Incognito Bank 001 (Austria)

Beginning of cooperation Last contact Last update
October, 2001 October, 2017 October, 2014

GSL reference about the bank

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This bank is a classic example of a low-profile bank. It does not seek to advertise itself and, granting the bank’s wish, we do not mention its name in the bank’s profile. The name of the bank will be disclosed to you at a personal meeting.

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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
    3 648 79 N/R
    Year of foundation 1922
    History Founded in the middle of the 20th century by two distinguished Austrian families of entrepreneurs. In the mid 1990s the bank established a large number of Austrian private foundations designed to preserve family wealth. Beside the client base in Austria the bank serves clients from Central and Eastern Europe, Germany, and Latin America. It also has local subsidiaries in Czech Republic (Prague) and Hungary (Budapest)
    Personnel The bank’s staff have long years of experience of working with Eastern European clients. They have knowledge and understanding of the local market. Each client has a relationship manager. Russian-speaking officers are available
    Bank’s shareholders The majority of shares (80%) is held by one of the founding families. The senior managers also hold shares as partners.Gutmann Holding AG (Switzerland) - 80,12%; Partners - 19,88%
    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

    Minimum balance, € Transactions permitted per month Initial deposit of funds, € Deadline for the initial deposit, month Minimum turnover, €/year
    40 000 N/A 40 000 1
    Minimum balance, € The minimum balance of the account is 50 000 USD
    Transactions permitted per month Daily transactions in the account are permitted
    Initial deposit of funds, € The initial deposit is 50 000 USD
    Deadline for the initial deposit, month The initial deposit needs to be made within the first month
    How fast payments are executed Value date – two banking days. Urgent payments are available

    Tariffs and services

    Outcoming transfer, € Incoming transfer, € Account maintenance, €/year Payment limit for credit cards, €/day Funds to be blocked for CC issue, €
    125 0 N/A N/A 13 600
    Outcoming transfer, € Tariffs are high, which is typical of Austrian banks. In the case of significant account balance and large annual turnover, transfer fee can be reduced
    Account maintenance, €/year Interest on deposits 1-3%. Conversion - 0.25%
    Funds to be blocked for CC issue, € 17 000 USD
    Distant access to the account Fax with code word (variants are possible). "On-line reporting” system – it is possible to browse a flow of funds through the Internet
    Financial products The bank is ready to provide any banking products for their clients such as investment funds, cheque books, guarantee letters, credit against the deposit. The bank also provides structured consulting services; it is possible to discuss projects with bank’s chief executive
    Credit/debit cards VISA, MasterCard
    Hold mail Bank statements are sent by ordinary post, fax, e-mail or kept at the bank

    Account opening procedure

    Days to open for incoming transfers Days to open for outcoming transfers References Business description Purpose of the account
    14 14 Necessary Detailed Savings
    Visit to the bank Personal interview with a potential client for the account opening is obligatory
    Required Copy of international passport. For corporate clients – plus incorporation documents of the company, signatory card certified by notary (bank card of Russian sample is possible). It is advisable to provide brochures, booklets and other information material about the company
    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 The business description should be relatively detailed: the account of how the business was established and where it stands now, origin of funds, details of biography and contact details of the beneficial owner of the account
     
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