Clients, who are applying for a new bank account opening in international banks remotely (without visiting the bank), often underestimate the importance of the correct certification of documents.
Incorrect certification is often the main cause of delay in processing client application by the banks. Reasons are that banks have very strict certification guideline imposed by local industry regulators, and bank compliance officers take this very seriously. If bank representative did not see the client or did not see original client documents, they need to be absolutely comfortable that submitted copy is a genuine copy of the original document and that ID document has a photo which is a true likeness of the applicant. They also need to be sure that certifier is the person they can trust and can contact to verify the certification.
Here are the guidelines to follow when arranging a certification:
- To be acceptable the certified copy document must be legible and in date
Who can certify?
Certifier must be an approved professional person (e.g. Lawyer, Notary, Banker, Accountant or manager of the regulated business) and must, by means of a stamp or otherwise, also state:
- their name,
- and contact details.
The person certifying the document may charge you a fee.
- Certification must include a statement along the lines of “certified as a true copy of the original”
- and in addition, for photographic documentation “the photograph bears a true likeness to (enter name of applicant).”
This statement must be signed and dated by the person certifying.
Documents that are not certified in accordance with these criteria are usually not acceptable and will require recertification or in the best case scenario, bank will contact the certifier to confirm missing information.
Some banks require company corporate documents to be Apostiled (An Apostille is a certificate issued by a designated authority (usually notary) in a country where the Hague Convention Abolishing the Requirement for Legalization of Foreign Public Documents, Apostille Convention, is in force). This is usually done for an extra charge for Company Services Provider.
Please let us know if you need assistance or you like to check if certification is correct.