How to open a bank account in INTERPROGRESSBANK

GSL reference about the bank What is it?

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GSL rating

rating

Beginning of cooperation

January, 2025

Last contact

February, 2025

Last update

February, 2025
  • the bank was established in 1973 as Krasnogvardeysky branch of Gosbank of the USSR, Moscow;
  • the bank opens current and savings (deposit) accounts;
  • the bank opens accounts not only for Russian companies but also for foreign companies, that is those incorporated OUTSIDE the Russian Federation (RF);
  • original documents of a foreign company that are provided shall be legalized / apostilled and have a notarized translation into Russian;
  • there is no requirement regarding the minimum account balance;
  • tax registration in the RF and director’s visit to the bank’s office are required to open an account; it is also possible to open an account by power of attorney issued to the account signatory;
  • it is possible to make international payments in a foreign currency; available currencies: CNY, USD, EUR, AMD, UZS, KZT, BYN;
  • no fee is charged for incoming payments in a foreign currency;
  • it issues bank cards;
  • there is online banking;
GSL rating
rating
Beginning of cooperation
January, 2025
Last contact
February, 2025
Last update
February, 2025
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General information and rating
General information and rating

Not rated
Global rating
Not rated
Countrywide rating
Countrywide rating of the head bank
Global rating of the head bank
Year of foundation
1973
History
The bank started its operations in 1973
Personnel
The staff communicates in Russian and speaks English
Bank’s shareholders
The main shareholders of JSC InterProgressBank are Valery Markelov and Alexey Krapivin, each of whom owns a 28.67% stake in the financial institution. Another 2 major shareholders are Boris Usherovich and his wife Elena. Their shareholdings amount to 14.97% and 13.71% respectively
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    Minimum requirements
    Minimum requirements

    0
    Minimum balance, €
    No restrictions
    Transactions permitted per month
    0
    Initial deposit of funds, €
    0
    Deadline for the initial deposit, month
    Minimum balance, €
    No minimum account balance requirement
    Transactions permitted per month
    No restrictions on the number of transactions
    Initial deposit of funds, €
    No down Initial deposit requirement
    Minimum turnover, €/year
    No turnover restrictions
    How fast payments are executed
    Same day or next day

    Tariffs and services
    Tariffs and services

    75
    Outcoming transfer, €
    0
    Incoming transfer, €
    0
    Account maintenance, €/year
    N/A
    Payment limit for credit cards, €/day
    Outcoming transfer, €
    The fee for outgoing payments in a foreign currency shall be set in agreement with the bank (for USD the minimum is USD 40, for EUR the minimum is EUR 75, for CNY the minimum is CNY 300, for other currencies the minimum is USD 40)
    Incoming transfer, €
    No commission is charged for incoming transfers in foreign currency
    Account maintenance, €/year
    1% of the amount exceeding RUB 30 000
    Distant access to the account
    Business-Online system
    Financial products
    Key lines of business - lending and servicing of accounts of commercial enterprises, attracting deposits from individuals, operations in the interbank and securities markets
    Credit/debit cards
    Bank cards can be issued

    Account opening procedure
    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 & current
    Visit to the bank
    Account opening requires tax registration in the Russian Federation and a visit of the director to a bank branch; it is also possible to open an account with a power of attorney for the account manager
    Required
    List of corporate documents of a foreign company required to open an account with a Russian bank:

    - Certificate of Incorporation;
    - Memorandum and Articles of Association;
    - Certificate of Good Standing;
    - Extract from the Registrar (Certificate of Incumbency);
    - Certificate of registration of legal entity with tax authority of the Russian Federation (certificate of taxpayer identification number; see information below on registration of a foreign organization with a tax inspectorate of the RF);
    - Documents proving powers of the sole (collective) executive body of the legal entity;
    - Power of attorney (in the case of opening an account by power of attorney); the text of the power of attorney must be approved by the bank;
    - Identification document of the sole executive body (individual) of the legal entity, persons authorized to manage money in the bank account, and other representatives of the legal entity;
    - Notarized specimen signature and seal card.

    The list is not exhaustive and may change depending on the country of the foreign company’s incorporation and the chosen bank. Banks reserve the right to request any additional documents and information
    Types of accounts
    Savings; Current
    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

    Banks of Russia

    Bank
    The cost of opening an account, $
    Global rating
    Countrywide rating
    GSL rating
    1 500
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    1 500
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    1 500
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