Bank Austria AG

Relationship was terminated

GSL reference about the bank

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One of the first attempts to establish a relationship with a ‘Street Retail Bank’ which is not orientated to a specific regional market (as most such banks are), but is ready to open an account to any client from the ‘street’ who meets the bank’s Due Diligence requirements.
We first met in May 2000 (CreditAnstalt), and even at that time (long before the 11th September) the bank was very persistent and punctual as regards supporting documents and information about the source of funds. The bank was ready to open accounts to Russian companies (on condition that a license from the Central Bank of Russia has been obtained), the bank was not familiar with the concept of offshore jurisdictions.
Soon, CreditAnstalt merged with Bank of Austria which was acquired by the German HypoVereinsbank which in turn was amalgamated by the Italian UniCreditGroup. Such massive change of ownership has more than once led to changes in the bank’s policy regarding Russian-speaking clients and finally made us decide to break the relationship with this bank until better times

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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
    103 2 A
    Year of foundation 1855
    History Founded in 1855. On October 5, 1991 Österreichische Länderbank AG and Zentralsparkasse und Kommerzialbank AG, Vienna merged and name changed to Z-Länderbank Bank Austria AG. On August 2, 1993 name changed to Bank Austria AG and on May 31, 1997 absorbed WestLB Austria. In 1998 acquired the majority of Creditanstalt AG. On November 7, 2000 Bank Austria Creditanstalt International AG and Sparkasse Stockerau merged into Bank Austria AG. On August 12, 2002 Creditanstalt AG merged into Bank Austria AG and name changed to Bank Austria Creditanstalt AG. On September 27, 2008 name changed as above. On October 1, 2009 Bank Privat AG merged into the above. On October 28, 2009 Asset Management GmbH merged into the above
    Bank’s shareholders UniCredit SpA (Milan Italy) - 99,996%; Registered Shares - 0,004%
    Confidentiality 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
    N/A N/A N/A N/A

    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

    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
    Types of accounts Personal; Corporate; Savings
    Opening procedure and Due Diligence It is possible to open an account without meeting the banker
    Chances to open an account Predictable
     
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