Know Your Customer (KYC) Checklist – Institutions & Non-Individuals
(The information on Section (A) and (B) must be obtained and retained for Institution
& Non-Individuals notably limited liability company, partnership, sole-
proprietorships, clubs & societies, non governmental organisations (NGO), ministries,
departments & agencies (MDAs), trusts and others (specify) including their
authorized signatories*, principal beneficial owners, directors and persons* with
control over the company’s assets. (Note: Control is determined as owners entitled
to exercise or control the exercise of 30% or more of voting rights)
Section A – Basic Information Requirements Applicable to the Account
Full Legal Name of Customer :
Branch Name :
A/c Type (Tick appropriate box) Limited Company Partnership Sole- Others, specify:
[] [] proprietorship []
Account Type: :
A/c No.
Nature of Business :
Company registered address :
Company trading address :
Section B – Mandatory Checks Applicable to the Account (Complete this section only once
for the account)
Tick the appropriate box
1. Status Verification Name and or identity search conducted using prescribed “special Yes No
Reference Listing” eg. sanction lists, PEP list, blacklist etc? [] []
2. Name and Address Name and registered address verified and supported by one of the following accepted
Verification for documents
corporate body [] Certificate of Incorporation [] Partnership deed
[] Trust deed [] Certificate from the registrar of
societies / business
Trading address, if not the same as above official documents, is Yes No
verified separately and evidence of verification documented on file? [] []
3. Purpose of Account Specify purpose for opening the account:
[] Transactional [] Investment
[] Others, please specify -----------------------
4. All Directors Name Address
Names and
Contact Addresses
5. Source of Funds Source of funds passing through the account:
[] Sales proceeds [] Trust funds per Trust Deed
[] Services rendered [] Others, please specify-------------------------
Tick as many boxes where
Appropriate
6. Anticipated Obtain information on the customer’s anticipated Volume and Type of Activity to be
Volume and Type conducted across the account:
of Activity Transaction Types Anticipated No. of Anticipated Amount per
Transaction per month month
Deposits (including
inward remittances)
Withdrawals (including
outward remittances)
7. Unincorporated Have you established that the business has been set up Yes No
Business/ for the legitimate purpose stated? (E.g. A visit to the [] []
Partnerships trading address or sighting annual accounts/tax returns
to confirm true nature of the business activities)
Section 1 – Indicate if the Applicant belongs to any of the following:
Level 1 - If the applicant(s) or authorized signatories fall into any of the following
Low Risk categories, check the appropriate box.
Customers
[] The applicant is a limited liability company, partnership, sole-proprietorships,
clubs & societies, non governmental organisations (NGO), ministries,
departments & agencies (MDAs), trusts but not associated with Politically
Exposed Person (PEP).
[] The applicant does not reside or operate in a high risk country.
[] The applicant whose funding is sourced from normal business activities.
Section 2 – Indicate if the Applicant belongs to any of the following:
Level 2 – If the applicant(s) or authorized signatories fall into any type of account that is not
Medium listed as either Level 1 and 3.
Risk
Customers
Sect ion 3 – Indicate if the Applicant belongs to any of the following:
Special or If the applicant(s) or authorized signatories fall into any of the following
High Risk categories, check the appropriate box. If not applicable, kindly ignore Sections 3
Customers
& 4.
[] The applicant is a Politically Exposed Person (PEP) or closely associated
with a PEP whose position / relationship is…………………………………….
[] The applicant resides or operates in a high risk country. 1 Please check
website (www.oecd.org/fatf) for the list of Non-Cooperative Countries & Territories
(NCCTs) provided by the Financial Action Task Force (FATF) and indicate the
name of the NCCT country.
[] The applicant whose funding is sourced from a high risk country,
namely………………………………………
Section 4 – Complete this section if applicant satisfied one or more categories in Section 3
Applicant Require details of applicant’s source of wealth and estimated net worth:
Source of
Wealth Kindly, indicate source of applicant’s net-worth:
[] Business [] Salary
[] Investments [] Inheritance/Gift
[] Other income source _____________________________
Estimated Net Worth :_________________________cedis
Estimate annual income or turnover of application:
________________________cedis
NOTE : For applicants completing Section 4, the joint approval of
Managing Director and the chief compliance officer of the bank or their
appointees is mandatory.
CAUTION: Any ‘No’ answer above must be backed by appropriate comments by the
responsible staff. A superior officer must review this form for completeness and accuracy
and approve the account opening. Information on this form must be updated as and when
necessary. All evidence supporting approval for this form must be retained for examination
of Bank of Ghana.
Section 5 – This section must be completed for all applicants categorizing them into
one of three (3) risk levels
To be completed By Account Opening To be reviewed by Branch Manager or other
Officer superior officer
Name: Designation: Name: Designation:
Comments: Comments:
Does potential customer fall within Section 3
above category? [] Yes [] No
(Tick as appropriate)
Signature ___________Date___________ Signature _____________ Date: ___________
CAUTION: Account Opening for Risk Applicant as identified in Section 3 must be approved
jointly by the Managing Director / Chief Executive Officer and Chief Compliance Officer or by
their designated officials as follows:
Name: Name:
Designation: Designation:
Date: Date:
Signature: Signature:
