Guaranteed corporate bank account approvals


citibank
standard chartered
HSBC
barclays

Since 2003, Healy Consultants Group PLC assists multi-national Clients’ secure multi-currency corporate bank account approvals in every country on the planet. We are the best in the world at securing multi-currency corporate bank account approvals for our Clients.

Because it is more challenging (click link) to open international multi-currency corporate bank accounts, multi-national Clients engage Healy Consultants Group PLC to supply guaranteed solutions.

  • Our guarantee

    • All going well and within 2 months from receipt of all Know Your Customer due diligence documents, our Client should expect at least one multi-currency corporate bank account approval;
    • In the unlikely event Healy Consultants Group PLC fails to meet our guarantee to supply at least one multi-currency corporate bank account numbers, refer to fee refund section below;
    • All going well and within 3 months, our Client should expect at least two multi-currency corporate bank account approvals;
    • For the majority of our multi-national Clients, the bank signatory does not need to travel to meet the bank officer;
  • Our strategy

    To maximize the probability of successful and timely approval of a multi-currency corporate bank account, Healy Consultants Group PLC employs the following simple, practical strategies:

    • Together with our Client, we prepare a quality business plan that clearly explains our Clients’ existing and future business including i) products and services and ii) international customers and Suppliers and iii) details of shareholders and directors;
    • With the cooperation of our Client, we gather substantial Know Your Customer due diligence documentation and other information most frequently required by Banks. Sometimes the information collected is more than what banks need. That’s because transparency and openness to supply information to Banks internal legal and compliance department is key when they are assessing the risk profile or a potential new customer;
    • In the event some of our Clients were unsuccessful in their communications with international banks before engaging Healy Consultants Group PLC, we first discuss and understand the reasons for rejections and adjust our banking strategy;
    • Through our 16-year old banking network, our staff approach multiple quality banks in all around the World. We supply our bank officers with the business plan and all relevant Know Your Customer due diligence documents. From multiple banks, we secure in writing, a welcome email, inviting our Client to submit a formal corporate bank account opening application;
    • Each week, our staff include our multi-national Clients’ in email communication with international banks – so you can see in real time engagement problems and solutions and progress;
    • All going well and within 2 months thereafter, we expect at least one multi-currency corporate bank account approval. All going well and within 3 months, we expect multi-currency corporate bank account approval from a second or third Bank;
    • Our multi-national Clients advise how many multi-currency corporate bank accounts they need and settle the remaining engagement fees;
    • Immediately thereafter, Healy Consultants Group PLC will courier a complete banking package to our Client for their e-banking access;
  • Healy Consultants Group PLC fees

    For the majority of our multi-national Clients with low risk businesses, Healy Consultants Group PLC standard fee is i) US$ 4,950 for the first multi-currency corporate bank account approval and ii) US$ 1,500 for each additional corporate bank account approval thereafter for the same low risk entity;

    For transparency purposes, multi-currency corporate bank account opening fees are outlined in the table below and can be paid by instalments (click link);

    TaskOur fee? US$Comments?
    Corporate bank account opening together with company registration4,950Standard fee for low risk business set up with Healy Consultants PLC
    Corporate bank account opening only5,950For our Client’s existing company, regardless of jurisdiction
    Corporate bank account opening for high-risk business7,950For example: PSP, fintech, brokerages, FSP, gaming businesses
    Escrow bank accounts4,950To receive and settle funds in every country on the planet
    Crypto-currency corporate bank account opening7,950Refer to this web page (click link) for more information
    Correspondent bank account opening7,950Refer to this web page (click link) for more information
    Corporate merchant account opening only5,950For our Client’s existing company, regardless of jurisdiction
    Corporate merchant account opening only for high-risk business7,950For our Client’s existing company, regardless of jurisdiction

  • Fee refunds

    In the unfortunate event Healy Consultants Group PLC fails to meet our guarantee to supply at least one multi-currency corporate bank account numbers, the following results / solutions will occur:

    NoUnfortunate event?Result!
    1.

    Failure to supply corporate bank account numbers because of Healy Consultants Group PLC staff errors: as outlined on this web page;

    • Our Client receives a full engagement fee refund; or
    • Our Client may ask us to continue negotiating with the banks to secure a multi-currency corporate bank account solution.
    2.

    Failure to supply corporate bank account numbers because of errors or information/documentation withheld by our Client: as outlined on this web page;

    • Our Client is not entitled to any engagement fee refund; and;
    • If agreed, Healy Consultants Group PLC will continue our search for a multi-currency corporate bank account solution.
    3.

