Banking Account

Our Bank Account offers you a complete banking solution with easy access to a wide range of products and services.

1. Make and receive payments using a comprehensive range of convenient banking channels
2. Link your debit card to your Business Bank Account to pay for daily purchases and for access to VISA’s global ATMs and point of sale network

  • Business internet banking that is available 24/7 – manage multiple user access, functionality and enable dual authorization to ensure security checks and internal controls. You can easily integrate with 3rd party salary packages for easy payments and make immediate, group and batch payments. The easy functionality also allows you to manage beneficiaries and has a direct link to confirm SARS payments via integration to SARS.

  • You can also set up debit orders to automate monthly payments.

  • Single point of contact through your Mercantile Bank Business Manager for all your business banking requirements.

  • Earn competitive tiered interest rates according to your balance. Your interest is calculated daily and capitalized monthly.

  • Minimum requirements to open an account – Latest Audited Financial Statements not older than 18 months.

Interested in our Business Banking Account?

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Gold Credit Card

  • Gold Credit Card is linked to our loyalty programme to give you access to all premier Bidvest lounges at airports around South Africa

  • Nominate any number of executives and staff to use cards linked to a single card account, with individual limits and tracking

  • Travel Insurance Change Notification

As a division of Capitec Bank Ltd, we are pleased to announce the introduction of the new Travel Insurance for our Credit Card cardholders to replace the existing Travel Insurance. The changes will be effective from 1 February 2021. We have attached the documents outlining the benefits and contact details to be used by staff for guidance.

Capitec Business Bank travel insurance cover is underwritten by Travel Insurance Consultants (T.I.C), which is a division of Santam Limited. Emergency medical assistance service is provided by Europ Assistance.

International travel insurance covers any unexpected medical expenses while card holders are travelling abroad. If you are a client up to the age of 75, and you purchase and pay for the full cost of your return conveyance ticket with your Capitec/ Mercantile credit card, you will receive free basic travel insurance.  Please activate your policy by declaring your travel arrangements.  Free cover is limited, you may also opt-in for top-up cover at your own cost if additional cover is required.

Benefits
  • Free basic cover – Emergency medical and related expenses of up to R10 million as specified in the benefit schedule that will be supplied to you by Travel Insurance Consultants (TIC)

  • Top-up cover – Extra benefits such as journey cancellation, hijacking and wrongful detention, lost or stolen luggage and legal expenses.

  • TIC Portal –- You will need activate the cover by declaring it either to TIC or on the portal - https://www.tic.co.za/capitec/

  • Or TIC call center – TIC will provide a quotation for the extra premium and will collect the payment from you.

Access the Schedule of Benefits

Access the Schedule of Benefits Top Up

Conditions for cover
  • You must pay for your return conveyance ticket in full with your Capitec/ Mercantile credit card.

  • You must be not older than 75 years of age.

  • Your trip cannot exceed 90 days.

Notes
  • International travel insurance does not cover domestic travel, even if you purchase and pay with your credit card

  • International travel insurance is not available on Visa® debit cards.

  • The insurance only covers you and your immediate family: - spouse, parent, legal guardian, stepparent, grandparent, grandchild, In-law (son, daughter or parent), natural or adopted child, brother, sister, stepbrother, stepsister, half-brother or half-sister.

How to activate the cover

To activate your international travel cover, you can contact the TIC call center Monday to Friday from 8am – 5pm using any of the following channels:

Tel: +27 11 521 4112
Email: [email protected]
Website: www.tic.co.za

Or you may go directly to https://www.tic.co.za/capitec/ and issue your travel certificate directly. When your policy is issued, you will receive a Schedule of Insurance, detailing the benefits and limits, Visa Letter and policy terms and conditions.

Medical emergency

Should you have a medical emergency while travelling internationally, contact Europ Assistance 24/7 on +27 11 991 8409.

How to claim

For Medical: You should contact Europ Assistance directly.
For Non-Medical: You should contact TIC directly.

TIC contact center for claims
Monday to Friday from 8am – 5pm
Tel: +27 11 521 4000
Email: [email protected]

Or submit Your Claim directly online from this page, https://www.tic.co.za/travelinsurance/claims/claims-procedure

Provide a full description of Your Claim – how it happened and what happened
Provide supporting documentation, e.g. Invoices, receipts, police report, medical reports, proof of ownership, etc.
For Medical Claims, you must contact the Assistance Company immediately. The contact number is in bold red on Your Schedule of Insurance.

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Franchise

Are you looking to buy a franchise or are you already a franchisee or franchisor? Mercantile's expert franchise team has the banking solution for you, from A-Z

At Mercantile Bank, we understand that franchises drive significant economic growth, contributing a significant percentage to SA’s GDP and creating employment and opportunity across the value chain. We also know that franchisees have specific financial needs require specialist input and sector knowledge.

Our expert team has years of experience and practical know-how within the franchising industry, ensuring that we are adequately equipped to assist franchisors, franchisees and other franchise service providers. Focus areas include fast food, restaurants, fuel stations, retail, automotive and retail. Of course, we are also keen to partner with up-and-coming brands, so do get in touch.

What are the benefits?

Leveraging our deep understanding of entrepreneurial development, we are able to provide:

  • A centralised approach and support structure

  • Unique financial solutions and value propositions

  • Quicker credit turnaround times

  • A cross-industry focus

  • Best practice approach that will drive sustainable growth

  • Access to expert networks

  • Informed decision making

  • A national footprint

The application process is quick and simple. What’s more, you’ll also have access to dedicated relationship managers who will be able to assist with any banking needs, be it personal or business related. Our aim is to be there for you at every touch point of your business’ life cycle. Choose from our wide portfolio of industry-leading solutions, from franchise purchase to business operation.

Operations

  • Merchant services - Take care of all card-based customer purchases with our POS devices

  • Cash solution - Accurately count cash, secure it on site and have G4S manage your cash.

  • Internet banking - Manage every aspect of your business online or through our app

  • Insurance - Consult our insurance partner, CommRisk, about short- and long-term insurance solutions

  • Employee benefits - Ensure employee health and wellbeing with our range of value-added services

Access the Schedule of Benefits

Access the Schedule of Benefits Top Up

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Current and Savings Account

  • A Mercantile debit card linked to your savings or current account with an overdraft facility.

  • Your Mercantile debit card allows you to access your funds via a global network of ATMs and point-of-sale devices 24 hours a day, 365 days a year.

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Gold Credit Card

Gold credit card with a revolving credit facility and secondary card for family.

Key features and benefits of a Gold Credit Card

Secure Chip and Pin with up to 55 days interest free and a budget facility

Make payments through electronic transfer, cash or debit order and the card is accepted at merchants worldwide

You will not be charged for transaction fees on POS swipes whilst still earning rewards on monthly spend.

Enjoy a set number of free airport lounge visits

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Internet Banking

Ways to bank:

Internet Banking that is secure and allows you to view, transact and manage your accounts or linked accounts, anywhere, anytime.

Mobile Banking

Ways to bank:

Mobile Banking is available via the Mercantile Banking App that can be downloaded from the PlayStore or iStore.

Download on the App Store Get it on Google Play

Lost or Stolen Cards

It's important to report a lost or stolen Mercantile Bank card as soon as possible. You can contact our 24-hour customer care hotline on 0860 11 99 25 to do so. We will issue you with a new card within 48 hours. This can be collected at your nearest Business Centre or elsewhere, depending on arrangements made. Prompt notification is imperative as you will be liable for payment of all transactions recorded up until the card is reported lost or stolen.