corporate/cash-settlement/ Copier/3.x [XR&CO'2010], Sun, 22 Feb 2015 11:52:49 GMT --> Cash-Settlement Servicing In Foreign Currencies And Russian Rubles Under Operations Of Non-Residents

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Cash-Settlement Servicing In Foreign Currencies And Russian Rubles Under Operations Of Non-Residents

AK BARS Bank makes much of its clients' business, and regards it as one of the priorities of its activities. The Bank always attempts to provide its customers with the widest range of services and to ensure the most convenient conditions possible for its customers’ businesses.

The tone of its business dealings and the high quality of Bank services contributeto the growth of trust on the part of the Bank’s customers and, as a result, to a continual opening of accounts with the Bank.

A professional approach focused on the progressive improvement of customer servicing enables it to consider the individual requirements of each client and to provide a timely advisory service to clients on cash-settlement servicing and foreign exchange control.

Customers foreign exchange operations

AK BARS Bank executes foreign currency transactions. The Bank:

  • credits proceeds to customers;
  • executes payments abroad by order of its customers;
  • purchases foreign currency against Russian rubles;
  • executes conversion operations;
  • executes sale (including obligatory sale) of foreign currency.

Documents required from customers

Order for conversion of foreign currencyDOC, 47 KB Order for sale of foreign currencyDOC, 51 KB Order for purchasing of foreign currencyDOC, 52 KB Order for debiting foreign currency proceeds from transit foreign currency accountDOC, 61 KB  Order for international money transfer.DOC, 57 KB 

Foreign exchange control

AK BARS Bank controls all types of foreign exchange operations in accordance with the current foreign exchange legislation.

Highly qualified experts consult the Bank’s customers at every stage of the transactions. The Bank provides its customers with a wide range of services based on the following principles:

  • an individual approach to each customer;
  • strict observance of the current legislation;
  • progressive methods and technology applied when providing services to the Bank’s customers;
  • a high level of professionalism from the Bank’s staff;
  • regular and timely provision of information to the Bank’s customers on all amendments of the applicable Russian foreign exchange regulations;
  • prompt (within one hour) preparation of foreign exchange control documents in compliance with the regulations of the Bank of Russia.

AK BARS Bank offers services on the arranging of remote bank document turnover using the Client-Bank system. The use of this system substantially improves the execution of payments and streamlines the efficiency of the foreign currency account management.

Fees charged for cash-settlement servicing

# Service Fee
Debiting the Client account for transferring tax payments to different budget funds Free
1. Debiting the Client account, excluding tax payments (for one document) RR 6
Crediting the Client account (incoming payments from other banks and from the Bank’s Clients) Free
Depositing cash in the account Free
2. Cash withdrawal from the account:
2.1 for individual businessmen 1%
2.2. for corporate clients:
2.2.3. for salary and payments equal thereto 0,8%
2.2.4. for other needs 1%
4. Check-book issuing and registration:
4.1. containing 25 pages RR 25
4.2. containing 50 pages RR 50
5. Account opening: RR 100
6. Certification of the List of Signatures (for one signature) RR 100 
7. Account closure RR 50
Receipt of daily statements from the bank operator when visiting the Bank Free
Receipt of daily statements out of the Bank’s boxes Free
Receipt of information via telephone when using the Telephone-Client system Free
8. Issue of statements for a certain period of time on request of the Client RR 25
9. Issue of copies of:
9.1. Statements RR 25
9.2. Payment documents (for each document) RR 2
10. Client’s enquiries regarding transactions:
10.1. up to 3 month history RR 50
10.2. over 3 month history RR 100
11. Reports on account balances RR 50
12. Enquiry regarding payment details on written application by the Client RR 50
13. Settlement of the Client's enquiry regarding payment cancellation out of business hours RR 50
14. Confirmation of information made available to Customs, and legal and tax authorities on request of the Client RR 25
15. Fee for incorrect amount deposited in the cash-collection bag (of the amount actually deposited in the bag) 0.1%

Interest accrued to the average balance of the Client account

Average monthly balance Interest rate
from RR 500,000 up to RR 1,000,000 0.8% (p.a.)
from RR 1,000,001 up to RR 3,000,000 1% (p.a.)
from RR 3,000,001 and more 2% (p.a.)

Notes:

For state-funded organisations all Bank services are provided free of charge.

Interest rates and tariffs are set by the Bank’s Head Office.  Information  on the commission charged by the Bank’s branches and outlets is available via the contact telephone numbers of the respective branches and outlets.



corporate/cash-settlement/ Copier/3.x [XR&CO'2010], Sun, 22 Feb 2015 11:53:29 GMT -->