How to open a bank account in Hypo Vorarlberg Bank AG
GSL reference about the bank What is it?
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GSL rating
Beginning of cooperation
June, 2004
Last contact
May, 2024
Last update
October, 2023
the bank opens savings and settlement accounts;
accounts for operating companies are opened in combination with a personal account for the beneficiary;
visit to the bank is required;
for current accounts, the permissible number of transfers per month is not limited;
minimum account balance – from EUR 1 000 000;
the term for opening an account – case by case (check with the consultant);
at present, the bank opens accounts only for European companies and does not open accounts for classic offshore companies (BVI, Belize, Panama, etc.)
A joint-stock company Vorarlberger Landes- und Hypothekenbank Aktiengesellschaft (The Bank of the federal land Vorarlberg) was established in 1897. The bank is the biggest universal financial institution in Vorarlberg.
Personnel
Staff communicates in English
Bank’s shareholders
The State of Vorarlberg holds 76.8732% of the ordinary shares through Vorarlberger Landesbank-Holding
Confidentiality
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
1 000 000
Minimum balance, €
No restrictions
Transactions permitted per month
1 000 000
Initial deposit of funds, €
3
Deadline for the initial deposit, month
Minimum balance, €
The minimum balance is EUR 1 000 000
Transactions permitted per month
For settlement accounts, the number of transfers allowed per month is not limited
Initial deposit of funds, €
Down payment is equal to minimum balance
Deadline for the initial deposit, month
To be entered within 3 months
How fast payments are executed
Standard payment before11.30 a.m. (CET) – next day value. Express payment before 11.30 a.m. (CET) – same date value
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Tariffs and services
1
Outcoming transfer, €
1
Incoming transfer, €
65
Account maintenance, €/year
N/A
Payment limit for credit cards, €/day
Outcoming transfer, €
Internet postings initiated by the customer - EUR 0,30
Incoming transfer, €
Internet postings initiated by the customer - EUR 0,30
Account maintenance, €/year
The quarterly account maintenance fee - EUR 16,19
Distant access to the account
There is remote account management in place, carried via online banking system. You can make payments and manage your portfolio online
Financial products
Current and savings accounts; Cash Management (payments and exchange transactions); credit cards; Asset & Wealth Management (investment portfolios); deposits; safe deposit box rent; remote account management
Credit/debit cards
Maestro
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
Visit to the bank is required
Required
Standard set of corporate documents under apostille. Original passport
Types of accounts
Savings; Current
Chances to open an account
Predictable
Business description
The bank has standard requirements towards the business description: you should tell about the establishment and current sttus of your business; disclose the source of financing and provide the beneficiary's CV and contact information
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