Foreigners can open bank accounts in Botswana for personal, salary, savings and other banking needs. However, the requirements vary depending on the bank, the type of account being opened and the applicant’s immigration status. While most banks accept foreign customers, there is no standard set of documents that applies across the industry.
Botswana has nine licensed commercial banks: Absa Bank Botswana, Access Bank Botswana, Bank of Baroda (Botswana), Bank Gaborone, BBS Bank, First Capital Bank, First National Bank of Botswana (FNB), Stanbic Bank Botswana and Standard Chartered Bank Botswana. Some banks publish detailed requirements for non-citizens, while others provide limited information online and require applicants to contact a branch directly.
Documents required
The documents required depend on the bank and account type. Foreign applicants may be asked to provide:
- Valid passport
- Valid work permit
- Valid residence permit
- Entry permit or other immigration documentation, where accepted
- Proof of residential address
- Proof of income or employment
- Taxpayer Identification Number (TIN) or PIN, where required
- Passport-size photograph, where required
- Certified copies of documents, where required
- Initial deposit, depending on the account
The requirements published by some of Botswana’s major banks are outlined below.
Standard Chartered publishes separate requirements for expatriates opening personal accounts. The bank requires identification, proof of legal residence in Botswana, proof of address and proof of income. These requirements apply across its personal banking products aimed at expatriates.
The published requirements include:
- Valid passport
- Photo of your face or a selfie
- Valid Residence Permit, Work Permit or Exemption Certificate
- Proof of residence
- Proof of income
Accepted proof of residence includes a recent utility bill, current lease agreement, employment letter, police affidavit or a letter from Travel Administration. Proof of income can be provided through a payslip, employment confirmation letter or sponsorship letter.
Standard Chartered’s Easy Banking Current Account requires an initial deposit of P100 and has no minimum balance requirement. Its Standard Current Account also requires an initial deposit of P100 and a minimum net salary of P1,500 per month. The bank also offers digital account opening through its mobile banking platform for selected products.
Absa has specific requirements for non-citizens opening its Purpose Savings Account. The requirements are straightforward and include immigration, income and address verification documents.
Foreign applicants are required to provide:
- Valid passport
- Valid work permit and/or residence permit
- Proof of income, such as a payslip
- Proof of residential address, such as a utility bill or lease agreement
The Purpose Savings Account can be opened with a minimum deposit of P100 for Standard customers. As with most banks, the requirements for other Absa accounts may differ, particularly where salary, income or account-specific eligibility criteria apply.
Applicants whose work or residence permits are still being processed should confirm directly with Absa which immigration documents are acceptable before beginning the application process.
Stanbic lists the same requirements for non-citizens across its TransactPlus, Achiever, Call and Flexi Access accounts.
Foreign applicants need:
- Valid passport
- Valid residence and work permit
- Proof of residence not older than three months
- Proof of income not older than three months
Minimum opening amounts vary by account. TransactPlus and Achiever have an account-opening fee of P50, while Flexi Access requires a minimum opening deposit of P1,000. The Call Account requires a minimum opening deposit of P10,000.
First Capital Bank has detailed requirements for foreigners opening personal accounts. Applicants need:
- Certified true copy of a valid passport or Alien Card
- Valid work permit
- Entry permit for new entrants
- Certified true copy of a PIN certificate or PIN number
- PIN check, with the printout attached to the application
- One recent colour passport-size photograph
- Current certified true copy of a utility bill, such as electricity, Telkom or water, not more than three months old
First Capital Bank specifically accepts an entry permit for new entrants. This allows applicants who have recently arrived in Botswana to apply without waiting for a full work permit, provided they meet the bank’s other requirements.
The bank also requires a PIN certificate or PIN number and carries out a PIN check as part of the application process.
FNB Botswana offers several personal banking products, but it does not provide an itemised document list specifically for foreign nationals.
The requirements can vary depending on the account. Foreign applicants should confirm the requirements for the specific FNB account they intend to open. Depending on the product, applicants may need identification, proof of income, proof of address and immigration documentation.
FNB’s recent annual reporting also describes plans for app-based profile registration that would allow new customers to register, upload documents, open an account and order a card without visiting a branch.
Access Bank Botswana, Bank Gaborone and Bank of Baroda Botswana
Access Bank Botswana, Bank Gaborone and Bank of Baroda Botswana are among the nine commercial banks operating in Botswana. However, detailed requirements for foreigners opening personal accounts are not available.
Applicants should contact the bank before visiting a branch and confirm:
- Whether foreigners can open the particular account
- Required immigration documents
- Acceptable proof of address
- Proof of income requirements
- Whether a TIN or PIN is required
- Certification requirements
- Initial deposit
- Minimum balance or salary requirements
BBS Bank
BBS Bank provides requirements for company accounts involving foreign directors, including work and residence permits for those directors. These requirements should not be treated as the requirements for an individual foreigner opening a personal account.
