Stage 1: Determining the client’s needs

You send a request to open a bank account or payment system for your company and instead of a million questions, you receive one simple file from us. At the very first stage of our cooperation, we provide you with a specially designed questionnaire that helps us collect as much information about your business as possible in order to understand your wishes and real needs.

The information you need to provide us with in this questionnaire is as follows (additional requests are possible):

• Information about the legal entity;
• Information about the owners of the legal entity;
• Company activities;
• In which currency should the account be opened;
• Approximate monthly turnover;
• Approximate number of transactions per month;
• Average transaction size;
• Citizenship;
• Website (if available and in case the client wants to open a corporate account);
• Number of shareholders (corporate account);
• Volume of shares owned by the company’s shareholders (corporate account).
• Etc.

After you fill out the questionnaire, it is sent to the company’s lawyers for review. They, in turn, carefully study the questionnaire and, in accordance with the client’s needs, form a list of payment solutions that, in the opinion of the lawyers, may suit him. When forming the appropriate list, the lawyers rely on such criteria as:

• the client’s jurisdiction;
• the type of activity of the client’s company;
• the geography of payments made by the client on its part or received from other persons;
• sources of income;
• types of payments needed by the client (SEPA, SEPA Instant, SWIFT)
• development plans.

At the same stage, if the client so desires, the lawyers of Manimama Law Firm can provide a full consultation on options for opening a corporate account.

Stage 2: Choosing a payment solution

After the successful completion of the first stage and if the client wishes to continue cooperation with our company in order to open a corporate account, a joint working chat is created between the lawyers of our company, who will be directly involved in opening the account, and the client.

In this chat, further communication takes place directly between the client and the lawyers, which allows optimizing the communication process and allowing the client to receive answers to their questions that may arise during the account opening process as soon as possible.

After creating the chat and signing the contract, the client is provided with a list of payment solutions that, in the opinion of the lawyers, may suit him with detailed conditions and tariffs.

After the client has reviewed the information provided to him, he makes a decision as to which payment institution will initiate the process of opening a corporate account for him.

The final step at this stage is to form and fill out a preliminary application and send it to the bank or EMI to confirm the possibility of onboarding the client’s company, as well as to obtain detailed tariffs for the company. It is important that tariffs are formed on an individual basis and may vary depending on:

• The company’s field of activity;
• The company’s jurisdiction;
• Monthly turnover;
• Citizenship of shareholders

Therefore, sending a preliminary application to the payment institution is an important step that allows the client to understand what tariffs can be expected when using the services of the relevant institution.

Stage 3: Submitting a full application

We received information from our partners and passed it on to the client for consideration. Well, it’s time to submit a full application. The application format differs depending on the payment institution, often at this stage it is important to verify the identity of the director and beneficiary of the company. After that, the lawyers of our company send the application with all the necessary documents to the payment system and its representatives provide “initial feedback” after studying the relevant application.

This feedback is processed by lawyers and transmitted to the client. At the same time, our company’s lawyers form a request to the client to obtain additional documents that the bank or payment system requests for opening a corporate account.

There is no exhaustive list of documents or questions that may arise. It is only important to understand that the client is obliged to provide any documents that the payment institution requests.

Stage 4: Correspondence with the compliance department and decision-making

This is a key stage where legal support is critical. After submitting an application, the bank or EMI begins to review the documents, company structure, sources of funds, types of transactions, and jurisdictions with which it is planned to work.

At this stage, there is intensive correspondence with the payment institution’s compliance department, during which it is important to clearly and unambiguously argue all aspects of the business and justify each answer. You and I will need to go through the following important steps:

1. Filling out forms, questionnaires and documentation

At this stage Manimama lawyers :

• Prepare all responses to compliance requests;
• Fill out bank forms and questionnaires;
• Write official letters on behalf of the client, taking into account the institution’s internal standards;
• Ensure the accuracy, consistency and compliance of all submitted data.

We take on all communication in this regard. If necessary, we ask the client to provide new or update existing information.

2) Constant communication with bank/EMI managers

We do not work through general mail, but directly with managers of banks and payment institutions. This allows you to:

• Monitor the status of the application in real time;
• Speed ​​up the review process;
• Avoid “losses in translation” and errors in interpreting the business model.

3) Making a decision on the account

Based on the results of considering the application, the bank/EMI makes a decision on opening an account.

4) Support in signing the agreement

We organize:

• Signing banking agreements, acting as an intermediary between the client and the financial institution;
• Account activation;
• Connecting online banking, issuing cards, generating details.

Stage 5: Postoperative care

Opening an account is not the end. It is just the start of a new phase where Manimama becomes your back office when it comes to banking processes, document management, periodic checks and changes in the company.We do not abandon clients after opening an account – on the contrary, the key value is manifested at this stage.

After opening an account, we help you scale your financial instruments:

• Connecting acquiring;
• Issuing corporate cards;
• Adding additional accounts or currencies;
• Opening accounts in other payment systems.

Manimama Law Firm also prepares all the answers, cover letters, and documents. You don’t even communicate with the bank – everything goes through us.

As Conclusion

Opening a corporate account is more than a formality. It’s about trust, making the right choice, legal accuracy, and efficient interaction with the financial institution.

That’s why at Manimama Law Firm:

• We analyze your business;
• We submit documents to payment institutions;
• We communicate with them;
• We build relationships with the bank/EMI.

We don’t just open accounts – we open opportunities for your business!

Our contacts

If you want to become our client or partner, feel free to contact us at support@manimama.eu.

Or use our telegram @ManimamaBot and we will respond to your inquiry.

We also invite you to visit our website: https://manimama.eu/.

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Manimama Law Firm provides a gateway for the companies operating as the virtual asset wallet and exchange providers allowing to enter to the markets legally. We are ready to offer an appropriate support in obtaining a license with lower founding and operating costs. We offer KYC/AML launch, support in risk assessment, legal services, legal opinions, advice on general data protection provisions, contracts and all necessary legal and business tools to start business of virtual asset service provider.

The content of this article is intended to provide a general guide to the subject matter, not to be considered as a legal consultation.