Corporate Banking

Opening a Company Account

Registered Overseas

• Certificate of Compliance from parent organization certified as a true copy of the original by a notary public / lawyer
• Certificate of Incorporation
• Copy of Certificate of Registration
• Copy of By-Laws/Constitution
• Copy of the organization’s PIN Certificate
• Copies of the PIN Certificates for each signatory
• Certified Power of Attorney to operate accounts on their behalf from Parent Organization. Power of attorney if persons other than the directors will operate the account. i.e. Resident representative, country director in Kenya This power of attorney should also be certified by a notary public/lawyer, clearly specifying that the authorized person(s) can open, close and operate Bank accounts at Bank of Africa in Kenya
• List of current office Bearers on official letter head and have the list signed by Chairman and Secretary (or any 2 authorized signatories)
• Board Resolution / letter – on letter head, confirming opening of account with BOA, and signed by the chairman and secretary, mentioning who the signatories will be, their names, and the signing mandate.
• One colored passport size photographs of each signatory
• Certified copies of ID or Passport of each signatories
• Letter mentioning the banking agents details i.e. name, photo, ID number and duties allowed such as withdrawal of cash, collecting statements, collecting cheque books, delivering documents etc.
• Copy of latest Utility Bill (Water, Electricity)
• Certified copy of Tax Exemption Certificate (where applicable)
• Fill the BOA account opening forms and signature cards.
• Rubber stamp or Seal to be affixed on the board resolution, banking agent introduction letter and account opening forms.
• Minimum opening balance:
  • Kenya Shilling account – Kshs 1,000
  • US Dollar / Euro / GBP account – 100
  • Deposit – Kshs 50,000

Registered Locally

• Certified copy of Memorandum and Articles of Association
• Certified copy of Certificate of Incorporation
• Certified copy of PIN Certificate
• Details of other bank accounts to be noted in account opening form
• Board Resolution indicating confirming opening of account with BOA and signed by the chairman and secretary, and indicating who the signatories will be and their signing mandates.
• One latest colored passport size photograph of signatories
• Certified copies of ID or Passport of Signatories
• Introduction by Bank’s customer/Bank officer
• Letter mentioning the agents details i.e. name, photo, ID number and duties allowed such as withdrawal of cash, collecting statements, collecting cheque books, delivering documents etc.
• Company Seal to be affixed on the General Terms and conditions, board resolution, account opening letter, signature and mandate cards
• Minimum balance required to open account, Kshs 10,000
• Copy of latest Utility Bill (Water, Electricity)
• General terms and conditions dated and signed at the back of the Bank account opening form as per the mandate