Blank Dtb Account Opening Template

The DTB Account Opening Form serves as a vital document for individuals or entities looking to establish a banking relationship with Diamond Trust Bank. This form captures essential information including the type of account desired, the legal status of the applicant, and required documentation. Completing this form accurately is crucial for a smooth account opening process; take the next step by filling it out today.

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Article Guide

When considering an account with Diamond Trust Bank (DTB), the process begins with the Account Opening Form, a comprehensive document designed to collect essential information about the applicant. This form caters to a variety of entities, including companies, partnerships, clubs, sole proprietorships, non-governmental organizations (NGOs), and more. Applicants are required to specify the type of account they wish to open, whether it's a Current Account, Fixed Deposit, or Call Deposit, and to indicate their chosen currency. The form details the legal status of the applicant and invites descriptions of their business activities. Alongside providing personal and business information, including postal addresses, contact numbers, and bank details of existing accounts, the form prompts the inclusion of essential documentation, such as proof of identity and certification of incorporation. Furthermore, applicants must identify their authorized signatories, detailing their identities and contact information, which is a critical step for establishing who will manage the account. Notably, the form also discusses various account facilities, like checkbooks and statement delivery preferences, ensuring that all parties involved are clear on the terms of operation. Overall, this form plays a pivotal role in the account opening process, ensuring compliance and facilitating a smooth banking experience for new customers.

Form Sample

Account Opening Form

Companies/Partnerships/Clubs/Associations/Societies/Sole Proprietorship/NGOs

Branch

Account No.

Date //

Existing Base of Applicant

I/We request you to open the following account(s) with Diamond Trust Bank as per the following details. I / we have been advised about the available products and have selected this product as appropriate.

CUSTOMER SIGNATURE(S):

Account Type

(Please √ tick where applicable)

Current Account

Fixed Deposit

Call Deposit

Account Name

Currency	UGSHS	USD	GBP	EUR	Other (Specify)
(Please √ tick where applicable)	UGSHS	USD	GBP	EUR	Other (Specify)

Legal Status	Sole Proprietor	Limited Company		Partnership	Society/Association/Club/Trust
Legal Status

(Please √ tick where applicable)

NGO/International Charity

Government Entity

Other (Specify)

Type of Business

(Describe the principal activity of your business)

Company/Organisation Name

Date of Incorporation/Registration	/	/
Company Postal Address	Postal Code	Town

Telephone No.

Mobile No.

Fax No.

Email Address

Full Physical Address of the Business

(Plot/Building/Road/Street)

Company Website Address

Other Accounts currently held with DTB or other banks

	Bank Name	Branch	Type of Account		Account No.

1.

2.

	Details of Directors/Partners/Trustees/Association/Proprietors
	Name	Postal & Full Residential Addresss		Mobile No.		ID/Passport No.
	(First, Middle, Last)	(Estate/Plot/House No./Road/Street)

1.

2.

3.

4.

Account Facilities (Tick √ where applicable)

Check Book	Third Party Operation (Please sign separate Authorised Agent Mandate Form)
For my/our current account I authorize Diamond Trust Bank to issue me/us			cheque book(s) and debit my/our

account with the relevant charges (Where applicable)
25 Leaf Cheque Book	50 leaf Cheque Book	100 Leaf Cheque Book

Cheque Book to be collected form

Correspondence sent to:

Postal Address

Hold Mail (for collection)

Statements

Frequency:

Monthly

Quarterly

Half Yearly

Other

By:

Postal Address

Hold Mail (for collection)

Introducer
Name
(First, Middle, Last)
Full Physical Addres
(Plot/Building/Road/Street)
DTB Bank A/C No.
Telephone	Ofﬁce	Mobile

Certiﬁcate By Introducer

I would like to introduce the above account applicant to open and maintain an account with you. I have known him/her

for years and the physical location and address indicated herein is correct. I also conﬁrm that I consider the new account holder suitable to operate an account with you.

Date		Signature		Signature veriﬁed by

SIGNATURE & MANDATE FORM

Account Mandate: Signing Instructions (Please tick √ where applicable)

Signly

Jointly

Either or Survivor

Other (specify below)

Other Signing instructions:

I/we have read and understood the conditions necessary to open and run an Account with DTB and I/we oblige to comply. I/we agree that this account shall be opened solely as the discretion of DTB Uganda and hereby agree to indemnity DTB Uganda at my/our cost against claims arising out of the account being closed by DTB Uganda upon issuance of 30 days notice due to unsatisfactory performance.

