How to open a bank account in KYBank

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August, 2019 December, 2021 May, 2021

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
    Not rated Not rated N/R
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    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

    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
    15 000 No restrictions 0 N/A No restrictions
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    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

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    Outcoming transfer, € Incoming transfer, € Account maintenance, €/year Payment limit for credit cards, €/day Funds to be blocked for CC issue, €
    250 250 0 N/A N/A
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    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

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    Days to open for incoming transfers Days to open for outcoming transfers References Business description Purpose of the account
    case by case case by case Not necessary Detailed Savings & current
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    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 Personal; Corporate; Savings; 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 Moderately detailed: along with a description of the business, it is necessary to provide information on the sources of origin of funds
     
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