Step 1

• Product Disclosure Statement
• Account Features and Charges

Step 2

Print two forms:

Step 3

You need to complete and sign an Application For Account form.

a. For Company accounts:

I. The Application For Account must be completed and signed by:

• A minimum of two directors, except in the case of sole directorships; or,
• One director and the company secretary;
• Note: Ensure the field “Type of Business Activity” is filled in. This refers to the nature of business you are in.

II. Identification

• The directors must have their identity verified through Australia Post;
• Where the non-director shareholder holds a 25.1% or more of the company shares (if any), the identity of the non-director shareholder must be verified through Australia Post.
• Where the shareholder is a company that holds a 25.1% or more shareholding, the identity of any individual shareholder who holds 25.1% or more shareholding of that company must be verified through Australia Post.

III. Supporting documents

Along with your complete and signed Application For Account form, you must provide Arab Bank Australia with the following documents:

• A recent Australian account bank statement, no less than 3 months old in the same name of the account to be opened;
• A certificate of registration of business name, if you are opening an account in the business name;
• A copy of the identification documents that you will use to help us verify the identity of your director(s) and your non-director shareholder(s) holding 25.1% or more of the company shares (if any).

b. For self managed superannuation funds:

I. The Application For Account must be completed by:

When the Trustee is a company:

• A minimum of two directors, except in the case of sole directorships; or,
• One director and the company secretary;
• Note: Ensure the field “Type of Business Activity” is filled in. This refers to the nature of business you are in.

When Trustee(s) are individuals:

• by all trustee(s)

II. Identification

• The directors / all trustees must have their identity verified through Australia Post;
• Where the non-director shareholder holds a 25.1% or more of the company shares (if any), the identity of the non-director shareholder must be verified through Australia Post.
• Where the shareholder is a company that holds a 25.1% or more shareholding, the identity of any individual shareholder who holds 25.1% or more shareholding of that company must be verified through Australia Post.

III. Supporting documents:

Along with your completed and signed Application For Account form, you must provide Arab Bank Australia with the following documents:

• A copy of the trust deed certified by your accountant or solicitor “as a true copy of original”; or,
• A letter from your accountant or solicitor on their firm letterhead addressed to Arab Bank Australia certifying:

1. that the solicitor or accountant has sighted the original of the trust deed; and,
2. that the trust appears to be validly created; and,
3. that the description and particulars of the trust set out in the letter is correct.
4. The letter must contain:

• The name of the trust
• Identification of the trust deed by date
• The full name and address of the trustee (s) and
• The full names and residential address of all beneficiaries/members of the trust
  
  
• A recent Australian account bank statement, no less than 3 months old to be provided and must be in the same name of the account to be opened.

Step 4

Complete the forms using a black pen.

Please do not sign the Identity Verification Form at this stage (refer to Step 6). 

Step 5

Each director, non-director shareholder (if applicable) or trustee must take the Identity Verification Form along with their original identification documents to the nearest Australia Post outlet so that their identity can be verified. To find the nearest participating outlet, please call 13 13 18 or go to auspost.com.au/pol and select Bank@Post. 

Step 6

Sign the identity verification form in the presence of an Australia Post officer. Then place the photocopy of the identification documents provided to Australia Post together with the Application For Account form and other required documents in an envelope and post to:

Reply Paid 645

Arab Bank Australia Limited IBC

GROSVENOR PLACE NSW 1219

The Identity Verification Form will be forwarded by Australia Post to Arab Bank Australia so that the Application For Account can be processed.

How to certify a document

To certify a copy of the identification document to be a true copy of the original document. On the copied document, complete the following:

1. Write these words: “I hereby certify this document is a true copy of the original document shown to me on [date]”
2. Sign the copy document
3. Provide Name and Certifier Classification
4. Provide a business or residential address
5. Provide a contact number

Note

When you apply for Internet Banking, we will also send you an advice notifying you of your Internet ID so that you can log in and use the Internet Banking service. Once you receive this letter, you will need to contact us on the number provided so that we can provide you with a temporary password and walk you through the Internet Banking activation process. Please note for security purposes, you will need the security codeword you nominated on the Internet Banking section of the application form.

What Next?

Once we receive the forms and subject to fulfilling Arab Bank Australia’s requirements, we will process the account opening application. You will receive a letter confirming the account details and you will be advised on how to make the initial payment.

Please note that sometimes we may require additional information other than the documents you have sent to us and we may not be able to progress your application or may need to place a stop on the account until all required information have been provided and found to our satisfaction.

Your account could take up to 7 days to open, depending on how long it takes us to receive your documents.

Please don’t hesitate to contact us on 1800 27 22 22 weekdays between 9:00 am and 5:00 pm if you have any questions.