How to Open a New Bank Account Remotely

Regulated United Europe offers the opportunity of opening a private account in one of the European banks in a fully remote manner. To open a private account remotely, several conditions must be met:

• The selected bank supports remote account opening
• You meet/your company meets the requirements of the bank for deposits, turnover, type of activity and country of incorporation (for entities)
• A complete set of documents has been prepared

You fill out the questionnaires received from our consultant

At the first step of opening a bank account, you fill out the form sent by our consultant. NB Collect the documents requested by the expert, fill out the profile data as accurately and truthfully as possible, as the final result of opening an account depends on it. If corrections, recommendations, and comments on the completed questionnaire come from the specialist, consider them and fill out the questionnaire anew. After receiving the final version of the questionnaire, the banking specialist Regulated United Europe analyses the completed form in detail and, if the data is entered in the required amount, proceeds to the next stage.

Consultant provides a cooperation agreement based on the provided information

As the second step, the parties sign a cooperation agreement on the basis of which the Customer instructs, and the Contractor undertakes to provide PRE-APPROVAL service to open an account in the selected European bank. The Customer undertakes to accept the provided services, as well as to pay them in a timely manner, in the time and in the amount stipulated by the signed Agreement. Within the framework of the signed contract, the parties undertake to preserve the confidentiality of the information received from the Customer. Confidential information does not include information which is classified by the current legislation in the category of open, and disclosure of which is the responsibility of the Customer (Contractor). The contract lays down in detail the liability of both parties, the cost of the service and the payment procedure, as well as the procedure for the provision and exchange of information.

Our bank specialist selects a more suitable bank account depending on the needs

In the third step of cooperation, the banking specialist of Regulated United Europe will study and analyse the structure of the legal entity and on the basis of the analysis, a banking solution will be proposed. In addition, the expert will predict how safe the enterprise is to cooperate with a foreign bank.

The analysis will consist of the following stages:

• analysis of personal documents of owners and directors
• corporate document analysis

When the shareholder or director of a company is another company/legal entity, a set of documents will be required for the owner company, its directors and owners.

The analysis verifies what any financial structure will inevitably verify: the quality of the document, the existence of signatures and representations, respectively, the requirements of the bank, the expiry dates of authorized persons’ mandates and much more.

After completing the questionnaire, our specialist will find a suitable financial solution for you on the basis of the provided data and will provide you with full support of the process of account opening: preliminary approval of your application with the bank, consultation on filling out the bank forms, verification of documents, submission of your application and communication with the bank before the final decision of the financial institution.

AML bank specialist reviews your application

At this step, the completed application is studied by AML bank specialist. The first stage – checking the business model of your company, AML Bank Department for compliance with the criteria of the bank. It is at this stage that the decision is made whether the Bank is ready to take your company for service and whether the bank is satisfied with your planned model of work. You are guaranteed to complete this primary stage after paying for the PRE-APPROVAL service. The conclusion that will be issued by the banking officer AML following the review of the PRE-APPROVAL application can not be guaranteed to you, but since the bank is initially selected for the business model of your company, our company can guarantee a high probability of positive response.

The second stage – inspection in the bank’s security service (Compliance department). The transition to the second stage is possible in case of a positive decision of the bank AML officer and full payment of the account opening service selected from those for which the positive PRE APPROVAL. At the second stage, the account opening service, allowed to consider the company and individuals with a full package of completed bank forms and certified documents, sent to the bank, as well as deposited into the account (if required) and provided that all other conditions of each particular European bank are met. At this stage, a positive decision of the bank directly depends on the reliability of the information provided by you, as all other details have already been agreed at the first stage, and for obvious reasons to guarantee you the opening of an account under these conditions is, if not misleading, then excessive arrogance, which is unacceptable policy of our company. The bank always has the last word.

After the application is approved, we will arrange communication with a bank employee to open an account

In the fifth step, which you carry out independently, Regulated United Europe can offer the following recommendations:

• Check the accuracy of the company’s charter documents. If the documents of the director, the final beneficiary, is in doubt, it is necessary to collect additional documents: a certificate of no criminal record, a document confirming the place of residence (extracted from the house book), marriage certificate, education document, full summary (biography), CV/summary.
• Check the correctness of completed forms. Often clients spend little time in haste to study and fill out bank statements, the slightest omission, leads to misunderstanding and divergent reading of the company’s charter documents.
• To describe in detail the activities of the enterprise, to provide a business plan, existing contracts, accounts, to clarify the nature of financial transactions.
• Provide certificates of the existence of already opened corporate bank accounts, in order to confirm the solvency and reliability of the company.