Furthermore I/we accept that the operations of the account will be subject to the General Terms and Conditions as published from time to time signed by me/us and conﬁrm that all given information on this form is true and correct.

1st Signatory

2nd Signatory

Name:

Designation/Title:

ID/Passport No:

Telephone:

Signature

Date:

1 coloured passport photograph here			1 coloured passport photograph here

3rd Signatory

4th Signatory

Name:

Designation/Title:

ID/Passport No:

Telephone:

Signature

Date:

1 coloured passport photograph here

DOCUMENTS REQUIRED (Please provide copies of these documents certiﬁed by Registrar of Companies or Branch Ofﬁcial)

	Introduction/Reference	One Passport photograph of all authorised
		One Passport photograph of all authorised
		signatories

	ID/Passport copy of all authorized signatories	Memorandum & Articles of Association of
	ID/Passport copy of all authorized signatories	Company/by-laws or constitution of organization
		Company/by-laws or constitution of organization

Letter from Auditor/Co. Secretary certifying names of existing			Copy of Certiﬁcate of Incorporation/Business
directors or certiﬁed copy of the latest returns			Registration

Copy of PIN card of Company or Organisation			Board Resolution/Extracts of committee meeting
			signed by Chairman and Secretary

Conﬁrmation	of Address of each Signatory & Directors/		Conﬁrmation of address of the Business
Partners / Trustees / Proprietors (Utility		bill in name	(Utility bill/Trading Licence/Tenancy Agreement)
of individual	or Comopany letter stating	the residential

addresses and telephone numbers of the individuals)

Latest Annual Return on Particulars or Directors and

Secretary

FOR BANK USE ONLY

Customer Information Checklist

Initials

Valid Identiﬁcation Documents obtained and

Signatures scanned

authenticated

Photographs obtained

Interviewed/Conﬁrmed by

Reference veriﬁed & Black listed list checked

Veriﬁed

Mandated signatures obtained

Manager’s Approval

Customer contact information available

Exeptions (Given reasons)

Cheque Book Ordered

Exeptions approved by

Risk proﬁle allocated

Grade

Approved by

Account introduced by

Authorised by

Account No.

Date

Account Opened by

Name

Signature

Approved by

Name

Signature

Initial deposit received:

Cash

Cheque

Transfer Amount

Additional Comments

LIMITED COMPANY ACCOUNT

Company Account Mandate:

We wish to inform you that at a meeting of the Directors of

Limited

(Insert company name)

held at

on the

day of

It was resolved: “That a banking account(s) for

Limited

(Insert company name)

be opened at the

Branch of DIAMOND TRUST BANK UGANDA LIMITED and that the said bank be

and hereby authorised and requested to pay all Cheques, Bills of Exchange, Promissory Notes and other negotiable instruments purporting to be signed, made or accepted on behalf of the Company and to debit the same to the account(s) to be kept with them by the said company, whether such account(s) be in credit or otherwise, to hold the Company liable on all endorsements of Cheques, Bills of Exchange, Promissory Notes, and other negotiable instruments, and to bind the Company to all arrange- ments or indemnities in connection with the issue of Letters or Credit, Drafts, Telegraphic Transfers and the usual Banking transactions, provided that the said Cheques, Bills, Promissory Notes or other aforesaid documents are signed by

Note: Fill in here the Ofﬁcial designation of the party or parties signing, and not their names, (Insert any two of the Directors, and countersigned by the Secretary for the time being or otherwise as required).

for the time being of the said Company, that the list of the names and specimen signatures of the present authorised to sign under this resolution be furnished to the said Bank at the said Branch and that they be advised in writing all changes that may take place in the same from time to time, that a copy of this resolution be furnished to the said Bank at the said Bank at the said branch; and that it remain in force until the receipt by the said Bank at the said Branch of a copy of a rescinding the same”.

