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.