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AOP

Account Opening Procedures

 

Account Opening Procedures

 

 

First East Export Offshore Bank Ltd.
Account Opening Procedures
Feebbank - 2011

 

Enhanced Due Diligence for New Offshore Accounts

One of the best ways for feeb to avoid being an unknowing accomplice to money launders is to properly identify new customers, when their account is opened. Accordingly, the minimum identification requirements for opening a new offshore account are listed below. If a customer refuses or is unable to provide the requested information within ten (10) business days of opening his or her account, the account will be closed.

Minimum Identification Requirements – Offshore Accounts

  • Articles of Incorporation.
  • Certificate of Incorporation.
  • Assumed Name Filing, if account is to be opened in a name other than that shown on the Articles of Incorporation.
  • Minutes of the Board of Directors Meeting.
  • Letter of reference from prior bank (unless the company is newly formed).
  • Credit history for the company (unless the company is newly formed).
  • Business plan.
  • ID of person who will sign the Agreement.

Minimum Identification Requirements

  • Articles of Incorporation.
  • Certificate of Incorporation.
  • ID of person who will sign the Agreement.

Minimum Identification Requirements

One of the following forms of identification with a picture

  • Driver license.
  • Passport.
  • Other ID card.

Identification of High-Risk Accounts

Certain types of business are more likely to be involved with money laundering. Accordingly, all businesses that are classified as one of the following will receive increased scrutiny from the feeb Officer.

  • Check cashing.
  • Currency dealer or exchanger.
  • Convenience stores that sale travelers checks and/or money orders.
  • Adult entertainment clubs.

Suspicious Activity Tracking Report  
Auditor's Report Blank  

 

 

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