Once a Partner Bank has confirmed its interest to proceeding to publish rates on our Platform, the Partner Bank will need to execute 2 agreements - one with DepositBook and the other with the Custodian. On execution of the Agreements, the Custodian will be required to open a Fiduciary (Nominee) account with the Partner Bank in order to facilitate deposit placement on behalf of the Depositors. The timelines for this process are wholly dependent on the number of legal queries / discussions and could range between 2 weeks and 6 weeks.
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