What information and documents do I need to open a business account?

To finish opening your business account, you'll need to provide specific information about your business.

This is a guide to the details and documents you'll need to provide for your company type to complete the account application process. 

Requirements for all companies

Documents required:

• A supplier invoice (if the business was incorporated within the last 18 months)

Information about:

• The destination of the funds
• The reason for opening an Xe account
• The way in which you sell the product or service
• A detailed description of your business activity
• Information about your customers - are they public government bodies, charities or religious groups?

Regional requirements

United States of America

Limited Liability Companies and Corporations must provide the following information about owners (who own 25% of the business or more) and all directors:  

• Full name
• Date of birth
• Address (optional for directors)

Canada

Private Corporations must provide the following information about owners (who own 25% of the business or more), at least one director and others:

• Full name
• Date of birth
• Occupation
• Address

United Kingdom

In addition to a supplier invoice, UK businesses must provide a bank statement (for Limited Companies this is only required if the business was incorporated within the last 18 months).

Limited Companies must provide the following information about owners (who own 25% of the business or more) and at least one director:

• Full name
• Date of birth
• Address