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The Kcb Registration form represents a critical step for businesses aiming to establish an account with KCB Bank. This comprehensive application includes essential details about the business, such as its registered name, trading name, nature of the business, and contact information. Applicants must provide a corporate identification type, specifying whether they possess a Certificate of Registration or a Certificate of Incorporation, along with relevant numbers and issuing authority. The form also requires information about the directors or signatories, including personal details, contact numbers, and identification types. Business owners need to indicate their preferred account type, whether it’s a Business Current, Business Investment, or specialized accounts tailored for different needs. Financial information is key; applicants should clearly state expected transaction values, alongside requests for cheque books and statement frequency preferences. Finally, by affirming the accuracy of their provided information, applicants also authorize the bank to share necessary details with relevant agencies, ensuring transparency and compliance. With its structured approach and clarity, this form not only facilitates the opening of an account but also helps build a trusted relationship between the bank and its clients.

Kcb Registration Example

Making the Difference

BUSINESS ACCOUNT OPENING APPLICATION FORM

Registered and Non-registered Businesses

[FOR OFFICIAL USE ONLY]

 

Customer ID (Generated by the system):

ACCOUNT NUMBER:

PAP.1115-BUSINESS ACCOUNT APPLICATION FORM (REVISED 20120423)

DETAILS OF BUSINESS

 

 

APPLICATION DATE:

 

 

 

 

 

 

 

 

Name of Business

 

 

 

 

 

 

 

 

 

 

 

 

 

Trading Name:

 

 

 

 

 

(If different from the Registered Name)

 

 

 

 

 

 

 

 

 

 

 

Nature of Business(Industry)

 

 

 

Profession/Status

 

 

 

 

 

 

 

 

 

CONTACT ADDRESS & PHYSICAL ADDRESS

 

 

 

 

 

 

 

 

Postal Address

Postal Code

 

Town/City

 

 

 

 

 

Telephone

Cell Phone Number

 

C/O Where applicable

 

 

 

 

 

Fax Number

Email

 

Website

 

 

 

 

 

Physical Address

Street/Road

 

Building

 

 

 

 

 

Building Block Number

Uility Company

 

Uility Account Number

 

 

 

 

 

 

 

CORPORATE IDENTIFICATION TYPE:

Cerificate of Registraion

 

 

Cerificate of Incorporaion

 

 

(Tick Appropriately)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Number

 

Issuing Authority

 

 

 

 

 

Place of Issue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Date of Incorporaion/Registraion

 

 

 

KRA PIN Number

 

 

 

 

 

VAT Number

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTORS/SIGNATORIES DETAILS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CHAIRMAN/MD/PRINCIPAL SHAREHOLDER/SOLE PROPRIETOR

 

 

 

 

 

 

 

 

 

Surname

 

 

 

Other Names

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Date of Birth

 

Marital Status

 

 

 

 

 

Shareholding%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Postal Address

 

Postal Code

 

Town/City

 

 

Country

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Telephone (Residenial):

 

Telephone (Oce)

 

 

 

 

 

 

Fax no

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cell phone Number:

 

E-mail

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IDENTIFICATION TYPE:

 

ID

 

 

 

 

Passport

 

(Tick Appropriately)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Number

 

Issuing Authority

 

 

 

 

 

Place of Issue

 

 

 

 

 

 

 

 

 

 

 

 

Date of Issue

 

Expiry Date (Where applicable)

 

 

PIN cerificate number

 

 

 

 

 

 

 

 

 

 

 

 

 

PHYSICAL ADDRESS OF

 

Locaion /Street

 

 

 

 

 

Building/Estate

DIRECTOR/SIGNATORY

 

 

 

 

 

 

 

 

 

 

 

 

 

 

House no

 

Duraion at this Address

 

 

 

 

 

Property Descripion

 

 

 

 

 

 

 

 

 

 

 

 

 

Uility

 

Uility Company

 

 

 

 

 

