Novo Banco (Luxembourg)

Beginning of cooperation Last contact Last update
October, 2011 October, 2017 September, 2015

GSL reference about the bank

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    Bank's characteristics

    General information and rating

    Global rating Countrywide rating Countrywide rating of the head bank Global rating of the head bank Credit rating
    Not rated Not rated 3 193 BB-
    Year of foundation 2014
    History Novo Banco Luxembourg is a new structure of the Portugal’s oldest financial group which was formed as early as in 1920. The year 2014 saw the transfer of the group’s rights, assets and core business of Banco Espirito Santo to the new bank, Novo Banco. The bank has its main investments focused in Spain, Brazil and Angola, with representative offices and branches situated on 4 continents and in 25 countries
    Personnel The staff is mainly English-speaking
    Bank’s shareholders There is one only shareholder, called " Fundo de Resolucao", a state owned fund with a share capital of 4.900MEuro
    Confidentiality Double Taxation Agreement with Russia is signed; AML legislation is strictly observed; Active member of OECD, FATF, Basel Commitee, Egmont Group etc.

    Minimum requirements

    Minimum balance, € Transactions permitted per month Initial deposit of funds, € Deadline for the initial deposit, month Minimum turnover, €/year
    0 No restrictions 0 0 No restrictions
    Minimum balance, € No requirements for the minimum balance of account
    Transactions permitted per month No restriction as to the number of transfers
    Initial deposit of funds, € No requirements for the initial deposit
    How fast payments are executed 2 days, same-day payments are available

    Tariffs and services

    Outcoming transfer, € Incoming transfer, € Account maintenance, €/year Payment limit for credit cards, €/day Funds to be blocked for CC issue, €
    110 0 48 N/A N/A
    Outcoming transfer, € For SEPA payments: up to EUR 100 000 – free of charge; over EUR 100 000 – EUR 20. For other international payments: up to EUR 12 500 – free of charge; over EUR 12 500 – 0.25% (maximum EUR 110)
    Incoming transfer, € No bank charges on incoming transfers
    Account maintenance, €/year Account opening is free of charge. Account maintenance fee is EUR 48 per year. If the total of all deposits exceeds EUR 10 000, no account maintenance fee is charged. Account closure fee is EUR 30
    Distant access to the account The account is operated with the help of code cards. The bank also offers the service of sending an SMS with an authorization code for each transaction. The fee – EUR 8.5 per month
    Financial products The bank provides a wide range of banking and financial services, including retail and corporate banking, private banking, asset management, investments and loans
    Credit/debit cards VISA, Mastercard
    Hold mail Statement of account – EUR 2

    Account opening procedure

    Days to open for incoming transfers Days to open for outcoming transfers References Business description Purpose of the account
    21 21 Not necessary Detailed Savings & current
    Visit to the bank Not required, but it is recommendable to have a meeting with the banker on his next visit to Russia (3 or 4 visits per year)
    Required An apostilled set of constitutive documents, an apostilled certificate of good standing, copies of passports of the beneficial owner and account signatory
    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
    Chances to open an account Predictable
    Business description The bank requires a business description of the company which applies for account, source of beneficial owner’s funds, estimated annual turnover of accounts and estimated number and amount of transactions
     
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