Account Reclaims | RBS International

Account reclaims

Reclaim funds from accounts closed due to compliance and regulatory requirements

Why was the account closed?

As part of our ongoing compliance and regulatory procedures, we are required to periodically review our records for all our corporate customers and ensure certain information that we hold is up to date. If we do not receive the relevant information within a certain period then we must close the account(s).

Funds from these account(s) are retained and may be reclaimed subject to completion of the Reclaim form together with a formal payment instruction from appropriately authorised representatives.

What do I need to do?

For corporate intermediaries

Please complete and return the following documents to DSD Reclaims, P.O. Box 87, Isle of Man, IM99 3HS.

 

  • a reclaim form (Sections 1, 2, 3, 4 and 5) (see Note 2)
  • for complex structures: a signed/dated copy of the corporate structure showing the relationship from the banked entity to the ultimate beneficial owner (individual)
  • for stand-alone companies: please confirm if there are no layers in the structure and the company is directly owned by the ultimate beneficial owner(s)
  • if the company/entity was incorporated outside one of our jurisdictions (Jersey, Guernsey, Isle of Man, Gibraltar, Luxembourg, United Kingdom), certified evidence of the Company/Entity  still in existence/of good standing
  • signed and dated payment instruction (see Note 1 and Note 2)

Note 1 - The beneficiary account of the reclaim payment has to be the same name as the account which was closed and quoted in Section 2 on the reclaim form.

Note 2 - The reclaim form and reclaim payment instruction should be authorised in accordance with the mandate held previously by the bank.  In the event that the authorised representative has changed, in addition to completing the Section 4 with details of the new Authorised representative(s), in line with the bank`s own anti-money laundering policy, also provide us with documents to verify a new person`s identity and residential address. 

The above list is not definitive. We may request additional information at our discretion.

For direct corporate customers

Please complete and return the following documents to DSD Reclaims, P.O. Box 87, Isle of Man, IM99 3HS. 

 

  • a reclaim form (Sections 1, 2, 3, 4 and 5) (see Note 2)
  • for complex structures: a signed/dated copy of the corporate structure showing the relationship from the banked entity to the ultimate beneficial owner (individual)
  • for stand-alone companies: please confirm if there are no layers in the structure and the company is directly owned by the ultimate beneficial owner(s)
  • if the company/entity was incorporated outside one of our jurisdictions (Jersey, Guernsey, Isle of Man, Gibraltar, Luxembourg, United Kingdom), certified evidence of the Company/Entity still in existence/of good standing
  • signed and dated payment instruction (see Note 1 and Note 2)

Note 1 - The beneficiary account of the reclaim payment has to be the same name as the account which was closed and quoted in Section 2 on the reclaim form.

Note 2 - The reclaim form and reclaim payment instruction should be authorised in accordance with the mandate held previously by the bank.  In the event that the authorised representative has changed, in addition to completing the Section 4 with details of the new Authorised representative(s), in line with the bank`s own anti-money laundering policy, also provide us with documents to verify a new person`s identity and residential address. 

The above list is not definitive. We may request additional information at our discretion.

For any additional business account holders

Please complete and return the following documents to DSD Reclaims, P.O. Box 87, Isle of Man, IM99 3HS. 

 

  • a reclaim form (Sections 1, 2, 3, 4 and 5) (see Note 2)
  • signed and dated payment instruction (see Note 1 and Note 2)

Note 1 - The beneficiary account of the reclaim payment has to be the same name as the account which was closed and quoted in Section 2 on the Reclaim form.

Note 2 - The reclaim form and reclaim payment instruction should be authorised in accordance with the mandate held previously by the bank.  In the event that the authorised representative has changed, in addition to completing the Section 4 with details of the new Authorised representative(s), in line with the bank`s own anti-money laundering policy, also provide us with documents to verify a new person`s identity and residential address. 

The above list is not definitive. We may request additional information at our discretion.

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