Help with opening corporate, safeguarding, correspondent accounts

Are business, safeguarding, and correspondent accounts right for your business?

Traditional business setups often involve just a handful of general, operational, and settlement accounts. However, you might need specialized accounts if your company offers additional services like fund transfers, cross-financing projects, or other financial operations involving client or third-party funds.

Many countries’ regulators demand the presence of specialized accounts, such as business, safeguarding, and correspondent accounts, in addition to licenses. These accounts help segregate finances, control funds, and implement algorithms to ensure the safety of money and minimize risks for your business clients.

At IFB, our experts will assist you in selecting the necessary account types and even help you open them at relevant financial institutions.

Here are the different account types

Corporate. This is the classic digital banking cell for enterprises. It holds finances, including income and investments. Typically, multiple accounts of this type are used for better fund organization.
Safeguarding. A specialized account for holding clients’ funds. Regulators often require such accounts to ensure the transparency and reliability of financial transactions between users.
Correspondent. This is an account held by a fintech company or bank in another organization of the same type. It enables international transactions with fiat currency conversion while adhering to strict regulatory requirements and regional laws.

Benefits of having corporate, safeguarding, and correspondent accounts

The primary advantage lies in obtaining regulatory approval to operate within your chosen sector in the country where your company is registered. Alongside this, you can offer a range of additional financial services. For instance, you can engage in fund transfers, provide startup financing, and more.

Moreover, having business, safeguarding, and correspondent accounts allows you to:

Engage in B2B, C2B, and C2C business transactions.
Effectively manage accounts by allocating funds to separate cells.
Monitor the budget’s status more efficiently and mitigate risks.
Plan future operations, scale your company, and invest in projects.
Earn commissions for transactions, money-related activities, and more.

Depending on your company’s line work, you need to open one or several of these account types. It’s indeed a complex task, considering the typical requirements of banks and financial institutions. However, there’s no need to worry because the key routine of this operation will be taken care of by the experts at IFB.

List of services for opening corporate, safeguarding, and correspondent accounts

Our service package includes:

Corporate analysis and understanding its specifics.
Professional consultation.
Document collection.
Preparation for the account opening application.
Continuous support throughout the process.
Optimization of account management.
Handling related legal tasks.

The cost of our services varies depending on several factors, such as the project’s urgency and the complexity of the tasks involved. Therefore, the pricing is tailored to each case.

Collaboration process for opening accounts

We offer you the best interaction model, requiring minimal effort and resources on your part:

STAGE 1

Understanding your business specifics

Initially, we analyze your company’s operations to select the account types necessary for your business needs.

STAGE 2

Consultation and planning

We present you with various options for setting up new accounts and guide you on organizing them. Together, we agree on an action plan.

STAGE 3

Document preparation and addressing details

We compile a list of documents required for further processing directly related to your company, its transactions, and activities.

STAGE 4

Agreement signing

We formalize our collaboration with an agreement outlining our experts’ hiring or project delegation. We receive the initial payment and provide prepared corporate documents.

STAGE 5

Client support and legal assistance

We submit requests for opening specialized accounts, handle their processing, and address any other legal matters.

STAGE 6

Completing the account setup process

We assess the results of our work and, upon completion, receive the final payment, providing you with all the accompanying documentation.

Do you want to quickly and effortlessly open corporate, safeguarding, and correspondent accounts for your company? Contact IFB manager now and receive comprehensive consultation on this matter!

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