We hand you herewith:

a)An up-to date copy of the Company’s Memorandum and Articles of Association

b)The Company’s certiﬁcate of Incorporation

c)The Company’s Certiﬁcate to Commence Business (Public company only)

d)The full list of the present Directors and Secretary with their respective signature

Dated at

this

day of

Chairman

Secretary

Name of Directors

Address

Signature

CERTIFICATE THAT MEMORANDUM AND ARTICLES OF ASSOCIATION ARE AMENDED ANDUP TO DATE We hereby certify that the Memorandum and Articles of Association of

M/S

given by is to DIAMOND TRUST BANK UGANDA LIMITED have been amended up to date. We further undertake that any future amendments to the Memorandum and Articles of Association will be advised to DIAMOND TRUST BANK UGANDA LIMITED within fourteen days of such amendments.

We indemnify DIAMOND TRUST BANK UGANDA LIMITED against any loss, expenses and damages it may sustain through our failure to notify or delay in notifying DIAMOND TRUST BANK UGANDA LIMITED of any alterations or amendment to the Memorandum and Articles of Association

Chairman		Secretary
Date:		Date:

PARTNERSHIP ACCOUNT

We, the undersigned

Being individual partners trading under the style or ﬁrm or

(hereinafter called “the ﬁrm”) appoint you our bankers and hereby authorize and request to open an account in the ﬁrm’s name to be called the

Account and

1.To honour and comply with all cheques, drafts, bills of exchange, promissory notes, acceptances, negotiable instruments and orders expressed to be drawn accepted made or given by anyone of us in the name of the ﬁrm at any time or times whether our banking account is overdrawn or any overdraft is increased by any payment thereof or in relation thereto or is in credit or otherwise be without prejudice to your right to refuse to allow any overdraft or increase of overdraft and for any balance on the said account which may become due to you at any time we agree to be jointly severally liable.

2.To honour and comply with all instructions to deliver or dispose of any securities or documents held by you on our behalf; to hold us liable on all agreements and indemnities in connection with the issue of letters of credit, drafts, telegraphic transfers and with all banking instructions, provided any such cheques, drafts, bills of exchange, promissory notes, acceptances, negotiable instruments, orders, instructions, agreements and indemnities are signed by anyone of us in the name of the ﬁrm.

3.To treat all cheques, drafts, bills of exchange promissory notes, acceptances, negotiable instruments and orders as being endorsed on our behalf and to discount or otherwise deal with them provided such endorsement purport to be signed by anyone of us in the name of the ﬁrm.

All instructions in connection to this account and in particular, but without limiting the generality of the foregoing, all instructions relating to instruments and securities and the charging pledging disposal and withdrawal thereof are in order if given by anyone of, us in the name of the ﬁrm.

Notwithstanding any alteration in the constitution of the ﬁrm this authority shall remain in force and in the event of such alterations or of others besides the partners being authorized to sign, due notice in writing will be given to you and such notice will be binding on the partnership if given in the ﬁrm’s name by anyone of the signatories hereto.

This authority shall continue in force until anyone of us shall have expressly revoked it by notice in writing delivered to you at the above mentioned branch and it shall not be revoked by the death of any of us.


We produce herewith a certiﬁed extract dated		from the Registrar of Business names and conﬁrm that
We produce herewith a certiﬁed extract dated		from the Registrar of Business names and conﬁrm that
no changes in the particulars registered with him have taken place since the date of issue of the extract.
We declare ourselves jointly and severally liable on all foregoing transactions.
(To be signed by all the partners in their personal capacity)
Dated this	day of		20
Dated this	day of		20

Please give the names and address (es) of your present bankers, or two persons from whom we may obtain a reference

Name

Account Number

Signature

CLUB SOCIETY OR ASSOCIATION ACCOUNT

At the meeting of the

(Insert ‘Committee of Management’ or as the case may be)

of the

(Insert name of Club, Society or Association)

Held on the

day of

It was resolved

1.That the Diamond Trust Bank Uganda Limited Branch be authorised to honour all cheques or other orders for payment drawn upon any account or accounts for the time being kept with the Bank in the name of the Club, Society or Association notwithstanding that any such payment may cause such account or accounts be overdrawn or increase any existing run- ning ﬁnance provided they are signed by:

(Insert ‘Chairman and Secretary for the time being or as the case may be)

2.That the Bank be authorised to accept all requests and receipts for the delivery of securities, papers or other property if signed by:

(Insert ‘Chairman and Secretary for the time being or as the case may be)

3.That the Bank be given a list of the names ofthe signing Ofﬁcers and be advised in writing under the hand of the Secretary of any changes that may take place and the Bank be entitled to act upon the signature so given.

