Correspondent bank account

Correspondent bank account

Our Clients’ ask Healy Consultants to secure quality correspondent accounts through our extensive network of global banking partners (click link);

  • Advantages of a correspondent bank account

    correspondent account
    1. Decreased operational time for debiting/ crediting funds to and from Client accounts;
    2. Opening of quality nostro and loro (Vostro) accounts with standing credit lines;
    3. Enhanced network of peers in every continent;
    4. Foreign currency payment and under maintenance services are outsourced;
    5. Deposit and clearing services are optimized;
    6. Convenient reach to Cash Treasury clearing solutions;
    7. Easy check collection in a foreign country;
    8. Certification of documents in the correspondent bank office;
    9. Gained access to SEPA and US financial systems by nested accounts.
  • Healy Consultants fees

    Our fees for providing a corresponding banking service amount to US$7,900 and will be paid in three instalments as follows;

    • US$2,475 payable before our team submits quality applications to and negotiates with our preferred global banks. Our goal is to secure multiple preliminary written approvals from multiple banks;
    • An additional US$2,475 before we submit a formal correspondent bank account application to your preferred bank; and
    • US$2,950 to be settled with Healy Consultants, when the correspondent bank account number is provided to your Firm;

    Healy Consultants will refund our Client 50% of fees received if one of the following occurs:

    • Failure to secure preliminary written approval within 2 months;
    • Failure to secure a correspondent bank number within 4 months.


  • The correspondent bank account opening process

    1. Healy Consultants and our Client agrees a detailed project plan (click link); then
    2. We agree correspondent account targets from our international correspondent banking partners;
    3. Healy Consultants completes our Client due diligence procedures, including compliance checks for AML and CFT;
    4. Each week, Healy Consultants supplies our Client a detailed engagement status update (click link), including a table of global banks contacted and their replies;
    5. Healy Consultants secure preliminary written approval from multiple global correspondent banks. Our Client authorises Healy Consultants to submit a formal application;
    6. The majority of our Clients’ request multiple correspondent bank account solutions;
    7. Our Client and the correspondent bank complete a skype interview and multiple phone discussions;
    8. Healy Consultants timely supplies all due diligence the correspondent bank requires;
    9. After correspondent bank account approval, Healy Consultants assists our Client activate e-banking;
    10. The engagement is complete;

Conclusion

For international financial companies, Healy Consultants assists our Clients open a quality correspondent bank account with established institutions in every continent.

Contact us

For additional information on our correspondent banking services, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Mr. Simon Guidecoq, directly:
client relationship officer - Simon