How to open a bank account in Bulgarian American Credit Bank

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

January, 2015

Last contact

April, 2024

Last update

March, 2024
  • the bank opens checking and savings accounts;
  • to open an account, a personal meeting with a potential client is mandatory
  • there are no minimum balance requirements;
  • the term for opening an account – case by case (check with the consultant)
GSL rating
Beginning of cooperation
January, 2015
Last contact
April, 2024
Last update
March, 2024
Your Consultant
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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
1996
History
The founder of the Bank is the Bulgarian American Enterprise Fund (BAEF).

BAEF is a private corporation established in the US. Initially, the Bank was granted a limited banking license by BNB. In 1998 the banking license was expanded. In April 2006, the controlling shareholder of the Bank at this moment - BAEF - sold around 30% from the capital of BACB through secondary public offering of shares executed on the Bulgarian Stock Exchange and the Bank received the status of a public company. On August 29, 2008, after obtaining the required approvals from the authorities in Bulgaria and Ireland, Allied Irish Banks, p.l.c., (AIB) acquired 49,99% of the voting stock of BACB and the participation of BAEF was accordingly decreased to 3,89%. On July 17, 2011, Allied Irish Banks, p.l.c. sold its 6 311 100 shares, representing 49,99% from the registered capital of BACB, to CSIF AD, a Bulgarian private investment company, after receiving the necessary approvals from Bulgarian authorities
Personnel
English & Bulgarian
Bank’s shareholders
CSIF AD
Confidentiality
Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; AML legislation is strictly observed
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    Minimum requirements

    0
    Minimum balance, €
    No restrictions
    Transactions permitted per month
    0
    Initial deposit of funds, €
    No restrictions
    Deadline for the initial deposit, month
    Minimum balance, €
    The Bank does not impose any minimum balance requirements on the account
    Transactions permitted per month
    The bank does not limit the number of transactions
    Initial deposit of funds, €
    No requirement
    Minimum turnover, €/year
    No requirement for minimum turnover
    How fast payments are executed
    Standard transfer - value date - in two working days; urgent transfer - with value date on the next working day

    Tariffs and services

    50
    Outcoming transfer, €
    50
    Incoming transfer, €
    60
    Account maintenance, €/year
    2 000
    Payment limit for credit cards, €/day
    Outcoming transfer, €
    Outgoing payments - Processing of a payment initiated via Internet banking / Virtual banking (and/or other electronic device) - 0,1% (min EUR 10, max EUR 200) with value date – 2 working days; 0,15% (min EUR 15, max. EUR 300) with value date – same / next working day
    Incoming transfer, €
    Incoming payments - 0,1% (min EUR 8, max. EUR 200)
    Account maintenance, €/year
    The commission for opening an account is EUR 25, for closing an account - EUR 8. The monthly account maintenance fee ranges from EUR 3 to EUR 10
    Payment limit for credit cards, €/day
    Debit Card VISA Business - EUR 2 000 - EUR 5 000. MasterCard Business - EUR 2 000 - EUR 5 500
    Distant access to the account
    Internet Banking / Virtual Banking
    Financial products
    The Bank offers a wide range of banking services and products for corporate clients and private individuals, including guarantees, loans, escrow accounts and others
    Credit/debit cards
    VISA Business, MasterCard 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
    To open an account, a personal meeting with a potential client is mandatory
    Required
    Photocopies of constitutive documents of the company, photocopy of director’s / attorney’s passport
    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
    Business description
    Reasonably detailed: the bank would like to have the information on the sources of funds, together with the business description.

    Banks of Bulgaria

    Bank
    The cost of opening an account, $
    Global rating
    Countrywide rating
    GSL rating
    2 420
    N/A
    N/A
    2 420
    N/A
    N/A
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    Comments

    • userpic round-small-mask

      10.05.2023 12:21:45 Bernando Bozman

      Hello

      My name is Bernando Kozman. I am looking for a company registration in Estonia. At the moment we are a small IT group, which is planning to develop a software for crypto. Do you have commercial invoice draft to compare your prices ?

    • YOUR CONSULTANT round-small-mask

      11.05.2023 11:13:21 YOUR CONSULTANT, If you are ALREADY a GSL customer

      Hello, Bernardo

      We sent you the information by e-mail

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