Account Number

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ACCOUNTS HELD IN OTHER BANKS

Account Number:

Bank:

Branch:

 

 

 

 

 

 

 

 

 

ACCOUNT DETAILS

I/We hereby apply for: (Tick Appropriately)

 

Business Current

 

 

Business Investment

 

Business Privilege

 

 

Boresha Biashara

 

Tuungane Current

 

 

Tuungane Investment

 

Bankika Business

 

 

Community

 

 

 

 

 

 

Currency:

 

KES

 

 

 

USD

 

GBP

 

 

 

EURO

 

 

Others (Specify)

 

 

 

 

 

 

 

 

 

 

1

Entrepreneurs Account Agri-business

FINANCIAL INFORMATION

Please ick in the relevant boxes below to indicate the expected normal range of acivity in your account

Value of Transacions

 

 

 

 

 

 

 

 

 

 

 

 

Expected Range (KES. equivalent)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

upto 100,000

 

100,000-500,000

 

500,001- 1,000,000

Over 1,000,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sum of all payments into account per month

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total value of

Local Currency

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

cash/cheque

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign Currency

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

deposits per month

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total value of

Incoming

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

foreign remitances

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outgoing

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

per month

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CHEQUE BOOK REQUEST (Where Applicable)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cheque Book Size: (Tick Appropriately)

 

 

 

50 Leaves

 

 

100 Leaves Number of Books:

 

 

 

STATEMENT REQUEST (Tick Appropriately)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Statement Frequency:

 

Daily

 

Weekly

 

Monthly

 

 

Quarterly

 

Semi-annually

 

Annually

 

 

 

 

 

 

 

 

 

 

Statement Delivery:

 

 

Post Oce Box

 

 

Email

 

 

Retain

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I/We conrm that the informaion given above is true to the best of my/our knowledge. By signing on this form I/We request you to open an account in my/our name (s). I/We agree that I/We have read, understood and accepted the terms and condiions of this account, supplied separately, and agree to be bound by them. I/We hereby authorize the Bank to disclose any informaion relaing to my/our account (s) to any credit reference agency, any other insituion or third party as it deems necessary.

1ST DIRECTOR/SIGNATORY

2ND DIRECTOR/SIGNATORY

3RD DIRECTOR/SIGNATORY

4TH DIRECTOR/SIGNATORY

AFFIX PHOTO

HERE

AFFIX PHOTO

HERE

AFFIX PHOTO

HERE

AFFIX PHOTO

HERE

Signature

Full Name

SignatureSignature

Full Name

Full Name

 

 

Signature

Full Name

Idenificaion

Idenificaion

Idenificaion

Idenificaion

Contact

Contact

Contact

Contact

Signed in the presence of

 

 

 

 

 

 

Signed

 

 

 

 

 

Date

 

 

Branch’s Ocial Stamp

 

 

 

 

 

 

MODE OF SIGNING

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OFFICIAL USE ONLY

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Name of Sales Staff:

 

 

 

 

Sales Code(12x):

 

 

Branch DAO:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sector:

Target:

Customer Type:

 

Risk Class:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CUSTOMER INFORMATION CHECKLIST

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valid Idenificaion documents obtained & authenicated

 

 

Resoluion obtained

 

Contact informaion available obtained

 

 

 

 

 

 

 

 

 

Document copies clear, complete & duly cerified

 

 

 

Photographs obtained

 

 

Alteraions countersigned

 

 

 

 

 

 

 

 

 

 

 

Physical Address Vericaion/Uility bill obtained

 

 

 

Blacklist Checked

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Authorizing Ocial’s Name:

 

 

 

 

 

 

Signature No.:

 

 

 

 

 

Signature & Branch Stamp:

2

File Breakdown

Fact Name Description
Application Purpose The KCB Registration form is used to open business accounts for both registered and non-registered businesses.
Required Information Applicants must provide details about their business, including the name, trading name, nature of business, and contact information.
Types of Identification Applicants can choose between a Certificate of Registration and a Certificate of Incorporation for corporate identification.
Financial Expectations The form includes sections to indicate expected transaction ranges, cash deposits, and incoming foreign remittances.
Regulatory Compliance The form complies with local banking laws and regulations, ensuring proper identification and verification in line with financial governance.

