Business Current Account

BUSINESS CURRENT ACCOUNT

A business current account is an account used exclusively by businesses, governments, and non-governmental organizations for their financial transactions and other dealings.


GOVERNMENT-RELATED ACCOUNTS

To open a government-related account, the following documents are required:

  • 1. Letter of introduction from the Ministry, Local Government Administrator, etc.
  • 2. Copy of photo identity such as a passport, national ID card, driver's license, etc.
  • 3. Two (2) passport size photos with a background.
  • 4. Proof of residence such as utility bills, rent receipt, work permit, etc.
  • 5. Copy of Memorandum of Understanding or other relevant document.
  • 6. Any related document/certificate confirming legal status, etc.
  • 7. Risk Rating.


SOLE PROPRIETORSHIP - UNINCORPORATED BUSINESSES ACCOUNTS

To open a sole proprietorship account, the following documents are required:

  • 1. Letter of introduction.
  • 2. Copy of signatories' photo identity such as a passport, national ID card, etc.
  • 3. Two (2) passport size photos with a white background.
  • 4. Proof of residence such as utility bills, rent receipt, work permit, etc.
  • 5. Copy of Business Registration Certificate.
  • 6. Copy of Application for Business Registration Certificate.
  • 7. Copy of Application for Business Registration.
  • 8. Tax Clearance Certificate.
  • 9. Risk Rating.


CLUBS, SOCIETIES, ASSOCIATIONS, AND NGOs ACCOUNTS:

To open an account for clubs, societies, associations, and NGOs, the following documents are required:

  • 1. Letter of introduction from the Ministry, Local Government Administrator, etc.
  • 2. Copy of photo identity such as a passport, national ID card, driver's license, etc.
  • 3. Two passport size photos with a white background.
  • 4. Proof of residence such as utility bills and rent receipt.
  • 5. Constitution.
  • 6. Copy of Memorandum of Understanding or other relevant document.
  • 7. Any related document/certificate confirming legal status.


Risk Rating Process for Closing Accounts:

  • 1. Customer Request.
  • 2. Based on Request from Management or Court Order for Deceased.


LIMITED LIABILITY COMPANIES - CORPORATE ACCOUNTS

To open a limited liability company account, the following documents are required:

  • 1. Copy of signatories' photo identity such as a passport, national ID card, etc.
  • 2. Certified copy of Memorandum and Articles of Association.
  • 3. Proof of residence such as utility bills, rent receipt, work permit, etc.
  • 4. Copy of Business Registration Certificate.
  • 5. Copy of Certificate of Incorporation.
  • 6. Copy of Current Business License Certificate.
  • 7. Copy of Board Resolution signed by Shareholder.
  • 8. For recent registration application forms, a resident permit (non-Sierra Leoneans) and two (2) passport size photos are required.
  • 9. Application from CAC or Registry.
  • 10. Tax clearance certificate.
  • 11. Risk Rating.

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