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Emerald24 payment system (England)

Emerald Financial Group (UK) LTD is a modern electronic money system, that is incorporated and authorized in the UK in 2019.

The financial platform provides a wide range of services for corporate clients and individuals, including other payment solutions for e-commerce.

OPEN AN ACCOUNT IN EMERALD24

TYPES OF ACCOUNTS

Personal, corporate (multicurrency accounts).

 

The payment system preferably opens accounts for European and English companies (LTD), as well as for companies from the CIS, China, Hong Kong, Singapore, Turkey, UAE. Account opening for companies registered in other jurisdictions is agreed on an individual basis.

 

Accounts are not opened for companies registered in sanction lists and for partnerships.

 

In addition, activities of financial intermediaries, crowdfunding and other collective investment schemes, as well as forex, crypto and ultra high risk are not supported.It is possible to open merchant accounts and e-commerce accounts.

 

Companies are provided with individual direct account details.

SWIFT, SEPA, Target payments are available.

The cost of opening of the account(payment system tariff)  

Cost of opening an account:

- for local payments in Britain - free of charge;

- for legal entities registered in the EU with a beneficiary or attorney from the EU - 200 EUR;

- for legal entities registered in the EU with a beneficiary or attorney from outside the EU - 500 EUR;

- for European partnerships or companies with a complex ownership structure – 1000 EUR;

- for individuals - holders of passports or EU residence permits - 10 EUR;

- for other individuals - 100 EUR.

 

The total cost of opening an account includes a commission for reviewing documents - 200-500 EUR, which is non-refundable in case of refusal to open an account.

 

Urgent account opening - additional 500 EUR.

 

Cost of closing the account:

- for legal entities – 100-200 EUR;

- for individuals – 20-50 EUR.

 

Minimum account balance:

- for legal entities registered in the EU with a beneficiary or attorney from the EU - 100 EUR;

- for other legal entities - 200 EUR.

 

The exact rates are set depending on the structure and activities of the company.

Representative offices

None.

Management of the account

Online banking.

Payment system tariffs

Account maintenance:

- for legal entities – 25-100 EUR/month (depending on the structure of the company and the country of registration);

- for individuals - 20 EUR (+ 1% of the balance).

 

Incoming payments are free.

 

Outgoing payments:

- internal payments (in EMERALD) - free of charge;

- SEPA payments (per transaction) - from 1 to 80 EUR;

- international payments (per transaction) - 40-120 EUR.

 

For more details on the tariffs of the payment system, please follow the link. 

Terms of opening the account

The procedure of opening the account consists of two stages: the preliminary stage and final stage of opening an account.

The preliminary stage includes the process of collecting and filing your documents which are required for opening an account. The terms of preliminary stage depends wholly on you.

The account is opened within 10 working days from the date of submission of all necessary documents in the payment system.

Emerald24 follows KYC policy and reserves the right to require additional documents what may lead to account opening term exceeding, as well as refusing of account opening without reasons explanation.

Staff

Working languages: Russian, English.

Credit/debit cards

MasterCard payment cards.

Documents for opening an account

Company documents. Originals of all statutory documents are required. In case if more than one year has elapsed since the date of company registration, the payment system may request:

- Certificate of Good Standing under apostille;

- Certificate of Incumbency under apostille;

- power of attorney and/or Declaration of Trust.

 

For companies that have already carried out activities, it is necessary to provide documents on the activity (description of cash flows, concluded contracts, invoices, transport documents, bank statements).

Additionally, the payment system can request a lease agreement for a real office in the country of registration of the company.

 

Documents for the account holder:

- original of national passport;

- original of foreign passport;

- curriculum vitae;

- original of utility bill (for gas, electricity) from the place of residence no older than 3 months (to prove the place of residence).

 

Documents for the beneficiary:

- original of national passport;

- original of foreign passport;

- curriculum vitae;

- original of utility bill (for gas, electricity) from the place of residence no older than 3 months (to prove the place of residence);

- The payment system can also request documents confirming the source of income (wealth) of the beneficiary.It can be:

a certificate from the place of work indicating salary and statement of personal account, where payroll is displayed;

tax returns;

documents confirming inheritance;

documents confirming money donation, as well as their availability on accounts;

documents confirming the  presence/sale of real estate/movable property;

if the beneficiary is the founder of the company - documents for the company, extracts from company accounts, tax returns, documents confirming the payment of dividends;

if the beneficiary is a private entrepreneur - extract from the register, tax returns on the entrepreneur, bank statements;

Certificate of deposit from the bank, as well as documents confirming the source of income;

other documents that show sources of income.

 

Documents for nominal director, shareholder and secretary (in case of using nominal service by company):

- set of documents affixed with apostille, which includes copies of: passport, utility bill no older than 3 months and power of attorney. (if nominal director, shareholder and secretary are natural persons);

- set of statutory documents affixed with apostille, which includes Certificate of Incorporation, Memorandum, Article of Association, Minutes of the director designation (if director is legal entity). Also may require Certificate of Good Standing affixed with apostille, Certificate of Incumbency affixed with apostille and documents on this director, which includes set of documents affixed with apostille: copy of passport, utility bill no older than 3 months and power of attorney.

The procedure of opening an account

You need to visit our office to fill out a questionnaire, as well as certification of documents for the company, attorney and beneficiary. Next, all documents are sent to the payment system for review and opening an account. No personal visit required.

For further consultation concerning the terms of account opening in Emerald Financial Group LTD  (England) please contact our office. We will respond to any questions you may have and will help you open an account in English payment system Emerald24 or any other bank out of 70 foreign banks you may choose from.

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