Why is it so important to get a PRE-APPROVAL?
In a business that is closely connected with international money transfers, it is impossible to work without a foreign bank account. Unfortunately, it is not an easy task to open it in another country to residents of the CIS countries who do business in Russia, Kazakhstan, Ukraine. Therefore, failures are not uncommon, when after a long wait it turns out that the documents need to be sent to another financial institution, and then a new wait. Considering that the validity period of the collected papers is limited, it is often necessary to renew the certificates, which draws extra time and money, as well as loss of profits, since it is possible to miss more than one lucrative deal.
And here the service PRE-APPROVAL comes to the rescue, when the task of arranging bank accounts is transferred to an intermediary, who after coordinating all the necessary documents with the client, monitors the correctness of their registration, and then transfers them to several financial institutions at once. This increases the chances of a client to open an account, saves time and eliminates additional costs.
When one need a service
The PRE-APPROVAL service is relevant for all types of activities that, according to financial institutions, are associated with increased risk. Because of this, banks are not interested in working with such clients, and therefore they need to take extra care to obtain bank approval.
The following activities are considered risky:
PRE-APPROVAL актуален для руководителей предприятий, которые дорожат своим временем и средствами.
• Gambling business (casino, bookmaking).
• IT-business and other activities that are engaged in the latest technologies.
• Trading activity, operations related to electronic currencies.
• Business "for adults".
• Investment in construction.
PRE-APPROVAL is relevant for business executives who value their time and money.
What is the peculiarity of PRE-APPROVAL
When registering a bank account, it is necessary to understand that even if a financial institution pre-approves the opening of a non-resident account, this does not mean that it will be issued. All this is calculated by consultants PRE-APPROVAL, and help to properly arrange the paper.
Before opening an account, the bank must make sure that the company meets its criteria. PRE-APPROVAL consultants work directly with the person who deals with this issue, as much as possible influencing him to decide in favor of the customer.
The next stage after receiving approval is a check by the bank security service. Here it is necessary to fill a large number of papers, and how much it will be right, the decision of the bank regarding opening an account largely depends. Detection of errors or lack of answers to some questions are a reason for the financial institution to refuse the service.
To prevent this from happening, PRE-APROVAL consultants study in detail the features of the customer’s company and check how correctly all the documents are drawn up. Then comes the search for suitable banks that work with non-residents whose requirements the company meets. After that, the documents are submitted to the financial institution and its decision is expected.
Why the bank may refuse
Although with the help of PRE-APROVAL the chances of opening a bank account are high, it is likely that all banks will fail. In this case, the money for the service will not be returned. The main reason for the refusal is the client’s failure to comply with the recommendations of the consultant, namely, incorrect filling of the papers.
Sometimes clients, not wanting to answer questions, skip whole pages, ignoring the form filled in by the specialist before. Partially executed documents tell the bank that the client will not be able to work properly with the financial institution.
Once again: who needs PRE-APROVAL
Summing up the above, it is worth noting that PRE-APROVAL is necessary for non-residents who:
• Save your money and time.
• Do business risky from the point of view of the bank.
• They do not want to issue the same papers several times in case of refusal from the bank.
• They want to make sure that they don’t look like an amateur and amateur in the eyes of bank employees.
PRE-APROVAL allows non-residents to achieve opening an account in a financial institution in the shortest possible terms, subject to compliance with all the points specified by the consultant.