Accounts in London

Opening the account

• Documents required: Articles of Association.
• Abstract from the Commercial Registry which includes information on the registration and, in particular, the business address.
• Original copy of the company's governing body agreement (PDF, 2 pages, 60 KB), which reflects the decision to open an account with Banco Sabadell (London), appoints the legal representatives for the account and states their powers.
• Declaration of Non-Residence (PDF, 1 page, 25 KB)
• Banking references document issued by the  Banco Sabadell   (Spain) branch where the company has an account.
• Original copy of two identification documents (with a photograph of each of the individuals authorised to operate the account (national ID card, passport, driving licence, etc.)
• Proof of residence from each of the signatories (electricity bill, telephone bill, etc.)
• Authorisation to handle orders (PDF, 2 pages, 98 KB) received by remote transmission

All documents must be presented in original to your Banco Herrero branch in Spain.

Collection of transfers

You should notify your client in the United Kingdom that the payment is to be made to your account in Banco Sabadell (London), indicating:

• the account number
• the Sort Code (or Banco Sabadell, London ID number)

The Sort Code is a six-figure code which is absolutely necessary for carrying out transfers within or to the United Kingdom.

To facilitate communication and prevent possible mistakes, you will receive labels with the Sort Code and your account number. You will be able to attach these to a pro-forma invoice or any other business document.

Depositing cheques

Procedure:

• The stamped addressed envelope should be attached to the invoice sent to the client.
• Once Banco Sabadell (London) receives the cheque (on the day after it is sent in the provided envelope), it will be deposited into your account. You will be able to view this amount immediately via Internet. On your account statement, the item "Post" will appear , together with the information indicated on the back of the cheque.
• When there is an unpaid amount, you will be notified within the three days necessary to collect.

Declaration obligations

Spain residents who have accounts abroad must notify the Bank of Spain of:

• The opening or cancellation of the account by means of Form DD1.
• Account activity by means of Form DD2:
  • Monthly, when the sum of payments and debits equals or exceeds 3 million euros
  • Annually, when that figure is not exceeded
  • Upon express request by the Bank of Spain, when the sum of payments and debits does not reach 600,000 euros

For the detailed characteristics and complete conditions of these statements, please contact  BS Online Enterprices  Banco Sabadell , where you may also request the above-mentioned forms.