Correspondent bank account in 2024

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

• Advantages of correspondent banking 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 Group fees

  Our fees for providing a corresponding banking service amount to US$14,950 and will be paid in three instalments as follows;

  • US$7,000 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$7,000 before we submit a formal correspondent bank account application to your preferred bank; and
  • US$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.

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• The correspondent bank account opening process

  1. Healy Consultants Group 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 Group completes our Client due diligence procedures, including compliance checks for AML and CFT;
  4. Each week, Healy Consultants Group supplies our Client a detailed engagement status update (click link), including a table of global banks contacted and their replies;
  5. Our Banking Team secures preliminary written approval from multiple global correspondent banks. Our Client authorises Healy Consultants Group to submit a formal application;
  6. Most 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 Group timely supplies all due diligence the correspondent bank requires;
  9. After correspondent bank account approval, Healy Consultants Group assists our Client activate e-banking;
  10. We successfully complete the correspondent bank account opening engagement;

For international financial companies, Healy Consultants assists our Clients open a quality foreign correspondent bank account with established institutions in every jurisdiction of the world.