TD Bank

Beginning of cooperation Last contact Last update
May, 2014 October, 2017 October, 2014

GSL reference about the bank

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Advantages:
== remote account opening (i.e. without visit to the bank)
== the signatory to the account need not have a US social security number or tax ID number or other links to the US
== a classic settlement bank, i.e. has no requirements for a minimum balance or restrictions on the number of transactions
== low rates, internet banking
Disadvantages:
== for US incorporated companies only
== ... and therefore for companies necessarily registered with the US Inland Revenue Service, having an EIN (employer identification number) and, consequently, required to prepare and file accounts in the US

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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 N/R
    Year of foundation 1852
    History First opened in 1852 as Portland Savings Bank. Through a series of mergers it became Peoples Heritage Bank in 1983 and some time later took the name Banknorth. It was acquired by TD Bank Group in 2007 as TD Banknorth and was rebranded as TD bank in 2008. Currently, one of the 10 largest banks in the US
    Personnel The bank has more than 27 000 staff
    Bank’s shareholders TD Bank Group
    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

    Minimum balance, € Transactions permitted per month Initial deposit of funds, € Deadline for the initial deposit, month Minimum turnover, €/year
    1 100 1 No restrictions
    Transactions permitted per month There are no restrictions as to the number of transactions
    Initial deposit of funds, € The initial deposit is the minimum balance
    Deadline for the initial deposit, month Within first month
    Minimum turnover, €/year There are no restrictions as to the minimum turnover

    Tariffs and services

    Outcoming transfer, € Incoming transfer, € Account maintenance, €/year Payment limit for credit cards, €/day Funds to be blocked for CC issue, €
    30 15 N/A N/A N/A
    Outcoming transfer, € The fee for domestic payments is USD 25, for international ones – USD 40
    Incoming transfer, € The fee for incoming payments is USD 20
    Account maintenance, €/year No fee is charged for account opening
    Distant access to the account Internet Banking. After the account is opened, the bank sends to the client the account details and the guidelines for connection to Online Banking at the bank’s website where the client needs to register
    Financial products The bank offers a good variety of banking products
    Credit/debit cards A Debit Card is issued at the time of account opening

    Account opening procedure

    Days to open for incoming transfers Days to open for outcoming transfers References Business description Purpose of the account
    10 10 Not necessary Detailed Current
    Visit to the bank No visit to the bank is required
    Required A standard set of corporate documents. Two ID documents (passport and driving license) need to be provided for the company’s owner
    Types of accounts Personal; Corporate; 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 Business description, details of turnover and expected destinations of payment need to be provided
     
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