BANK

Savings Accounts

Interested in:

Business Saving Account

One way to help your business grow is by opening a Business Savings Account. The KCB Business Savings Account is perfect for growing your business and securing your finances.

Benefits

Benefits

What We Need From You

From Sole Proprietor:

  • Two recent colored passport size photos
  • Original and two photocopies of National ID or passport
  • Reference letter from employer or from existing KCB customer.
  • Duly filled and signed physical verification form. Must include phone number, physical residence or local administrator verification.
  • Minimum account opening balance as applies
  • Original and two photocopies of Certificate of Registration
  • Copy of Business Tax Certificate (TIN)
  • Duly filled FATCA forms from the IRS website. (W-8Ben for non-US persons and the W-9 for US citizens)
  • A confirmation of the source of inward funds, the US or another foreign country

From Limited Liability Company:

  • Two recent colored passport size photos of the directors
  • Original and two photocopies of National ID or passport of each director verified by a bank official
  • Reference letter for each director from an existing KCB customer or parent Ministry for the Investors.
  • Duly filled and signed physical verification form. Must include phone number, physical residence or local administrator verification.
  • Minimum account opening balance as applies
  • Original and two photocopies of Certificate of Registration/Incorporation from Ministry of Legal Affairs
  • Membership Certificate from the Chamber of Commerce
  • Copy of Business Tax Certificate (TIN) from the Directorate of Taxation
  • Tax clearance form from the Tax Authority.
  • Properly drawn Articles and Memorandum of Association
  • Board of Directors Resolution to open account on company letterhead with company seal stating specified mandate, account type and currency type.
  • Registration Certificate from the Ministry of Trade & Investment
  • Document of Business Search
  • Duly filled FATCA forms from the IRS website. (W-8Ben for non-US persons and the W-9 for US citizens)
  • A confirmation of the source of inward funds, the US or another foreign country

N/B

  • Directors Identification must be physically done, and passport physically verified.
  • Must have confirmed introduction letter from employer or two KCB account holders – verified and accepted by bank official
  • All account opening documents and form must be stamped and verified by a Bank official.

From Non-Governmental Organizations (NGOs):

  • Two recent colored passport size photos of each director/signatory
  • Original and two photocopies of National ID or passport of each director verified by a bank official
  • Letter of Introduction or reference from the NGO Headquarters
  • Reference letter for each director from an existing KCB customer or parent Ministry for the Investors.
  • Duly filled and signed physical verification form. Must include phone number, physical residence or local administrator verification.
  • Minimum opening balance as applies
  • Utility bills such as water, power, and rent should be attached
  • Original and two copies of Certificate of Registration from South Sudan Relief and Rehabilitation Commission (SSRRC)
  • The NGO Governing Council Resolution to open the account on a letter head with the NGO seal
  • Copies of VISA and Alien Certificate of Registration for foreign nationals.
  • Community Based Organizations (CBOs) should have a Certificate of Registration from the relevant government agency.
  • NGO Resolution to open the account on the letterhead indicating signing mandate, account type, and signed by all partners.
  • A summarized copy of the NGO document, project document and rules and regulations for certification
  • For US related NGOs, duly filled FATCA forms (W-8Ben E) and obtain GIIN from the IRS website
  • A confirmation of the source of inward funds, the US or another foreign country
  • A copy of donor agreement or verified letter from foreign donor for NGOs expecting foreign funding

From Government Institutions:

  • Two recent colored passport size photos of each signatory
  • Original and two photocopies of National ID or passport for each signatory
  • Letter from Parent Ministry requesting bank to open account, stating mandate, signatories, purpose of account and signed by the Under Secretary or Director General Finance & administration at the state level.
  • Duly filled and signed physical verification form. Must include phone number, physical residence or local administrator verification.
  • Minimum opening balance as applies
  • Certificate of Registration

From Consulates/Embassies/High Commissions:

  • Two latest colored passport size photos for each signatory
  • Original and two photocopies of National ID or passport of each director verified by a bank official
  • Letter of Introduction or reference from the Foreign Affairs Home Government for each signatory
  • Duly filled and signed physical verification form. Must include phone number, physical residence or local administrator verification.
  • Minimum opening balance as applies
  • Utility bills such as water, power, and rent should be attached
  • Original and certified letters from the Home Government requesting to open account, stating mandate and signatories.
  • Letter of Authorization to open account from the local Foreign Affairs office
  • Approval from the Head of Business or Managing Director
  • Valid VISAs of the signatories
  • Risk matrix. Confirm the risk classification of the account as per the risk matrix

From Associations/Churches/Committees:

  • Two recent colored passport size photos or each signatory.
  • Original and two photocopies of National ID or passport of each director verified by a bank official
  • Reference from parent ministry/parish/main body
  • Duly filled and signed physical verification form. Must include phone number, plot and house number, landmarks or local administrator verification for the company
  • Original letter of introduction detailing activities and funding for churches registered and funded from abroad.
  • Original and Copy of Certificate of Registration from Ministry of Legal affairs or Religious Affairs
  • Original and Copy of the constitution
  • Copy of minutes duly certified by the by chairman and secretary, authorizing opening of account and mode of operation
  • Societies reference from the Ministry of Social Services
  • Officials’ Resolution to open the account on company letterhead with seal, indicating signing mandate, account type.
  • For US related entities, duly filled FATCA forms (W-8Ben E) and obtain GIIN from the IRS website
  • A confirmation of the source of inward funds, the US or another foreign country
  • A copy of donor agreement or verified letter from foreign donor for churches expecting foreign funding

N/B

  • Directors Identification and passport & VISA for foreign nationals must be physically verified.
  • Must have confirmed introduction letter from employer or existing KCB account holder

From Trust/Estate Administration:

  • Original and copy of authenticated Letter of administration from the Supreme or High Court.
  • Two recent colored passport size photos of each trustee/administrator
  • Original and two photocopies of National ID or passport of each trustee/administrator.
  • For trust accounts, a Trust Deed original and copy authenticated at the Supreme court/High Court
  • Duly filled and signed physical verification form. Must include phone number, physical residence or local administrator verification.
  • Minimum opening balance as applies
  • Utility bills such as water, power, and rent to be attached
  • Original and two copies of the Certificate of Trust Registration
  • Original and copies of Alien Card or passport for foreign individuals
  • A Trustee Resolution to open the account indicating signing mandate, account type and must be on Trust letter head and signed by all Trustees.
  • For US related entities, duly filled FATCA forms (W-8Ben E) and obtain GIIN from the IRS website
  • A confirmation of the source of inward funds, the US or another foreign country
  • A copy of donor agreement or verified letter from foreign donor for Trusts expecting foreign funding

Rates and Fees

  • Low account opening deposit

Interested in Business Saving Account or have a question?