Bank Gutmann AG (Austria)

$100 000 (should be placed within one month)  

Monthly average - $100 000; daily transactions allowed

Typically high for all Austrian banks - 0,25% of the remitted amount; if the balance of account is substantial and the annual turnover is large, the remittance fee can be decreased to 30-300 Euro; convertibility - 0.275%.

Valuation date – within two banking days, urgent transactions, account statements can be mailed, faxed, send by e-mail or stored in the Bank

Teller transactions (options available); on-line reporting – possibility of internet tracking of transactions

Upon receipt of documents

Russian, German, English –speaking; years of experience with clients from Eastern Europe, i.e. knowledge and understanding of local market specificities; personal manager service

VISA, MasterCard – no insurance deposit is required, the amount placed on the account is a sufficient coverage

Various – investment funds, check books (available from February 2002 in connection with changeover to the Euro), guarantee letters, deposit credits (1-2 %); structure consulting; projects can be discussed with the head of the Bank. 

High, secured by the state laws

The system of public insurance is not applied

Varies depending on the fund, investment term, business trends; In 21.02.2001 the Bank was awarded by Standard&Poor’s for the most efficient investment portfolio management in Austria 2000    

Not required, however, it is advisable to establish relations with the bank management during the first three months of account operation

Copy of foreign passport; in addition, for corporate clients – foundation documents, authorized signatures, certified by the notary public or, alternatively, Russian bank card with signature. It is advisable to present company’s dissemination materials.