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BENDURA BANK AG
Description
Bendura Bank company account
Requirements for opening a company bank account with Bendura Bank.
Documents to be provided by the company opening the account:
The following documents must be presented in a document package that has been apostilled by the Foreign & Commonwealth Office (FCO).
- Certificate of Incorporation
- M & A
- Subscribers Minutes
- First Minutes
- Share Certificate
- Declaration of Trust (where there is a nominee director / shareholder)
- Certificate of Incumbency if the company is more than 12 months old A Power of Attorney is required if the director is not the signatory.
Documents to be provided by individuals involved in the company:
For Shareholders above 20%, Directors, Beneficial Owners, Ultimate Beneficial Owners and Authorised Signatories:
Required Personal Documents
Signatories:
- Certified passport copy by Notary Public or lawyer*
- Copy of a bank statement or utility bill no older than 3 months confirming address (does not need to be certified)
Directors:
Valid, full passport – copy certified by Notary Public or lawyer* (no certification required if they are not signing on the account)
Shareholders:
Valid, full passport – copy certified by Notary Public or lawyer* (no certification required if they are not signing on the account)
If the Director / Shareholder is a company that is owned by the same beneficial owner of the company opening the account, please provide originals or certified copies of the following:
- Certificate of Incorporation
- Appointment of Directors or authorized signatories
- Passport copy of the Director or authorized signatory
- Share certificate
- Deed of Trust
If the company is owned by the beneficial owner of the company opening the new account, please provide the originals of the above mentioned documents. If there is a Nominee Director or Shareholder it is sufficient to provide copies (do not need to be certified).
*Please note that the name, address, bar number (for lawyers and notaries), company or practice name, telephone number, fax number, email address and web page (where applicable) must appear on the certified document.
Company bank account opening procedure – FAQs
Is a bank interview required?
No personal visit is required.
When the bank has received all necessary forms, documents and information, how long does it take to open the account?
2 weeks approx.
After the first account is opened, how long until the other currency accounts are opened if multiple currencies are required?
Once the main currency account is opened, additional currency accounts can usually be opened the same day.
Which currencies are available?
EUR, USD, GBP, CHF, RUB, JPY, CAD, NZD, AUD, DKK, CZK, SEK, TRL, NOK, ZAR, PLN, HUF
What is the exact procedure for notifying the client of account details, internet banking information and cards?
Corporate Business Centre receives the account details and gives them to the client. Internet banking information will be sent by TNT to the address quoted in the e-banking application form. The same with cards: when a client applies for a card he is asked to provide an address where the cards should be sent.
Cards provided by Bendura Bank
Travel Cash card
Presentation
A ‘Travel Cash card’ is available in Euro, USD or CHF. This is a Maestro and can be used abroad. Since this is a debit card, money leaves the account immediately.
The card is not bound to an account. It is always issued to an individual but the client is free to send the funds from a company account to the card account.
How it works
The Travel Cash card fees do not apply to the amount withdrawn but to the transaction. The fees per withdrawal are USD/CHF 5.00 or EUR 3.00. Valartis Bank does not charge any additional fees for using the card abroad. The card is a prepaid card which means that the client must transfer the funds to the card account first before he can withdraw them.
The card can just be loaded through an account with Valartis Bank . In order to issue a card Valartis Bank requires written instructions from the client with the following information:
- name of cardholder (no company name), if it is a corporate account card the holder must be a signatory on the account too
- residential address
- date of birth
- mailing address, name and telephone number of contact person
- initial amount to be loaded to the card
Fees
- Set-up Fee (one time):
- Annual Fee:
- Withdrawal Fee (ATM):
- Loading Fee:
CHF 300 (approx. 185 Euros)
CHF 200 (approx. 120 Euros)
EUR / USD 3.00 or CHF 5.00 per transaction depending on the card currency
1% of the loaded amount
Card can be loaded as follows:
- Single transfer to the card account upon written request:
- Standing Order:
loading fee plus wire transfer fee
loading fee plus wire transfer fee plus monthly handling fee of CHF 100.00 (approx. 60 Euros)
Maximum card balance to be maintained at any time is USD/ EUR/ CHF 10,000.
Annual maximum amount to be loaded to the card is USD/ EUR/ CHF 100,000.
