GSL / Offshore and International Law / Offshore Banking / Unicredit Bulbank

How to open a bank account in Unicredit Bulbank

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

January, 2015

Last contact

August, 2022

Last update

August, 2022
  • the bank opens checking and savings accounts;
  • an account can be opened without leaving Bulgaria by meeting with a representative of the Bank in Moscow;
  • there are no minimum balance requirements;
  • the term for opening an account - case by case (check with the consultant);
  • the bank opens accounts for companies with any types of activity, as well as for Forex and Binary Options (if there is a license)
GSL rating
Beginning of cooperation
January, 2015
Last contact
August, 2022
Last update
August, 2022
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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
1964
History
1964 - Bulbank, 100% state owned, was founded as then Bulgarian Foreign Trade Bank (BFTB) with head office in Sofia. 1969-1985 - Representative offices of the Bank in London, Frankfurt and Vienna were opened. In 1998 the bank was reregistered as HypoVereinsbank Bulgaria GmbH. 2000 - Bulbank’s privatization was completed on October, 2nd with the transfer of the Bank Consolidation Company's shares to UniCredito Italiano S.p.A and Allianz AG, which acquired 93% and 5% of Bulbank's share capital. Bulbank sold its share participation in Corporate Commercial Bank (99,9%), as well as that in United Bulgarian Bank (35%) and in HypoVereinsbank Bulgaria (49%). 2005 - UniCredit Group announces merger with HVB Group. 2006 - The process of merger between Bulbank, HVB Bank Biochim and Hebros Bank starts. 2007 - On April 27 is announced the legal merger between Bulbank. HVB Bank Biochim and Hebros Bank. The name of the merged institution is UniCredit Bulbank
Personnel
English & Bulgarian
Bank’s shareholders
UnICredit Bulbank is part of the UniCredit group
Confidentiality
Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; AML legislation is strictly observed
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    Minimum requirements

    0
    Minimum balance, €
    No restrictions
    Transactions permitted per month
    0
    Initial deposit of funds, €
    No restrictions
    Deadline for the initial deposit, month
    Minimum balance, €
    The bank does not limit the number of transactions
    Transactions permitted per month
    Not required
    Initial deposit of funds, €
    Not required
    Minimum turnover, €/year
    No requirement for minimum turnover

    Tariffs and services

    50
    Outcoming transfer, €
    50
    Incoming transfer, €
    60
    Account maintenance, €/year
    N/A
    Payment limit for credit cards, €/day
    Outcoming transfer, €
    Fee for outgoing payments (electronic payment) is 0.10% (minimum EUR 10 - maximum EUR 200). Fee for outgoing payments (paper order) is 0.25% (minimum EUR 25 - maximum EUR 350)
    Incoming transfer, €
    The bank does not charge a fee for incoming payments
    Account maintenance, €/year
    Opening account - EUR 10. Closing accoumt - EUR 30. Monthly fee for maintenance - EUR 5-25
    Distant access to the account
    Electronic banking - pc banking system TeleBANK
    Financial products
    The Bank offers various cash management products and flexible opportunities for financing. UniCredit Bulbank is an active participant on the Bulgarian and international finance and capital markets.
    Credit/debit cards
    Maestro Business / VISA Busines Electron Debit Card / MasterCard Busines Card

    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
    Savings & current
    Visit to the bank
    It is possible to open an account without visiting the country where the bank is located
    Required
    Photocopies of constitutive documents of the company, photocopy of director’s/ attorney’s passport
    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
    Reasonably detailed: the bank would like to have the information on the sources of funds, together with the business description.

    Banks of Bulgaria

    Bank
    The cost of opening an account, $
    Global rating
    Countrywide rating
    GSL rating
    2 420
    N/A
    N/A
    2 420
    N/A
    N/A
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