What is source of funds?

When prompted, please explain where the money has come from including the bank, country and name of the account sending the money. Use the guidance notes and example below to help you give us the right information to prevent any delay in opening your account.

Guidance:

  • Please explain where the initial money that will credit this account will come from,  including expected amount (Salary / Regular income from.../ Bonus from.../ Pension from.../ Sale of property / Inheritance / Sale of investments or shares/ Insurance pay out in relation to.../ Winnings from lottery etc);
  • If the first transfer is a cheque or electronic transfer, please provide the bank(s) and the remitting/senders account details from where the money is coming from;
  • If depositing cash,  please explain why the amount of cash is being deposited and where the cash was sourced from;
  • If the money is being transferred from an account not in your name, please explain the relationship.

Example:

The initial transfer will be (£X amount) which will be transferred from ( X Bank  in X Country ) from an account in the name of ( X Name)  and the expected ongoing source of money will be from my monthly salary from ABC Ltd (£X amount).