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Western European Union Bank Account
Bank Option #6 - Western European Bank Account
Here's an opportunity to obtain an Western Europe Bank Account, "without" BANKERS REFERENCE or hassles. Passport copy and a recent utility bill is required. AMERICANS welcomed! Incoming and out going bank wire transfers by SWIFT! Minimum opening deposit is Eur 1,000 or the equivalent in other currencies, i.e. Euro, GBP, CHF, YEN, etc. There is a wide range of investment opportunities offered by the Bank:
Flex Accounts and Fixed Term
Deposits in many different currencies, Mutual Funds as well as International Securities listed on the world's major stock exchanges. Their fee structure is highly competitive. All deposit accounts are free of charge, and through the Bank customers receive up to 71% discount on the initial fee on Mutual Funds managed by Fidelity, Fleming, Jardine Fleming, Templeton and Momentum or similar. Banks customers may request the Bank to issue international drafts. If the beneficiary of the draft is yourself they would not charge any fees. Drafts made payable to a third party would incur a fee. Presently approximately Eur 20. Nonresidents are exempt from local taxation on interest income, capital gains, etc.
The host country has a sound economy and is a politically stable country. National banks are subject to strict banking legislation. Furthermore the "Deposit Guarantee Fund" secures account deposits up to approximately USD 43.000 per customer. To open an account you only need to return a one page Application Form together with a copy of your passport, showing your picture, name and signature.
You may enclose a cheque or ask your local bank to transfer the amount via SWIFT. Please see list of their Correspondent Banks,(provided upon ordering.) At the Bank they take great pride in providing their customers with individualized service and attractive returns without the hassles of a huge bureaucracy. If you have any questions or if you wish to give any investment instructions, you are invited to contact source either by mail, fax or phone. They shall be happy to call you back. Flex-Account
This type of account is excellent for the customer who wishes to have the certainty that his or her funds always are readily available. Even though it yields a high rate of interest, the Flex-Account is a call account and you may make deposits or withdrawals whenever you wish. Call accounts do not usually earn any interest to speak of. However, this is not the case with this Banks Flex Account where your money earns the high interest rates normally achieved only on fixed-term accounts. The actual rate of interest is determined by the balance of the account: the larger the balance, the greater the interest. The interest rate is adjusted according to the interest levels for the different currencies. Please refer to the interest table where you find the rates relevant to each currency. Because the Flex-Account is a call account, it gives you the possibility quickly to take advantage of currency and interest rate fluctuations on the international financial markets You may choose among a wide range of currencies when opening your Flex-Account.
The various currencies as well as the minimum balance required are listed on the rate sheet. Once a year, at the end of December, you will receive your annual statement. Deposit Guarantee Fund As an account holder with the bank you are protected by the National Deposit Guarantee Fund. The Deposit Funds Act was passed by the government on 14 June 1995 and protects each account holder up to approx. US-Dollar 45.000,00. Just Euro 1,250 from PT Shamrock.
Total Setup Cost: Euro 1,250 Copy of passport and recent utility bill is required for account opening purposes.
Sorry this bank does not accepts North American citizens or residents. See HERE for our list of current bank offerings, many of which are happy to accept Americans these days.