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 make sure we're in line with the latest regulation to stop financial crime. We're committed to fighting financial crime, but we need our customers help to make sure we have the most up-to-date information.

What does this mean for me?

It’s important that we understand our customers and how they intend to use their account. The new regulation requires us to ask for more information from you to help us do this. This means you'll need to answer all the questions carefully and give us detailed answers. We understand it might take longer than usual to complete your form but we're here to help. Need help completing your form? Read the FAQs below. We might reach out to you to update your information on an ongoing basis. If you still have questions, give us a call on 0800 092 3300.

Just so you're aware, we don't 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.

Please do not submit an application for a company with Bearer share arrangements in place.

My account needs to be refreshed after dormancy or another event

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

Personal Account Refresh Form

File size: 2.2 MB

Business Account Refresh Form

File size: 2.3 MB

Pension Account Refresh Form

File size: 148.6 KB

Trust Account Refresh Form

File size: 109.4 KB

Frequently Asked Questions

General

Yes, you'll 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 in the form your intermediary can help you complete it.

Yes, you can find all the latest forms on our Account literature page.

Yes, unless the form tells you to skip a question. If it doesn't, you'll need to answer every question, 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 needs and help in the fight against financial crime.

Yes, you must answer all the questions even though you're an existing customer. Please let us know if there's been a change to any of your details. We'll need to return the form to you if you don't complete the Renewal Mandate.

All forms refer to an additional sheet if there isn't enough space to write your information. Please make sure you use one if you need to. Alternatively, please fill out the 'Additional Information' section at the end of the form.

We'll still accept the previous version of the forms until 16 December, but we can't process any previous versions after that date.

This is any income you've received from student-based activities or funding that's been paid into your 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 you got the money from outside the UK, you must let us know which country the money came from e.g. the salary you 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. You mustn't calculate your funds 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. your salary. You can tick the same option for each question.

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

A Key Controller is an individual you've selected who exercises direct control over a company or business and is a key decision maker.

Business customers

It's 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 usually 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's 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'll need to provide your business TIN. You can find this in the top right corner of a tax assessment issued by a foreign tax office or the equivalent for paying 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. your salary. You could 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 is about your ongoing funds or regular deposits into the account, e.g. your salary. Please tick the relevant boxes and provide the value and which country the money came from.

This is so that you can clearly see how much money you've earned personally and, as well as what your business earned.

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 make sure 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'll need to provide audited annual reports 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'll 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 isn't 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'll need to provide us with a full list of authorised people.

This is so that you can clearly see how much money you've earned personally and, as well as what your business earned.

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, e.g. pension income. You can 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'll need to provide your TIN. You can find this in the top right corner of a tax assessment.

Financial crime literature updates

What does this mean for me?

Personal Account Refresh Form

Business Account Refresh Form

Pension Account Refresh Form

Trust Account Refresh Form

Frequently Asked Questions

Do I complete my form or mandate in the usual way?

Can my Intermediary still assist me in completing my application?

Are the new forms available online?

Do I need to answer all the questions in the form?

Do I need to answer all the questions in a Renewal Mandate?

How do I complete my full name or any other information if there is not enough space in the box provided?

What if I have already completed and sent a form?

What is student related income?

How do I complete 'Through which activities were the funds obtained to open the account'?

How do I complete 'Through which activities were the funds obtained to open the account' for a joint account?

'Your employment and income details' is split into two similar questions; do I need to complete both?

Do I need to complete 'Authorised signatories on this account'?

What is a Key Controller?

Is it necessary to answer all the questions in the Business application form?

What is a key supplier?

What is an agent or distributor?

What is a key trading partner?

What is a SIC code?

What is a Business Tax Identification Number (TIN)?

'Please tell us your organisation's details' has two similar questions, do I need to complete both?

How do I answer the question 'Through which activities were the funds obtained to open the account'?

How do I answer the question 'Tell us what sources these credits will come from'?

Why are the options for initial and ongoing funds split into Personal and Business options?

How do I answer, 'What is my actual business turnover'?

What if I am a sole trader or Partnership and not registered with Companies House?

How do I complete 'Please provide a detailed description of what your business does'?

What is a Nominee Shareholding agreement?

What is a voting rights percentage?

What is a Joint Venture?

What is a Community Interest Company?

What does it mean if a business has a consolidated status?

What does it mean if a business has majority owned status?

How do I answer 'Approximately how many credit and debit transactions are expected on this account over the next 12 months'?

What evidence do I need to provide if I am submitting an application form for a business with a Consolidated Status or Majority Owned Status?

Who are the trustees and authorised signatories?

Do I need to provide details for a corporate trustee?

'Please tell us your organisation's details' has two similar questions, do I need to complete both?

Why are options for initial and ongoing funds split between Personal and Business options?

How do I answer 'Approximately how many credit and debit transactions are expected on this account over the next 12 months'?

'Source of funds' has two similar questions; do I need to complete both?

How do I answer 'Approximately how many credit and debit transactions are expected on this account over the next 12 months'?

What is a Key Controller?

What is a Business Tax Identification Number (TIN)?