Union Bancaire Privée, UBP SA

Beginning of cooperation Last contact Last update
January, 2002 October, 2017 October, 2014

GSL reference about the bank

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Technically, our cooperation with the bank began in 2002, after the de Picciotto family's UBP bank acquired another private Swiss bank – the Recanati family's DBTC (Discount Bank and Trust Company), which already had been in the Russian market for more than five years.
Since the new shareholder stepped in, the bank’s policy has changed and the minimum balance has increased, though remained comparable with other Swiss financial institutions.
The bank still has a department working with Russian-speaking clients 
 

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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
    697 21 N/R
    Year of foundation 1969
    History Founded in 1969 by financier Edgar de Picciotto. The de Picciotto family has headed the bank’s management for 40 years now. The bank is an active market player and over the years acquired a number of existing Swiss financial institutions, the most recent acquisition being that of the Swiss subsidiary of ABN AMRO. It has over CHF 60 billion under management. As Union Bancaire Privée, UBP was established in March 1990 following the merger of TDB American Express Bank (founded in 1956) and Compagnie de Banque et d'Investissements (founded in 1969). It changed its name to Union Bancaire Privée in April 1992. In June 1993 it acquired Cambio + Valoren Bank and in December that year – Nordfinanzbank. It took over Nordfinanz Bank Zürich in June 2001 and Discount Bank and Trust Company (founded in 1952) in June 2002. The bank changed its name to the current one in December 2009 and took over ABN AMRO Bank (Switzerland) AG in December 2011
    Personnel The bank has over 1400 staff. There are 7 Russian-speaking employees
    Bank’s shareholders CBI Holding SA (Geneva Switzerland) - 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

    Minimum balance, € Transactions permitted per month Initial deposit of funds, € Deadline for the initial deposit, month Minimum turnover, €/year
    400 000 5 400 000 3
    Minimum balance, € The minimum balance is CHF 500 000
    Transactions permitted per month 5 transactions per month are permitted. Commercial activity in the account is undesirable
    Initial deposit of funds, € The initial deposit is CHF 500 000, however the bank does not set strict requirements for this
    Deadline for the initial deposit, month If no transfer is made within three months, the bank blocks the account
    How fast payments are executed 1-2 days

    Tariffs and services

    Outcoming transfer, € Incoming transfer, € Account maintenance, €/year Payment limit for credit cards, €/day Funds to be blocked for CC issue, €
    22 0 500 10 000 10 000
    Outcoming transfer, € CHF 30 (not including correspondent bank fees)
    Incoming transfer, € 0.5% - cash withdrawal fee
    Account maintenance, €/year CHF 500 per year
    Payment limit for credit cards, €/day The payment limit is set by clients themselves. It is normally from CHF 10 000, but Switzerland has a restriction on cash withdrawals – not more than CHF 1000 per day
    Funds to be blocked for CC issue, € The bank blocks an amount equal to the monthly payment limit. The insurance coverage fee – 1% per year. Credit cards are only issued if the balance of account is over 300 000
    Distant access to the account The account can be viewed (via internet), but cannot be operated. There is no fee for the internet system though
    Financial products The entire range of investment banking products (from deposits to hedge funds). The issue of commercial banking products is limited
    Credit/debit cards All major payment systems, including Travel Cash Card (TCC) (anonymous card for cash withdrawals and restricted non-cash payments)

    Account opening procedure

    Days to open for incoming transfers Days to open for outcoming transfers References Business description Purpose of the account
    14 14 Not necessary Detailed Savings
    Visit to the bank Not required, but it is still preferable to meet the banker, for example on his visit to Moscow which on average happens once a month
    Required A set of corporate documents, passport copy. Reference letters are not obligatory, but preferable
    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; It is possible to open an account without meeting the banker
    Chances to open an account Predictable
    Business description The bank needs the answer to the question about economic justification of the origin of funds. The bank is sensitive about the client’s being mentioned in mass media
     
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