Frequently
Asked
Questions
FAQ
CAN I APPLY FOR A BANK ACCOUNT AND GET APPROVED ONLINE?
All bank account applications are submitted and approved online. Personal visits to the Bank’s headquarters or any of the Bank’s representative offices located around the world are always welcome, but not required.
Powered by advanced technology: The award-winning Hamilton Reserve Bank has an automated, online, and fully compliant client onboarding process powered by the latest facial recognition technology in partnership with Temenos, the world’s largest core banking software that delivers 100% identity confirmation by matching an applicant’s passport with a selfie taken during the application. Apply here to open personal and business bank accounts fast.
Approved clients are contacted by the Bank’s private banking and commercial banking officers. Clients with a minimum account balance of US$1 million are assigned private bankers that offer highly personalized and convenient white glove service.
HOW DO I MAKE A DEPOSIT WITH THE BANK? IS THERE A MINIMUM INITIAL DEPOSIT AMOUNT?
The Bank accepts and processes customer deposits and payments from around the world in 126 different currencies via SWIFT (SWIFT code: NIBTKNNE), ABA, ACH, Fedwire (USD) and SEPA. The Bank does not accept physical cash as deposits, see our bank wire transfer instructions.
NO account application fees, NO monthly or annual account maintenance fees, and NO minimum balance fees.
The Bank opens 3 types of bank accounts:(1) Personal Account.
The minimum initial deposit: US$50,000.(2) Private Banking Account.
Private banking clients are assigned dedicated private bankers offering personal services 24/7. Any account that exceeds the minimum deposit of US$1,000,000 can become a private banking account.(3) Business Account:
Applicable to all types of entities formed in many jurisdictions worldwide (Corporations, LLCs, LLPs, Foundations, Trusts, Partnerships, SPACs, etc.). All business account applications use the same business account application form. The minimum initial deposit: US$100,000.NO account application fees, NO monthly or annual account maintenance fees, and NO minimum balance fees.CAN I TRANSFER MY EXISTING INVESTMENT PORTFOLIO TO THE BANK?
Bank clients can transfer their existing portfolios in stocks, bonds, mutual funds, private equity or other financial assets to the Bank through our collaboration with The Bank of New York Mellon (BNY), which is the world’s largest custody bank holding more than US $50 trillion in assets. A Hamilton Reserve Bank client can view both deposit balances and investment portfolios 24/7.
HOW LONG DOES IT TAKE TO OPEN A BANK ACCOUNT ONLINE?
Personal bank account: An application for a personal bank account can be approved in as little as 20 minutes. A new customer can immediately transact with the Bank by making a wire deposit. Apply for a personal bank account here.
Business bank account: It takes from a few hours to a few days for the Bank to process a business bank account application submitted online with supporting documents. A checklist for a business account is here.
Hamilton Reserve Bank currently serves a large and rapidly expanding global clientele of individuals, family offices, and business customers. Many of the Bank’s customers have multiple personal and business accounts.
WHAT ARE THE BANK’S COMPLIANCE REQUIREMENTS FOR CLIENT BACKGROUND CHECKS?
The Bank broadly collaborates with industry leaders such as Kroll Inc., Refinitiv World-Check and LexisNexis WorldCompliance to conduct routine client background checks during new client onboarding and ongoing account reviews. The Bank pays such service providers significant upfront fees to pre-qualify each account applicant.
COMPARED TO BANKS IN SWITZERLAND, SINGAPORE, OR LIECHTENSTEIN, WHAT ARE THE BANK’S FEES AND CLIENT SERVICE STANDARDS?
Powered by the latest Temenos core banking technology, Hamilton Reserve Bank has no account application fee, no monthly account fee, no quarterly account fee, no annual account fee, and no minimum balance fee. The Bank charges a one-time, third-party due diligence fee only after a client account is approved and opened. If an account application is denied for any reason, there is no charge whatsoever to the applicant.
Compared to banks in Switzerland, Singapore, or Liechtenstein, Hamilton Reserve Bank’s services are delivered much faster (fully automated onboarding and wire transfers are self-directed 24/7 by a customer), much more attentive (efficient and hassle-free), transparent, confidential, compliant, and much less expensive. The Bank’s standard fee schedule is immediately available to approved clients. Experience the remarkable service quality at Hamilton Reserve Bank and see the difference from a higher standard.
HOW DOES THE BANK TREAT A CLIENT’S CONFIDENTIAL INFORMATION?
By law, the Bank is required to protect customer privacy. The Bank maintains strict confidentiality for all relationships with the Bank. Banking with Hamilton Reserve Bank is efficient, competent, confidential, compliant, dependable, and secure.
WHY DO PEOPLE FROM AROUND THE WORLD OPEN BANK ACCOUNTS WITH HAMILTON RESERVE BANK?
Hamilton Reserve Bank has both personal and business customers from around the globe and serves some of the world’s most successful families, businesses, and individuals. Our customers seek efficient, modern, dependable, confidential, and hassle-free banking services offered through a strong, fully compliant, and reputable global bank operating at the “speed of Wall Street.” To put it simply, Hamilton Reserve Bank delivers results for its customers and earns their trust every single day.