4.That these Resolutions be communicated to the Bank and remain in force until revoked by notice in writing to the Bank signed by the Chairman or the Secretary acting or purporting to act on behalf of the Club, Society or Association and the Bank shall be entitled to act upon such notice.

SPECIMEN SIGNATURES

Name in full (in BLOCK CAPITALS)

Description

e.g. Secretary, Treasurer, Chairman

Signature

Chairman

Secretary

Dated:

FOREIGN CURRENCY ACCOUNT AGREEMENT

Date:

The undersigned hereby requests you to establish / open on / in your bank an account in (currency)

(hereinafter called the “Account”) and to credit thereto the amounts of such currency as may from time to time be received by you for Account. In order to establish / open the Account, and at your option, to main- tain it on / in your bank. It is hereby agreed that

1.Withdrawals from the Account shall be made only by your drafts, telegraphic transfers or cash in the currency of the Account at the request of the undersigned in writing or by authenticated cable. Such request may be in the form of a cheque drawn upon you. Any stamp, transmission, or other charges related to withdrawals from the account will be paid by the under- signed upon demand.

2.You shall have no responsible for a liability to the undersigned for any diminution due to taxes or imposts or depreciation in the value of funds credited to the Account (which funds may be deposited by you in your name and subject to your control with such depository(ies) as you may select) or for the unavailability of such funds due to restrictions on convertibility, req- uisitions, involuntary transfers, distraints of any character, exercise of military or usurped powers, or other similar causes beyond your control.

3.You may at any time in your discretion discharge your entire liability with respect to the Account by mailing to the under- signed, at the address set forth below, your draft in the currency of the Account without recourse to you as drawer, payable to the order of the undersigned in the amount of the then credit balance in the account, together with such other docu- ments, if any, as may be necessary, in your sole discretion, to transfer to the undersigned such claim as you may have no such funds

Signature:

Name of the company:

Address:

SOLE PROPRIETORSHIP ACCOUNT

I, the undersigned

Being the Sole Proprietor trading under the style or ﬁrm orhereinafter called “the ﬁrm”) appoint you our bankers and hereby authorise and request you to peon an account in the ﬁrm’s name to be called the

Account and

1.To honour and comply with all cheques, drafts, bills or exchange, promissory notes, acceptances, negotiable instruments and orders expressed to be drawn accepted made or given by me in the name of the ﬁrm at any time or times whether my bank account is overdrawn or any overdraft is increased by any payment thereof or in relation thereto or is in credit or otherwise be without prejudice to your right to refuse to allow any overdraft or increase or overdraft and for any balance on the said account which may become due to you at any time I agree to be liable.

2.To honour and comply with all instructions to deliver or dispose of any securities or documents held by you on my behalf, to hold me liable on all agreements and indemnities in connection with the issue of letters of credit, drafts, telegraphic transfers and with all banking instructions.

Provided any such cheques, drafts, bills or exchange, promissory notes, acceptances, negotiable instruments, orders, instructions, agreements and indemnities are signed by me in the name of the ﬁrm.

3.To treat all cheques, drafts, bills of exchange promissory notes, acceptances, negotiable instruments and orders as being endorsed on my behalf and to discount or otherwise deal with them provided such endorsement purport to be signed by me in the name of the ﬁrm.

Notwithstanding any alteration in the constitution of the ﬁrm this authority shall remain in force and in the event of such alterations or of others being authorised to sign, due notice in writing will be given to you and such notice will be binding on the ﬁrm if given in the ﬁrm’s name by anyone of the signatories hereto.

This authority shall continue in force until I expressly revoked it by notice in writing delivered to you at the above mentioned branch and it shall not be revoked by my death.

We produce herewith a certiﬁed extractdated from the Registrar of Business names and conﬁrm that no changes in the particulars registered with him have taken place since the date of issue of the extract.

I declare my sole liability on all foregoing transactions of the ﬁrm.

