How to open a bank account in HSBC Bank plc

Beginning of cooperation Last contact Last update
January, 2002 December, 2021 September, 2021

GSL reference about the bank

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Primary requirements:
- the bank opens savings and settlement accounts;
- an account can be opened in Moscow by meeting with a bank representative;
- there are no minimum balance requirements;
- the term for opening an account - case by case (check with the consultant);
- an unreasoned refusal and a long waiting period are possible

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    Bank's characteristics

    General information and rating

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    Global rating Countrywide rating Countrywide rating of the head bank Global rating of the head bank Credit rating
    20 4 AA-
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    Year of foundation 1836
    History Founded in 1836 as The Birmingham and Midland Bank. In 1891, 1898 and 1918 it took over in succession Central Bank of London, City Bank Limited and The London Joint Stock Bank Limited, following which it changed name to London Joint City and Midland Bank Limited. The name Midland Bank Limited appeared in 1923. With the coming into effect of Companies Act 1980 the bank was converted into a public company Midland Bank plc, which was taken over by HSBC Holdings plc in 1992. The landmark consequence of this takeover was the move of HSBC’s headquarters from Hong Kong to London. Since 2003 HSBC Group, that embraces 7,500 offices in 87 countries, has exercised its global strategic and financial planning from a 45-storey building in London’s Canary Wharf
    Personnel English-speaking
    Bank’s shareholders HSBC Holdings plc (London UK) - 100%
    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

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    Minimum balance, € Transactions permitted per month Initial deposit of funds, € Deadline for the initial deposit, month Minimum turnover, €/year
    0 0 No restrictions
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    Transactions permitted per month The bank is ready to service clients with any number of daily transactions
    Initial deposit of funds, € The bank has no requirements for the initial deposit
    Minimum turnover, €/year The bank has no requirements for the minimum turnover
    How fast payments are executed Payments are executed same day

    Tariffs and services

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    Outcoming transfer, € Incoming transfer, € Account maintenance, €/year Payment limit for credit cards, €/day Funds to be blocked for CC issue, €
    38 7 72 No restrictions 0
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    Outcoming transfer, € The fee for outgoing transfers to HSBC Group banks – GBP 20, to other banks – GBP 30, fee for all outgoing transfers via Business Internet Banking – GBP 17
    Incoming transfer, € The fee for incoming transfers of up to GBP 100 – 0, for all other transfers – GBP 6
    Account maintenance, €/year The account maintenance fee is GBP 5 per month
    Payment limit for credit cards, €/day The daily limit for cash withdrawals and non-cash payments is set by the client. The payment limit per transaction is normally GBP 5000
    Funds to be blocked for CC issue, € None
    Distant access to the account Business Telephone Banking, Business Internet Banking. For non-GBP accounts Business Internet Banking currently provides balance information only. A full internet access to non-GBP accounts is available via HSBCnet
    Financial products Fiduciary deposits, loans and specialized financing, safe custody, investment advice, fiduciary asset management, alternative investments, fund choice strategy, corporate finance, mortgage (European real estate), mortgage finance
    Credit/debit cards MasterCard, Visa

    Account opening procedure

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    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 Exhaustive Current
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    Visit to the bank No visit to the bank is required, but the client will need to visit HSBC’s nearest office (for example, in Moscow) for authentication of signature on the bank forms
    Required Passports. Standard apostilled corporate documents. A full package of documents for director, shareholder, and secretary of the company. An exhaustive business description. A non-exhaustive list of requested information and documents. The waiting time may be long and the application may be rejected without explanation
    Types of accounts Personal; Corporate; 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 visiting a professional introducer
    Chances to open an account Unpredictable
    Business description The bank asks to provide as much detail as possible about the client’s business, including: details of all beneficial owners of the company; detailed description of products/services sold; how the business is managed from overseas; how the company attracts clients (advertising policy etc); why a UK bank account is required; etc
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