Guide to Using Kcb Registration

Once you have gathered all the necessary information for the Kcb Registration form, you can proceed to fill it out. This form represents an essential step in initiating your business account application. Below are the steps to ensure accurate completion of the form.

  1. Begin by writing the application date at the top of the form.
  2. Enter the name of the business in the designated space, alongside any trading name if applicable.
  3. Specify the nature of the business or industry you operate in.
  4. Provide your contact address and physical address. Include your postal address, postal code, town or city, and all phone numbers.
  5. Select the corporate identification type by ticking the appropriate box for either "Certificate of Registration" or "Certificate of Incorporation". Fill in the required details such as the number, issuing authority, place of issue, and date of incorporation/registration.
  6. Include your KRA PIN number and VAT number if applicable in the required fields.
  7. Fill out the details for directors or signatories. You will need to include name, date of birth, marital status, shareholding percentage, postal address, and contact details for each person.
  8. Indicate the identification type by ticking either "ID" or "Passport" and providing the relevant identification number and other details.
  9. State the accounts held in other banks by supplying the account number, the bank’s name, and branch.
  10. Choose the type of business account you are applying for by ticking the appropriate box.
  11. Indicate the currency you wish to use for the account from the provided options.
  12. Provide financial information regarding expected transaction ranges, values of deposits, and any cheque book or statement requests.
  13. Read and confirm the declarations by signing the form, ensuring all information is accurate and true to the best of your knowledge.
  14. Affix photos for each director/signatory as required.
  15. Ensure that the contact information for any signatory is complete and then sign in the presence of an authorized bank official.

After completing the form, double-check to confirm that all fields are filled out accurately and that required signatures and photographs are in place. This thoroughness will facilitate a smoother processing of your application.

Get Answers on Kcb Registration

What is the purpose of the Kcb Registration form?

The Kcb Registration form is designed for businesses looking to open a business account with KCB Bank. It collects necessary information about the business, its owners, and financial activities. Completing this form accurately ensures that your application is processed smoothly.

What information is required to complete the Kcb Registration form?

The form requires various details, including:

  • Name and trading name of the business
  • Contact and physical address
  • Nature of the business
  • Details about directors or signatories, including identification information
  • Financial information such as expected transaction volumes

This information helps the bank assess the application and ensures compliance with regulatory standards.

How long does it take for the account to be opened after submitting the form?

The time taken to open the account can vary. Generally, if all required documents are provided and the application is complete, it may take a few business days for the account to be opened. However, processing times can be longer if additional information is needed.

Can I submit the Kcb Registration form online?

Is there a fee associated with opening a business account?

Yes, there may be fees involved in opening a business account. These fees can vary depending on the type of account you choose. It is advisable to inquire directly with KCB Bank for the latest fee structure and any ongoing promotional offers.

Common mistakes

Filling out the Kcb Registration form can seem straightforward, but many people make common mistakes that can delay the process. Here are ten key missteps to look out for when completing this important document.

1. Missing or Inaccurate Business Information: One frequent error is not providing complete details about the business. Ensure the business name and trading name are accurate and that all required information, like the nature of the business, is filled out precisely. Omitting or misrepresenting these details can create confusion and lead to rejection.

2. Incorrect Contact Information: Providing incorrect or outdated phone numbers and email addresses can hinder communication with the bank. Always double-check for typos and ensure you list the best way to reach you.

3. Incomplete Corporate Identification: While filling out the section regarding corporate identification types, some applicants forget to tick the appropriate box. Remember to mark whether you have a Certificate of Registration or Incorporation, and include any relevant identification numbers accurately.

