ABSA Business Banking South Africa Form Setup Instructions
The below guide highlights ABSA Business Bank South Africa's specific instructions on accepted form types and how to setup the different form types for relevant bank accounts.
Please do not split forms between ABSA Private, ABSA Corporate, and ABSA Business. All forms for a specific client should be sent to either one of the departments.
Refer to the prior year's confirmation for the department that completed the forms before initiating your requests.
Depending on how information can be extracted from the bank systems, a form can be set up in 2 ways:
- Individual account basis
The bank can only extract form details on an individual account basis. Auditors will therefore need to set up each account number as a separate form of the form type. - Entity wide basis
The bank can extract form details on an entity wide basis. Auditors can therefore send a single form of the form type using a main account number. As information is supplied on an entity wide basis all other account numbers do NOT need to be supplied.
Note: Authorisation is required from only one client signer
Form Type | Form Description | Setup Instructions |
Accepted Accounts
|
---|
ZA - Asset | Provides information on balances, Interest, collateral/security/facilities. Note: The bank will provide overdraft information and treasury on the ZA - Asset form. Should the you have the treasury account, please state on the comments when you initiate this form. An asset account is typically a current; cheque; deposit; saving; or investment etc. | Individual account basis A separate ZA-Asset form needs to be set up per account number. |
- Current
- Call deposit
- Investment
- CFC
- Treasury
|
| Click here for a detailed explanation of the ZA - Asset Form |
Shariah Asset Form (Islamic Accounts) | Provides information on balances, returns accrued/received/earned and any collateral/security/facilities that may have been attached to an account for a specified year end date. An asset account is typically a current; cheque; deposit; saving; or investment etc. Note: The bank will provide overdraft information on the ZA - Asset form. You only need to submit either a ZA - Asset form or Shariah Asset form, not both. | Individual account basis A separate Shariah Asset form needs to be set up per account number. |
- Current
- Call deposit
- Investment
|
ZA - Liability | Provides information on balances, Interest, borrowing agreements, covenant details, collateral/security/facilities. Note: The bank will provide overdraft information on the ZA - Asset form. Only send a ZA - Asset form and not a ZA - Liability form for an account number that has an overdraft attached. A liability account is typically loans; advances etc. | Individual account basis A separate ZA-Liability form needs to be set up per account number. |
- Current
- Fleet
- VAF
- Term loan
- Personal loan
- Bond
- Revolving loan
- Commercial Property Finance
|
| Click here for a detailed explanation of the ZA - Liability Form |
ZA - Contingent Liabilities & Guarantees | Provides information on written guarantees and other contingent liabilities. | Entity wide basis Only need to set up one form, with a main account number. |
- Current
- Local Documented Product
|
| Click here for a detailed explanation of the ZA - Contingent Liabilities & Guarantees Form |
ZA - Signatories | Provides a list of authorised signatories on the client account and documentation with regards to the power of attorney. | Individual account basis
A separate ZA - Signatories form needs to be set up per account number. |
- Current
- Cheque
- Savings
- Fleet
- Term loan
- Personal loan
- Bond
- Revolving loan
- Commercial Property Finance
|
| Click here for a detailed explanation of the ZA - Signatories Form |
ZA - Letter of Credit | Asks questions in relation to a letter issued by a bank to another bank to serve as a guarantee for payments made to a specified person under specified conditions. | Entity wide basis
Only need to set up one form, with a main account number. |
|
| Click here for a detailed explanation of the ZA - Letter of Credit Form |
ZA - Derivatives | Provides information on foreign exchange contracts and other derivative positions etc. This information is supplied on an entity basis. Note: For all FEC’s and Forward positions, set up the form with, preferably, the main MIDAS number (Please do not supply trade numbers). If you do not have the Midas/Deal number, use the main transacting account number | Entity wide basis
Only need to set up one form, with a main account number. |
|
| Click here for a detailed explanation of the ZA - Derivatives Form |
Instructions:
ABSA Business Banking South Africa Clients
ABSA Business Banking clients are generally smaller to medium sized entities.
ABSA Business Banking South Africa Departments Not Available on Confirmation.com
ABSA Business Banking South Africa can be facilitated through Confirmation.com. There are however a few departments that are in the process of being on boarded and have thus not launched on Confirmation.com as of yet. Should an auditor want a confirmation from any of these departments, they would need to contact the department directly. Confirmation.com is constantly adding bank departments onto the system and will notify auditors once these additional departments have launched. Please refer below to a list of email addresses that can be used to send a manual paper request to the bank.
Department Name | | Email Address |
---|
Credit Card | | purchasecard@absa.co.za |
Unit Trust | | unittrust@absa.co.za |
ABSA Investment and Management Services (AIMS) | | AIMSEnquiries@absa.co.za |
ABSA Business Banking South Africa Accounts
Account Name | Account Digits | Account Structure |
---|
Current | Consist of 10 digits(max) | XXX XXX XXXX (Can include a 0 before) |
Call Deposit | Consist of 10 digits(max) | XXX XXX XXXX (Can include a 0 before) |
Investment | Consist of 10 digits(max) | XXX XXX XXXX (Can include a 0 before) |
CFC | Consist of 9 digits | |
Forward Exchange Contracts (FEC) | Consist of 6 digits | Requires a Midas/Deal numbers |
Unit Trust | Consist of 10 digits(max) | |
Fleet | Consist of 16 digits | |
Vehicle and Asset Finance | Consist of 9 digits | |
Treasury | Consist of 12 digits | |
ABSA Investment and Management Services (AIMS) | Consist of 10 digits(max) | |
Note: Authorisation is required from only one client signer
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