(To be signed by the Sole Proprietor)

Dated this

day of

DTB GENERAL TERMS & CONDITIONS

The relationship between the Bank and the Customer is governed by the Law of Uganda and Bank of Uganda guidelines, except where the following general terms and conditions apply to any further agreement in writing. Speciﬁc terms apply to speciﬁc accounts and products and are available to the Customer upon request.

1.Deﬁnitions

(a)	“Account”	means any one or more accounts to be opened in
	accordance with the instructions on the Account Opening
	Form and	any other Account opening by the Customer at
	any time.

(b)“Agent” means any person(s) authorized by the Customer or by the Authorized Signatory to receive and collect cash on any Withdrawal Instrument (hereinafter deﬁned) acceptable to the Bank from time to time and authorized to collect and/or deliver any other documents or notices relating to the Account.

(c)“Authorized Signatory” means the Customer or in relation to the Customer any person(s) authorized, as notiﬁed by the Customer in writing to the Bank, to operate the Account in accordance with the Mandate. Reference to Authorized Signatory shall include any duly appointed Attorney of the Customer.

(d)“Available Balance” means the amount (excluding any uncon- ﬁrmed credit and amount under hold/lien) in the Account, which can be withdrawn by the Customer.

(e)“Bank” means Diamond Trust Bank Uganda Limited, incorporated in Uganda as a limited liability company under the Companies Act (Cap. 110 of the Laws of Uganda) and includes such Branch or Subsidiaries of the Bank as may from time to time be speciﬁed by the Bank to the Customer. Reference to the “Bank” shall include without limitation reference to the Bank’s successors in title and assigns, and shall also include any director, ofﬁcer, manager or any other person duly authorized to represent the Bank.

(f)“Banking Day” means a day on which the counters of the Branch and/or Bank Subsidiary (as applicable) are open for the transac- tion of ordinary business.

(g)“The Card” means any Diamond Trust Bank Uganda Limited card issued at the request of the Customer by the Bank or any other person on behalf of the Bank to the Customer or any other person at the Customer’s request for use in the manner referred to herein under Section 6.2 and in respect of any of th e Bank’s products and services from time to time.

(h)“Cardholder” means a person to whom the Bank’s card has been issued who shall be bound by these terms and conditions as var- ied from time to time by the Bank and includes a supplementary cardholder.

(i)“Cheque” means a negotiable instrument issued by the Bank to the Customer in a pre-printed form containing the Bank’s secu- rity features and indicating, inter alia, the Customer’s name, the Account details and the Bank’s code.

(j)“Customer’s means the person(s) whose name(s) is speciﬁed as such in the Application Form and whose details are as recorded with the Bank with respect to the Bank Account. Reference to the expression “Customer” shall where the context so permits include any permitted personal representatives, successors in title, heirs and permitted assigns and in the case of a company, its holding company (if any) and their respective subsidiaries from time to time.

(k)“Electronic Banking Facility” means al l electronically enabled services capable of operation by the Bank and as may be notiﬁed to the Customer by the Bank from time to time.

(l)“Facility” means the aggregate of the ﬁnancial accommodations funded or non-funded, banking or credit or advance approved by the Bank whether in writing or otherwise together with interest, Default Interest, Costs or so much thereof as may from time to time be granted to and/or be owing by the Customer to the Bank. Where a Customer has been granted more than one Facility shall include reference to all such facilities.

(m)“Interest” means the amount payable on the Account at the rate speciﬁed by the Bank from time to time whereas “Default interest” means any additional interest payable on the Account at a rate e qually speciﬁed and which amounts are payable in accordance with these Terms and Conditions.

(n)“Letter of Offer” means any letter issued by the Bank to the Customer pursuant to which the Bank agrees to make available to the Customer facilities on the terms and subject to the conditions set out in the said letter as the same may be varied amended or substituted from time to time.

(o)“Mandate” means authority given by the Customer to the Authorized Signatory to operate the Account as provided for in the Application Form.

(p)“PIN Code” means the secret Personal Identiﬁcation Number known only to the Customer or the Customer or the Customer’s Nominated (User(s) for access to the System via an ATM or any other point of sale (POS) terminal to give a transaction instruc- tion.

(q)“Principal Cardholder” means the person in whose name the bank account is maintained.

