How to open a bank account in MULTIBANK

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

June, 2008

Last contact

April, 2024

Last update

October, 2023
  • the bank opens checking and savings accounts;
  • an account can be opened without travelling to Armenia;
  • there are no minimum balance requirements;
  • the term for opening an account – case by case (check with the consultant);
  • the bank does not open accounts for Gambling, Forex, Crypto, Adult content, Weapon sector, Dating, Payment systems and other financial institutions;
  • there are restrictions on jurisdictions (check with the consultant)
GSL rating
Beginning of cooperation
June, 2008
Last contact
April, 2024
Last update
October, 2023
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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
2001
History
Founded in 2001
Personnel
Communication with staff is in English
Confidentiality
Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; AML legislation is strictly observed
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    Minimum requirements

    Minimum balance, €
    Transactions permitted per month
    0
    Initial deposit of funds, €
    0
    Deadline for the initial deposit, month
    Transactions permitted per month
    No restrictions on the number of transfers
    Initial deposit of funds, €
    There are no minimum balances and initial ring requirements
    Minimum turnover, €/year
    No turnover restrictions
    How fast payments are executed
    Same day or next day

    Tariffs and services

    200
    Outcoming transfer, €
    0
    Incoming transfer, €
    526
    Account maintenance, €/year
    N/A
    Payment limit for credit cards, €/day
    Outcoming transfer, €
    External transfer (AMD) - 0,125% (min AMD 5 000, max AMD 100 000). External transfer (T+1) - 0,4% (min AMD 40 000, max AMD 140 000). External transfer (T+2) - 0,3% (min AMD 40 000, max AMD 110 000).

    External transfer Same day - AMD 60 000 (~ EUR 105) in addition to the cost of outgoing payment
    Incoming transfer, €
    The Bank does not charge a fee for incoming transfer
    Account maintenance, €/year
    Account maintenance fee is AMD 300 000 (~ EUR 526)
    Distant access to the account
    Internet Banking. USD Token - AMD 24 000 (~ EUR 46)
    Financial products
    The bank offers a full range of banking services for corporate and private clients. Opening accounts for non-resident companies of the Republic of Armenia. Settlements with foreign counterparties. Placement of funds on time deposits. Current account balances. Lending to foreign companies and holdings secured by a deposit provides an opportunity to reinvest funds both in the RA and abroad. Development of comprehensive service capabilities for wealthy private clients - owners and managers of international businesses
    Credit/debit cards
    VISA BUSINESS Debit card AMD/USD, AMD/EUR, Multy currency

    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
    Current
    Visit to the bank
    A visit to the Bank is not required
    Required
    Completed bank forms. Passport and proof of address (no more than 6 months old). Reporting for the last year. Certificate of good standing / incumbency indicating directors, shareholders, addresses (not more than a year old). The documents of the first shareholders. Business ownership scheme. Trust documents (if any in the chain of ownership). Detailed description of the company's activities. The site of the company. Existing contracts (for which payments are planned). Sites of the main contractors. Statements of current accounts of the company for the last year (with indication of counterparties and purpose of payments)
    Types of accounts
    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
    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 Armenia

    Bank
    The cost of opening an account, $
    Global rating
    Countrywide rating
    GSL rating
    2 500
    N/A
    N/A
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