Opening a relationship with a bank
Does any particular procedure have to be respected?
The term opening a relationship does not simply denote opening an account for a customer, but also includes the mere fact of processing a transaction for a passing customer or giving a mandate to a third party.
When a relationship is opened, the banker who receives a customer will generally want to hold a preliminary discussion to determine such points as:
• The customer's identity
Surname, first name, nationality, place and date of birth, marital status, domicile, profession
• Origin of the funds
What is the activity which generated these funds?
Through which different stages have these funds passed?
Who is the effective beneficiary or the beneficial owner?
• Nature of the transactions
For whom is this money intended?
What amounts and frequencies are involved?
Does the circuit followed by the money have a logical link with the activity which generated the funds?
• Level of risk presented by the customer
The employee uses their own professionalism and common sense to make this judgement; they must assess the circumstances and the objectivity of the computerized checks.
