How to open a bank account in EFG (Zurich) SA

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

November, 2008

Last contact

December, 2024

Last update

August, 2024

savings (investment) accounts;
requirements for the minimum account balance – USD 2 000 000;
a personal meeting with a bank representative is mandatory

GSL rating

Beginning of cooperation

November, 2008

Last contact

December, 2024

Last update

August, 2024

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+44 0 207 822 85 93

General information and rating

752

Global rating

Countrywide rating

—

Countrywide rating of the head bank

—

Global rating of the head bank

Year of foundation

1873

History

Established in 1873 as Banca della Svizzera Italiana. The name changed to BSI-Banca della Svizzera Italiana in 1988 and to the existing one – in December 1998. The bank took over Banca Unione di Credito (founded in 1919) in January 2007 and Banca del Gottardo (founded in 1957) in July 2008. In July 2014, the bank changed hands: Italian insurance company Generalli sold its shares in BSI to BTG Pactual, a Brazilian financial group

Personnel

The bank has over 2 300 staff, including English-speaking officers

Bank’s shareholders

The bank’s major shareholder is EFG Bank European Financial Group (EFG Group) - 56%. The shares in EFG International are listed on the SIX Swiss Exchange

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.

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Minimum requirements

2 000 000

Minimum balance, €

Transactions permitted per month

2 000 000

Initial deposit of funds, €

Deadline for the initial deposit, month

Minimum balance, €

Minimum balance requirement - USD 2 000 000

Transactions permitted per month

There is a right to transactions, however, for each of them, supporting documents are required, and it is desirable to open a personal account

Initial deposit of funds, €

The down payment must be equal to the minimum account balance

Deadline for the initial deposit, month

The down payment must be paid within the first few months

How fast payments are executed

Payments are executed same day or next day

Tariffs and services

Outcoming transfer, €

Incoming transfer, €

150

Account maintenance, €/year

N/A

Payment limit for credit cards, €/day

Outcoming transfer, €

Transfer fee is about EUR 30

Incoming transfer, €

The Bank does not charge commission for crediting

Account maintenance, €/year

Account maintenance fee is CHF 15 per month

Distant access to the account

eBanking

Financial products

The bank does NOT work with main banking products, offering traditional financial instruments in this area: money market, stocks, bonds and their combinations

Credit/debit cards

American Express, MasterCard

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

Visit to the bank

A personal meeting with a bank representative is mandatory

Required

Copy of passport, business card, standard set of corporate documents

Types of accounts

Savings

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

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How to open a bank account in EFG (Zurich) SA

<img src="https://gsl.org/en/wp-content/themes/gsl/i/single_banks/thumb_up_black_24dp.svg" alt="General information and rating" data-eio="l"> General information and rating

<img src="https://gsl.org/en/wp-content/themes/gsl/i/single_banks/star_black_24dp.svg" alt="Minimum requirements" data-eio="l"> Minimum requirements

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<img src="https://gsl.org/en/wp-content/themes/gsl/i/single_banks/savings_black_24dp.svg" alt="Account opening procedure" data-eio="l"> Account opening procedure

Banks of Switzerland

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General information and rating

Minimum requirements

Tariffs and services

Account opening procedure