Description
About the Bank
Bank One, formerly known as the First City Bank, was established in 1997. In 2008 it went through a major re-branding exercise, followed by take-over by CIEL Investment Ltd (50%) and I&M Bank Limited (50%).
It’s is a universal bank providing services to all customer segments: Retail, Private, Corporate, SME, and International Banking. Financial solutions include transaction and deposit accounts, personal finance, trade finance, corporate finance and capital market services as well as a host of unique banking services. It offers a range of traditional and non-traditional wealth management products and has tied up with a number of Indian fund providers.
Required Corporate Documents:
- Board Resolution authorising account opening
- Global Business Licence (if applicable)
- Certificate of Good Standing (if applicable)
- Certificate of Incorporation
- Memorandum and Articles of Association / Constitution
- Register of Members and Directors
- Background information (Prospectus / Annual Report / Financial Statements)
- Business Plan
- Organogram, showing company’s structure
Required Personal Documents
For Shareholders above 20%, Directors, Beneficial Owners, Ultimate Beneficial Owners and Authorised Signatories:
- ID Card / current valid Passport
- Recent Proof of Address i.e. Recent Utility Bill / Bank or Credit Card Statement
- Bank Reference letter
- CV
Personal Visit
Personal visit is not required.
Initial Deposit
No initial deposit requirement.
Minimum Balance
No minimum balance requirement.
Online Banking
View and transactional internet banking.
For each 3 users monthly – USDS 9 for view and USD 18 for transactional internet banking.
Debit and Credit Cards
Bank does not offer any debit/credit card.
Time Required for Account Opening
10 working days, once all required documents received.
Currencies
Accounts are offered in all major currencies.
Bank Fees
Outward Remittances:
- Telegraphic transfer – 0.15% (min USD 30, max USD 75)
Inward Remittances:
- Telegraphic transfer – free of charge
- Cash deposit – 0.1%, min USD 10
Other fees:
- Account closure – USD 25
- Bank reference letter – USD 50
- Ledger fees – USD 50 (semi-annually)
