Checklist to Open a Company Bank Account
We realise that we require a lot of information about you and your business. The information collected is used by the bank, and not by ourselves. There are legal and regulatory obligations upon us to collect information about our customers and their associated parties, including identification and confirmation of address. This is done for the following purposes:
- To enable us the bank to understand the customer's business.
- To set up the new account and to enable future contact.
- To confirm the identity of the customer and associated parties.
- As a legal obligation to prevent money laundering and the misuse of the banking system.
There are two main parts to the application:
- The Application Form.
- The supporting documentation you must provide.
Application Form
The Application Form has been designed to be as straightforward as possible.
| Details of the Company which is opening the Bank account |
|---|
| Contact details for your organisation, including a main/trading address, a correspondence address and a registered address |
| Details about your accountant, legal adviser and any existing bankers |
| Full description of the main activities of the organisation, including for example its products, goods traded or services provided |
| A business plan and company literature |
| List all the countries in/with which your business takes place, and the approximate percentage of trade/work carried out in each country |
| If the organisation undertakes licensed activities, please provide details of main (and/or proposed) trading counterparts ie. your customers and suppliers. Please give details of the products or services they buy or supply, and the approximate percentage of your business that you undertake with the counterparty |
| Please estimate the annual turnover and the number of credits to, and payments from the Bank Account |
| Please specify the source of the initial deposit into your account |
| Companies must supply information about their company structure and relations with other companies |
| Parties connected to the Organisation |
| We require the names of all the main parties connected with the organisation – ie any corporate entities or individual persons connected to the organisation |
Documentation
We require the following additional information to be able to process your application. Some of the documents need to be certified to protect you and the Bank against the possibility of fraud.
| Information about your business |
|---|
Evidence of
Incorporation:
|
| Where applicable a Certificate of Good Standing |
| Confirmation of the organisation’s activities and evidence of any licensed activities. Please provide copies of financial accounts, business plans, brochures and company literature and any other information that will assist us with understanding your business. |
| Confirmation of appointment of Directors/Managers/Members in whatever form. Original/ Certified copies of board minutes providing evidence of appointments, and that of members authorised to act on behalf of the organisation |
| References from Professional Firms |
| Please state the names and addresses of two professional firms that can provide a reference of the key officials of the company |