    Failure to supply corporate bank account numbers because of the bank in-house Legal and Compliance Department rejections

    • Our Client is not entitled to any engagement fee refund; and
    • Healy Consultants Group PLC will continue our search for a multi-currency corporate bank account solution and submit up to 2 formal applications without charging additional fees;
    4.

    The bank requires bank signatory to visit the bank for a one hour interview with the bank officer;

    • Our Client is entitled up to US$950 engagement fee refund;
    5.

    Within 2 months from signing our engagement letter, no bank supplies a welcome email for our Client’s business

    • Healy Consultants Group PLC will retain US$950 and refund all other engagement fees paid by our Client;
    6.

    In the engagement letter, our Client voluntarily discloses negative information re his business (eg. past bankrupcies, past convictions of directors and shareholders);

    • Healy Consultants Group PLC will continue the engagement and adjust our bank strategy; or
    • If Healy Consultants Group PLC fails to secure a bank welcome email for our Clients, we will retain US$950 and refund all other engagement fees paid by our Client;
    7.

    During the engagement, Healy Consultants Group PLC or the bank discovers undisclosed negative information about our Client business;

    • Healy Consultants Group PLC may terminate the engagement without a fee refund to our Client; or
    • Healy Consultants Group PLC will continue the engagement and adjust our bank strategy; or
    • My Firm will continue the engagement for additional fees;
    8.

    Our staff promised unrealistic timelines to secure a corporate bank account (less than 2 months without travel, less than 1 month with travel);

    Our staff expressed confidence in Healy Consultants Group PLC ability to supply deliverables within reasonable timelines, but the Banks or our Clients cause unexpected delays;

    9.

    Within 2 months, no bank confirms interest for the business of our Client (full refund less US$950);

    Within 2 months, our staff reverts with banking solutions but our Client does not wish to proceed with them;

    10.

    Our staff omitted to inform our Client that banks require detailed KYC documentation on each i) signatory ii) shareholder iii) director and iv) UBO of the business applying for a corporate bank account;

    Our Client is uncomfortable or unable to supply KYC documentation requested by the Banks;

  • What can go wrong?

    Tier 1 banks are less welcoming of international entrepreneurs because i) Tier 1 banks increasingly prefer to onboard medium to large-sized Clients and ii) they prefer to onboard companies incorporated in the country where the bank operates. Where Tier 1 banks are not an option for our Clients, Healy Consultants offer Tier 2 bank solutions around the world;

    To meet our Clients’ expectations, your Firm should be aware of the following challenges that may arise during the multi-currency corporate bank account opening engagement:

    NoChallenge?Solution?
    1.

    During their review of the corporate bank account opening application, the bank in-house Legal and Compliance Department reverts multiple times to request additional information - thus causing engagement delays;

    • Our Client and Healy Consultants Group PLC staff work fast to collect and pass the additional documents to the bank;
    2.

    Our Client’s preferred bank's in-house Legal and Compliance Department requests a meeting (click link) with the bank signatory, thus causing engagement delays;

    • Healy Consultants Group PLC staff to aggressively and skillfully negotiate with the bank officer i) for a travel exemption and ii) our staff visit the bank on our Client’s behalf with a PoA (travel reimbursements may apply); or
    • Healy Consultants Group PLC staff aggressively and skillfully negotiate with with the bank officer i) so a skype video call will suffice and ii) a visit to a bank branch in the city of our Client will suffice;
    • If all of the above fails, our Client to travel or we will look for an alternative bank and submit up to two additional applications, at no additional fees;
    3.

    More than 20 banks decline to welcome a formal multi-currency corporate bank account application for our Clients business, causing engagement delays;

    • Healy Consultants Group PLC to contact 10 more banks in more flexible locations;
    • If the above fails, Healy Consultants Group PLC will apply our refund policy;
    4.

    The bank in-house Legal and Compliance Department requires certified, translated and apostilled physical copies of Client due diligence, thus causing engagement delays;

    • Healy Consultants Group PLC will negotiate a waiver;
    • If this waiver is not granted and with Healy Consultants Group PLC help, our Client completes this administrative task. Our Client should budget for additional third-party costs;
    5.

