Opening a Bank Account

The EU Money Laundering Directive is in force in Ireland and financial institutions have adopted procedures to comply with this directive. The following procedures apply:

  • A sole trader opening an accounts needs to bring to the bank a current passport or driving licence and a utility bill
  • A sole trader operating under a trade name will need the original certificate of registration of the trade name
  • A limited company will be required to supply a list of directors, their position in the company and details of their shareholding. You will also be asked to supply personal details of directors i.e. date of birth, address etc. Newly formed companies will be asked to supply a copy of the Memorandum and Articles of Association of the company, original certificate of incorporation, address of the registered office, a resolution, passed by the directors, appointing the relevant bank as bankers to the company and instructions for the bank as to how drawings on the accounts are to be signed
 

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