documentation detailed above according to your specific legal entity type.

Deceased Estates

• Masters letter of executorship.
• Death Certificate.
• Power of Attorney (if applicable).
• Identification documents of executor, signatories and persons who act on behalf of executor.^**
• Identity document of deceased.

Insolvent Estates/In Liquidation

• Certificate of appointment.
• Identification documents of executor, signatories and persons who act on behalf of executor.^**

Notes

^* If your company is not in possession of a Certificate of Incorporation , we will require all your registration documentation in its place.

^** For persons acting on behalf of any business entity, written confirmation that the person has authority to act on behalf of the entity must be furnished. This will usually take the form of any one of the following: a Power of Attorney, a written mandate, a court order, letters of authority, or a resolution duly executed by the authorised signatories to the account.

Acceptable forms of verification

The following are acceptable forms of verification of trade name and physical address of a business/juristic entity
(Please note that printouts, emails and over the counter statements are not acceptable)

• An original company letterhead.
• A utility bill (less than 3 months old).
• A bank statement or financial statement or official correspondence from another financial institution (less than 3 months old).
• A copy of a lease or rental agreement signed by both parties (less than 3 months old).
• A municipal rates and taxes invoice (less than 3 months old).
• A mortgage statement from another financial institution not within the Standard Bank Group (less than 6 months old).
• A telephone account that is a land-line or cell-phone (less than 3 months old).
• An official tax return or tax assessment (less than 1 year old).
• Official correspondence from the Lesotho Revenue Authority (less than 3 months old).
• A valid television licence or renewal document (less than one year old).
• A short-term insurance policy or a renewal letter (less than 1 year old).
• A retail account statement or official correspondence (less than 3 months old).
• A valid agreement from a security company reflecting the trade name and physical address of the business at which an alarm is installed (less than 3 months old).
• An official correspondence from a security company reflecting the trade name and physical address of the business at which an alarm is installed (less than 3 months old).

The following are acceptable forms of residential address verification (for Sole Proprietor)
(Please note that printouts, emails and over the counter statements are not acceptable)

• A utility bill (less than 3 months old).
• A bank statement or financial statement or official correspondence from another financial institution (less than 3 months old).
• A copy of a lease or rental agreement signed by both parties (less than 3 months old).
• A municipal rates and taxes invoice (less than 3 months old).
• A mortgage statement from another financial institution not within the Standard Bank Group (less than 6 months old).
• A telephone account that is a land-line or cell-phone (less than 3 months old).
• An official tax return or tax assessment (less than 1 year old).
• Official correspondence from the Lesotho Revenue Authority (less than 3 months old).
• A life insurance policy issued by an insurance company (less than 1 year old).
• Correspondence from a body corporate or share-block association (less than 3 months old).
• A short-term insurance policy or a renewal letter (less than 1 year old).
• A retail account statement or official correspondence (less than 3 months old).
• A valid medical aid statement or official correspondence (less than 3 months old).
• A valid agreement from a security company reflecting the residential address at which an alarm is installed (less than 3 months old).
• A fine (no spot fines) issued by the department of Traffic or a local municipality (less than 3 months old).
• A letter from a tribal chief where the person lives on tribal land (less than 3 months old).

Acceptable forms of identification

The following are acceptable forms of identification: Individuals