The bank account introduction is a professional service, which takes time and effort on our part. As approved business introducers we refer our client to the bank and carry a certain responsibility for it. We also assist the client with filling out the account opening forms, along with recommendations as to what information should be provided and how. Following the completion of the account application file, we introduce the client to a dedicated customer services manager in the bank. The banker would then take over the whole account application process directly. The bank account introduction is a one-time service.
Often our involvement in the bank account opening process may also include evaluating the clients’ needs and background in order to suggest which could be the most appropriate bank to approach.
During the bank account opening process we spend quite a lot of our time in order to assist the client with the account application. In fact, the time spent by a qualified member of staff on any particular account opening well exceeds the time required for the Cyprus company fomation itself. Therefore, it is quite logical that this service involves a fee, which is actually quite modest for the usual effort involved.
A bank introduction service is optional. Nothing precludes the company owners from approaching any banks at their own discretion. To that extent, we would still be around to provide any assistance that might be required to support the company during the account application.