What are the requirements to open a business account?
The prerequisites for initiating a business account with FV Bank are:
- Legal Name of Business
- Principal place of business
- Mailing address of business
- Customer contact (telephone and email)
- Customer website where applicable
- Customer's Certificate of Incorporation or Memorandum and Articles of Association (if applicable)
- Resolution of the Board of Directors or equivalent to open an account
- Name of Authorized person opening account, appears in resolution if not a UBO
- Completed ID verification of Authorized Person
- Names of all UBO with 25% or more ownership
- KYC of all UBO's
- If UBO is a Corporation, then we require Corporation documents and UBO KYC same as mia applicant.
- All self-assessment questions complete in application
- POA of Authorized User and UBO