How to open a bank account in KYBank

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

August, 2019

Last contact

October, 2022

Last update

September, 2022
GSL rating
Beginning of cooperation
August, 2019
Last contact
October, 2022
Last update
September, 2022
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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
2018
History
The bank received a license in October 2018
Personnel
There are Russian-speaking staff
Bank’s shareholders
Founded by former bankers from the world's largest banks
Confidentiality
AML legislation is strictly observed
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    Minimum requirements

    15 000
    Minimum balance, €
    No restrictions
    Transactions permitted per month
    0
    Initial deposit of funds, €
    N/A
    Deadline for the initial deposit, month
    Minimum balance, €
    Minimum account balance - 15,000 USD
    Initial deposit of funds, €
    Down payment is equal to the minimum account balance
    Minimum turnover, €/year
    No restrictions on turnover

    Tariffs and services

    250
    Outcoming transfer, €
    250
    Incoming transfer, €
    0
    Account maintenance, €/year
    N/A
    Payment limit for credit cards, €/day
    Outcoming transfer, €
    SWIFT: 0.75% of amount sent (min. fee 50 in any currency, except HKD/CNH; max. fee 950 in any currency, except HKD/CNH). SEPA: 0.50% of amount sent (min. fee 10 in any currency, except HKD/CNH; max. fee 500in any currency, except HKD/CNH)
    Incoming transfer, €
    0.50% of amount received (min. fee 10 in any currency, except HKD/CNH; max. fee 500 in any currency, except HKD/CNH
    Account maintenance, €/year
    The monthly service fee is free. The bank charges USD 1,000 for opening an account after the approval procedure
    Distant access to the account
    24 Hour Online Banking
    Financial products
    In addition to personal and corporate current and savings accounts, the Bank offers card services and credit accounts. It is the first licensed bank in the world with its own cryptocurrency exchange. In the future, banking services will also be offered to partner exchanges. In addition to traditional loans, the Bank also offers P2P loans secured by cryptocurrencies and digital assets. It is one of the first banks in the world to offer custody and custody services for crypto and digital assets. They are protected in accordance with banking standards. The Bank's wallets are insured and integrated with the online banking infrastructure to provide transaction alerts, risk checks and fraud protection
    Credit/debit cards
    The bank offers Mastercard / UnionPay card, including for corporate accounts (through a third-party provider)

    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
    The bank is completely digital, which means that no visit is required and a telephone interview with a client is only necessary if the client is considered high-risk
    Required
    Completed bank forms; copy of the client's passport; standard set of corporate documents
    Types of accounts
    Savings
    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
    Moderately detailed: along with a description of the business, it is necessary to provide information on the sources of origin of funds

    Banks of Caymans

    Bank
    The cost of opening an account, $
    Global rating
    Countrywide rating
    GSL rating
    2 200
    N/A
    N/A
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