Offshore Bank Accounts
Do I get a refund if I paid for the bank introduction, but the bank turned me down?
No. The bank account introduction fee does not guarantee the opening of the offshore bank account. It is a service fee, for the Registered Agent`s best efforts to assist during the account opening procedure. But the end-decision is with the bank, therefore nothing is guaranteed.
The success of an offshore bank account opening mainly depends on the particulars of the beneficial owner, his background and his business. This information is provided to the bank by the client himself, not by the Registered Agent. In essence, the bank will attempt to determine how safe and valuable the potential client is for the bank. Is the new applicant worth accepting, or is he only going to be a trouble? On these considerations, banks do sometimes reject new offshore account applications. Prior to the bank application, the best we can do is provide an "educated guess", estimating the potential success or failure, based on our knowledge of similar earlier applications. The end decision, however, will always be with the bankers!