4. Missing KRA PIN Number: Many applicants mistakenly skip the KRA PIN number, which is crucial for tax identification. Ensure this number is filled in correctly to avoid tax-related complications later on.

5. Forgetting Utility Information: Failing to provide utility information, such as the utility company and account number, is a common misstep. This information is vital for verifying your physical address, so be thorough in this section.

6. Incomplete Directors/Signatories Details: Applicants often overlook filling out all the details for each director or signatory. Make sure to include the required identification type, valid contact information, and any other specified details for all individuals involved in the application.

7. Misunderstanding Account Types: Another mistake stems from ambiguity regarding the type of account being opened. Take a moment to consider the account types available and select the one that best meets your business's needs.

8. Neglecting the Financial Information Section: Applicants sometimes leave the financial information section blank or incomplete, omitting details about expected transaction ranges and incoming/outgoing payments. This information will help the bank understand your business better, so be comprehensive.

9. Not Signing the Form: A simple but critical mistake is forgetting to sign the application form. Be sure all required signatures are in place before submitting to avoid processing delays.

10. Ignoring the Customer Information Checklist: Failing to review the customer information checklist can lead to overlooking necessary documents. Always confirm that identification and supporting documents are clear, complete, and authenticated prior to submission.

By avoiding these common pitfalls, you can help ensure a smoother application process and facilitate the opening of your business account!

Documents used along the form

The Kcb Registration form is typically accompanied by various other documents that support the account opening process and establish the legitimacy of the business. Here is a list of six common forms and documents used alongside the Kcb Registration form.

  • Certificate of Incorporation: This document proves that the business is legally registered and allows it to operate as a specific entity, such as a corporation. It includes key details about the company, like its name, registration number, and date of incorporation.
  • Business License: A business license is a government-issued document that permits a business to operate legally within a specific jurisdiction. It ensures that the business complies with local regulations and has met required legal obligations.
  • KRA PIN Certificate: The Kenya Revenue Authority Personal Identification Number (PIN) certificate is mandatory for tax purposes. It identifies the business for the collection of taxes and formalizes its legal obligation to pay taxes in Kenya.
  • Shareholder Agreement: This document outlines the responsibilities, rights, and privileges of the shareholders involved. It provides clarity on governance, profit sharing, and dispute resolution within the business structure.
  • Board Resolution: A board resolution is a formal document that records decisions made by a company's board of directors. It is often required to authorize actions such as account openings, signatory appointments, and contractual agreements.
  • Utility Bill: A recent utility bill serves as proof of the business's physical address. This document helps verify that the business is operating from the address provided in the registration process.

These documents are essential for ensuring that the business registration process is smooth and compliant with regulatory standards. Each plays a unique role in establishing the legitimacy, structure, and operational capacity of the business.

Similar forms

  • Business License Application: Much like the Kcb Registration Form, a business license application requires detailed information about the business entity, including its name, address, and nature of operations. Both forms validate the legitimacy and operational scope of the business.

  • Tax Registration Form: The Kcb Registration Form, similar to a tax registration form, collects essential data such as the Tax Identification Number (TIN) and other relevant identification details. Both documents serve to establish an official record for taxation purposes.

  • Partnership Agreement: A partnership agreement and the Kcb Registration Form can share common elements, including the names of business partners and their specific roles. Each document emphasizes clarity regarding ownership and responsibilities.

  • Corporate Bylaws: Similar to the Kcb Registration Form, corporate bylaws outline the governance structure of a business. Both documents help define the roles of directors and signatories, contributing to organizational transparency.

  • Shareholder Agreement: A shareholder agreement, like the Kcb Registration Form, includes information about ownership shares and decision-making processes. Each document serves to formalize the relationships between stakeholders in the business.

  • Operating Agreement: For Limited Liability Companies (LLCs), the operating agreement is akin to the Kcb Registration Form. Both require identification of members and details about the management structure, ensuring all parties are on the same page.

  • Loan Application Form: A loan application form collects financial details and personal information very similar to that in the Kcb Registration Form. Both forms require a demonstration of financial standing and the purpose of the request.

