Meinl Bank (Austria)

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Meinl Bank (Austria)

Meinl Bank is a private traditional Viennese bank established in 1923. The bank is a part corporate empire of Julius Meinl Group, the story which began in far 1862. Due to the reliable financial structure and assets, Meinl Bank functions without state subsidies even in volatile situation in the country.

The bank provides clients with the opportunity to open current and investment accounts in various currencies (EUR, USD, GBP, SHF, RUR and other). Clients can manage distantly their accounts via Internet banking. Credit cards Visa, MasterCard are also available at the bank which in turn allows to withdraw cash and to make payments anywhere in the world. 

OPEN AN ACCOUNT IN MEINL BANK

Types of bank accounts    

Private, corporate.

The cost of opening of the account (bank tariff) 

The account opening (in USD and EUR) costs 1000 EUR.

The subaccount opening costs 500 EUR.

Minimum deposit – 1000 EUR.

 

The minimum required balance – 1000 EUR.

As  soon as the account has been accepted, you should compulsory specify the investment product, after that the bank signs the relevant agreement with you and simultaneously opens an investment account. 100 000 EUR are to be transferred to the account (that is the minimum rate of investment). 

Representative offices

Czech Republic: Prague.

Management of the account

Using Internet banking, PIN-envelopes, mobile messages with your code, e-mail.

Bank’s tariffs

Account maintenance for natural persons and legal entities costs 250 EUR quarterly.

The cost of the outgoing and incoming money transfers:

- in USD – 0,15% (min 100 USD, max 700 USD);

- in EUR – 0,15% (min 70 EUR, max 550 EUR).

All transfers are usually completed the same day.

Terms of opening the account

The process of account opening consists of two stages: the preparatory period and the account opening itself.

The preparatory period includes: gathering and providing of the necessary documents required for the account opening. The terms of the preparatory stage depend on you.

The process of documents’ examination and taking the decision as of account opening takes from 2 to 4 business days from the moment all required documents have been submitted to the bank in originals. 

Meinl 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/English speaking.

Credit/debit cards

Visa, MasterCard.

Other bank’s products

Bank provides for the whole range of services except crediting.

Documents for opening an account

Forms for signing are given at the bank’s representative office in Kiev.

Company’s documents:

originals of all statutory documents of the company under apostille proceeded not less than 6 months before your application;

- power of attorney under apostille (apostille shall be no older than 6 weeks);

- detailed business plan;

- financial statement (it relates to all jurisdictions, incl. offshore). Term for statement preparation is determined by compliance authorities of the bank.

In case the company was registered more than one year ago before application then the Certificate of Good Standing and Certificate of Incumbency with apostille no older than 6 weeks is required.

 

Documents for the account holder:

- original of foreign passport;
- original of internal passport;

- original of identification code (taxpayer number);

- notarized translation into English of the utility bill not older than 6 months;
- original of the reference letter from the account holder’s bank no older than 6 months. In case the bank reference is issued in other language than English, German or Russian then the translation into English is required.

 

Documents for the beneficiary:

- original of foreign passport;
- original of internal passport;

- original of identification code (taxpayer number);

- curriculum vitae;

- notarized translation into English of the utility bill;
- original of the reference letter from the beneficiary’s bank not older than 6 months. In case the bank reference is given in other language than English, German or Russian the translation into English is required. 

- documents verifying the source of income (wealth) of the beneficial owner. These could be the following:

letter of employment verification;

tax declarations;

documents confirming the receipt of the inheritance;

documents confirming the receipt of the funds as a gift, as well as its availability on the accounts;

documents confirming the sale of the real/movable property;

if the beneficial owner is a founder of the company – documents on that company, statements from the corporate accounts, tax returns, documents verifying the dividend distribution;

if the beneficiary owner is a private entrepreneur – extract from the registry, tax declarations on entrepreneur, statements from the bank accounts;

bank reference letter confirming the deposit in the bank, as well as the documents confirming the source of these funds;

other documents, reflecting the sources of income.

 

Documents for the nominee director and shareholder (in case the company uses the nominee service):

- the notarized set of documents which includes: copy of passport, copy of utility bill not older than 6 months, bank reference letter (in case if the nominee director, shareholder and secretary are individuals);

- Certificate of Incumbency with apostille (in case if the nominee director, shareholder or secretary are legal entities). Also the bank may require documents as of the director of the company in a form of a notarized set of documents under apostille which includes: copy of passport, utility bill not older than 3 months and bank reference letter.

The procedure of opening an account

To start the procedure of opening the bank account we send you the questionnaire, which is to be filled in and to be send back to us with other necessary documents in order to open the bank account. After that, banking forms, as well as the day and place for meeting will be arranged in order to sign the banking forms.

Bank site

www.meinlbank.com

For further consultation concerning the terms of account opening in Meinl Bank (Austria) please contact our office. We will respond to any questions you may have and will help you open an account in Austrian Meinl Bank or any other bank out of 70 foreign banks you may choose from.