Bank Introductions

The Octopus Group has since 1999 enjoyed special relationships with many banks around the world.

As approved introducers we are able to pre-vet client’s applications, with a view to place them with the most appropriate bank for their business model.

However, most business people, who have been trading internationally, will know that there have been many changes in the banking industry since the early 2000’s, with stricter compliance and “Know Your Customer” rulings.

Furthermore, the recent Automatic Exchange of Information rulings for bank in jurisdictions under the Common Reporting Standard, has provided further worries and problems for people wishing to bank offshore.

In addition to the AEOI, many international private banks are now refusing to take American clients or clients that have any dealings with America – this is causing a problem for businesses who have had good banking relationships for years, but now find themselves facing closure – all because of the US FATCA rulings.

Times are changing, almost daily, and getting a bank approval is more and more difficult.

However 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.

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 our clients, who prefer the single point of contact. This helps to keep the flow of information running smoothly, alleviating the stress for our clients wherever possible.

Our File Managers are also able to advise if a clients business model does not tick the right boxes for the bank they may have chosen from our list of options – and offer alternatives.

With our clients input and our File Managers experience, the majority of applications go off to the banks within 24 hours of our team receiving everything back from the client. The banks response time then varies from bank to bank, but on average, an application that is detailed, low to average risk, and has all the required paperwork, is currently taking approx. 2 to 6 weeks for approval by the banks compliance teams…. Some faster than others.

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.

All of these banks offer multi-currency accounts, secure internet banking, telephone banking and of course a choice of cards to use around the world.

Please give us a ring to discuss the options on offer 00350 200 77779 or email for more information