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How to open a bank account in ABLV Bank AS (Aizkraukles Banka)

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13 февраля в СМИ появилась информация о том, что Комиссия по расследованию финансовых преступлений США (FinCEN) проанализировала деятельность банка и предложила ведомству включить латвийский ABLV Bank в перечень банков, подозреваемых в отмывании денежных средств. 
19 февраля ABLV Bank разместил на своем сайте информацию о том, что в настоящее время установлены ограничения на платежи.
23 февраля ABLV Bank получил решение совета Комиссии рынка финансов и капитала (КРФК) «О наступлении недоступности вкладов».
24 февраля Европейский центральный банк (ЕЦБ) объявил ликвидацию латвийского банка ABLV, обвиняемого в отмывании денег.

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    Bank's characteristics

    General information and rating

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    Global rating Countrywide rating Countrywide rating of the head bank Global rating of the head bank Credit rating
    1 940 3 N/R
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    Year of foundation 1993
    History The bank was founded in 1993 on the basis of the Bank of Latvia regional branch in the city of Aizkraukle, hence the original name "Aizkraukles Banka". In the following years, the bank actively worked in the field of providing services to foreign customers. Offering them various bank products, mainly related to making payments, the bank became a notable player in the financial market. The bank was one of the first in Latvia to start development of various remote service channels, thus improving service level and ensuring rapid growth. In 2011, the bank’s name was changed to ABLV Bank, AS. Today ABLV Bank, AS is the largest independent private bank in Latvia, having representative offices of the Group in many CIS countries: Russia (Moscow, Saint Petersburg, Ekaterinburg, Vladivostok), Ukraine (Kiev, Odessa), Belarus (Minsk), Uzbekistan (Tashkent), Azerbaijan (Baku), Kazakhstan (Almaty), Tajikistan (Dushanbe). ABLV Group includes ABLV Bank, AS and more than 20 subsidiaries. Most significant among them are companies that provide brokerage and investment services, private investment fund, and advisory companies
    Personnel The bank currently employs more than 650 staff, all of whom speak Russian. Service at ABLV Bank is provided by highly qualified experienced private bankers who involve various specialists of the bank where necessary. The team of private bankers is the largest and strongest in Latvia. Each client has their own group of managers: three private bankers. This team is always up-to-date with the client’s affairs even if one of the private bankers is away. The task of the private bankers is to offer a solution which is best suited and effective for a specific case, engaging, if necessary, other specialists such as brokers, dealers, lawyers, and credit managers
    Bank’s shareholders Olegs Fils - 42,95%; Ernests Bernis and Nika Berne - 42,95%
    Confidentiality Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; AML legislation is strictly observed

    Minimum requirements

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    Minimum balance, € Transactions permitted per month Initial deposit of funds, € Deadline for the initial deposit, month Minimum turnover, €/year
    0 No restrictions No restrictions
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    Transactions permitted per month As the bank holds itself out as universal (which includes commercial as well), it sets no limits for the number of transactions
    Initial deposit of funds, € There is no initial deposit
    Minimum turnover, €/year There is no minimum turnover requirement
    How fast payments are executed USD: standard payment instruction – value date is the following day; urgent payment instruction – value date is same day, cut-off time is 17:00 MSC; express payment instruction – value date is same day, with priority, cut-off time is 19:30 MSC. ЕUR: standard payment instruction – value date is the following day; urgent payment instruction – value date is same day, cut-off time is 16:00 MSC; express payment instruction – value date is same day, with priority, cut-off time is 17:00 MSC

    Tariffs and services

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    Outcoming transfer, € Incoming transfer, € Account maintenance, €/year Payment limit for credit cards, €/day Funds to be blocked for CC issue, €
    15 0 240 1 500 0
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    Outcoming transfer, € USD: standard payment instruction – USD 40; urgent payment instruction – USD 60; express payment instruction – USD 80. EUR: standard payment instruction – EUR 15; urgent payment instruction – EUR 30; express payment instruction – EUR 50
    Incoming transfer, € Funds are credited in all currencies free of charge
    Account maintenance, €/year Current account maintenance (monthly) – EUR 20. Notifications of transactions in the current account (by SMS or e-mail) are free of charge
    Payment limit for credit cards, €/day The limit on cash withdrawal from ATMs is EUR 1 500, USD 2 000 / GBP 1 300 / RUB 60 000. Clients can set a limit according to their spending needs
    Distant access to the account The account is operated via internet banking, with the use of code cards or a digipass
    Financial products The bank offers a great variety of most in-demand products and services: current accounts; transfers and currency exchange; savings accounts and deposits; payment cards; trade finance; investment products; consulting
    Credit/debit cards Mastercard/Visa Electron - EUR 30; Mastercard/Visa Classic/Business - EUR 50; Mastercard/Visa Gold/Gold Business - EUR 100; Visa Platinum - EUR 300; Visa Infinite - EUR 700

    Account opening procedure

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    Days to open for incoming transfers Days to open for outcoming transfers References Business description Purpose of the account
    7 7 Not necessary Detailed Current
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    Visit to the bank Not required (a bank account can be opened at GSL office)
    Required Constitutive documents of the company, passport of director/attorney
    Types of accounts Personal; Corporate; Savings; Current
    Opening procedure and Due Diligence It is possible to open an account without visiting the country where the bank is located; It is possible to open an account without meeting the banker
    Chances to open an account Predictable
    Business description Relatively detailed: in addition to the description of the business, the origin of funds needs to be disclosed This bank now looks like a really large group of companies and by the volume of deposits holds the leading position among Latvia’s commercial banks. Both in the past and in the present the bank’s dignified policy of attracting clients appeals to many people: the bank does not seek to get the client at any price! This, first of all, relates to the bank’s weighed advertising policy. The clients are still attracted by the stable development of this bank, by its very reasonable fees and established reputation. In 2012 ABLV Bank ranked first among Latvian commercial banks and is also the largest private bank in Latvia in terms of the overall business volume 
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