What are the requirements in Opening Deposit Account?
The following are the requirements:
Individual
At least one(1) photo-bearing valid IDs
Two (2)copies of most recent 1 x 1 or 2X2 ID Picture
Additional requirements for Foreign Nationals (Except US Citizens)
(a) Alien Certificate of Registration
(b) Immigrant Card / Certificate of Registration
(c ) Passport Issued by the country of origin
Single Proprietor
(1) Certificate of Registration issued by Department of Trade
(2) Original Application for Registration/Current Business Permit from local government unit
(3) Valid identification card (at least one) of signatory/ies
(4) Recent 1×1 or 2×2 picture of signatory/ies
Partnership
(1) Articles of Partnership and By-Laws
(2) Certificate of Registration with the Securities and Exchange Commission
(3) Partnership resolution Agreement on the extent of authority of each partner
(4) One (1) valid identification card of signatories and current 1×1 and 2×2 picture.
Corporation
(1) Article of Incorporation and Bylaws
(2) Certification of Registration with Securities and Exchange Commission
(3) Latest General Information Sheet
(4) Secretary’s Certification of board approved resolutions authorizing the following:
- to open an account with Sun Savings Bank
- list of authorized officers to sign and the nature and extent of such authority
- list of Board of Directors
(5) One(1) valid identification card of each authorized signatories and corporate secretaries
(6) current 1×1 or 2×2 picture of authorized signatories
Treasurer-in-trust
(1) Valid Identification of the Treasurer-in-Trust
(2) Company Documents – Proposed Articles of Incorporation and By-Laws
(3) Notarized Treasurer’s Affidavit (SEC Format) to be submitted after account opening. To ensure that this will be submitted after account opening, SUN SAVINGS BANK will not issue the bank certificate that is required by the SEC until it receives the said Treasurer’s Affidavit.
(4) Proof of Principal Place of Business, in the event that this information cannot be verified in the prescribed documentary requirements i.e. Articles of Incorporation, Business Registration
(5) Upon registration of the company, the client shall comply with the checklist of documents for Corporate accounts and ensure to submit the document below:
Letter signed by the Treasurer-in-Trust requesting for the closure of the TITF account and the transfer of the proceeds to the account of the new company
Important Note:
Treasurer-In-Trust-For accounts are temporary and non-transactional.
These will be closed upon conversion to a regular commercial account or submission of proof of the non-registration of the company. The proof on non-registration would be:
- A notarized declaration/certification from all the incorporators stating that, due to the non-incorporation of the company, the appointed Treasurer is authorized to withdraw the proceeds of the account or stating the instructions for the disposition of the funds; and
- A certification from the SEC stating that the application for incorporation of the company was withdrawn or did not push through
Clubs, Associations, Society or Organization
(Includes churches, non-profit schools, civic organizations, trade associations, labor organizations, recreational clubs and other similar types or organizations)
(1) Constitution /Association Agreement
(2) Resolution including Authority of representatives
(3) Non-profit status
(4) Personal ID for all authorized officers
Cooperatives
(1) Certificate of Registration with the Cooperative Development Authority
(2) Articles of Cooperation and By-Laws
(3) Duly notarized Board resolution incorporating the following:
- Authority to open a bank account with SUN SAVINGS BANK
b. Designated Officers authorized to sign and the nature and extent of such authority