    The bank imposes high onboarding and maintenance fees;

    • Because of the strength of our banking relationships, Healy Consultants Group PLC will aggressively and skillfully negotiate with the bank for fee exemption;
    • If the above fails, our Firm will source for an alternative bank and submit up to two additional applications, at no additional fees;
    6.

    Our Client’s preferred bank’s in-house Legal and Compliance Department rejects the multi-currency corporate bank account opening application, thus causing engagement delays;

    • Our banking team timely sources an alternative flexible bank of similar quality, facilities and reputation;
    • Our Firm will source for an alternative bank and submit up to two additional applications, at no additional fees;
    7.

    The bank in-house Legal and Compliance Department demands our Client to register a local subsidiary to meet the requirement of ‘local business presence’, thus causing engagement delays;

    • Healy Consultants Group PLC to aggressively and skillfully negotiate with the bank officer for an exemption from this costly requirement; or
    • Our Client to consider additional international corporate bank account opening solutions;
    8.

    The banks in-house Legal and Compliance Department discovers undisclosed negative information about our Client business, thus causing significant engagement delays;

    • Healy Consultants Group PLC may terminate the engagement without a fee refund to our Client; or
    • Healy Consultants Group PLC will continue the engagement and adjust our bank strategy; or
    • My Firm will continue the engagement for additional fees;
    9.

    The bank reverts requesting the source evidence of proof of business in the country where i) the corporate bank account will be including sales contracts and invoices with local business, and ii) jurisdiction of company incorporation, including lease agreement and employement contracts;

    • Our Client and Healy Consultants Group PLC staff work fast to collect and pass the additional documents to the bank;
    • Our Client and Healy Consultants Group PLC staff work fast to collect and pass the additional documents to the bank;
    • Our Client to consider alternative international corporate bank account opening solutions;

  • What you should know about international banking

    • Because global interest rates are low, international banks make little profits from current accounts. Consequently, international banks’ appetite for new multi-currency corporate bank account opening applications is low. As a result, global banks are more likely to reject new multi-currency corporate bank account opening applications;
    • Because of the above, customer demand for new corporate bank accounts is higher than the supply of international banking solutions. Consequently, international banks choose vanilla customers that tick all the boxes of a low risk Client. For example, banks welcome multi-currency corporate bank account opening applications from a company registered in the same country with i) local staff and office premises and ii) local customer and Supplier invoices;
    • Unfortunately, international banks classify the following quality Clients as High-Risk Customers:
      • A foreign company opening a multi-currency corporate bank account in a different country. For example, a Singaporean LLC wishing to open a multi-currency corporate bank account in Germany;
      • A tax haven entity opening a multi-currency corporate bank account with an international bank. For example, a BVI IBC wanting a multi-currency corporate bank account with HSBC London;
      • A foreign company with business relationships with high risk jurisdictions, i.e. Client/Supplier who is from or in any country or jurisdiction known to have inadequate measures to prevent money laundering and the financing of terrorism, sanctioned jurisdictions, and jurisdiction identified as having significant corruption and/or criminal activity;
    • When dealing with international banks, the bank’s relationship manager is willing to help Healy Consultants Group PLC and our multi-national Clients. The role of this bank officer is to collect information and ensure an accurate and complete multi-currency corporate bank account opening application is submitted to the bank in-house Legal and Compliance Department;
    • Unfortunately, the bank in-house Legal and Compliance Department has ultimate power of approval over new multi-currency corporate bank account applications. This Department is extremely risk adverse and often lacks commercial reality. Furthermore, the in-house Legal and Compliance Department is not allowed by banking regulations to speak to customers nor to Healy Consultants Group PLC. All communications must go through the front office bank officer. Consequently, our Clients do not get the opportunity to communicate directly with the bank decision makers, to properly explain their business and the risks the bank perceives.
    • Upon successful multi-currency corporate bank account approval and once the business relationship with the customer has been established, the bank’s in-house Legal and Compliance Department continues to monitor the customer corporate bank account. Therefore, Healy Consultants Group PLC recommends our Clients to put in place internal systems and processes to ensure continuing compliance of the banking transaction of our Client corporate bank account to maintain healthy corporate relationship with the Bank;
  • Conclusion

    If you need Healy Consultants Group PLC’s help to register a new company and open a multi-currency corporate bank account, email us and complete this questionnaire. Within 3 hours, my staff will email reply to you;

    If your company need Healy Consultants Group PLC help to only open a multi-currency corporate bank account, email us and complete this questionnaire. Within 3 hours, my staff will email reply to you.