GSL / Offshore and International Law / Offshore Banking / TakarékBank Zrt

How to open a bank account in TakarékBank Zrt

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June, 2016 December, 2021 March, 2021

GSL reference about the bank

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Primary requirements:
- the bank opens checking and savings accounts;
- an account can be opened only with a personal visit to the bank;
- minimum balance requirements - 140 EUR;
- the term for opening an account - case by case (check with the consultant);
- accounts are opened in Forint, EUR and USD

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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 2018
    History The bank was founded in 2008
    Personnel The staff speaks Hungarian and English
    Bank’s shareholders Magyar Takarek Befektesi es VaguongazdalkodasiZrt. - 54.83%;
    Slovenkezeti Kreditinokete - 44.95%; Other Owners - 0.22%
    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
    140 No restrictions 140 1 No restrictions
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    Minimum balance, € The bank does not have requirements for a minimum account balance, however, the client is asked to deposit 140 EUR upon opening an account, from which the account maintenance fee will subsequently be made
    Transactions permitted per month The number of transfers is not limited
    Initial deposit of funds, € Down payment is equal to the minimum balance
    Deadline for the initial deposit, month When opening an account
    Minimum turnover, €/year No restrictions on minimum turnovers
    How fast payments are executed Payments (SEPA) to 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, €
    123 100 125 800 N/A
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    Outcoming transfer, € Transfer fee is 0.2% (minimum EUR 10) + 0.3% (government fee) (maximum EUR 23)
    Incoming transfer, € The fee for incoming payments is 0.2% (minimum 5 EUR)
    Account maintenance, €/year Account maintenance fee is 10.4 EUR per month
    Payment limit for credit cards, €/day The payment limit is 800 EUR per day (cash) and 800 EUR (purchases). The limit can be increased by agreement with the bank
    Distant access to the account There is a NETBANK system
    Financial products The bank offers a full range of personal banking services, including deposit and checking accounts, debit cards, ESCROW accounts128 / 5000 The bank offers a full range of personal banking services, including deposit and checking accounts, debit cards, ESCROW accounts
    Credit/debit cards The bank only offers debit cards. The card can be issued only 3 months after opening the account

    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 Necessary Detailed Savings & current
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    Visit to the bank A visit to the bank is required. The bank needs 1-1.5 weeks to approve documents with the Compliance department. Then there is a meeting with the client.
    Required Required documents: bank forms, copies of ID and proof of address of the place of residence, copies of a standard set of corporate documents, a description of the business and the source of funds. Business reference required. For KYC, documents must be translated into Hungarian (official translation). 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. 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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