How to open a bank account in Bank of Serbia

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

June, 2020

Last contact

April, 2024

Last update

April, 2024

the bank opens checking and savings accounts;
the bank opens personal accounts for non-residents of Serbia;
the bank opens accounts in RSD, CHF, RUB, EUR and USD;
preference is given to financial reporting jurisdictions, but at the same time there is no prohibition on opening accounts for offshore companies (individual consideration procedure);
the bank does not open accounts for such activities as online commerce, payment systems, companies dealing with cryptocurrency;
check with the consultant for the date of opening an account;
the bank does not process payments in the CIS in dollars. And in other directions USD payments will be extremely problem

GSL rating

Beginning of cooperation

June, 2020

Last contact

April, 2024

Last update

April, 2024

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

2018

History

The bank changed its name after it was purchased by a private investor in the summer of 2018

Personnel

Staff speak Serbian and English

Bank’s shareholders

The bank is wholly owned by a private investor

Confidentiality

Double Taxation Agreement with Russia is signed; AML legislation is strictly observed

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Minimum requirements

N/A

Minimum balance, €

No restrictions

Transactions permitted per month

0

Initial deposit of funds, €

0

Deadline for the initial deposit, month

Minimum balance, €

No minimum balance requirements for business accounts

Transactions permitted per month

No restrictions

How fast payments are executed

Same day or next day

Tariffs and services

125

Outcoming transfer, €

0

Incoming transfer, €

430

Account maintenance, €/year

N/A

Payment limit for credit cards, €/day

Outcoming transfer, €

Transfers to other banks within and outside Serbia, bank fee is paid by the payer (OUR) - 0,25% (min. RSD 3 000 (~ EUR 25,5); max. RSD 60 000 (~ EUR 510,5))

Incoming transfer, €

No fees are charged on incoming transfers

Account maintenance, €/year

Monthly account maintenance fee is RSD 4 200 (~ EUR 35,7). Monthly inactive account maintenance fee is RSD 12 000 (~ EUR 102).
Processing of account opening application within 7 business days – EUR 500.
Account closing on the customer’s initiative – RSD 12 000 (~ EUR 102), account closing on the bank’s initiative – RSD 60 000 (~ EUR 510,5)

Distant access to the account

Internet banking is available. The cost of the initial package (SMART-card and card-reader) + a one-time fee for certification of e-banking services per user - RSD 9 000 (~ EUR 76,6) + delivery/shipping costs

Financial products

Digital banking and latest financial technologies are key elements of the bank’s long-term strategy. The bank forms a portfolio of loans and settlement services for companies and offers an individual approach and a wide range of the most popular services for individuals

Credit/debit cards

VISA BUSINESS

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 an account without visiting the bank

Required

Completed bank forms. Copies of passports of beneficial owners and account signatories, proof of address (Utility Bill). Standard set of corporate documents.
There is no need to translate documents into Serbian. After the bank opens an account for the client, it independently translates a number of documents into Serbian and debits the commission from the client's account. If a company has a complex ownership structure or if it is a partnership, then a full package of corporate documents must be provided for each company in the structure.
The Incumbency and Good Standing Certificates must not be older than 3 months at the date of submission to the bank.
In addition, it is necessary to provide: company’s business description (in English) specifying the names and websites of partners, and the expected movements of funds in the account; if a company has another bank account – statement of account for the last 6 months; explanation why an account in Serbia is necessary.

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

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