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Source of funds and source of wealth

The banks are required to understand the source of any funds that will be placed within the business account, and in some instances will also have to investigate the overall source of wealth in the business (which can include the wealth of any owners/others making significant investment in to the business) even if that money will not be utilised within the bank account being opened. The Banks may require additional documentation that verifies any information on source of funds and/or wealth provided by the entity (e.g. title deeds or legal agreements).

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