Banks don’t “mysteriously” reject applications. Most of the time, your file just doesn’t answer the risk questions fast enough. You end up in an email loop. Or a polite “not at this time.”
This post fixes that.
You’ll get a bank pack checklist you can follow, plus templates you can copy into a PDF binder so compliance can review you like a normal client—not a puzzle.
Note: Requirements vary by bank, country, and risk profile. The goal is to show clarity on ownership, authority, and cash flows—the areas banks scrutinize hardest.
What “bank pack” means
A bank pack is a single, organized submission that proves four things:
- Who you are (identity + address + tax residency)
- Who controls the company (UBOs + directors + signers)
- What the business does (products/services, clients, geographies)
- Where the money comes from and where it goes (flows, volumes, counterparties)
Some advisors call it “audit-ready” for a reason: when it’s assembled properly, banks can review it quickly as one file, instead of chasing 12 missing items.
Bank Pack Checklist (Master Table of Contents)
Think in sections. Your goal is to hand over a PDF that has a cover page, an index, and numbered exhibits.
Section A — Cover + Index
- A1. Cover page (company name, registration number, bank you’re applying to, date)
- A2. Index / Table of contents (Exhibit A, B, C…)
Section B — Entity Existence (prove the company is real)
- Certificate of Incorporation / Formation (or equivalent)
- Articles / Charter / Memorandum (whatever your jurisdiction issues)
- Certificate of Good Standing (if available)
- Business license / trade license (if applicable)
A plain example of what banks ask for, even at the local level: formation documents + good standing + evidence of signing authority.
Section C — Authority & Governance (prove who can sign)
- Board resolution / company resolution naming authorized signers
- Signatory list / mandate
- Specimen signatures (bank format if provided)
- If using delegates: power of attorney / delegation document (where legal)
Banks often want documentation noting signers and signing authority (minutes/resolutions) because they need to know who can bind the company.
Section D — Ownership & Control (prove who ultimately owns/controls)
- UBO / ownership & control chart
- Share register / shareholder register (or cap table extract)
- ID + address proof for UBOs
- If corporate shareholder exists: its corporate documents too (up the chain)
Banks (and payment institutions) commonly treat UBOs as those who own 25%+ (ownership prong) plus at least one “control” person.
Section E — People Pack (IDs and “who is this person”)
For each director, UBO, and signer:
- Passport / government ID
- Proof of address (utility bill / bank statement)
- Short CV or LinkedIn
- Tax residency self-certification / TIN info (bank provides form)
Many banks reject address proof if it’s not recent—some talk in 60 days terms, others accept up to 90 days. Treat “fresh” as non-negotiable.
Section F — Business Narrative (the one page that prevents 20 emails)
- One-page business narrative
- Business model summary (who pays you, why, and how)
- Website + domain email (helps credibility)
- Products/services list
- Countries you operate in (and why)
A good example checklist calls for a succinct narrative plus payment flows and counterparties.
Section G — Commercial Evidence (prove the business isn’t theoretical)
Pick what’s relevant:
- Signed contracts / LOIs
- Invoices + proof of payment (even one “full cycle” helps)
- Supplier agreements
- Platform screenshots (if online business)
- Shipping docs (if trading)
Section H — Financials & Funding (prove the money makes sense)
- Latest financials (audited if available; otherwise management accounts)
- Forecast (simple, 12 months)
- Bank statements that show operating history (where possible)
- Source of funds for initial deposit
- Source of wealth (if asked; common in EDD)
Section I — Compliance Add-On (only if your profile triggers EDD)
This is the “extra module” that saves you if you’re higher risk (fintech, crypto exposure, MSB, heavy cross-border, sanctioned corridors).
Include:
- Compliance program overview (KYC/AML controls)
- Risk assessment summary (high-level)
- Sanctions screening approach
- Licensing / registration proof (if regulated)
Banks onboarding regulated or higher-risk businesses often expect a “bank pack” that includes compliance documents and transaction flow explanations—submitting partial files is a reliable way to get rejected.
Templates you can copy/paste into your bank pack
1) Bank Pack Cover Page (template)
BANK PACK – CORPORATE ACCOUNT OPENING
Company: [Legal Name]
Registration No.: [Number]
Jurisdiction: [Country/State]
Registered Address: [Address]
Primary Contact: [Name, Role, Email, Phone]
Requested Products: [Business checking / multi-currency / merchant / etc.]
Submission Date: [YYYY-MM-DD]
Version: v1.0
2) Index / Exhibit List (template)
Exhibit A – Entity documents
Exhibit B – Governance & signing authority
Exhibit C – Ownership & control (UBO chart + registers)
Exhibit D – Individuals (IDs, address proofs, CVs)
Exhibit E – Business narrative (1 page)
Exhibit F – Counterparty list + flow-of-funds
Exhibit G – Commercial evidence (contracts/invoices)
Exhibit H – Financials + funding
Exhibit I – Compliance add-on (if applicable)
3) One-Page Business Narrative (template)
1) What we sell:
[Plain-English description. One paragraph.]
2) Who pays us:
- Customer types:
- Typical contract size:
- Billing model (invoice/subscription/etc.):
3) Where business happens:
- Operating countries:
- Customer countries:
- Supplier/contractor countries:
4) How money moves:
- Inflows: [from whom → via what rails → frequency]
- Outflows: [to whom → why → frequency]
- Monthly expected volume: [low/base/high]
5) Why this account:
[Why this bank/currency/account type is needed.]
6) Attachments included:
[Contracts, invoices, LOIs, website, etc.]
4) Counterparty List (quick format)
- Name
- Country
- Relationship (client/supplier/platform)
- What they do
- Expected monthly volume
- Payment method (wire/card/PSP/etc.)
This mirrors what bank-readiness checklists typically ask for (counterparty list + commercial evidence).
Common rejection reasons (and how to fix them)
Stale or inconsistent ID/address docs
Fix: refresh proofs 7–10 days before submission; don’t let anything expire while you’re waiting for the meeting.
“Consulting/trading” with no detail
Fix: rewrite into banker language: what you sell, to whom, and where; attach one piece of commercial evidence.
Unclear ownership chain
Fix: include a signed UBO chart that matches registers/minutes and shows percentages clearly.
Sending a partial file “for now”
Fix: don’t. Banks interpret that as future pain. Package it once, properly.