This is how banks kill business

Last week I advised Yoco that I have bought a larger company in the same industry where we are currently operating. I asked them to split my account with them into two profiles since I will be managing the new business as two entities due to the size of the operation.

I opened a Nedbank account under one of my registered companies and within a day my new entity was registered and ready to operate.

The second (original) entity however where I have banked since I opened the account did not activate showing banking verification not done. So for the past four days I have had to operate with zero funds coming into my bank account. Like every business out there, we have commitments which is impossible to meet if we do not get our turnover.

When I contact them, I am advised that it may take up to 24 hours to verify my account and this has been going on for days now with new paperwork being requested every time. I cannot get a clear answer from them as to what is holding up the process because you can never actually speak to the person who is holding up the process.

So now I would like to know how many days, weeks, months or years they intend to starve my company of my revenue before they finally do their job.

I have been trading on this account since 2019 with them, so what the hell are they verifying?