Workforce Payments Guide Angola
Last updated: Sep 22, 2025
Papaya offers Virtual IBAN accounts (or “wallets”) to hold your funds segregated and safeguarded until payments are ready to be processed. Opening and managing corporate bank accounts can often be complex and time-consuming, requiring extensive checks and due diligence.
Papaya’s Virtual IBAN solution, built on the trusted infrastructure of JPMorgan, streamlines this process-making it faster, easier, and more cost-effective while ensuring your funds are secured.
Supported Payment Types
Statutory and benefits payments independently via Payments OS.
Banking Requirements
Angola does not use an international IBAN, but local bank account formats must be validated to ensure correct payments.
| Field | Format |
|---|---|
| Bank Code | 6 digits |
| Branch Code | 3 digits |
| Account Number | 11 digits |
Check an IBAN
Type it in here and we will tell you if it is the right format.
Calculate an IBAN
Fill in the account details, and we will calculate the IBAN for you.
Payroll payment Frequency
Wages must be paid at least once per month (monthly payroll standard).
KYC
- Individuals: National ID/passport, proof of residence, sometimes income proof.
- Companies: Trade registry certificate, tax ID, beneficial ownership.
- Enhanced checks for foreign nationals and high-risk clients.
Banking Regulations
- Regulated by the Banco Nacional de Angola (BNA).
- Laws cover AML/CFT, capital controls, and foreign currency restrictions.
- Foreign exchange is tightly regulated.
International Banks
| Bank Name | SWIFT / BIC Code |
|---|---|
| Standard Bank Angola | SBICAOLUXXX |
| Millennium Atlântico (Portugal-linked) | BCOMAOLUXXX |
| Access Bank Angola (Nigeria-based) | FBCOAOLUXXX |
Local Banks
| Bank Name | IBAN Bank Code |
|---|---|
| Banco Angolano de Investimentos (BAI) | BAIPAOLUXXX |
| Banco de Fomento Angola (BFA) | BMFXAOLUXXX |
| Banco de Poupança e Crédito (BPC) | BPCLAOLUXXX |
| Banco Económico | BESCAOLUXXX |
| Banco BIC Angola | BCCBAOLUXXX |
Payment Methods
- Cash widely used
- Multicaixa debit card system (main POS/ATM network)
- Bank transfers (domestic & SWIFT international)
- Mobile money / wallets: Unitel Money, BAI Directo, SB24
Cryptocurrency
- Not legal tender
- Crypto mining banned under 2024 law
Questions & Answers