The cost of opening an account: From 900 USD
The cost of opening an account:
From 900 USD

General information

Name
Credit Andorra SA
Country

Andorra

Official site
https://www.creditandorragroup.com
Faunded
1 949
History
History of the Credit Andorra Bank, founded in 1949, has more than 60 years. In January 2007, it merged with CaixaBank SA. Currently Credit Andorra Andorra is a leading bank of Andorra in terms of aggregated assets (12 270 million EUR at the end of 2010). There is the largest network of offices in the country: 17 regular branches of the Bank and three automated offices. Four entities were created in the structure, which are located outside of the country («Private Investment Management» in Geneva; two «SICAV» in Luxembourg; Banque de Patrimoines Privés, «Valira Capital Asset Management» in Madrid) and operating offices outside Europe (representative office in Montevideo (Uruguay); «Banco Credit Andorra (Panamá)»; entity of «Credit Andorra Panamá Securities»). Thus, geographical spread of the Bank includes Spain, Luxembourg, Switzerland, the USA, Mexico, Panama and Uruguay. In the near future offices will also opened in Paraguay and other South American countries.
Employees
The bank has more than 600 employees worldwide. In Andorra, there are 45 private bankers. The Bank had Russian-speaking personnel: Russian-speaking branch includes approximate five personal managers and English-speaking department of processing
Presentation

Presentation Credit Andorra

Account

Terms of opening for admission (days):
5
Opening terms for cancellation (days):
5
Recommendations:
Требуется
Description of activity:
Exhaustive and comprehensive
Account type:
Savings
Types of accounts:
Personal; Corporate; Savings
Departure to the bank:
Opening an account is possible without visiting the bank, as there is the possibility of holding a meeting with a representative of the Bank for account opening in Moscow. Term of account opening depends on the verification procedures of all necessary doc
Required documents:
In order to open an account you must provide the following set of documents: a set of statutory corporate documents, letters of recommendation from a bank (any bank); data of ultimate beneficial owner (beneficiaries), copy of passport, proof of residence (registration), proof of the origin of funds (varies depending on the source: certificate of inheritance, the documents confirming the sale of real estate and others).
Account opening, probability:
Calculated and perceived
Particularities during account opening:
Opening an account is possible without visiting the country of the bank

Rating

Rating in the world:
1283
Country Rating:
1
Rating on loans:
A-

Terms

Balance, minimum:
500000 €
Limit of transfers (per month):
5
An initial fee :
500000 €
Term of contribution (months):
3
Annual turnover (minimum):
0 €

Services and costs

Cost of translation:
The standard tariff for transfer is 0.56% of the transferred amount. Upon arrangement with the personal manager, the client may be provided with a discount in the amount of 50% of the specified rate. Minimum rate for transfer is 120 EUR.
Cost of enrollment:
There is no fee for crediting funds to the account
Cost of account maintenance:
Standard of Rates for Banks in Andorra was developed to be applied to the banking system of Andorra, and all banks must follow the foregoing standard and apply the appropriate rates. The tariff for maintaining the account is 600 EUR per year. For customers contributing substantial investments, the rate may be reduced upon agreement with the personal manager. Fixed rate may be 0.50 - 1% of the amount (fixed rate is not included in the Standard of rates)
Credit card restrictions:
Limit due to Visa Classic card is 1 500 EUR per day. Limit according to Visa Gold / Platinum is 6000 EUR per day and 12 000 EUR per month. This amount may be increased depending on the needs of the client and upon agreement with the Bank
Insurance for credit cards:
Funds on the card can not be blocked
Access to the account:
The Bank provides online account management system in two forms: active and passive (depending on the needs of the client). Available languages are English, Spanish, and others. Access to the E-banking is provided free of charge. Limit on conducting account transactions is set, which amounts to 6 000 - 10 000 EUR. The specified amount is negotiated individually with each client. E-mail and telephone confirmation of transactions are preferred. Confirmation of personal manager is required for all transfers
Bank services:
Discretionary management of accounts; financial advisory services; implementation of brokerage services (direct access to the trading platforms; available in English); Individually structured programs of portfolio investments; access to all financial markets of the world; opening accounts in different currencies (in particular, rubles); access to the MICEX. The Bank is also ready to provide financing products (letters of credit and warranties, in rare cases); Back-to-back loans: 90% of the amount contributed as deposit at the rate of LIBOR plus 0.5 - 2%.
Bank cards:
All types of credit cards are available
Cost of extracts storing:
Service of storing extracts\statements is provided at the rate of 120 EUR per year