GSL / Offshore and International Law / Offshore Banking / AKB Privatbank Zurich AG

How to open a bank account in AKB Privatbank Zurich AG

GSL reference about the bank What is it?

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Relationship was terminated

As of November 29, 2013, AKB Privatbank Zürich AG operates as a subsidiary of Privatbank IHAG Zürich AG

Relationship was terminated

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General information and rating

4 811
Global rating
164
Countrywide rating
Countrywide rating of the head bank
Global rating of the head bank
Year of foundation
1988
History
Established in 1988 as BFZ Bankfinanz. In December 1992 changed its name to Bank Austria (Switzerland) Ltd. On January 1, 1999 the bank changed its name to Bank Austria Creditanstalt (Switzerland) Ltd. On May 1, 2001 got its present name - AKB Privatbank Zurich AG.
Personnel
The staff speaks English, French, German, and Russian
Bank’s shareholders
Aargauische Kantonalbank (Aarau Switzerland) - 100%
Confidentiality
Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; AML legislation is strictly observed; Active member of OECD, FATF, Basel Commitee, Egmont Group etc.
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    Minimum requirements

    200 000
    Minimum balance, €
    N/A
    Transactions permitted per month
    0
    Initial deposit of funds, €
    12
    Deadline for the initial deposit, month
    Minimum balance, €
    USD 250 000 or equivalent within a year
    Initial deposit of funds, €
    No requirements
    Deadline for the initial deposit, month
    Minimum balance should be placed within a year of account opening
    How fast payments are executed
    Value date for incoming payments – the same day; for outgoing payments – on the third day. Transaction day ends at 6 p.m. Moscow time.

    Tariffs and services

    N/A
    Outcoming transfer, €
    N/A
    Incoming transfer, €
    N/A
    Account maintenance, €/year
    N/A
    Payment limit for credit cards, €/day
    Distant access to the account
    Payment instructions are sent by fax and confirmed by a phone call. Additional option – to use a code word
    Financial products
    Management of fixed-term and investment deposits; brokerage services for stock exchange transactions; all types of foreign-currency and security transactions; lombard credits; securities management; mortgages; credits
    Credit/debit cards
    Маster Сard, Visa Card, Travel Cash

    Account opening procedure

    Days to open for incoming transfers
    case by case
    Days to open for outcoming transfers
    case by case
    References
    Not necessary
    Purpose of the account
    Savings
    Visit to the bank
    A visit to the bank is not required? but a personal meeting would be mandatory. The bank representative visits Moscow regularly.
    Required
    Completed bank forms; copy of client’s passport; standard set of corporate documents
    Types of accounts
    Savings
    Opening procedure and Due Diligence
    It is possible to open an account without visiting the country where the bank is located
    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

    Banks of Switzerland

    Bank
    The cost of opening an account, $
    Global rating
    Countrywide rating
    GSL rating
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