How to open a bank account in Zapad Banka

GSL reference about the bank What is it?

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GSL rating

rating

Beginning of cooperation

September, 2018

Last contact

December, 2024

Last update

June, 2024
  • the bank opens settlement (operational) personal and corporate accounts;
  • the procedure for opening an account must be preceded by a meeting / interview with representatives / beneficiaries of the company;
  • to open an account, a meeting with a bank representative is required, which can be held in Montenegro, Ukraine, Vienna and Riga;
  • there are no requirements for minimum balances;
  • the bank does not work with offshore jurisdictions;
  • the term for opening an account – case by case (check with the consultant);
  • to open an account, the company must meet the following requirements: reporting is required in the country of registration; income tax is paid in the country of registration; the company’s office is located in the country of registration (confirmation is the presence of ownership or an office lease agreement, the fact of payment of rent payments, the presence of a plate with the name of the company next to the entrance).
GSL rating
rating
Beginning of cooperation
September, 2018
Last contact
December, 2024
Last update
June, 2024
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General information and rating
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
2015
History
Zapad Banka was founded on February 24, 2015
Personnel
Bank staff - about 40 employees, speak English
Bank’s shareholders
Volodymyr Kostelman, Vadym Morokhovskyy, Liya Morokhovska
Confidentiality
Double Taxation Agreement with Russia is signed; AML legislation is strictly observed
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    Minimum requirements
    Minimum requirements

    Minimum balance, €
    Transactions permitted per month
    0
    Initial deposit of funds, €
    0
    Deadline for the initial deposit, month
    Initial deposit of funds, €
    No down payment requirements
    How fast payments are executed
    Standard translation - T + 2, urgent - T + 1, express - day to day

    Tariffs and services
    Tariffs and services

    25
    Outcoming transfer, €
    0
    Incoming transfer, €
    600
    Account maintenance, €/year
    N/A
    Payment limit for credit cards, €/day
    Outcoming transfer, €
    Transfer fee in EUR: standard - EUR 25 (SHA / BEN), EUR 35 (OUR); urgent - EUR 35 (SHA / BEN), EUR 45 (OUR); express - EUR 40 (SHA / BEN), EUR 50 (OUR).

    Transfer fee in USD: standard - 0,1% minimum EUR 70, maximum EUR 190 (SHA / BEN), 0,1% minimum EUR 80, maximum EUR 200 (OUR); urgent - 0,1% minimum EUR 80, maximum EUR 290 (SHA / BEN), 0,1% minimum EUR 90, maximum EUR 300 (OUR); express - 0,1% minimum EUR 90, maximum EUR 390 (SHA / BEN), 0,1% minimum EUR 100, maximum EUR 400 (OUR)
    Incoming transfer, €
    The Bank does not charge for incoming calls
    Account maintenance, €/year
    Preliminary examination of documentation (before opening an account) - EUR 200. Monthly account maintenance - from EUR 50 to EUR 150. Closing an account - from EUR 500 to EUR 1 000
    Distant access to the account
    Account management is carried out using free software for Internet banking
    Financial products
    The bank provides a wide range of financial services, including opening current accounts, deposits, bank guarantees, loans, Escrow accounts, asset management, etc.
    Credit/debit cards
    MasterCard, VISA

    Account opening procedure
    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
    Current
    Visit to the bank
    To meet with the bank representatives, you can go to the bank (Montenegro) or a meeting with the banker in Riga or Vienna
    Required
    To open an account with the Bank, you must provide the ORIGINALS of the company's registration documents (documents will be returned after opening an account within 2-3 weeks), including the current Certificate of Good Standing (not older than 3 months). All documents must be with Apostille.

    In addition, for the initial consideration of a potential client, it is necessary to provide an account statement from the bank in which the client has or had an account for a period of 6 months, if this period does not reflect the client's activities, then for a longer period
    Types of accounts
    Current
    Chances to open an account
    Predictable
    Business description
    Moderately detailed: along with a description of the business, it is necessary to provide information on the sources of origin of funds

    Banks of Montenegro

    Bank
    The cost of opening an account, $
    Global rating
    Countrywide rating
    GSL rating
    3 800
    N/A
    N/A
    3 800
    N/A
    N/A
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