AKB Privatbank Zurich AG

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GSL reference about the bank

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

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    Bank's characteristics

    General information and rating

    Global rating Countrywide rating Countrywide rating of the head bank Global rating of the head bank Credit rating
    4 811 164 N/R
    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.

    Minimum requirements

    Minimum balance, € Transactions permitted per month Initial deposit of funds, € Deadline for the initial deposit, month Minimum turnover, €/year
    200 000 N/A 0 12
    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

    Outcoming transfer, € Incoming transfer, € Account maintenance, €/year Payment limit for credit cards, €/day Funds to be blocked for CC issue, €
    N/A N/A N/A N/A N/A
    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 Days to open for outcoming transfers References Business description Purpose of the account
    14 14 Not necessary Detailed 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 Personal; Corporate; Savings
    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
     
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