How to open a bank account in Bank Frick & Co. AG

Beginning of cooperation Last contact Last update
October, 2018 June, 2021 May, 2021

GSL reference about the bank

Being professional intermediaries, we are limited in giving public opinion about some financial institutions. Please contact us directly to obtain more detailed feedback.

Primary requirements:
- it is possible to open a crypto account in BTC ETH, ETC, XRP, LTC, XLM, QTUM, XEM;
- it is possible to open a current account;
- savings (investment) accounts;
- the minimum account balance is discussed with each client individually;
- the bank is ready to open accounts for companies whose activities are related to cryptocurrency, but their turnover must exceed 20,000,000 EUR - for personal accounts in cryptocurrency, a balance equivalent to 1.000.000 EUR / USD / CHF is desirable
- the bank has offices in Liechtenstein and London;
- the term for opening an account - case by case (check with the consultant);
- the bank does not work with classic offshore companies, BUT is ready to consider companies registered in Hong Kong;
- mainly offers EUR as the main operating currency; USD is also offered, but with restrictions;
- when transferring cryptocurrency to the bank from your wallet, you will need a Public Key for verification by the Bank's Compliance.

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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
    Not rated Not rated N/R
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    Year of foundation 1998
    History Bank Frick was founded in 1998 by Liechtenstein's fiduciary company Kuno Frick Sr (1938–2017) together with a number of financial investors.
    Personnel The staff speaks English, German
    Bank’s shareholders The bank is owned by the Kuno Frick Family Foundation (65%) and Net 1 UEPS Technologies, Inc. (35%), a financial technology company listed on the Nasdaq
    Confidentiality AML legislation is strictly observed; Active member of OECD, FATF, Basel Commitee, Egmont Group etc.

    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
    N/A No restrictions 0 0 No restrictions
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    Minimum balance, € There is no minimum balance limit. But for personal accounts in cryptocurrency, a balance equivalent to 1.000.000 EUR / USD / CHF is desirable
    Transactions permitted per month No restrictions
    Initial deposit of funds, € No restrictions on the initial payment
    Minimum turnover, €/year There are no restrictions on the minimum turnover for private clients. But when it comes to crypto-exchanges, the bank is focused on exchanges with a turnover of about 5 million USD per year. And also the bank is ready to open accounts for companies whose activities are related to cryptocurrency, but their turnover must exceed 20,000,000 EUR
    How fast payments are executed Payments are executed on the same day or the next day

    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, €
    100 0 200 N/A N/A
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    Outcoming transfer, € For payments up to CHF 5,000.00 - CHF 5.00 per payment. For payments from CHF 5,001.00 - CHF 10.00 per payment. For payments in USD - 0.20% of the amount (but at least CHF 100.00). Urgent payment - additional 0.10% of the amount (but at least CHF 50.00)
    Account maintenance, €/year CHF 50.00 per quarter + CHF 500.00 per year for corporate clients
    Distant access to the account There is Internet-banking, which allows you to both monitor the state of the account and make payments without contacting a bank officer for assistance.
    Financial products In addition to classic banking products, the Bank is actively working with crypto projects: it is possible to open crypto accounts in BTC ETH, ETC, XRP, LTC, XLM, QTUM, XEM; the bank offers a simple API for developers and fintechs; easy conversion from crypto-currency to fiat and vice versa
    Credit/debit cards Credit cards of major payment systems

    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
    case by case case by case Not necessary Detailed Savings & current
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    Visit to the bank A visit to the bank / personal meeting with a banker is a prerequisite for opening an account.
    Required Completed bank forms; copy of the client's passport; standard set of corporate documents.
    Types of accounts Personal; Corporate; Savings; Current
    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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