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Financial crime literature updates

Changes to literature to align with financial crime regulation

We've made important changes to some of our application forms and mandates. This is to ensure we are in line with the latest regulation aimed at combatting financial crime. We are committed to fighting financial crime, but we need our customers help in ensuring we have the most accurate and up-to-date information.

What does this mean for me?

It is essential that we understand our customers and how they intend to use their account, the new regulation requires us to ask more information from you to help us do this. We therefore request that you carefully answer all the questions as fully as possible. We understand that it might take longer than usual to complete your form but we are here to help. Please read the FAQs below to help you complete your form but, if you still have questions please call us on: 0800 092 3300.

Please note that Cater Allen will not accept applications from a Credit Union, money service provider, payment services provider or any business that offers related services such as Western Union or MoneyGram.

Also, please do not submit an application for a company which has Bearer share arrangements in place.

My account needs to be refreshed after dormancy or other event

If you've received a letter after your account has become dormant, you may have been asked to complete a form. You can find the forms below. Please choose the form that most appropriately matches your account type.

Frequently Asked Questions

General

Yes, you will still need to download the latest version from our website to edit the form digitally or print it and send it to:

Cater Allen Operations
Sunderland
SR43 4FB

Yes, as long as you read and understand all the sections within the form your Intermediary can help you complete it.

Yes, all the latest forms can be found on the Cater Allen website within the Account literature page.

Yes, unless the form tells you otherwise you do need to complete all the questions, or we may not be able to proceed with your application. The questions in the form help us to open your account correctly first time, understand your requirements and help in the fight against financial crime.

Yes, you must answer all the questions. We appreciate you are an existing customer however, your details may have changed or if not, we need you to confirm they haven't by completing all the questions within the Renewal Mandate. If you do not fully complete the Renewal Mandate we will need to return it to you.

All forms refer to an additional sheet if there is insufficient space to capture any information. Please ensure you use an additional sheet to capture any further details required, if necessary. Alternatively, please fill out the 'Additional Information' section at the end of the form.

We will still accept the previous version of the forms until 16 December, but we cannot process any previous versions after that date.

This is any income obtained from student based activities to be deposited into the account.

Personal customers

We are asking you to tell us about the initial funds that will be deposited into your new account. Calculate the total funds you intend to open the account with. Tick all the activities which contributed towards the funds and complete the corresponding value. If the funds were obtained outside the UK, you must also list the country the funds originated from e.g. wages earned while working in France.

Each applicant must answer this section in relation to the funds they are contributing towards the total initial deposit into the new account. The funds should not be calculated together under one applicant.

The first section on the left is asking about your initial deposit into the account. The second section on the right is asking you about the ongoing or regular deposits into the account, e.g. wages. It is possible to tick the same option for each question.

Only complete this section if you are applying for a Cash Hub account.

A Key Controller is an individual appointed to exercise direct control over a company or business and is a key decision maker.

Business customers

Please note it is important to complete the questions about your business in full. This includes questions around key suppliers, agents, distributors and key trading partners and their locations.

A key supplier is third party who provides components or items for your business.

An agent or distributor is usual an independent entity or individual who sells products on behalf of your business.

A key trading partner is an entity which provides or manages the exchange of goods or services.

SIC stands for Standard Industrial Classification, it is a code which provides a description of your company's nature of business. You can find a full list of SIC codes on Gov.uk.

Where your business is registered outside the UK, you will need to provide your business tax identification number which is usually found in the top right corner of a tax assessment issued by a foreign tax office or equivalent for the payment of tax in jurisdictions outside the UK.

Yes, the first question relates to the initial deposit into your new account. The next question is asking you about the ongoing or regular deposits into the account, e.g. wages. It is possible to tick the same option for each question. 

This question relates to the initial deposit into the account and where these funds come from. Please tick the relevant boxes and provide the value and country the funds originated.

This question relates to ongoing funds or regular deposits into the account e.g. wages. Please tick the relevant boxes and provide the value and country the funds originated.

This is so that you can clearly identify which funds have been gained through you personally and which have been gained through a business.

Please calculate how much money the business is predicting to make over the next 12 months. Please note, this question relates to the whole business, not just the account and can be an estimate.

Please ensure you provide the documentation requested in section 10.

Please provide us with as much detail as possible including what type of work you do within your sector e.g. software development within IT sector and what your role is day to day.

A nominee shareholder agreement is a company or individual that takes on the role of shareholder on behalf of actual shareholder (company founder).

Voting rights are rights granted by the holding of a share or shares in a company that grant the holder the option to vote in certain activities. The voting rights percentage is the percentage of voting rights you hold in that company.

A Joint Venture is a business arrangement where two or more parties agree to pool their resources. In a joint venture arrangement, each of the participants is responsible for profits, losses and costs associated with it. However, the venture is its own entity, separate and apart from the participants' other business interests.

A Community Interest Company (CIC) is a company that wants to use their profits and assets for the public good. A CIC is expected to make a profit or surplus whereas a charity is considered a not for profit organisation which should not profit from the work it carries out.

Consolidated status refers to consolidation of the subsidiary's financial results into those of the parent, such that they are presented as the financial results of a single economic entity i.e. a group.

A majority owned company is controlled by a shareholder who owns more shares in it than any other shareholder. Majority owned refers to effective ownership or control (e.g. via voting rights or other form of control) by the parent company listed on an Approved Exchange of more than 50% of the share capital of the subsidiary.

Please answer this as accurately as possible taking into account regular credits and deposits. We appreciate you may not get this exactly right.

You will need to provide audited annual report and accounts, financial statements or a signed letter from a third-party solicitor or accountant registered with an Approved Professional Body.

Trust customers

A trustee can be an Authorised Signatory but does not have to be, they will be named in the trust deed and we must ID them if they are. An Authorised Signatory can be anyone appointed by the trustees to assist in the operation of the account but is not named in the deeds as a trustee i.e. they have no formal vested interest in the trust itself.

Corporate trustees are not necessary, but some people like to have them for various reasons. A corporate trustee could be a business or a person who is acting as a trustee via their business, a typical example being a financial advisor. If the corporate trustee is a business, you will need to provide us with a full list of authorised people.

Yes, the first question relates to the initial deposit into your new account. The next question is asking you about the ongoing or regular deposits into the account, e.g. wages. It is possible to tick the same option for each question. 

This is so that you can clear identify which funds have been gained through you personally and which have been gained through a business.

Please answer this as accurately as possible taking into account regular credits and deposits. We appreciate you may not get this exactly right.

Pension Customers

Yes, the first question relates to the initial deposit into your new account. The next question is asking you about the ongoing or regular deposits into the account, eg; pension income. It is possible that you tick the same option for each question.

Please answer this as accurately as possible taking into account regular credits and deposits. We appreciate you may not get this exactly right.

A Key Controller is an individual appointed to exercise direct control over a company or business and is a key decision maker.

Where your business is registered outside the UK, you will need to provide your business tax identification number which is usually found in the top right corner of a tax assessment.