Bank Private AG

Relationship was terminated

GSL reference about the bank

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We got acquainted with the bank in May 2000, soon after a separate legal entity for handling private transactions had been singled out of the Bank of Austria, the largest banking group of Austria.
There were construction works still in progress within a new building of the bank, and we might well be the first introducers of that newly made financial institution and, by far, the first Russian lawyers to enter into relationships with that bank.
It was may be due to the fact that we were the first, that we were closely scrutinized (in the good sense of the word) during the interview with the bank management (by the way, out of five interviewers  two were the members of the Board of the Bank of Austria and Creditanstalt). In two weeks we were cleared as professional intermediaries of the bank to work for individual clients and on condition of the client’s personal visit to the bank. Accounts for offshore companies were out of the question though (and it quite corresponds to our notes regarding the policies of Creditanstalt).
During the following years the bank’s owners changed more than once and today it is part of UniCreditGroup, which is quite active in the Russian market. In October 2009 the bank was taken over by Bank Privat AG Bank Austria

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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 2000
    History Established in 2000 by the largest bankng group of Austria with the view to provide "individual" services at the rates lower than those of the banking group itself. In October 2009 was taken over by Bank Privat AG Bank Austria
    Personnel Personnel speak English, German, Italian
    Bank’s shareholders UniCredit SpA (Milan Italy) -99,996%
    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
    Distant access to the account Personal banker. Work under 'personally knwon' system, which means fax messages to manage the account, confirmed by voice instructions. E-mail correspondence may be used to obtain any information and to give any instructions except to make transfers.
    Financial products The bank may issue check books for EURO transactions

    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
    Visit to the bank Is a must
    Required Photocopy of international passport and complete set of traditional Due Diligence documents
    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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