Island Business banking
Banking for businesses, clubs, charities and societies with a turnover of less than £1 million registered and trading in the Channel Islands and Isle of Man .
Features and benefits
- Islands based Business Banking team.
- A range of products and services to meet the needs of your business.
- Access to internet banking.
- Standing orders and direct debits available.
- Business overdrafts available, subject to approval.
To help us understand your needs, we carry out a short questionnaire. We do this by phone. It takes five minutes to complete.
We explain what documents you need to provide. Most of the time we can tell you there and then if we can provide banking services for your business.
By law, we must carry out due diligence. This ensures we know who we’re dealing with to prevent money laundering or financial crime. There are penalties for failing to do this, so we work with you to get it right.
Here are the documents you need to open an account:
- Certified copies of passports and proof of address for each director/key account party/shareholder
- Your Tax Identification Number (for individuals & the entity)
In addition to the above you’ll also need to provide:
- The last six months of statements from your previous bank
- Your financials
- Any changes documented within company registry.
- Your certificate of registration
- Your business plan
- Confirmation of your business address (if not the same as your personal address).
- Your certificate of incorporation
- Memorandum and articles of association
- A register of directors
- A register of shareholders
- Your business plan.
When you’re ready to apply there are three forms you’ll need to complete:
- Application form
- Tax Residency Self Certification form
- Mandate with signatures for all key account parties. This is also where you let us know what kind of signing authorities you want for your business.