Coutts & Co Ltd

Relationship was terminated

GSL reference about the bank

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Speaking of reliability again. This time from the viewpoint of ‘geographical continuity’.
‘Moving house once is like having it on fire twice’, as the old saying goes, referring to domestic troubles associated with the removal of property. What it does not mention is the reputational losses of moving house…
What do you say about a bank that did not moved office for 300 years? That is Coutts Bank, founded in 1692 and for long known as ‘Bankers of 59 Strand’.
Another question from the category of Interesting Facts: Did the Russian President attend the opening of the new Sberbank office? Because Elizabeth II did attend the Coutts Headquarters opening ceremony in 1978. Maybe it is because her great-great-great-great-great-grandfather George III kept there his savings?
But so much for the past. Coutts Bank of today is owned by one of the England’s (and world’s) largest banking groups – Royal Bank of Scotland (RBS), which, increasing its international presence, acquired Swiss bank Von Ernst in 2002.
Thus, the demanding client can use the bank’s services via its branches in Zurich (Coutts Bank von Ernst) and London (RBS Coutts). You already know the address of the latter. And we learnt this in 1996.
В конце 2015 года Coutts Bank был куплен UBP Банком

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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
    694 20 N/R
    Year of foundation 1692
    History The bank was founded in 1692. The UK sister bank of Coutts & Co is one of the oldest private banks in the country. Coutts & Co AG changed its name to Coutts Bank (Switzerland) Ltd in July 1997. In October 2004 Coutts Bank (Switzerland) Ltd and Bank von Ernst & Cie (founded in 1869) merged to produce Coutts Bank von Ernst AG. Coutts Bank von Ernst AG then changed its name to RBS Coutts Bank Ltd in January 2008 and to the existing name in November 2011. The bank has offices in Europe, Asia, and Cayman Islands
    Personnel The bank has Russian-speaking staff. Russian desk is quite large, comprising 160 staff (Geneva, Zurich, London, and Singapore)
    Bank’s shareholders RBS Netherlands Holdings BV (Netherlands) - 100%
    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
    1 000 000 5 500 000 12
    Minimum balance, € The required minimum balance is EUR 1 000 000
    Transactions permitted per month Upon reaching the minimum balance (EUR 1 000 000), 5 transactions per month are permitted. However, it is undesirable to use the account as a trading one. An individual approach is possible provided the minimum balance is expected to increase
    Initial deposit of funds, € The initial deposit is EUR 500 000
    Deadline for the initial deposit, month The initial deposit must be made within 12 months of the account opening
    How fast payments are executed Payment instructions received before 11.00 Swiss time (13.00 Moscow time) are executed within a few minutes with same-day value date; payment instructions coming in after 11.00 are executed next day with the next-day value date

    Tariffs and services

    Outcoming transfer, € Incoming transfer, € Account maintenance, €/year Payment limit for credit cards, €/day Funds to be blocked for CC issue, €
    57 0 1 450 10 000 20 000
    Outcoming transfer, € Fee for outgoing transfers is CHF 70. It is charged for transfers made on top of the above-indicated number: for Premium Package – on top of 24 transfers per year; for Exclusive Package – on top of 48 transfers per year
    Incoming transfer, € The bank does not charge any fees on incoming transfers
    Account maintenance, €/year Premium Package fee is CHF 1 800 per year (unlimited number of trading accounts; MASTER and VISA Gold credit cards; 24 cross-border transfers per year; cheque processing; tax returns / profit and loss account; quarterly portfolio reports; hold mail). Exclusive Package fee is CHF 3 600 per year (wealth management; VISA Platinum credit cards; 48 cross-border transfers per year; reduced fees for cash services; no expense limit; monthly portfolio reports; regular markets updates)
    Payment limit for credit cards, €/day Credit card payment limit is from CHF 10 000
    Funds to be blocked for CC issue, € Insurance coverage is CHF 20 000
    Distant access to the account Via fax, phone (up to CHF 500 000), and email. A limited access to the account is available via internet – to view only. An active access is expected soon
    Financial products Trust and fiduciary services, loans and specialized financing, investment advice, safe custody, wealth management, alternative investments, fund choice strategy, Family Office, corporate finance, mortgages for foreign real estate (United Kingdom, Switzerland, France, and Monaco), and lombard credits
    Credit/debit cards VISA и MasterCard: Silver, Gold, Platinum in CHF, EUR and USD (card annual maintenance fee is included in the account maintenance). Travel cash card / traveller cheques. Maestro card (in CHF and EUR)
    Hold mail The hold mail fee is included in the account maintenance cost

    Account opening procedure

    Days to open for incoming transfers Days to open for outcoming transfers References Business description Purpose of the account
    7 7 Not necessary Detailed Savings
    Visit to the bank A visit to the banks is not obligatory. The bank’s representative visits Moscow once a month (staying for one week)
    Required Copy of the Russian passport (internal passport with address page) and of the international passport. A CV is preferable, however details of biography can be related verbally. A standard set of corporate documents
    Types of accounts Personal; Corporate; Savings
    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 Relatively detailed: in addition to the description of the business, the origin of funds needs to be disclosed
     
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