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Requirements for Opening An Account

Individual

  • Primary and all joint account holders (if any) as well as any person(s) identified as giving instructions on the account if different from the holder(s) must complete and sign the following forms:
    • WISE Application Forms
    • FACTA Form
    • Certification of Tax Residency and Status Form
    • Third Party Statement
  • For the principal holder and each joint holder (if any) as well as any person(s) identified as giving instructions on the account if different from the holder(s) the following is required:
    • Copies of two (2) valid forms of government issued identification
    • Copy of a utility bill (with the exception of mobile bills) or bank statement less than three months old confirming residential address provided on the Application Form (Residents of Trinidad and Tobago only)
    • A referral letter from the individual's major banker (where individual resides outside of Trinidad and Tobago)

Local Trading Account

In addition to the above, the following is also required to open a local trading account:

  • Signed WISE Stockbroker's Agreement in duplicate (where individuals wish to invest in local equities)
  • Signed WISE Bond Agreement in duplicate (where individuals wish to invest in local fixed income)
  • Trinidad and Tobago Central Depository Dividend Mandate Form

Foreign Trading Account

In addition to the above, the following is also required to open a foreign trading account:

  • Signed Pershing New Account Forms
  • Signed W-8 BEN Foreign Tax Form for each account holder
  • Signed WISE Agency Agreement in duplicate

Disclaimer: Additional documents may also be required

 

Corporate

  • For Corporations the following forms must be completed and signed by the relevant account opening authorities:
    • WISE Investor Application Form
    • FATCA Form
    • Certification of Tax Residency and Status Form
    • Third Party Statement
    • W-8BEN-E Form
  • Completed and signed WISE Investor Application Form including full names, date of birth, identification, country of birth, country of citizenship and occupation/profession of all Directors and Authorised Signatories  
  • Copies of two (2) valid forms of government issued identification for all Directors and Officers of the Company, shareholders who hold greater than 10% of the paid up capital and Authorized Signatories.  Additionally we also require a utility bill (with the exception of mobile bills) or bank statement less than three months old confirming residential address provided on the Application Form (Residents of Trinidad and Tobago only) for each Authorized Signatory.
  • List of Directors
  • List of Authorized Signatories together with specimen signature
  • Certificate of Incorporation, Continuance and Articles of Association (duly notarized where such body is incorporated outside the Jurisdiction)
  • The most recent (no later than the previous year's) annual return filed with the Registrar, (duly notarized where such corporate body is incorporated outside of the Jurisdiction)
  • The name/s and address/es of the beneficial owner/s and/or the person/s on whose instructions the signatories to the account are empowered to act
  • Company By-Laws
  • Board resolution sanctioning the opening of the account and conferring authority on the signatories to the account
  • Copies of Powers of Attorney or other authorities given by the Directors in relation to the company
  • A signed Director's statement as to the nature of the company's business
  • Audited or Management accounts for the previous three years (where applicable)
  • A referral letter from the entity's major banker (where the entity resides outside of Trinidad and Tobago)

Local Trading Account

In addition to the above, the following is also required to open a local trading account:

  • Signed WISE Stockbroker's Agreement in duplicate (where corporations wish to invest in local equities)
  • Signed WISE Bond Agreement in duplicate (where corporations wish to invest in local fixed income)

International Trading Account

In addition to the above, the following is also required to open a foreign trading account:

  • Signed Pershing New Account Form including Corporate/Business ID Number, Country and Formation date
  • Pershing Corporate Resolution Form conferring authority on the signatories to the account. The Secretary executing this certificate cannot be one of those authorized to act. If an authorized officer is also the Company Secretary, a notarized statement to that effect must be added to the Form.
  • Signed WISE Agency Agreement in duplicate

Disclaimer: Additional documents may also be required

WISE Local Equity Commission Schedule

All Sales Charges are quoted in TT Dollars and subject to change at any time

Transaction AmountCommission Rate
Minimum Charge $175.00 per trade
$0 to $50,0001.50% per trade
$50,001 to $100,0001.25% per trade
$100,001 & over1.00% per trade

Trinidad and Tobago Stock Exchange Fees

Transaction Charge0.18% per trade or minimum $1.80

Trinidad and Tobago Central Depository Fees

Pledges 0.03% of current market value of the share as at the date the pledge was signed or minimum $100.00 payable by both the pledger and the pledgee
Transfers (Other than Pension Plans & Nominee Accounts)$20.00 per company
Deposits$20.00 per company
Withdrawals$20.00 per company

WISE International Commission Schedule

All Sales Charges are quoted in US Dollars and subject to change at any time

US STOCKS

Listed, OTC, ETFs
Transaction AmountCommission Rate
$0 to $8,000$22 + 1.50%
$8,001 to $16,000$22 + 1.25%
Over $16,000$22 + 1.00%

Effective Aug 7, 2017 our new commission rate would be as follows:

Transaction Amount Commission Rate
$0 - $100,000 $30 + 0.75%
> $100,000 $30 + 0.50%

ANNUAL ACCOUNT MAINTENANCE FEE (effective Aug 7, 2017)

Client Holdings (USD) Annual Flat fee (USD)
< 10M 40
10M - 100M 60
100M - 500M 80
500M - 1MM 100
> 1MM 120

OTHER CHARGES

Opening new accounts for estate beneficiaries TTD $200.00 per account

Transfers

Wired Funds $10.00 per wire transfer
Overnight Cheque Delivery $25.00 per cheque
Legal, GNMA and Restricted Items $60.00 per transfer
Outgoing ACATs $65.00 per transfer
Accommodation Transfer$60.00 per transfer
Register & Ship Physical Certificate $60.00 per transfer
Direct Registration$15.00 per transfer

If you would like to receive the required forms to open an account please contact one of our Managers — Retail Sales — from the list below at 628-WISE (9473).

Port of Spain (Head Office)
Natasha Ramlal (natasha.ramlal@rbc.com) — Extension 81012
Ryan Coonai (ryan.coonai@rbc.com) — Extension 81015
Cassi Mc Kie (cassi.mckie@rbc.com) — Extension 81013


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