Account Opening in Bangladesh: Personal, Non-personal, Corporate Accounts

Account opening is a very important task to establish banking relationship with a customer. If the
banker can ensure opening of an account properly complying the rules and regulations of Bangladesh
Bank as well Head Office, they can protect themselves from the lapses, inadequacies, errors, fraudulent
activities and malpractices, a customer wants to commit through an account opened and maintained
with a bank. Therefore, the banker is required to take utmost care while opening account(s). In
accordance with Sec. 3(b) of Negotiable Instrument Act-1881, “a banker means a person transacting the
business of accepting, for the purpose of lending or investment, deposits of money from the public,
repayable on demand or otherwise and withdrawable by Cheque, draft or otherwise and includes any
post Office Savings Bank.”

NATURE OF ACCOUNTS:
a) Personal
b) Non-personal/Corporate

Corporate Accounts are:

i) Limited Company (Private & Public);
ii) Partnership Firm;
iii) Association/ Club/ Charity/ Trust/ Society etc.
iv) Sole Proprietorship.

For opening of an account a customer is to apply to bankers in a prescribed form which usually contains
the following information/ clauses/ steps:

In case of Personal Account:

1. Title of Account
2. Type of Account
3. Name of Currency
4. Operating Instruction
5. Introducing information
6. Initial deposit
7. Nominee’s particulars
8. Signing Instruction
9. Sources of fund
10. Personal information(s)
11. Transaction profile
12. Know your Customer (KYC) FORM
13. Nature of business
14. Network of the customer
15. Expected monthly transactions
16. Expected number of monthly Transactions
17. Expected number of Cash Transactions
18. Expected number of monthly Cash Transactions
19. Overall Risk Grading
 20. Information letter on Money Laundering Prevention Act- 2009
21. Approval by the Head of the Branch
22. Letter of Thanks
23. Letter of welcome

In case of Non-personal Account/ Corporate Account:

1. Title of Account
2. Type of Organization
3. Name of Currency
4. Address of Organization
 Registered address
 Business/ Office address
 Factory/Industry address
5. Trade License no. and date.
6. Registration Authority and Country (Local & Foreign)
7. Registration no.
8. Tax ID number
9. VAT Registration certificate
10. Nature of business
11. Introducers particulars
12. Initial deposit
13. Sources of fund
14. Signing instruction
15. Personal information
16. Transaction Profile
17. KYC form
18. Net worth of the customer
19. Expected monthly transactions
20. Expected number of monthly Transactions
21. Expected number of Cash Transactions
22. Expected number of monthly Cash Transactions
23. Information letter on Money Laundering Prevention Act- 2009
24. Letter of Thanks
25. Letter of welcome
26. Others paper of document if deem necessary.

The related circulars must be followed meticulously being issued by Head Office from time to time while
opening the various accounts.

Mainly the following documents are to be obtained while opening the various accounts:
A. Savings Bank A/C:
- Photograph of the account holder(s) attested by the introducer/ Branch officials
- Introducer ( other account holder accepted to the Branch officials)
- Photocopy of National Certificate/ Photocopy of passport/ copy of National ID Card.
 - KYC form dully filled in;
- Transaction Profile
- Letters of Thanks
- Letter of Welcome

B. Individual/Joint A/C
Two copies of photograph of the account holder(s) who will operate the A/C
Introduction
Nationality certificate or photocopy of Passport(1 to 7) Pages / copy of National ID Card
Transaction Profile
KYC Form
Operational instruction ( In case of joint A/C)
Letter of Thanks & Letter of Welcome

C. Proprietorship Firm
Two copies of photograph of the account holder(s) who will operate the A/C( original must be seen);
Sole proprietorship declaration;
Introduction;
Certified copy of valid trade license;
Trade seal;
Nationality certificate or photocopy of Passport (1 to 7 ) pages; Copy of National ID Card.
Transaction Profile
KYC Form duly filled in;
Letter of Thanks & Letter of Welcome

D. Partnership Firm
Two copies of photograph of the account holder(s) who will operate the A/C( original must be seen);
Introduction
Certified copy of valid trade license;
Trade seal;
Certified copy of partnership deed duly signed by all the partners;
Nationality certificate or photocopy of Passport (1 to 7) pages; Copy of National ID Card
Transaction Profile
KYC Form
Letter of Thanks & Letter of Welcome

E. Trust
Two copies of photograph of the account holder(s) who will operate the A/C;
Up-to-date list of members of the Trustee Board
Certified copy of Deed of Trust;
Certified copy of the Resolution of the Trustee Board for opening & operation of the account;
Introduction
Seal (Designation wise) who will operate the A/C;
Nationality certificate or photocopy of Passport (1 to 7) pages; Copy of National ID Card
Transaction Profile
KYC Form
Letter of Thanks & Letter of Welcome
F. Club/ Society/ School/ College
Two copies of photograph of the account holder(s) who will operate the A/C;
Certified copy of Bye Laws & Regulation /Constitution;
Certified copy of Resolution for opening & operation of the A/C;
Up-to-date list of Officers/Bearers (office bearers);
Introduction
Seal (Designation wise) who will operate the A/C;
Nationality certificate or photocopy of Passport (1to7) pages; Copy of National ID Card
Transaction Profile
KYC Form
Letter of Thanks & Letter of Welcome

G. Limited Company
Two copies of photograph of the account holder(s) who will operate the A/C;
Certified copy of the Memorandum of Association & Article of Association;
Certificate of Incorporation;
Certified copy of Full Board Resolution for opening & operation of the A/C;
List of Directors with Signature (up-to-date) In Letter Head Pad
Introduction
Seal (Designation wise) who will operate the A/C;
Form-XII (if old company) to know the up to date position of directors
Form 117 ((if takes over another company)
Transaction Profile
KYC Form
Letter of Thanks & Letter of Welcome
Certified copy of the Certificate of Commencement of Business (In case of Public Limited company)
Valid Trade License;

H. Minor A/C
Two copies of photograph of the account Operator (guardian) who will operate the A/C
Introduction
Nationality certificate of the account operator or photocopy of Passport (1 to 7) Pages/ copy of National
ID Card
Minor’s Birth Certificate
Minor’s date of birth & photograph duly certified by the guardian.
Transaction Profile
KYC Form
Letter of Thanks & Letter of Welcome
Minor’s attainment of major to be mentioned on the form