Frequently Asked Questions - Opening an Account

Opening a VMBS account is easy and you may start the process by applying online. Here are answers to some frequently asked questions.

Can I open an account online?

You cannot completely open an account online. But it is possible at VMBS to fill out an application and begin the process so that when you are invited to complete the process in one of our branches it will take much less time.

How many forms of identification do I need?

You only need one approved ID to complete your application. It is important to visit our 'open an account' page to ensure you have everything you need when you visit our offices to complete your application

Do I really need to disclose and present source of funds document?

Yes, based on regulatory guidelines applicable to financial institutions, declaration of source of funds is required. Physical proof may also be required, but will be dependent on the amount.

How many references do I need?

Any two references, refer to list of authorized references

Do I need to present a Tax Payers Identification card?

Yes. The TIC includes; TRN, SSN and NI

My ID expired two months ago; can this still be used to open an account?

No, ID?s must be current and valid.

Do I need to provide reference and proof of address for a minor?

No, however the reference for the adult must state the relationship of the adult to the minor.


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