Whether you're selling your Yoco card machine, or purchasing one second-hand, a Transfer of Ownership needs to be officially submitted with Yoco.
Steps required by the Original Owner of the Yoco card machine
- Draft a Transfer of Ownership Letter
Written consent is required from the original owner of the card machine, giving permission for the new owner to take over ownership. You can either draft your own letter of consent or use our template below.If you choose to draft your own, the Transfer of Ownership letter should be written on the original owner's company letterhead, and must include the following:
I, [Original Owner Name & Surname] , of ID [ID Number] confirm that I am transferring ownership of card machine, [Card Machine Serial Number] , belonging to [Original Business Name] to [New Owner Name & Surname] to be used at [Business Name].
I accept that by selling my Yoco card machine to a 3rd party, the warranty on the card machine is voided. I confirm that I have communicated this to the buyer.
[Original Owner Name]
[Original Owner Signature]DOWNLOAD our Transfer of Ownership letter template
Submit Transfer of Ownership letter
The original owner must then attach the Transfer of Ownership letter to an email, and send it to firstname.lastname@example.org. If possible, please cc the new owner in the email.
Steps required by the New Owner of the Yoco card machine
- Sign-up on signup.yoco.co.za
The new owner would need to complete sign up for their new business here, and select the Just Online Payments payment option. Access is completely free.
- Submit FICA Documents
A clear photo of the ID for the new owner must be uploaded to their newly created Yoco Business Portal here. This ensures that payout to the new owner can be activated.
- Add Bank Details
The new owner must add their business bank details to their Business Portal here. This ensures that payout is processed to the correct bank account.
The Yoco Onboarding Team will then process the new application. If there are any vetting queries, we will be in contact with you via email or phone call.
Once the vetting checks have been completed (estimated 1 -2 days), the card machine will be transferred to your new business, and you can start transacting immediately.
IMPORTANT: Please note that only working card machines can be transferred or bought back. Yoco also accepts no responsibility for the condition of the card machine sold to a new owner.