Account opening process with IMD is easy and requires only a few key documents to begin with. Some documents such as below are mandatory:
- Proof of a Bank Account: A bank letter duly signed by an authorized representative proving you have an active checking/saving account, or a voided check in lieu of a letter.
- Proof of Company Registration: As a proof of legal status of the company, an IRS letter or EIN (Employer Identification Number) or a Tax ID number, can be provided.
- Credit Card Processing Statements: This applies to businesses that currently accept credit card payments. If you are one such business, then please provide statements from at least past 3 months as a proof, and ifyou have processed or are required to process amounts greater than a $1000, statements/invoices showing such transactions will be required.
Besides the above, our team of underwriters may request additional documents to assess future prospects and to make sure risk requirement parameters are met. Asking additional documents is not very common, but requirements differ from case to case and our underwriters will reach out for additional proofs such as tax documents, financial statements, business contracts, etc. as needed.
