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

December, 2022

Last update

October, 2022
  • the bank opens checking and savings accounts;
  • the bank has a representative in Moscow and Kiev - if it is not possible to visit Belgrade, you can go through the identification with a representative;
  • 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
December, 2022
Last update
October, 2022
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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
The bank has Russian-speaking staff. Staff also 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 - there is a representative in Moscow and Kiev
    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

    Banks of Serbia

    Bank
    The cost of opening an account, $
    Global rating
    Countrywide rating
    GSL rating
    3 500
    N/A
    N/A
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    Comments

    • userpic round-small-mask

      11.07.2022 14:20:42 Helen

      Dear All,
      let me introduce myself. My name is Boriskina Elena. I’m representative of EMCO. It is Russian coal mining Co.
      Currently we are highly interesting in opening non resident bank account for our Russian mining company in Serbia.
      Could you please let me know can you help us?

      Please note, that our business direction, our UBO and all our companies are non-sanctioned.

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