Fledgling business owners often have to go from bank to bank or site to site trying to find details on what is required of them in order to open a bank account. While it should take no less than a week, in the days of modern technology, it need only take a few clicks of a button.
We took the liberty of compiling a comprehensive list of things required from banks.

The requirements for opening a business or corporate account are:
1. Memorandum and articles of association -A memorandum of association is the document that sets up the company and the articles of association set out how the company is run, governed and owned.
2. Certificate of incorporation – A certificate of incorporation is a legal document relating to the formation of a company or corporation. It is a license to form a corporation issued by state government. Its precise meaning depends upon the legal system in which it is used.
3. CR14 – This document serves the main purpose of confirming to the company, as well as to members of the public who have dealings with the company, who the principal officers for such a company are.
4. CR6 – It states the physical and postal addresses of the company
5. Directors ID’s and proof of residence in the form of a utility bill e.g. water, phone or electricity bill
6. Passport size photos
7. If it is a public company a certificate to commence trade is required
8. If a company has changed its name before that certificate of change of name is needed
9. Tax clearance letter or certificate
10. Initial deposit
When dealing with co-operatives in addition to basic requirements, some banks require a constitution.

Pertaining initial deposit
-ZB Bank US $ 100 for company,
-Stanbic is US $200 for companies,
-Kingdom bank US $200 for companies,
-CBZ US $500 for companies
– Standard Chartered US $500 for companies
• Fees are subject to change as per bank at any time

Articles cited
Fadzai Mbewe – Just business