The Bank Account Opening Request Letter For Company is a crucial document required when establishing banking relationships for corporate entities in South Africa. It is typically used when a company needs to open new banking facilities, whether for a newly registered business or an existing company changing or adding banking providers. The letter must comply with South African banking regulations, including the Banks Act 94 of 1990 and the Financial Intelligence Centre Act (FICA). It serves as the formal initiation of the bank-client relationship and must include specific company information, desired account types, authorized signatories, and references to all supporting documentation required by FICA and other relevant regulations. This document is essential for ensuring proper corporate governance and maintaining compliance with South African banking and company laws.
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1. Letter Header: Company letterhead including full registered company name, registration number, and contact details
2. Date and Bank Details: Current date and full details of the bank branch being addressed
3. Subject Line: Clear indication that this is a request for corporate bank account opening
4. Company Introduction: Brief introduction of the company, including nature of business and time in operation
5. Account Requirements: Specification of the type of account(s) required and purpose
6. Authorized Signatories: Details of individuals authorized to operate the account
7. Documentation Confirmation: List of enclosed required documents as per FICA requirements
8. Contact Information: Primary contact person's details for follow-up communication
9. Closing and Signature: Professional closing with signatures of authorized representatives
1. Additional Services Request: Section requesting additional banking services like internet banking, credit facilities, or merchant services
2. International Trading Information: Required for companies conducting international business, including details about foreign currency requirements
3. Group Structure Details: For companies that are part of a larger group, explaining the corporate structure
4. Previous Banking References: If the company has existing or previous banking relationships
5. Business Plan Summary: Brief overview of business plans, particularly relevant for new companies
1. Company Registration Documents: Certified copies of company registration documents, CIPC certificates
2. Director Identification: Certified copies of directors' ID documents and proof of residence
3. Resolution Documentation: Board resolution authorizing account opening and designated signatories
4. FICA Documentation: All required FICA compliance documents including proof of business address
5. Financial Statements: Recent financial statements or projections if required by the bank
6. Ownership Structure: Diagram or documentation showing company ownership structure and ultimate beneficial owners
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Banking
Corporate Services
Professional Services
Retail
Manufacturing
Technology
Mining
Agriculture
Construction
Healthcare
Education
Transport and Logistics
Real Estate
Hospitality
Relevant Teams
Finance
Legal
Compliance
Corporate Secretariat
Administration
Treasury
Executive Management
Operations
Corporate Services
Risk Management
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Financial Director
Company Secretary
Finance Manager
Compliance Officer
Legal Counsel
Business Development Manager
Administrative Manager
Operations Director
Managing Director
Financial Controller
Treasury Manager
Accounts Manager
Corporate Services Manager
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