Completing bank account opening form

[turtelturte]

Hello guys, i'm trying to open company bank account, because of the lack of experience in this field (this is my first time), i'm not sure what to write in some sections of the Account opening application form.
How should i complete "Amount& Frequency of expected transactions inflow (monthly)" if it small softwere development company whith expected inflow of 13'000-15'000 EUR monthly (which i will send from my company advcash account), so i'm able to divide this amount, but i don't know how better to do it , and how many transactions should i specify in this section. And if i would like to send this amount from my future company bank account to my personal bank account what should i write in "Amount& Frequency of expected transactions outflow(monthly)" section?
What do you think about "Softweare development" answer in "Initial deposit and source of funds" field, is this fit? And also what better to write in "Reason of opening Bank account" field (if i'm opening accountin in foreign jurisdiction).
I Have only one day to complete this form. I will be very very appreciated for any of your help.

 

[Internationaloff]

The form of which bank?

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[turtelturte]

Internationaloff said:
The form of which bank?
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RCB Bank Cyprus, any advices?

 

[Martin Everson]

"Amount& Frequency of expected transactions inflow (monthly)" - enter the average expected amount and how often in a month

"Amount& Frequency of expected transactions outflow(monthly)" - enter the average expected amount and how often in a month. Keep this figure around 50% of inflow amount.

"Initial deposit and source of funds" - They are asking for the cash amount and where the money comes from i.e from the company account at another bank, EMI, your personal account or a third-party.

"Reason for opening account" - Because Cyprus banks are very stable and safe place to keep money..lol 😕 or just say recommended by a friend.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[turtelturte]

Martin Everson said:
"Initial deposit and source of funds" - They are asking for the cash amount and where the money comes from i.e from the company account at another bank, EMI, your personal account or a third-party.
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Is that okay If money come from ADVcash company account? How should i write about it?

 

[JohnLocke]

Martin Everson said:
"Reason for opening account" - Because Cyprus banks are very stable and safe place to keep money..lol 😕 or just say recommended by a friend.
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In 10 years and even during the trouble in banking world in 2008/09 and 10 I have not lost a single euro in Cyprus.

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[negon]

turtelturte said:
Hello guys, i'm trying to open company bank account, because of the lack of experience in this field (this is my first time), i'm not sure what to write in some sections of the Account opening application form.
How should i complete "Amount& Frequency of expected transactions inflow (monthly)" if it small softwere development company whith expected inflow of 13'000-15'000 EUR monthly (which i will send from my company advcash account), so i'm able to divide this amount, but i don't know how better to do it , and how many transactions should i specify in this section. And if i would like to send this amount from my future company bank account to my personal bank account what should i write in "Amount& Frequency of expected transactions outflow(monthly)" section?
What do you think about "Softweare development" answer in "Initial deposit and source of funds" field, is this fit? And also what better to write in "Reason of opening Bank account" field (if i'm opening accountin in foreign jurisdiction).
I Have only one day to complete this form. I will be very very appreciated for any of your help.
Click to expand...

software development will work fine.. just don't put in any affiliate, crypto or similar business it is considered high risk and no go by the banks.

 

[Martin Everson]

turtelturte said:
Is that okay If money come from ADVcash company account? How should i write about it?
Click to expand...

Yes, just refer to it as payment or merchant processor or similar.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[benji75]

auric said:
software development will work fine.. just don't put in any affiliate, crypto or similar business it is considered high risk and no go by the banks.
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but wont they know when you deposit and withdraw to crypto exchanges anyways ?

 

[happyjohn]

not if you use any EMI provider inbetween.. have done that many times already 😀