(r)“Property” means cash, all negotiable and non-negotiable instruments or contracts representing money or other property (real or personal), precious metals in whatsoever form and articles made there from, gems, precious and semiprecious stones, certiﬁ- cates of stock, bonds, and all other types of securities, bills of ex- change, title deeds, certiﬁcates of title and other valuable papers used by the Customer in the conduct of business as held by the Bank.

(s)“Security” means any movable or immovable property or asset of the Customer and/or of any other person, held under lien, charged, pledged, deposited or in any other way offered to the Bank to secure an Account, Facility or any other liability of the Customer.

(t)Speciﬁc Terms and Conditions: means the terms and conditions that may be published by the Bank from time to tome in relation to a speciﬁc product and/or service (or otherwise) provided by the Bank.

(u)“Statement” means the electronic or written record prepared by the Bank from time to time reﬂecting the amount, number and nature of transactions being made in and out of the Account in various currencies.

(v)“System” means the Computer hardware/ software for communications software or equipment enabling the Customer to communicate with the Bank for the purposes of the Electronic Banking Service. Where access through the Internet is necessary, the System and Service will for the purpose of this agreement be accessed through the Ban’s website.

⇩ PDF

Document Specifications

Fact Name	Description
Account Types	The form allows applicants to select from various account types, including Current Account, Fixed Deposit, and Call Deposit.
Legal Status Options	Applicants can identify their legal status as a Sole Proprietor, Limited Company, Partnership, NGO, or Government Entity, among others.
Documentation Requirements	Certain documents must be provided when submitting the form, including ID copies, proof of address, and incorporation certificates.
Signatory Information	Directors, partners, or proprietors need to provide their names, addresses, and contact details on the form.
Initial Deposit	Applicants are required to indicate the initial deposit amount, which can be made via cash, cheque, or bank transfer.
Governing Law	This form is governed by the banking laws and regulations of Uganda.
Account Mandate Instructions	Signatories can specify the signing instructions for the account, such as joint or individual signatory authority.

Steps to Filling Out Dtb Account Opening

Before proceeding with the application, ensure that you have all the required documents ready for submission. This includes identification for all signatories, proof of address, and any additional documentation specified. It is essential to fill out the form accurately to avoid any delays in the processing of your account opening.

Begin by filling in the Account Type section. Mark your account choice by ticking the appropriate box.
Provide the Account Name and select the Currency you'd like to use.
Indicate the Legal Status of your organization by choosing the correct option.
In the Type of Business section, describe the main activities of your business.
Enter your Company/Organization Name and the Date of Incorporation/Registration.
Fill in your Postal Address, including the corresponding Postal Code, town, and contact numbers.
Specify your Full Physical Address for the business and the company website, if applicable.
If you have accounts with DTB or other banks, provide the Bank Name, Branch, Type of Account, and Account Number in the required fields.
List the details of Directors/Partners/Trustees/Association/Proprietors, including their names, addresses, mobile numbers, and identification numbers.
Select the Account Facilities you wish to request, such as a cheque book, and specify the frequency of account statements.
Provide details of the Introducer, including their contact information and certification statement.
Complete the Account Mandate section, indicating signing instructions and agreement with the terms outlined in the form.
Sign and date the form appropriately. Ensure that all authorized signatories provide their respective signature, name, ID/Passport numbers, and contact information as required.
Attach the required documentation, such as certified copies of identification, photographs, and any additional documents listed on the form.

After submitting the completed form along with all necessary documents, the bank will process your application. They may contact you for further information or verification. Following approval, you will receive confirmation regarding your new account details.

More About Dtb Account Opening

What is the purpose of the Dtb Account Opening form?

The Dtb Account Opening form is designed for various entities, including companies, partnerships, and NGOs, to apply for a new bank account with Diamond Trust Bank. It requires detailed information about the applicant and the intended account type. Completing this form is essential for initiating the banking relationship and accessing available financial products.

What information do I need to provide in the form?

You will need to provide personal and business details such as the legal status of your entity, business type and activities, contact information, and details of authorized signatories. Additionally, specific account preferences, including account type and facilities, must be indicated. It is important to ensure all information submitted is accurate and complete.

Are there any documents required along with the form?

