Service · Bank introductions
Banking introductions for businesses and individuals
As approved intermediaries for banks and E-Money issuers worldwide, we review your requirements, narrow down your options and introduce you to the institution you prefer — then hold your hand through the application.
We don't like to tell you what to do with your money, so we will never recommend one bank over another. Instead, we work with a number of banks and E-Money issuers worldwide, and our experienced team reviews your requirements to help narrow down your options and introduce you to the bank you prefer.
A changing landscape
In addition to AEOI, many international private banks now refuse American clients, or clients with any dealings with America — a consequence of the US FATCA rulings. This is causing problems for businesses that have held good banking relationships for years but now find themselves facing closure.
Times are changing almost daily, and getting bank approval is more and more difficult. At Octopus, we pride ourselves on our ability to adapt, to find new banking solutions and to stay ahead of the game for our clients.
Your dedicated File Manager
Our experienced File Managers understand what the banks expect to see by way of KYC documentation, and hold our clients' hands throughout the application process. They have a one-to-one relationship with each client, who prefers a single point of contact. This keeps the flow of information running smoothly and alleviates stress wherever possible.
Our File Managers can also advise if a client's business model does not tick the right boxes for the bank they have chosen from our list of options — and offer alternatives.
Application timeline
With our clients' input and our File Managers' experience, the majority of applications go to the bank within 24 hours of our team receiving everything back from the client. The bank's response time then varies from institution to institution.
On average, an application that is detailed, low-to-average risk and has all the required paperwork currently takes approximately 2 to 6 weeks for approval by the bank's compliance team — some faster than others.
A varied selection of banking options
Octopus has a varied selection of banking options, from private banking in Gibraltar to commercial banking in Mauritius, St. Vincent and the Grenadines, Panama, Cyprus and Switzerland. We are constantly developing new relationships with international banks to offer our clients.
Account features
All of the banks we work with offer:
- Multi-currency accounts
- Secure internet banking
- Telephone banking
- A choice of cards to use around the world
How Octopus helps
As a Gibraltar Financial Services Commission (GFSC)-regulated firm (FSC No. 0827B), we manage banking introductions end to end: assessing your requirements, narrowing the options, preparing KYC documentation and liaising with the bank through to approval.
Explore related services: Company Formation, Accounting & Tax and Gibraltar residency.
FAQs
Need an introduction to the right bank?
Tell us about your business and we'll review your requirements, narrow the options and introduce you to the institution you prefer.
This page provides general information about banking introductions and does not constitute financial advice. Bank approval is at the discretion of each institution.