  • Employment Application: Just as an employment application gathers personal identification and employment history, the Kcb Registration Form records personal and business identification details, emphasizing thorough verification.

  • Financial Statement Template: Both financial statement templates and the Kcb Registration Form require disclosures of financial status. Each document aids in assessing the overall financial health of the business.

Dos and Don'ts

When filling out the KCB Registration form, it's essential to be thorough and accurate. Here’s a list of things to do and avoid to ensure a smooth application process.

  • Do: Carefully read the entire form before you start filling it out. Understanding each section helps prevent mistakes.
  • Do: Provide accurate and complete information. Double-check your answers to avoid any discrepancies later.
  • Do: Use clear and legible handwriting if completing the form by hand. This ensures that your information is easy to read.
  • Do: Gather necessary identification and supporting documents beforehand. This includes the certificate of registration and KRA PIN number.
  • Don't: Leave any fields blank unless specified. Omitting information can delay the processing of your application.
  • Don't: Use abbreviations or shorthand when filling out your contact information. Provide full names and complete addresses for clarity.
  • Don't: Forget to sign the form. An unsigned application is generally considered incomplete.
  • Don't: Submit photocopies of identification or documents unless explicitly requested. Original documents are usually required for verification.

Misconceptions

Many people hold misconceptions about the KCB Registration Form, which can lead to confusion during the application process. Here are seven common misunderstandings:

  • Misconception 1: The form is only for registered businesses.
  • This is not entirely true. The KCB Registration Form is designed for both registered and non-registered businesses. All types of enterprises can apply for a business account.

  • Misconception 2: You need to have a complex business plan to fill out the form.
  • While having a clear understanding of your business is helpful, a formal business plan is not required at this stage. The form focuses more on basic details about the business and its directors.

  • Misconception 3: Only one director needs to sign the form.
  • In fact, if there are multiple directors, signatures from each director are needed. This ensures that all signatories are in agreement concerning the account.

  • Misconception 4: You must submit original documents only.
  • It's common to think that originals are necessary, but certified copies of identification and registration documents are usually accepted. Always check specific bank requirements.

  • Misconception 5: The form can be submitted online.
  • Currently, the KCB Registration Form must be submitted in person at a bank branch. This is to ensure that all information is verified correctly on-site.

  • Misconception 6: The application process is quick and doesn’t require follow-ups.
  • While some applications may be processed quickly, others may take time depending on the verification process and the completeness of the submitted information. It’s advisable to stay in touch with the bank for updates.

  • Misconception 7: You can choose any account type without explaining your business activities.
  • The bank generally requires a brief description of your business to determine the most suitable account type. This helps tailor services to the specific needs of your business.

Key takeaways

Filling out the Kcb Registration form can seem daunting, but with a clear understanding, it becomes straightforward. Here are 10 key takeaways to keep in mind:

  1. Ensure that all sections of the form are completed. Incomplete applications can delay the account opening process.
  2. Provide accurate details for both the registered name and the trading name. If they are different, make sure to state both clearly.
  3. Include all contact information, including a valid email address. This will facilitate communication with the bank.
  4. Choose the correct type of corporate identification. Indicate whether you are submitting a Certificate of Registration or Certificate of Incorporation.
  5. Be prepared to provide details about directors and signatories. Include their full names, identification numbers, and contact information.
  6. Indicate the desired account type by ticking the appropriate box. Familiarize yourself with the account options available so you can choose wisely.
  7. Disclose your expected transaction values accurately. This information helps the bank understand your banking needs.
  8. If you require a cheque book, specify the size and quantity clearly to avoid misunderstandings.
  9. Review all terms and conditions associated with the account before signing. It is important to understand your obligations.
  10. Finally, make sure to affix photos where indicated. This is a crucial step for identification purposes.

By following these takeaways, you can make the process smoother and more efficient. Your attention to detail will lead to a successful application!