{"componentChunkName":"component---src-templates-post-tsx","path":"/en/account-opening-a-checklist-to-speed-up-your-onboarding-process/","result":{"data":{"allStrapiPost":{"nodes":[{"categories":[{"title":"Knowledge Centre","translated":[{"locale":"en","name":"Knowledge Centre"},{"locale":"fr_FR","name":"Centre de Connaissances"},{"locale":"pt_PT","name":"Centro de Conhecimento"},{"locale":"ru_RU","name":"Центр знаний"},{"locale":"lt_LT","name":"Žinių centras"},{"locale":"zh_CN","name":"资讯中心"},{"locale":"ko_KR","name":"지식 센터"},{"locale":"pt_BR","name":"Centro de Informação"},{"locale":"nl_NL","name":"Kenniscentrum"},{"locale":"it_IT","name":"Centro di Conoscenza"},{"locale":"ar","name":"مركز المعرفة"},{"locale":"es_ES","name":"CENTRO DE CONOCIMIENTOS"},{"locale":"lv_LV","name":"ZIŅU CENTRS"},{"locale":"et_EE","name":"Teabekeskus"},{"locale":"pl_PL","name":"Centrum wiedzy"}]},{"title":"Business","translated":[{"locale":"en","name":"Business"},{"locale":"ru_RU","name":"Бизнес"},{"locale":"pt_BR","name":"Empresa"},{"locale":"ko_KR","name":"비즈니스"},{"locale":"zh_CN","name":"商务"},{"locale":"lt_LT","name":"Verslui"},{"locale":"pt_PT","name":"Empresa"},{"locale":"it_IT","name":"Business"},{"locale":"fr_FR","name":"Entreprise"},{"locale":"nl_NL","name":"Zakelijk"},{"locale":"ar","name":"الأعمال"},{"locale":"es_ES","name":"NEGOCIOS"},{"locale":"lv_LV","name":"BIZNESAM"},{"locale":"et_EE","name":"Äriklient"},{"locale":"pl_PL","name":"Dla firm"}]}],"created_at":"2026-02-04T08:25:01.019Z","slug":"account-opening-a-checklist-to-speed-up-your-onboarding-process","translated":[{"id":731,"description":"When you apply for a business account, you want to be operational as quickly as possible. However, payment service providers like Bankera are required to perform rigorous due diligence to comply with applicable anti-money laundering regulations. While these checks are mandatory, the speed at which they are completed often depends on the quality of the information provided in your application. We have analyzed our internal onboarding data to identify the most common reasons for delays. By following this high-utility checklist, you can ensure your application is \"review-ready\" from day one, potentially cutting your onboarding time significantly.","content":"

1. Master the \"Two-Sentence\" Business Description

One of the most frequent causes of delays is a vague business description. Compliance officers need to understand exactly what your company does, how it generates revenue, and who your clients are.

 

A good rule of thumb is the two-sentence test. Can you explain your business model in two simple sentences that a person outside your industry would understand?

Ensure this description aligns with the NACE code (industry category) you select during the application. If your application says \"manufacturing\" but your description suggests \"consulting,\" your application will be paused for manual clarification.

2. Audit Your Online Presence

For digital-first businesses, your website is your storefront. Before applying, ensure your online presence is fully functional and consistent with your application.

3. Prepare Your Corporate Documents

Gathering documents is usually the most time-consuming part of the process for clients. To open a dedicated European IBAN account, you generally need the following four pillars of corporate documentation:

We generally accept documents in their original language if they are provided in their original digital format. While certification, apostillization, or translation into English may still be required in certain cases, this step can often be waived if your documents are listed on a register that is publicly accessible to our team. Providing links to these official sources instead of certified copies can save days of administrative work, provided the documents are up-to-date (ideally not older than 6 months).

4. Clarify Your Corporate Structure

Complex ownership structures are often used for legitimate tax optimization, but they can slow down onboarding if not explained clearly. If your company is owned by another company (a holding structure), we need to peel back the layers until we identify the ultimate beneficial owners (or UBOs), the natural persons who ultimately own or control more than 25% of the entity.

For a deeper dive into the specific questionnaires you might face, check our FAQ section on why you have to submit a natural or legal person questionnaire.

5. Prepare for Source of Wealth and Source of Funds

For higher-volume accounts or specific industries, you may be asked to prove the legitimacy of your funds. It is vital to understand the difference between the two:

Having audited financial statements, tax returns, or bank statements from other institutions ready can prevent delays here. For a detailed breakdown of what documents we accept, read our article on understanding Source of Wealth and Source of Funds requirements.

6. Verification

Once your documents are submitted, the final step involves identity verification for the account operators. This is a standard procedure across the industry. You can learn more about how to verify your Bankera account and the typical timelines involved in our FAQ on how long it takes to verify an account.

 

By preparing these elements in advance, you move from being a \"file under review\" to an active client much faster. Ready to get started? Sign up and complete your application today.

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