How to open a bank account in MKB Bank, Zrt

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October, 2016 December, 2021 March, 2021

GSL reference about the bank

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Primary requirements:
- the bank opens current and deposit accounts;
- a visit to the bank is required to open an account;
- there are no requirements for minimum balances, however, it is necessary that the account has an amount debited monthly for service (18 EUR per month);
- as an initial payment, you must pay an amount of 39,000 HUF (Compliance service fee);
- the term for opening an account - case by case (check with the consultant);
- the bank does not work with citizens and companies registered in Syria, North Korea, Somalia and Congo

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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 1950
    History MKB Bank was founded in 1950 with the aim of providing banking services related to Hungary's foreign trade. In 1987, following a reform to create a two-tier banking system in Hungary, MKB Bank received a full banking license
    Personnel There is a Russian-speaking staff
    Bank’s shareholders Blue Robin Investments S.C.A - 45%, Metis private equity - 45% и Pannonia pension fund - 10%
    Confidentiality Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; 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
    0 No restrictions No restrictions 0 No restrictions
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    Minimum balance, € There are no requirements for the minimum balance, but it is necessary that the amount for the monthly account maintenance payment was on the account to be debited (18 EUR every month)
    Transactions permitted per month No limit on the number of transfers
    Initial deposit of funds, € When opening an account, you must pay an amount - 39,000 HUF as a fee for Compliance services when opening an account
    Deadline for the initial deposit, month When you activate your account
    Minimum turnover, €/year No restrictions on turnover
    How fast payments are executed Payments (SEPA) in the EU (EUR) are processed within one day. In other currencies (USD, etc.) - within two days

    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, €
    110 30 204 650 N/A
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    Outcoming transfer, € Outgoing payments are charged from 0.10 to 0.2896% (minimum 246 to 696 HUF, maximum up to 6000 HUF)
    Incoming transfer, € The fee for incoming payments is 0.06% (minimum EUR 4.5, maximum EUR 115)
    Account maintenance, €/year Account maintenance fee is 17 EUR per month
    Payment limit for credit cards, €/day The payment limit is 650 EUR per day (cash) and 3,200 EUR (purchases). The limit can be increased by agreement with the bank up to 5,000 EUR for both positions
    Distant access to the account TeleBANKar, NetBANKar, PCBankar, MobilBANKar
    Financial products The bank offers a full range of personal banking services, including deposit and current accounts, debit cards
    Credit/debit cards The bank offers only debit cards: MasterCard Unembossed (HUF, EUR); VISA Business (HUF, USD); MaasterCard Silver (HUF, USD, EUR); VISA Business Gold (HUF, USD)

    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 needs 1 week to approve documents with the Compliance department. Then there is a meeting with the client. A personal visit of the client to the bank is required
    Required Required documents: bank forms, copies of ID and proof of address of residence, copies of a standard set of corporate documents, a description of the business and the source of funds. After approval of Compliance documents, it will be necessary to provide original documents with apostille. If the company is older than 1 year, a CGS is required. Business advice is not required, but desirable. The bank will require any missing document in writing by mail (registered mail), therefore the exact address of the client is required
    Types of accounts Personal; Corporate; Savings; Current
    Chances to open an account Predictable
    Business description Detailed: along with a description of the business, it is necessary to provide information on the sources of origin of funds and the nature of operations
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