A Business Account is tailored for companies and entrepreneurs to efficiently manage their financial operations. It's perfect for handling business transactions, paying for business services, receiving payments from clients, and grow your savings.
Here’s how to open your Business Account with ORO Bank:
What you'll need
Your company or business is registered in one of our supported locations. View supported locations here.
Required documents:
Company identity documents: Certificate of corporation, Articles & Memorandum of association, and Shareholder registry.
Identity document and Proof of Address for the company’s UBO (Ultimate Beneficial Owner) and shareholders. If there is no UBO, provide documents for the individual who controls or manages the company, such as the CEO or director.
Overall steps
Sign up
Verify company identity
Activate Two-factor Authentication
Manage access: Choose if you want to manage your business account by a single person or with a team
Open a Full Reserve Account
1. Sign up
First, visit ORO Bank web app or download ORO Bank app from the App Store or Play Store.
Sign up with Google or enter your email address.
We recommend using your Google account for a more convenient experience.
2. Verify company identity
Go to Business account tab. Click Verify identity .
Verification process starts 👇
2.1 Provide company data
Fill in company info: Name, Registered country, Registration number, Legal address
Upload company's documents: Certificate of corporation, Articles & Memorandum of association, and Shareholder registry.
2.2 Provide information of the UBO
UBOs (Ultimate Beneficial Owner) is person who hold 25% or more of your company.
If there is no UBO, please collect information on a person who controls or manages the company (e.g., CEO, general manager)
Specify the UBO’s position and fill in all the required fields: Full name, Email, Date of birth, and Contact number.
Verify UBO's identity. There are 2 options to do that:
You–the person who conducts the KYB can verify on behalf of the UBO: Click 'Start verification now'
Alternatively, the UBOs will verify themselves via email you send: Click 'Send link via email' or 'Copy link'
After entering UBO's info, click Add Participant then Next . You will be redirected to the Shareholders screen.
2.3 Provide data about Shareholders
The Shareholders screen includes forms Individual and Company. The Individual form is similar to that of the UBO’s form. You can provide data and pass/share the check in the same way. If you need to fill in the Company form, follow the steps below.
Provide information about the company: enter all the required data — such as the Company name, Registration number, Country, Percentage of ownership, and Company email.
Pass identity verification for the Shareholders. You have two options: click Start verification flow and a window with the check will open in a new tab. Alternatively, you may Send a verification link via email or Copy the link.
Click Add participant.
Change the provided data or add Shareholders if needed.
2.4 Questionnaire on Corporate Account
We will need additional info about your company, such as email, tax residency, tax identification number, purpose of the account opening, etc.
2.5 Check the provided data
Please make sure that everything is correct. Edit information if needed and click Submit.
2.6 Wait for the review
You will receive at every status of the review process. Alternatively, check for progress on the website or app.
An applicant may be resubmitted for a few main reasons:
Incorrect information has been entered. Edit the company data.
Some beneficiaries are not specified. Add all the required members of the company.
Documents don't meet the requirements or weren't uploaded. Upload documents according to the requirements.
3. Activate Two-factor Authentication
Learn more: How to Activate Two-factor Authentication
4. Manage access
We offer two options for business users to manage their account access:
Single-user:
Ideal for companies where one person handles the bank account.
Only one user has full control over the account and its operations.
Multi-user:
Best for companies with multiple people managing the bank account
This option includes a maker-checker process* with three roles:
Admin: Can initiate transfers, invite team members, and manage roles.
Supervisor: Reviews transfers initiated by Admin or Members.
Member: Can initiate transfers
Once a business account is set to Multi-User, it cannot switch back to Single-User. However, a Single-User account can upgrade to Multi-User access—this feature is coming soon!
If you select Single-User, you can proceed to the next step–Open Full Reserve account.
If you select Multi-User, you’ll be redirected to Invite Members. To get the account up and running, you’ll need to invite at least one Supervisor.
5. Open Full Reserve account
Click Open Full Reserve account
Select currency
Give your account a nickname
*The maker-checker process is a security mechanism used in banking to prevent errors and fraud by requiring at least two people to complete certain transactions. One person (the maker) initiates the transaction, and another person (the checker) reviews and approves it before it is processed. This ensures that no single individual has full control over critical operations, providing accountability and minimizing risks.
💡 Need more help?
Get support from our team via Chat or email us at support.oro.bank