Company industry: Software

Company jurisdiction: UK

Shareholders: 3 Individuals from UK.

Banking needs: For the UK company – need of SWIFT EURO, USD and other currencies, in and out

 

We can assist you too to open bank accounts – contact us

 

Banking difficulties in UK

Very high banking fees in the UK

They came to us asking for assistance to open business bank account in Europe with SWIFT EUR, USD and SEPA to receive funds from their customers online with attractive banking fees.

 

Our Solution:

  1. To open corporate account in EMI’s in Europe, which offers attractive fees for low risk customers.
  2. We assisted them to identify the relevant EMI with the most suitable and attractive fees.
  3. This way, the company can save thousands of EUR monthly, due to the multiple inward payments.
  4. The company issued 2 debit card for making online payments.
  5. We assisted them to approach an EMI’s in Europe, gather documents, prepare and submit forms to the EMI.

 

What were the steps:

  1. Identify their needs and current difficulties.
  2. Collect company shareholder’s information from open sources – company registry.
  3. Filling in the information in the financial institutions applications/ Corporate Questionnaire.
  4. Work with the Electronic Money Institution to ensure application is full for smooth account opening.
  5. financial institution approved the application and open the company an account with the required services.

Case study Summery:

It took 17 working days to prepare the application and to approve the account.

Recommended for you

Interest rate levels in percentages per annum
12.05.21
Since the financial crisis of 2008, banking interest rates for customer accounts have followed the steep decline in central banks’ prime lending rates. This is due to the policies followed by the major economies to flood the markets with cash in order to stimulate spending...
banking
Accelerated digital banking demand in Europe is an opportunity
10.05.21
Recent studies have shown that the COVID-19 pandemic has driven awareness of digitally-enabled financial services providers to unprecedented and unexpected levels in Central and Eastern Europe. Effects of the pandemic As the pandemic spreads and countries are experiencing another wave, Europeans are interacting more widely...
Interview with: Darius Kulikauskas, Ph.D., CEO of  Pervesk and advisor at Bankera
04.05.21
Interview with: Darius Kulikauskas, Ph.D., CEO of  Pervesk and advisor at Bankera Darius Kulikauskas is the CEO of Pervesk UAB and an adviser at Bankera. He holds a Ph.D. in Economics from Vilnius University where he also obtained his Master of Laws. Prior to joining Bankera,...