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GSL rating
Beginning of cooperation
April, 2020
Last contact
September, 2023
Last update
February, 2023
the bank opens checking and savings accounts;
the minimum balance for a corporate account is 500 EUR;
an account can be opened without leaving Portugal;
the term for opening an account – case by case (check with the consultant);
the bank does not work with US residents;
the bank does not open accounts for offshore companies
Founded in 1991. One of the largest commercial banks in Portugal. There are branches in Poland, Macau, Switzerland, Mozambique and Angola
Personnel
There is an English-speaking staff
Bank’s shareholders
Several large financial companies
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
500
Minimum balance, €
No restrictions
Transactions permitted per month
500
Initial deposit of funds, €
1
Deadline for the initial deposit, month
Minimum balance, €
Minimum account balance requirement - EUR 500
Transactions permitted per month
No limit on the number of transfers
Initial deposit of funds, €
The initial payment is equal to the minimum account balance - 500 EUR
Deadline for the initial deposit, month
The initial deposit must be paid at the time of opening the account
Minimum turnover, €/year
No restrictions
How fast payments are executed
Day to day or next day
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Tariffs and services
7
Outcoming transfer, €
6
Incoming transfer, €
65
Account maintenance, €/year
N/A
Payment limit for credit cards, €/day
Outcoming transfer, €
Transfer fee (SEPA) is EUR 6.24 plus additional fees
Incoming transfer, €
The enrollment fee is 5.20 EUR plus additional fees
Account maintenance, €/year
Account maintenance fee is 65 EUR per year
Distant access to the account
There is a Homebanking system
Financial products
The bank provides a wide range of banking and financial services, including services for private and corporate clients. The bank also offers special programs such as Programa Prestige
Credit/debit cards
MasterCard, bank cards
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 & current
Visit to the bank
You can open a bank account without leaving Portugal
Required
Standard set of incorporation documents, copy of the beneficiary's passport, proof of place of residence (e.g. utility bill) and completed bank forms. Documents must be certified by the Portuguese consulate
Types of accounts
Savings; Current
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
Moderately detailed: along with the description of the business, it is necessary to provide information on the sources of origin of funds.
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