Loyal Bank (Saint Vincent and the Grenadines)

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Loyal Bank (Saint Vincent and the Grenadines)

Loyal Bank was founded in 1997 on the island Saint Vincent and the Grenadines, received a banking license IFSA. During the first year Loyal Bank became a member of MasterCard and a member of the global SWIFT interbank network (LOYAVCVX), currently being the largest international banks on the Saint Vincent and the Grenadines.

Adherence to strict confidentiality within current legislation, together with the application of modern techniques preventing money laundering, grant the Loyal Bank a status of the most reliable financial institution in the region.

Types of accounts

Private, corporate accounts (all multi-currency accounts).

Cost for account opening (bank fee) 

For physical entities: 95 - 400 (USD).

For legal entities: 165 - 500 (USD).

The cost of opening the account depends on the type of payment card issued upon account opening. Amount is deducted from your account at the first receipt of cash.

The minimum deposit for physical entities: 150 - 250 (USD).

The minimum deposit legal entities: 300 (USD).

Account management is available after enrollment minimum deposit.

Minimum balance for physical entities : 150 - 250 (USD).

Minimum balance for legal entities : 300 - 400 (USD).

Representative Offices

Hungary: Budapest

Managing your account

Free software Internetbank.

Bank tariffs

Account servicing:

- For physical entities – 16 - 25 (USD)/month;

- For legal entities – from 19 - 45 (USD)/month.

Incoming transfers in U.S.:

- to  5000:  9 (USD);

- 5000 - 70 000: 15 (USD);

- over  70 000: 25 (USD).

Incoming transfers in Euro:

- to  5000: 7 (EUR);

- 5000 - 70 000: 13 (EUR);

- over  70 000:  21 (EUR).

Outgoing payments (USD):

0.375% (min. 61 USD, max. 422.50 USD).

Outgoing payments (EUR)

0.375% (min. 47.50 EUR, max 330 EUR).

Rate details see the website of the Bank: www.loyalbank.com

Terms of opening the account

The process of account opening consists of the preparatory period and the account opening itself

The preparatory period: includes collecting and providing us with the documents required for opening an account, the preparation and signing of forms, sending documents by courier to the main office of the bank. The duration of this preparatory period depends directly on you.

The process of documents reviewing by the bank staff and the decision to open an account takes from 7 to 10 working days following the date when the originals of documents are delivered to the Bank Head office.

Loyal Bank adheres to the “know your client” principle and thus you may be requested any additional information or documents. This may extend the process of the account opening. Bank also may refuse to open the account without any explanations.

Staff

Russian-speaking

Credit/debit cards

Maestro, MasterCard, Cirrus.

Other bank services

Deposits, loans, holding, investment trade, investment funds.

Documents necessary to open the account

Forms to be signed

Campio Group will provide you with all the forms necessary to open the account in its office.

Documents necessary from the company

You have to transmit the originals of all the founding and statutory documents of the company. In case the company was registered more than one year ago the Certificate of Good Standing with apostile is required.

Documents necessary from the account holder:

  • original of internal passport;
  • original of foreign passport (in the presence of);
  • original of utility bill no older than 3 months;

bank reference, or affiliate recommendation in English.

Documents necessary from company’s beneficiary:

  • original of internal passport;
  • original of foreign passport (in the presence of);
  • original of utility bill no older than 3 months;
  • bank reference, or affiliate recommendation in English.

Documents  necessary from the nominee Director and a shareholder in the case of a company nominee service:

  • color copies of passport and utility bill no older than 3 months (if the nominee Director is physical entities);
  • blending of the statutory documents of the company under Apostille, including the following: certificate of incorporation, Memorandum and articles of Association, minutes of appointment of the Director and the certificate of Good Standing (if the Manager is a legal entities)may be required documents about this Director (color copies of passport and utility bill no older than 3 months).

The procedure of opening an account

After giving our lawyers description of the company should be a personal visit attorney / beneficiary in our office to sign the forms of banking, assurance of documents on the company, agent and beneficiary.

Web-site

www.loyalbank.com