Asphere, mybeautyrights, for the donation have to call first and they will pre-screen you like asks questions about medical history of you and hubby, family etc.. some short questions. Then if your pre-screen is okay, they will arrange appt for their staff meet you somewhere convenient for you. The meetup is quite fast .. less than half hr definitely, explain to you in mre detail and have you fill up the questionaire then sign the agreement.
And yes, they will take your blood for testing of infectious diseases etc. ^^ this one i no scared .. haha too used to needles :X
IMO, I will not go for private banking due to reasons mainly 1) the cost. 2)guarantee of success. Have read about cases where parents already signed up and paid but end up collection/storage was unsuccessful (this applies to donation as well, it is not guaranteed your donation cord blood will be successful until post-processing).