Yes, you must attach several required documents, including a certified copy of your ID or passport, a passport photograph of each signatory, and your organization's Memorandum and Articles of Association. Other documents could include a letter of introduction, proof of address for each signatory, and a copy of the Certificate of Incorporation or Business Registration. Ensure all documents are certified as needed.

How should I submit the completed form?

You may submit the completed Dtb Account Opening form along with all the required documents directly to your local Diamond Trust Bank branch. It is advisable to check if an appointment is needed or if there are any specific submission guidelines. Ensure to retain copies of everything you submit for your own records.

What happens after I submit the form?

After submitting the form, Diamond Trust Bank will review all provided information and documents. The bank may contact you for verification or additional information if necessary. Once your application is approved, an account number will be assigned, and you will receive instructions on how to operate your new account.

What should I do if I make a mistake on the form?

If you realize you made a mistake on the Dtb Account Opening form, it is best to correct it immediately. You can cross out the incorrect information, make the correction clearly, and initial the change. However, if the error is significant, consider filling out a new form to avoid confusion. Always ensure that the final version of the form is accurate before submission.

Common mistakes

Incomplete Information: Many applicants fail to provide complete information in all required fields. Missing details such as postal addresses, contact numbers, or business descriptions can lead to delays or rejection of the application.
Insufficient Documentation: Often, individuals do not include necessary supporting documents. Not providing certified copies of identification, business registration, or recent utility bills can hinder the account opening process.
Incorrect Legal Status Selection: Applicants sometimes select the wrong legal status tick box. Choosing the incorrect classification, such as LLP instead of a sole proprietorship, can create significant complications and may delay processing.
Signature Issues: It is common for applicants to mistakenly omit signatures or use inconsistent signatures across documents. All signatories must provide their signatures as required; failure to do so may result in the application being invalidated.
Failure to Read Terms: Many individuals do not fully read the terms and conditions associated with the account. Not understanding the requirements for account operation can lead to unintentional violations of bank policies.

Documents used along the form

The process of opening an account with Diamond Trust Bank (DTB) involves submitting several supporting documents alongside the DTB Account Opening form. Each document serves a specific purpose related to verifying the identity and legality of the applicant's business or partnership.

Passport Photograph: A recent passport-sized photograph of each authorized signatory is required. This helps establish the identity of individuals involved in the account.
ID/Passport Copy: Copies of identification documents for all authorized signatories must be submitted. This can include national ID cards or passports to validate the identity of individuals opening the account.
Memorandum & Articles of Association: A document outlining the company's structure and governance. It defines the purpose of the business and the rules for its operation.
Letter from Auditor/Company Secretary: This letter certifies the names of the existing directors and their roles within the organization, ensuring that the correct individuals are authorized to make banking decisions.
Certificate of Incorporation: A legal document that proves the existence of the business as a registered entity. It is essential for confirming the legitimacy of the company.
Board Resolution: An official record of a meeting where decisions regarding the banking account are made. It is signed by the relevant officers of the company and confirms who is authorized to operate the account.
Confirmation of Address: Documentation showing proof of address for all signatories and the business. This can include utility bills or lease agreements to ensure accurate contact information is on file.
Latest Annual Return: A report that provides details about the company's performance, directors, and secretary. It helps maintain up-to-date information on the organization's status.

These supporting documents help ensure that Diamond Trust Bank can verify all information provided in the account opening application, contributing to the overall trust and security of the banking process.

Similar forms

The Dtb Account Opening form is quite similar to a Business Registration Form. Both documents gather essential information regarding the business, including its legal status and type. The Business Registration Form typically requires details like the business name, structure, and address, much like the account opening form. Additionally, both forms may request background information about the owners or partners involved in the business.

Another document that is comparable is the Partnership Agreement. This agreement outlines the roles and responsibilities of each partner within the business. Similar to the Dtb Account Opening form, it requires identification details for the partners, such as their names and addresses. Both documents serve as a foundational basis for legal and financial recognition of the partnership and involve signatures from all partners confirming their agreement.

The Non-Profit Organization Registration Form also shares similarities with the Dtb Account Opening form. Both require information regarding the structure and governing documents of the organization. For instance, a Non-Profit Organization Registration Form necessitates a mission statement and details of the board members, akin to the Dtb form's request for information about directors and trustees.

