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

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

October, 2018

Last contact

April, 2024

Last update

October, 2023

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;
for the private bank account min balance is EUR/USD/CHF 500 000;
for corporate accounts bank will be focusing on the turnover and the min start with 100.000 EUR/USD/CHF and this number could be different as they dealing here case by case;
for Crypto trading and custody min balance also EUR/USD/CHF 500 000 and could be EUR/USD/CHF 1 000 000;
accounts for blockchain and crypto companies min turnover start with EUR/USD/CHF 10 000 000 and above;
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

GSL rating

Beginning of cooperation

October, 2018

Last contact

April, 2024

Last update

October, 2023

Поиск консультанта...

+44 0 207 822 85 93

General information and rating

Not rated

Global rating

Not rated

Countrywide rating

—

Countrywide rating of the head bank

—

Global rating of the head bank

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

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Minimum requirements

100 000

Minimum balance, €

No restrictions

Transactions permitted per month

0

Initial deposit of funds, €

0

Deadline for the initial deposit, month

Minimum balance, €

For the private bank account min balance is EUR/USD/CHF 500 000.

For corporate accounts bank will be focusing on the turnover and the min start with EUR/USD/CHF 100 000 and this number could be different as they dealing here case by case.

For Crypto trading and custody min balance also EUR/USD/CHF 500 000 and could be EUR/USD/CHF 1 000 000

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 USD 5 million per year. And also the bank is ready to open accounts for companies whose activities are related to cryptocurrency, but their turnover must exceed EUR 10 000 000

How fast payments are executed

Payments are executed on the same day or the next day

Tariffs and services

100

Outcoming transfer, €

0

Incoming transfer, €

200

Account maintenance, €/year

N/A

Payment limit for credit cards, €/day

Outcoming transfer, €

For payments up to CHF 5 000 - CHF 5 per payment. For payments from CHF 5 001 - CHF 10 per payment. For payments in USD - 0,20% of the amount (but at least CHF 100). Urgent payment - additional 0,10% of the amount (but at least CHF 50)

Account maintenance, €/year

CHF 50 per quarter + CHF 500 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

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

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

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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