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

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GSL reference about the bank

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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
    1 905 9 N/R
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    Year of foundation 1992
    History A large Czech bank
    Personnel The bank’s staff speaks English, German, Czech, Polish, Russian, and other languages
    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

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    Minimum balance, € Transactions permitted per month Initial deposit of funds, € Deadline for the initial deposit, month Minimum turnover, €/year
    N/A N/A N/A N/A 6 000 000
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    Minimum turnover, €/year The bankers themselves indicate the annual turnover of at least CZK 300 000 000 (which is equivalent to approximately EUR 12 000 000). However, this is not a very rigid requirement, and variations are possible
    How fast payments are executed The fee for an earlier value date (to be agreed with the bank) is EUR 39

    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, €
    47 47 48 N/A N/A
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    Outcoming transfer, € The fee for intrabank transfers is EUR 6 (electronic transfer) and EUR 8 (payment instruction). For electronic transfers: SEPA payment (outgoing) of not more than EUR 50 000 – EUR 8 EUR, of more than EUR 50 000 – EUR 47. Other payments: SEPA payment (outgoing) of not more than EUR 50 000 – EUR 12, of more than EUR 50 000 – EUR 60
    Incoming transfer, € The fee for intrabank incoming transfers is EUR 6 (electronic transfer) and EUR 8 (payment instruction). SEPA payment (incoming) of not more than EUR 50 000 – EUR 8 EUR. Other incoming payments SHA/BEN, including SEPA, of more than EUR 50 000 – EUR 47
    Account maintenance, €/year Account maintenance fee is EUR 4 / USD 5 / RUR 160 per month. Opening and closing of account is free of charge
    Distant access to the account Internet banking. The client service is only available in English and Czech. Authorization to the bank can be given in two ways: by an SMS-code and by an electronic digital signature with a Certificate (a Token, a USB device similar to a flash-memory stick). Internet banking fee is EUR 4 per month. Token – EUR 40. Technical service to the client, where it is not the bank’s fault, costs EUR 12 per hour
    Financial products The bank offers a wide range of financial market services: trading of domestic and foreign securities; trading of all monetary instruments, including currencies; the bank’s key specialization is trading of shares and debentures; securities trading services are primarily oriented towards institutional investors. Bank’s corporate services include an entire complex of financial, operational and consulting services for medium-sized and large corporate clients (with the annual turnover of at least CZK 300 million), including all sorts of credit facilities. Private Banking for both corporate and individual clients
    Credit/debit cards MasterCard Electronic - Business (fee of EUR 2 per month); MasterCard Embossed - Business (fee of EUR 4 per month); MasterCard Gold - Business (fee of EUR 19 per month)
    Hold mail Bank statements can be provided via Homebanking, email, be delivered by hand, by post, or international courier service. The fee for daily EUR statements (when the account is active) is from EUR 0 to 20; weekly statements – from EUR 0 to 18; monthly statements – from EUR 0 to 16; quarterly statements – from EUR 0 to 12. For USD: daily statements (when the account is active) – from USD 0 to 26; weekly statements – from USD 0 to 24; monthly statements – from EUR 0 to 22; quarterly statements – from USD 0 to 18. For RUR: daily statements (when the account is active) – from RUR 0 to 960; weekly statements – from RUR 0 to 800; monthly statements – from RUR 0 to 560; quarterly statements - RUR 0 to 480

    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
    14 14 Not necessary Detailed Savings & current
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    Visit to the bank No visit to the bank is required. A meeting with a banker can be arranged during his visit to Moscow
    Required Completed bank forms; client’s passport copy; client’s CV; 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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