CREDIT PROCEDURES

  • The applicant must be a customer of the bank with a satisfactory standing.
  • Acquire a loan form
  • Write an application letter stating the loan amount, purpose, and repayment duration, addressed to the branch manager.
  • The employer’s letter of undertaking is applicable to Mining & Easy loans.
  • Provide a valid Ghana card and a recent passport picture.
  • Filled a Pre-Credit Agreement form

 

OUR ACCOUNT OPENING REQUIREMENTS

The bank shall adopt the standard account opening forms and other uniform documentation requirements as directed by the Bank of Ghana.

 

INDIVIDUAL ACCOUNT

A single, unregistered person opened and operated this account, using their name to conduct all transactions. The following are the requirements:

  • Ensure you provide a verified Ghana Card as a valid form of identification.
  • Provide current passport photographs (two).
  • Provide a utility bill, tenancy agreement, or GPS address as proof of address.
  • Letter of introduction (salaried accounts)
  • Complete an account opening form.
  • Complete UARB’s standard mandate;
  • Risk profile
  • Scan and upload the signature card the same day.


JOINT ACCOUNT
Two or more individuals share this account. Any individual who is a member of the joint account can withdraw from the account and deposit into it. Close relatives or business partners typically share joint accounts.

 Features

  • Applicable to individuals
  • The Survivorship Clause ensures that if one individual dies, the other or any other individual will inherit the account.
  • For the purpose of withdrawal, they should inform the bank about the number of individuals who will be authorized signatories.

The following are the requirements:

  • Provide an application letter.
  • Provide current passport photographs (two) of the operators of the account.
  • Ensure you present a verified Ghana Card as a legitimate form of identification.
  • Provide a utility bill, tenancy agreement, or GPS address as proof of address.
  • Complete an account opening form.
  • Complete UARB’s standard mandate;
  • Risk profile
  • Scan and upload the signature card the same day.

 

SOLE PROPRIETORSHIP ACCOUNT
A sole proprietor is a person trading with a registered name such as “It is Possible Enterprise.” In accordance with Act 1962 (Act 151), the Registrar of Business Names must register such names.

The following are the requirements:

  • The proprietor/proprietress signs the application to open an account.
  • Form A
  • Certificate of Registration of the Business
  • Provide two current passport photographs of the proprietor/proprietress.
  • Personal identification of the proprietor (i.e., Ghana Card) and verification
  • Complete an account opening form.
  • Complete UARB’s standard mandate.
  • Risk Profile
  • Scan and upload the signature card the same day.

 

PARTNERSHIP ACCOUNT
This account caters to unincorporated business entities registered as partnership businesses, managed by two or more individuals who bear legal responsibility for profit, loss, assets, and liabilities.

The following are the requirements:

  • All partners must sign the application to open an account, or as the deed specifies.
  • Form B
  • Certificate of Registration of the Business
  • Provide current passport photographs (two) of the operators of the account.
  • The Partnership Agreement/Deed has a certified true copy.
  • The Ghana Card serves as the primary identification document for each signatory’s personal identification.
  • Complete an account opening form.
  • Complete UARB’s standard mandate.
  • At least two partners must verify the potential customer.
  • Risk Profile
  • Please scan and upload the signature on the same day.

 

CORPORATE/LIMITED LIABILITY COMPANY
The Companies Code of 2019 (Act 992), as amended by Act 2001 (Act 609), governs this legal entity, which is separate from its members. The shareholders usually own it, and it has a minimum of two (2) directors. The company needs to register as a limited liability company.

The following are the requirements:

  • The company’s board has decided to open the account.
  • Certificate of Incorporation of the company
  • The Registrar of Companies has certified Form 3 as a true copy.
  • The Constitution has been certified as a true copy by the Registrar of Companies.
  • Provide current passport photographs (two) of the operators of the account.
  • Verify each signatory’s personal identification (Ghana Card).
  • Complete an account opening form.
  • Complete UARB’s standard mandate.
  • The Office of the Registrar of Companies has provided a legal search report on the company.
  • Proof of a residential address for each director or shareholder
  • An authorized government agency or institution, where the company operates, may issue any other relevant document.
  • Risk Profile
  • Scan and upload the signature card the same day.