Foreigners who want to open a personal account with BBS Bank should contact the bank directly for the current requirements.
Do foreigners need a Botswana TIN?
A Taxpayer Identification Number (TIN), also referred to as a PIN in some banking documentation, may be required depending on the bank and account.
First Capital Bank specifically requires a PIN certificate or PIN number and conducts a PIN check as part of its account-opening process. The requirements listed by Standard Chartered, Absa and Stanbic for the foreigner accounts covered above do not state that a TIN is required.
Where a TIN is required, registration is handled by the Botswana Unified Revenue Service (BURS). For an individual taxpayer, BURS requires:
- Completed BURS Form 1A
- Certified copy of passport
- Certified copy of residence permit
- Certified copy of work permit
TIN registration can be completed at a BURS office or through the BURS eServices portal. There is no registration fee, and the TIN does not expire once issued.
Can you open a bank account without a work permit?
The answer depends on the bank.
First Capital Bank accepts an entry permit for new entrants. Standard Chartered accepts a Residence Permit, Work Permit or Exemption Certificate. Stanbic’s requirements include a valid residence and work permit, while Absa’s Purpose Savings Account requires a valid work permit and/or residence permit.
An entry permit accepted by First Capital Bank should not be assumed to be accepted by another bank. Foreigners whose work permits are still being processed should confirm directly with the bank whether their current immigration document is sufficient.
Proof of address
Proof of residential address is required by several banks, although the documents accepted differ.
Standard Chartered accepts a recent utility bill, current lease agreement, employment letter, police affidavit or letter from Travel Administration. Stanbic accepts a confirmation letter stating the applicant’s town or village, ward and plot number, or a form completed at the kgotla. The document must not be more than three months old.
First Capital Bank requires a current certified utility bill, such as electricity, Telkom or water, that is not more than three months old.
Foreigners who have recently arrived in Botswana may not yet have a lease agreement or utility bill in their name. In this situation, contact the bank before visiting to confirm which alternative documents are accepted.
Can you open a bank account online?
Some banks offer online or mobile account-opening options, although this depends on the bank and account.
Standard Chartered allows customers to apply for selected accounts through the SC Mobile app. Applicants can enter their personal information, verify their mobile number, upload documents, complete the required declarations and submit the application through the app.
Online application does not necessarily mean that every foreign applicant can complete the entire process remotely. Additional verification may still be required before the account is activated.
How much money do you need to open a bank account?
There is no standard opening deposit for foreigners in Botswana. The amount depends on the bank and account.
Standard Chartered’s Easy Banking Current Account requires an initial deposit of P100 and has no minimum balance requirement. Its Standard Current Account also requires an initial deposit of P100 and has no monthly maintenance fee when the balance remains at a minimum of P500.
Absa’s Purpose Savings Account can be opened with P100 for Standard customers.
Stanbic’s requirements vary by account. TransactPlus and Achiever have an account-opening fee of P50, while Flexi Access requires a minimum opening deposit of P1,000. The Call Account requires a minimum opening deposit of P10,000.
These amounts are account-specific and can change, so confirm the current requirements with the bank before applying.
What to take when applying
Foreigners should prepare the documents required for the specific bank and account before visiting a branch. These may include:
- Original passport
- Work permit or residence permit
- Entry permit, where accepted
- Proof of residential address
- Proof of income or employment
- TIN or PIN documentation, where required
- Passport photograph, where required
- Certified copies of documents, where required
- Money for the initial deposit or account-opening fee
Some banks require proof of address or income issued within the previous three months. It is also worth carrying the original documents even where the bank requests certified copies.
Requirements can differ between accounts at the same bank, so it is better to confirm the specific account rather than asking only about opening a bank account generally.
Choosing a bank as a foreigner
The right bank will depend on how you intend to use the account. Someone working in Botswana may be more interested in salary payments, branch and ATM access, mobile banking and account fees, while someone who regularly receives money from outside Botswana may place greater importance on international transfers and foreign currency services.
When comparing accounts, consider:
- Monthly account fees
- Account-opening fees
- Minimum balances
- Minimum opening deposits
- Salary requirements
- ATM charges
- Debit card fees
- Mobile and internet banking
- International transfer charges
- Foreign currency services
- Branch and ATM availability
Different accounts can have different eligibility requirements and charges, even when they are offered by the same bank.
Before you visit the bank
Requirements, fees and minimum deposits can change, and the documents required for one account may not be the same as those required for another account at the same bank.
If you have recently moved to Botswana, confirm that your current immigration document is accepted and check which documents the bank accepts as proof of address. This is particularly important if you are applying with an entry permit, do not yet have a utility bill in your name, or are waiting for a work or residence permit.
For branch locations and contact details, see our directory of bank branches in Botswana.
