Did you know that an existing merchant can onboard new stores without going through the lengthy Nedbank Merchant Application process and save on the Nedbank set-up fee? An existing Nedbank merchant can onboard a second, third or even fourth website/store by simply completing the Nedbank Add On Addendum so that the new store will be covered on the same Contract terms with the existing merchant.
Prior to completing a merchant Add On application, please ensure that:
- The new store must be under the same Legal Entity as the existing merchant
- The Settlement Account for the new store must be under the same Legal Entity as the existing Merchant.
Once you have confirmed the above and completed the Nedbank Add-On Addendum, we will request Nedbank to issue a new Merchant Number and a set of Live Application Ids for the new store. Should you wish to have a different Settlement Account for the new store, please forward the Proof of Banking details. In the absence of this, all settlements will be made to the bank account details for the existing merchant.