 

SOCIETIES, CLUBS & ASSOCIATIONS,
Nonprofit entities must meet at least two specific constitutional requirements to open it.

The following are the requirements:

  • Resolution authorizing account opening The resolution should refer to the minutes from the meeting where the decision was made.
  • Bye Laws/Constitution
  • Provide current passport photographs (two) of the operators of the account.
  • Ghana Verify the signatories’ cards for the account. It must be verified.
  • Complete an account opening form.
  • Complete UARB’s standard mandate.
  • Risk Profile

 

SCHOOL ACCOUNT

The following are the requirements:

  • The company’s board has decided to open the account.
  • Certificate of Incorporation of the company
  • The Registrar of Companies has certified Form 3 as a true copy.
  • The Constitution has been certified as a true copy by the Registrar of Companies.
  • Provide current passport photographs (two) of the operators of the account.
  • Verify each signatory’s personal identification (Ghana Card).
  • The National Schools Inspectorate Authority has granted approval.
  • Complete an account opening form.
  • Complete UARB’s standard mandate.
  • The Office of the Registrar of Companies has provided a legal search report on the company.
  • Proof of a residential address for each director or shareholder
  • An authorized government agency or institution, where the company operates, may issue any other relevant document.
  • Risk Profile

 

CHURCH ACCOUNT

The following are the requirements:

  • Resolution: open the account.
  • Certificate of Incorporation of the Church
  • The Registrar of Companies has certified Form 3 as a true copy.
  • The Constitution has been certified as a true copy by the Registrar of Companies.
  • Provide current passport photographs (two) of the operators of the account.
  • Verify each signatory’s personal identification (Ghana Card).
  • Complete an account opening form.
  • Complete UARB’s standard mandate.
  • The Office of the Registrar of Companies has provided a legal search report on the company.
  • Proof of a residential address for each director or shareholder
  • An authorized government agency or institution, where the company operates, may issue any other relevant document.
  • Risk Profile

GOVERNMENT AGENCIES
The design caters to government-owned entities, regardless of whether their activities are commercial or not. Examples are district assemblies, GES, and government hospitals.

The following are the requirements:

  • Application to open an account.
  • The State/Accountant General Department’s certified copy of the resolution or other document authorizing the account’s opening is required.
  • Provide current passport photographs (two) of the operators of the account.
  • Each signatory has a Ghana Card.
  • The office of the Controller and Accountant General has provided a letter of confirmation.
  • Complete an account opening form.
  • Complete UARB’s standard mandate.
  • The Chief Executive Officer of the organization is personally identified.
  • The Chief Executive Officer and the Head of Compliance/AMLRO must approve these accounts, as they are considered high-risk/PEP accounts and will be flagged accordingly.
  • Risk Profile

 

TRUST ACCOUNT
A custodian, who could be one of the child’s parents, guardians, or both, manages an account on behalf of a child (under 18 years old).

The following are the requirements:

  • Complete an account opening form.
  • Provide current passport photographs (two) of the operators of the account.
  • Complete UARB’s standard mandate.
  • A copy of the minor’s birth certificate or international passport, if they are a foreign national, is required.
  • A copy of the document designating the individual as the legal guardian is provided.
  • The parent or legal guardian’s personal identification document should match the primary identification document.
  • A parent or guardian makes the withdrawal.
  • The account automatically reverts to the child after they reach the age of 18. Therefore, it is necessary to regularize the account with the minor’s name.
  • A trust account does not permit the opening of a current account. It essentially functions as a savings account and can also serve as a time deposit.
  • Risk Profile

 

STUDENTS ACCOUNT

The following are the requirements:

  • Complete an account opening form.
  • Provide current passport photographs (two) of the operators of the account.
  • Ghana Card
  • Complete UARB’s standard mandate.
  • Confirmed school ID
  • If the student doesn’t have a school ID, an admission letter with their photo attached will do.
  • We will only open an account for a student under the age of 18 if necessary (e.g., school fees, student loans, etc.).
  • Risk Profile