CAN THE BANK HELP ME REGISTER A NEW COMPANY AND OPEN A BANK ACCOUNT AT THE SAME TIME?
Through the Bank’s long working relationship with AAA Global Incorporation and Trust Inc., a government-licensed registered agent and trust company for over 30 years. The Bank assists businesses and individuals in forming new entities in Nevis or other jurisdictions worldwide. The typical entity types are Corporation, LLC, Trust, and Foundation. The Bank can open a business bank account for a newly registered entity on the same day of formation. Register a new entity here in total privacy and then apply for a business bank account here.
CAN YOU DESCRIBE THE BANK’S DEPOSIT AND WITHDRAWAL PROCESS?
Banking with Hamilton Reserve Bank is simple: Wire transfers are self-directed online by a customer 24/7 in a secure login environment. The Bank executes wire requests via SWIFT, Fedwire (USD), and other electronic payment rails. Please visit the Bank’s website for wire transfer instructions.
Making a customer deposit is simple: The Bank accepts incoming wires in multiple currencies from more than 150 countries. In general, an incoming wire takes less than 2 business days to credit a customer’s account. Customers have 24/7 real-time access to online banking.
Making a customer withdrawal is simple: Customer wires are self-directed online by a customer through the Bank’s secure online portal. Bank officers may request supporting documents such as payment invoices or other information relating to an outgoing wire.
WHAT ARE HAMILTON RESERVE BANK’S COMPLIANCE POLICIES AND PROCEDURES?
Risk mitigation and compliance through advanced Temenos technology: Like other leading banks, Hamilton Reserve Bank collaborates with global compliance experts such as Refinitiv, LexisNexis, and Kroll. The Bank utilizes Straight Through Processing (STP) for customer onboarding and transaction monitoring powered by Temenos, the world’s largest core banking software that runs 80% of the world’s largest banks. Hamilton Reserve Bank has won many technology awards recognizing its advanced and real-time compliance, and risk mitigation capabilities. The Bank has a robust global risk/compliance program meeting stringent BSA/AML/KYC/KYCC requirements.
A pristine compliance history: Hamilton Reserve Bank has never been the subject of regulatory sanctions for compliance violations of any sort around the globe. The Bank maintains a pristine compliance record. Such extraordinary achievements require staff dedication and many millions of USD in investments into the latest financial technology to stay well ahead of dynamic global risk.
The Bank’s robust BSA/AML/KYC compliance starts with biometric verification with 100% accurate customer identity confirmation: During customer onboarding, the Bank requires all applicants to meet identity confirmation through facial recognition technology, matching one’s live selfie image with a valid passport. If an account has multiple authorized signers, each signer must be biometrically verified as well. The Bank also performs real-time activity monitoring to ensure ongoing compliance. An alert triggered during a background scan automatically initiates a multi-step review process led by the Bank’s internal and external risk and compliance team.
A well-trained risk and legal compliance team: The Bank has a large risk and compliance staff able to execute multiple levels of compliance responsibilities, escalating concerned matters to the Bank’s Compliance Committee.
A fully regulated bank subject to rigorous oversight: The Bank is subject to rigorous regulatory oversight. The Bank strictly adheres to high compliance standards continuously endeavoring to meet or surpass a ‘best practices’ approach as measured against leading banking jurisdictions around the globe.
Finally, the Bank cannot and has not conducted business with any countries or individuals subject to U.S., E.U., or UN Sanctions, as well as other applicable sanctions lists. By law, the Bank cannot open bank accounts for residents of Venezuela, Cuba, Iran, North Korea, Myanmar, and certain other jurisdictions sanctioned under the above global sanctions frameworks. Please review the Bank’s global compliance policies for greater details.
WHAT ARE THE BANK'S POLICIES RELATING TO CLIENT DEPOSIT SAFETY?
The Bank was established on a simple business model: No cash, no loans, and no client lending. As a cash reserve bank, 100% of the Bank’s client deposits are held in cash or government bonds to ensure deposit safety and liquidity at all times.
CAN I PROCESS INTERNAL ACCOUNT TRANSFERS?
Internal account transfers are among the most popular account features regularly utilized by our customers. Transferring funds among related accounts under common control are customer self-directed and executed in real-time in a secure login environment. It is fast and simple: Internal account transfers are completed immediately online. For example, available funds in a personal account can be transferred in whole or in part to a business account, or vice versa, so long as both accounts (or multiple accounts) are under common control.
HOW DO I SEND A WIRE PAYMENT ONLINE? CAN I SEND MULTIPLE, RECURRING WIRES EVERY MONTH?
All outgoing wires are self-directed online by a customer in a secure login environment. Our bankers may contact a customer to verify authorization credentials before final processing. Invoices in support of outgoing wires are required. Approved wires can be immediately viewed online 24/7. The Bank’s “Bulk Payment” feature is available for recurring payments to the customer or third party such as processing vendor payments or recurring staff payrolls.
WHAT ARE THE BANK’S CLIENT DEPOSIT CURRENCIES?
Please review the Bank’s Wire Transfer Instructions for regularly updated information.