The Corporate Bylaws document can be linked to the Dtb Account Opening form due to its focus on the internal rules that govern a corporation. Both documents include critical governance details and the signatures of authorized representatives. The bylaws lay down operational guidelines, similar to how the Dtb form ensures adherence to the bank's terms and conditions.

The Memorandum and Articles of Association are also closely related to this account opening form. Like the Dtb form, these documents require company details and must be submitted for any formal banking relationships. The memorandum outlines the company's objectives, while the articles detail governance, similar to how the Dtb form captures essential operational information.

The Certificate of Incorporation parallels the Dtb Account Opening form in that it officially recognizes a company's existence. Both documents validate the business's legitimacy and require information such as the business name and registration details. The incorporation certificate confirms the legal status, just as the Dtb form verifies the applicant's identity and account intent.

The Tax Identification Number (TIN) application has similarities as well. Both necessitate basic business information and the personal details of signatories. The TIN application ensures that the business is registered for tax purposes, while the Dtb Account Opening form ensures compliance with banking regulations, showcasing the connection between tax and financial identity.

The Director's Resolution also aligns closely with the Dtb Account Opening form. A director's resolution is a formal document that records decisions made by a company's board, such as opening a bank account. Both forms require signatures from authorized individuals and confirm the legitimacy of actions taken on behalf of the organization.

Lastly, an Employment Application can be seen as similar in structure. Both documents ask for substantial personal details and often require the applicant to affirm the truthfulness of the provided information. While an employment application focuses on individual qualifications, the Dtb form centers on business details and operational guidelines, yet both serve vital roles in establishing credibility and trust when initiating formal relationships.

Dos and Don'ts

When filling out the Dtb Account Opening form, certain practices can lead to smoother processing and improved accuracy. Below are six key dos and don'ts to consider.

Do: Provide complete and accurate information in every section of the form.
Do: Read and understand the account types and legal statuses to select the correct options.
Do: Ensure all required documents are certified and included with your submission.
Do: Review the signing instructions to confirm the correct authorization method.
Don't: Rush through the form; taking your time minimizes errors.
Don't: Forget to verify contact information, such as phone numbers and addresses, for accuracy.

Adhering to these pointers will help ensure your application is processed smoothly and efficiently.

Misconceptions

Understanding the Dtb Account Opening form is essential for any applicant. Unfortunately, there are several misconceptions that can lead to confusion. Here are five common misunderstandings:

Misconception 1: All account types require the same information.

This is incorrect. Different account types, such as current accounts and fixed deposits, have unique requirements. Applicants should ensure they are filling out the correct sections for their chosen account type.

Misconception 2: Only business entities can open an account.

In reality, individuals can also open accounts, especially if they are sole proprietors or freelancers. The form accommodates various legal statuses, making it easier for different applicants to participate.

Misconception 3: The introducer must have a long-standing relationship with the bank.

The introducer should simply be a current account holder at the bank. They need to confirm the details of the new applicant but do not require years of connection to the bank.

Misconception 4: An application is guaranteed to be approved if all sections are filled out.

Completing the form accurately does not guarantee approval. The bank has the discretion to assess each application based on various internal criteria, including risk assessment.

Misconception 5: Once the form is submitted, the process is complete.

This is not the case. Additional documentation is often required, such as identification and proof of address. Applicants should prepare to provide these documents promptly to avoid delays.

Key takeaways

Here are some important takeaways to consider when filling out and using the DTB Account Opening form:

Understand the Account Types: Choose the appropriate type of account, such as a Current Account or Fixed Deposit, based on your needs.
Provide Accurate Information: Ensure all the details entered, such as your organization name, address, and contact information, are correct and up to date.
Legal Status Matters: Indicate the correct legal status of your entity (e.g., Sole Proprietorship, Limited Company, NGO) as it affects your account operations.
Directors/Partners Details: Include all necessary information for directors or partners, as this is crucial for verification and account setup.
Signatures Required: Ensure that all required signatories provide their signatures on the form to avoid delays in the account opening process.
Documentation is Key: Attach certified copies of necessary documents such as IDs, Articles of Association, and proof of address to complete the application.
Consultation is Recommended: If unsure about any part of the form, reach out to the bank's customer service for guidance before submission.

Completing the DTB Account Opening form accurately will streamline the account opening process and help avoid unnecessary complications.