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How to open a bank account in Société Générale Private Banking (Suisse) SA

Beginning of cooperation Last contact Last update
July, 2003 December, 2021 April, 2021

GSL reference about the bank

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Primary requirements:
- savings (investment) accounts;
- an account can be opened without leaving Switzerland, but a meeting with a banker who regularly visits Moscow is required;
- minimum account balance - 1,000,000 EUR;
- the term for opening an account - case by case (check with the consultant).

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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
    1 304 51 39 267 A
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    Year of foundation 1986
    History Established 1986 as Banque Cantrade Lausanne SA. On February 1, 1993 name changed to Cantrade Banque Privée Lausanne SA and on October 2, 1995, name changed to CBG Compagnie Bancaire Genève. The CBG, having acquired the Banque d'Investissements Privés (BIP), Geneva, in November 1997. Subsequently, it conducted a full integration of Fransad Investments et Gestion SA (FIG), Geneva, on December 31, 1997. On July 1, 1998 we siezed the opportunity to take control of Cantrade Banca Privata Lugano SA, the name changed to CBG Banca Privata Lugano, our majority stake being 70 p.c. On November 30, 2003 SG Rüegg Bank AG merged into CBG Compagnie Bancaire Genève and name changed as above
    Personnel The bank has Russian-speaking personnel
    Bank’s shareholders Société Générale Bank & Trust (Luxembourg) - 100%
    Confidentiality Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; AML legislation is strictly observed; Active member of OECD, FATF, Basel Commitee, Egmont Group etc.

    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
    1 000 000 N/A 500 000 3
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    Minimum balance, € The minimum deposit of 1 000 000 EUR needs to be made within two years
    Initial deposit of funds, € 500 000 EUR. On agreement with the bank, the initial deposit can be reduced
    Deadline for the initial deposit, month First 2-3 months
    How fast payments are executed Payments are normally executed within two days of the date of value, but cannot be executed same day

    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, €
    40 0 480 N/A N/A
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    Outcoming transfer, € transfer fee is 36 EUR for payments made to EU countries including Switzerland and 42 EUR for payments to other countries.
    Incoming transfer, € no fee for incoming transfers
    Account maintenance, €/year Opening an account is free. Administrative commissions cover the costs of maintaining an account, managing numbered accounts, storing correspondence and other costs of processing an operation and amounts to 0.175% (minimum - 300 CHF every six months; maximum - 6,000 CHF every six months)
    Distant access to the account The account can be operated via fax (with client’s signature), phone, and E-banking
    Financial products The bank offers a great variety of classic products: deposits, bonds, funds, futures, credits, bank guarantees, loans etc.
    Credit/debit cards Visa, MasterCards, American Express (USD, EUR, CHF)
    Hold mail Keeping the client's mail is covered by the maintenance fee.

    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
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    Visit to the bank Visit to the bank is not required because the bank’s representatives often visit Russia. The client can meet the bank officer in Russia or visit the bank at any convenient time
    Required Client’s passport, certain forms allowing to gather the necessary information about the client. For companies – passports, copies of constitutive documents
    Types of accounts Personal; Corporate; Savings
    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 Reasonably detailed: the client shall describe the nature of his/her business and disclose the source of funds.
     
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