Barclays Bank PLC

Beginning of cooperation Last contact Last update
October, 2013 October, 2018 July, 2018

GSL reference about the bank

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Barclays Plc is one of the UK’s and worlds’ largest financial conglomerates, widely represented in Europe, USA, and Asia. Transactions are made through the subsidiary Barclays Bank PLC.
The history of Barclays is more than 300 years long. The name ‘Barclays’ became to be associated with the company’s business in 1736.
The bank prefers to deal with Russian (but not CIS) clients. It is also ready to accept large clients dealing in Forex and IT businesses (no start-ups though)

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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
    Not rated Not rated 5 A+
    Year of foundation 1690
    History Cyprus Barclays is a branch of the UK bank
    Personnel The staff speak English, Greek, and Russian
    Confidentiality Judicial Cooperation Agreement with Russia is signed; 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
    2 000 000 No restrictions N/A N/A 20 000 000
    Minimum balance, € The minimum balance (for savings accounts) is EUR 2 000 000
    Transactions permitted per month For trading accounts, there is no restriction as to the turnover (higher frequency of transactions is preferable)
    Minimum turnover, €/year The minimum annual turnover is about EUR 20 000 000
    How fast payments are executed Payments are executed same day

    Tariffs and services

    Outcoming transfer, € Incoming transfer, € Account maintenance, €/year Payment limit for credit cards, €/day Funds to be blocked for CC issue, €
    70 20 100 N/A N/A
    Outcoming transfer, € The fee for outgoing transfers is EUR 70. For transfers made via Online Banking (BWOB), the fee is EUR 40
    Incoming transfer, € The fee for incoming transfers is EUR 20. No fee is charged in the following cases: 1) if fee is paid by the remitter; 2) if the transfer falls within the EU regulations; 3) if the transfer qualifies as SEPA Credit Transfer
    Account maintenance, €/year The account opening is free of charge. The account maintenance fee is EUR 25 per quarter
    Distant access to the account Telephone, fax, and Internet banking. The Internet banking operates in real time and does not require involvement of a bank officer
    Financial products The bank offers a wide range of banking and financial services, including personal and corporate accounts, private banking, wealth management, investments and loans
    Credit/debit cards MasterCard, Visa (card issue fee is EUR 45)
    Hold mail Hold mail services cost EUR 190 annually

    Account opening procedure

    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
    Visit to the bank No visit to the bank is required
    Required Bank forms, copies of passports, company documents (for corporate accounts), business description and source of funds (KYC). The bank’s Due Diligence procedure is a classic English one: a lengthy, meticulous, and detailed review of the documents submitted. However, later in the course of work the bank does not ask additional questions, but only checks whether transactions fit into the scheme provided at the time of account opening
    Types of accounts Personal; Corporate; Savings; Current
    Opening procedure and Due Diligence It is possible to open an account without visiting the country where the bank is located; It is possible to open an account without meeting the banker
    Chances to open an account Predictable
    Business description Relatively detailed: in addition to the description of the business, the origin of funds needs to be disclosed