AK BARS Bank maintains correspondent relations with the leading banks in Russia and overseas.
There are several significant matters to be taken into consideration when opening correspondent account. Those include economic expediency, integrated approach to servicing, international rating of the bank concerned.
Correspondent accounts are opened for satisfying the client’s needs and provided thatthe account has an adequate turnover of funds. Correspondent relations are also established for effecting transactions in the field of trade and project financing without the opening of correspondent accounts.
At present, AK BARS Bank has an extensive network of correspondents all over the world, enabling it to execute clearing, banknote, and documentary business transactions, as well as other Bank operations, efficiently and professionally.
Meeting the demands of correspondent banks is one of the priority areas of the Bank’s activities. We are prepared to consider and meet your different needs with the most flexible of conditions!
AK BARS Bank provides its correspondent banks with the following services
1. Free of charge services for correspondent accounts in Russian roubles and hard currencies.
- Quality and speed in executing instructions to the bank and in the performance of various international operations are delivered with the use of up-to-date technical support — international interbank systems S.W.I.F.T., Reuters-Money 3000 and Reuters-Dealing 3000.
2. Settlement Operations.
- The Bank offers all types of operations on a best-efforts basis using its wide network of branches and correspondents in Russia and abroad.
3. The Bank adds interests to the average monthly balances of correspondent accounts in hard currencies.
- Interest rates depend on the size of the balance, performance of the account, and the length of the customer's partnership with us.
4. Deposits and placements of funds.
5. Conversion operations in hard currencies and national currencies of CIS.
- All types of conversion transactions (USD/RUB, EUR/USD, etc.) on TOD, TOM, spot basis.
6. Purchase and sale of national currencies of CIS on spot basis on the interbank market.
7. Documentary business.
- The Bank offers a wide range of services in international payments accepted by international practice.
8. Issue of guarantees to customs bodies.
9. Cash operations.
- Cash operations in Russian rubles and hard currencies. Purchase / sale of hard currency against Russian rubles. Collection.