/ / Incognito Bank (Denmark)

How to open a bank account in Incognito Bank (Denmark)

Relationship was terminated

GSL reference about the bank

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The history of our relationship with the bank is best illustrated by a famous saying ‘people make all the difference’. During almost fifteen years the work with the bank went on perfectly. It is difficult to imagine now, but we could GUARANTEE to a client who met the bank’s requirements that the account would be opened within 5 days. During those years we opened hundreds of accounts, with not more than five rejected applications (those in the know will definitely appreciate the percentage). The credit for that spectacular result goes to the head of the international department who held this post for nearly twenty years…
The summer of 2011 saw the inevitable event which we all so feared: the head of the department retired and the smoothly working mechanism immediately began to malfunction: with the new head of office the procedure was no longer transparent or predictable. We did not dare to predict success of the account application even in most obvious cases, with percentage of rejected applications ranging from 40% to 60%. And the procedure itself took two or three months.
In July 2014 the bank adopted a new dramatically different policy: it intends to focus on Scandinavian markets. It will therefore no longer open accounts for foreign companies and will close the existing accounts.
The relationship with the bank is terminated



 

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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
    149 2 30 AA-
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    Year of foundation 1990
    History Established 1990 as Unibank A/S through a merger between Andelsbanken/Danebank A/S, Privatbanken A/S and Sparekassen SDS A/S. In April 2000 the group Unidanmark, Unibank's parent company, announced their merger with the group MeritaNordbanken, which was formed in 1997 through a merger between the Finnish bank Merita Bank Plc and the Swedish bank Nordbanken AB (publ). In December 2000 the Norwegian bank Christiania Bank og Kreditkasse was integrated into the group, which operated during a transitional period under the name Nordic Baltic Holding, later renamed Nordea AB (publ). On December 3, 2001 the banks in the four Nordic countries changed their legal names and Nordea Bank Danmark A/S replaced the name Unibank A/S in Denmark. The holding company Nordea AB (publ) became in December 2001 the ultimate parent company of Nordea Securities AB, Nordea Asset Management AB, Nordea Life Holding A/S and Nordea Bank Finland Plc, which in turn was the parent company of Nordea Bank Danmark A/S, Nordea Bank Norge ASA and Nordea Bank Sweden AB (publ). In June 2003 Nordea Bank Danmark A/S and Nordea Bank Sweden AB (publ), and in October 2003 Nordea Bank Norge ASA, were transferred from Nordea Bank Finland Plc to Nordea AB (publ) by way of internal sale. The parent company, Nordea AB (publ), was granted a bank charter and thus changed its name to Nordea Bank AB (publ) as of January 30, 2004. Nordea Bank Sweden AB (publ) and Nordea Securities AB merged into Nordea Bank AB (publ) on March 1 and May 3, 2004 respectively. On May 29, 2006 Nordea Investment Management Bank merged into the above. On May 1, 2010 Fionia Bank A/S merged into the above
    Personnel The bank has a Russian-speaking officer. The rest of the 11 staff speak major European languages
    Bank’s shareholders Nordea Bank AB (publ), Stockholm (Sweden) - 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
    5 000 1 No restrictions
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    Transactions permitted per month There are no restrictions as to the number of transactions
    Initial deposit of funds, € The initial deposit of either USD 5 000 or EUR 5 000 is required to activate the account. This amount is not blocked and the client is free to use it as he chooses
    Deadline for the initial deposit, month The initial deposit must be made into the account within 1 or 2 months
    Minimum turnover, €/year There are no requirements as to the minimum turnover
    How fast payments are executed The bank has a few types of payment the execution of which varies in urgency from 1 to 4 business days. The banking days is from 11.00 to 17.30 (Moscow time)

    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, €
    40 6 150 800 10 800
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    Outcoming transfer, € The outgoing express payment with next day value – EUR 40 (EUR 60 if the payment order is sent via fax), the ordinary transfer with third day value – EUR 6 (EUR 25 if the payment order is sent via fax). Payment confirmation by email – EUR 35
    Incoming transfer, € The fee on incoming transfers is EUR 6
    Account maintenance, €/year The bank charges a fee for internet banking system of appr. EUR 150 per year. The connection fee is EUR 40
    Payment limit for credit cards, €/day The payment limit is EUR 800 per day, the monthly payment limit can vary from EUR 5 400 to 20 000
    Funds to be blocked for CC issue, € The insurance coverage must be double the card payment limit and varies from EUR 10 800 to 40 000
    Distant access to the account 1) faxed code word; 2) UniTel system which allows to operate the account and produce bank statements
    Financial products Letters of credit, acceptance of cheques for payment
    Credit/debit cards The bank issues all types of cards in major payment systems: American Express, MasterCard, Visa
    Hold mail The bank statements are sent to the address designated by the client

    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
    28 28 Necessary Detailed Current
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    Visit to the bank No visit to the bank is required
    Required A copy of internal or international passport. A reference letter (can be faxed) from recognizable Russian (western) partners or clients, as well as a reference letter from any Russian bank (we assist in obtaining one)
    Types of accounts 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 meeting the banker
    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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