Cards provided by Bendura Bank
Credit cards
Presentation
Valartis Bank issues credit cards in co-operation with a Swiss company named Viseca. The following credit cards are available through Viseca:
- Corporate Card: MasterCard in CHF & EUR
- Personal Card:
MasterCard/ VisaCard in EUR MasterCard/ Visa Card in USD
Please also view the Viseca’s web site www.viseca.ch to obtain further information concerning the conditions and services related to it.
How it works
Viseca requires Bendura Bank to guarantee the credit card. To enable the bank to process credit card applications clients should submit the following documents to Valartis Bank:
- undersigned credit card application
- undersigned “Deed of Pledge”
Upon receipt of documents Bendura Bank will place an amount which is equal to 110 % (min. USD/ EUR/ CHF 22,000) of your credit card limit as collateral into a separate account in your name. This account will be blocked and funds are not available to you. Bendura Bank will issue a guarantee in favour of Viseca and will forward the entire documentation to Viseca. The minimum credit card limit is USD/ EUR/ CHF 20,000. Please note that Bendura Bank accepts credit card applications only provided the client keeps a minimum balance of EUR/ USD 100,000 with the bank.
Fees
Processing fees for your card are as follows:
- Processing Fee:
- Guarantee Issuing Fee:
- Quarterly Provision for the Guarantee:
CHF 300.00 (approx. 185 Euros)
CHF 500.00 (approx. 310 Euros)
- % (of the guaranteed amount)
The credit card and PIN will be available within a period of two weeks and the client should advise how the bank should mail them.
Each month Viseca will mail a statement to the client with the transactions of the previous period. If the client indicates on the credit card application that mail should be kept with Valartis Bank please advise the bank in writing how to send the statement (by fax, regular mail etc.). It is also in the client’s personal interest to examine the credit card statement regularly. Mistakes must be reported within four weeks to Viseca only. At the same time the client will have to send the bank written instructions to pay his/her credit card bill directly from their account with Bendura Bank.
Services provided by Bendura Bank
Internet banking
This is a complete internet banking service allowing transactions to be made and balances and transactions to be viewed in all currencies.
Telephone banking
Available. See below for related charges.
Fax pay
Available. See below for related charges.
Card processing
Not currently available.
Transaction and service fees
Extract from the Bank’s Fee Schedule for Accounts
Accounts
Set up fee for new account relationship for individuals: CHF 500.00 (approx. 310 Euros). Initial deposit of 10,000 in the respective account currency is needed to activate the account. Minimum balance of USD/ EUR/ CHF 10,000 in the respective account currency required at all times.
- Maintenance Fee (annually):
- Account Closure:
- Debits / Credits (per item fee):
CHF 500.00 (approx. 310 Euros)
CHF 1,000.00 (approx. 620 Euros)
CHF 0.50 (approx. 0.30 Euros)
CHF 5.00 (approx. 3 Euros) min. per quarter
Wire Transfers
- % of principal amount
- Minimum Charge:
- Maximum Charge:
CHF 50.00 (approx. 30 Euros)
CHF 500.00 (approx. 310 Euros)
All wire transfers will be executed as regular SWIFT payments. If you require a fast payment please make a special note in your payment instructions. The following fees will apply for fast payments:
We reserve the right to charge 0.125 % without maximum (min. CHF 250.00) for incoming and outgoing wire transfers which relate to capital movements only (nonmaterial transactions).
- Wire Transfer Recall/Cancellation: CHF 50.00 (approx. 30 Euros)
Cheque clearing
Foreign cheque deposits are only accepted for investment purposes.
Miscellaneous
(Same as for the corporate accounts)
- Internet Banking:
(Annual Fee, charged semi-annually)
- Withdrawal/ Deposit in Foreign Currencies:
- Hold Mail (per annum):
- Pseudonym Account (per annum):
- Service Charge (per item fee):
Handling of special requests via e-mail, fax or telephone
- SWIFT Confirmation
Requested on the execution day
- SWIFT Confirmation
Requested later than on the execution day
- Bank Reference
- Due Diligence Fee for Guarantees, Shares, Bond Certificates, Letter of Credits, or any other documentary processing Fees
CHF 500.00 (approx. 310 Euros)
1.00%
CHF 100.00 (approx. 60 Euros)
CHF 100.00 (approx. 60 Euros)
CHF 30.00 (approx. 18 Euros)
CHF 30.00 (approx. 18 Euros)
CHF 60.00 (approx. 40 Euros)
CHF 200.00 (approx. 60 Euros)
0.1%-1%
CHF 500.00 (approx. 310 Euros) min
