Prime Bank, established in 1992, has grown to be one of Kenya’s leading private banks, providing personalized financial services with a focus on compliance, growth, and shareholder value. Whether you’re looking to open an individual account, corporate account, or an account for a trust, club, or association, Prime Bank offers tailored options to meet the diverse needs of its clients.
In this article, we’ll explore the specific requirements needed to open an account with Prime Bank in Kenya.
Prime Bank Account Opening Requirements
(a) Individual Account
Opening an individual account with Prime Bank is a straightforward process. The following documents are required:
- Identification: Copies of valid ID or passport for all applicants.
- Photos: Two recent colored passport-size photographs of each individual.
- Birth Certificate: A copy is needed for minors opening an account.
- Work Permit: Applicable for foreign nationals residing in Kenya.
- PIN Certificate: A copy of the Personal Identification Number (PIN) certificate for all applicants.
- Proof of Residence: Documentary evidence such as a utility bill, telephone bill, lease agreement, or tax return.
- Annexure A: This form is required for accounts held by more than one individual.
By submitting these documents, individuals can easily open a Prime Bank account, providing them access to various financial services and products.
(b) Corporate Accounts
Prime Bank offers different corporate account options depending on the type of business entity. Below are the requirements for different categories of corporate accounts:
(i) Sole Proprietorship
For sole proprietors, the following documents are required to open an account:
- ID or Passport: Copy of a valid ID or passport of the proprietor.
- Photos: One recent colored passport-size photo of the proprietor.
- Business Registration: A copy of the business name registration certificate.
- Annexure B: Sole Proprietorship Declaration form.
- PIN Certificate: Copy of the PIN certificate for both the firm and proprietor.
- Proof of Residence: Utility bill, telephone bill, lease agreement, or tax returns.
(ii) Partnership
For partnership businesses, the following documents are required:
- Identification: Copies of valid IDs or passports for all partners.
- Photos: One recent colored passport-size photograph for each partner.
- Business Registration: A copy of the business name registration certificate.
- Annexure C: Partnership Declaration form.
- PIN Certificate: Copy of the PIN certificate for both the firm and partners.
- Proof of Residence: Utility bill for the firm.
(iii) Limited Company
For limited companies, the account opening requirements include:
- Identification: Copies of valid IDs or passports for directors or signatories.
- Photos: One recent colored passport-size photograph for each signatory.
- Company Documents:
- Copy of the certificate of incorporation.
- Copy of the memorandum and articles of association.
- List of current directors and shareholders, duly certified by the company secretary.
- Annexure D: Board Resolutions form.
- PIN Certificate: Copy of the PIN certificate for both the company and directors/signatories.
(iv) Trusts, Clubs, Associations, and NGOs
For non-profit organizations such as trusts, clubs, associations, and NGOs, the following documents are needed:
- Identification: Copies of valid IDs or passports for all signatories.
- Photos: One recent colored passport-size photo for each signatory.
- Registration: A copy of the certificate of registration.
- Governing Documents: Copy of the by-laws, trust deed, or constitution of the organization.
- Committee Information: List of the managing committee members, certified by the secretary.
- Tax Exemption Certificate: Applicable if the organization is exempt from income tax.
- Annexure E: Resolution of the trust, club, association, or NGO.
- Trust Documentation: Copy of the trust of trustees or office bearers.
Why Choose Prime Bank?
Prime Bank’s commitment to personalized financial services and its wide range of account options make it an ideal choice for individuals, businesses, and organizations. With competitive offerings in savings, deposits, and investment services, Prime Bank provides the flexibility and convenience necessary for clients looking to manage their finances efficiently.
Prime Bank Contacts
For more information or to begin the account opening process, contact Prime Bank through the following channels:
- Phone: +254 111 006 000 / +254 719 090 000
- Website: Prime Bank Website
Prime Bank’s clear and structured account opening requirements make it easy for individuals, corporates, and organizations to start banking with one of Kenya’s most reputable financial institutions. With a customer-centric approach, Prime Bank ensures that the account opening process is seamless and efficient, allowing customers to access top-notch financial services.
