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)