How to open a bank account in RCB BANK LTD (Luxembourg)

GSL reference about the bank What is it?

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Relationship was terminated

24 March, 2022 RCB Bank Ltd has taken a decision to transform the Bank into a regulated asset management company, shifting away from banking operations, which will be phased out

Relationship was terminated

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+44 0 207 822 85 93

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

1995

History

The history of the development of the head bank begins with the opening of a branch in Beirut by the Moscow People's Bank of the USSR in 1963 - the largest financial and business center in the Middle East at that time. With the aggravation of the political situation in the Middle East in 1989, the bank branch was transferred to Cyprus, and subsequently the branch was transferred to the balance sheet of Vneshtorgbank. The beginning of a new stage in the bank's development was August 1, 1995. On this day, on the basis of the branch, the Russian Commercial Bank (Cyprus) was established and a license from the Central Bank of the Republic of Cyprus was obtained to carry out banking activities. Since the accession of the Republic of Cyprus to the European Union in 2004, Russian Commercial Bank (Cyprus) has been functioning as a full-fledged European bank. In October 2010, Russian Commercial Bank (Cyprus) opened new branches in Limassol and Nicosia. In November 2013, it changed its name to RCB BANK LTD. In April 2014, a branch of RCB BANK was opened in Luxembourg

Personnel

There are Russian-speaking staff

Bank’s shareholders

VTB Group

Confidentiality

Double Taxation Agreement with Russia is signed; AML legislation is strictly observed; Active member of OECD, FATF, Basel Commitee, Egmont Group etc.

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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

There are no restrictions on the allowed number of transfers

Initial deposit of funds, €

No down payment requirements

Minimum turnover, €/year

There are no restrictions, but if there is no receipt of funds to the account for a long time, the bank has the right to close the account

Tariffs and services

75

Outcoming transfer, €

0

Incoming transfer, €

240

Account maintenance, €/year

20 000

Payment limit for credit cards, €/day

Outcoming transfer, €

Transfer fee (SWIFT) is - 0.15% (minimum EUR 25 - maximum EUR 300). Transfer Fee (SEPA) is 5 EUR per transaction

Incoming transfer, €

The bank does not charge a fee for incoming payments (SWIFT / SEPA)

Account maintenance, €/year

The Bank does not charge a fee for opening and closing an account. Account maintenance fee is 240 EUR per year (60 EUR quarterly)

Payment limit for credit cards, €/day

The daily payment limit for cards is EUR 20,000

Distant access to the account

Internet banking (service is free) using OTP token (initial issuance of a token is free)

Financial products

The bank provides a full range of banking services. Brokerage services. Custody services. Individual trust management. Depersonalized metal accounts. Checkbooks and bank checks

Credit/debit cards

VISA debit and credit cards with annual service 50 EUR

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. A meeting of the beneficiary with a representative of the Bank is required

Required

Bank forms, copies of passports, company documents (for a corporate account), business description and source of funds (KYC). Documents for opening an account are signed only by the director, and not by the trustee and the beneficiary. Copies of passports and proof of address are required from all beneficiaries and directors

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 the description of the business, it is necessary to provide information on the sources of origin of funds

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