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View Full Version : Anyone opened an account with Raiffeisen Bank lately?



DavidB
25-01-2011, 15:33
Hello everyone,

If you've recently opened an account with Raiffeisen or UniCredit Bank, can you help me by answering the following:

1. Did they need a notarised translation of your passport? *

2. How long did they take to produce debit/credit cards?


* I know it's easy to get a notarised translation, but I have a limited amount of time before I have to travel again, and would like to have a card waiting for me when I get back.


Thanks in advance!

matti
27-01-2011, 14:42
Hi David,

Re no. 1, I tried to open the bank account with Reiffeisen today and they did indeed ask for a notarised translation of the main page of your passport.
Because my Russian colleagues assured me that not even an official copy of passport is necessary, I did not proceed further and dont know anything about no. 2 :)

Pls let me know if you have a different experience somewhere.

Cheers.

DavidB
27-01-2011, 15:24
Thanks Matti.

It seems to me that some people are asked for a translation, and some are not.

Can you tell me which office you tried to open an account at?

matti
27-01-2011, 16:26
I am curious to see whether you succeed in a different branch. They were swearing to me that its their unbreakable internal rule and that my friends who opened it without such a translation must have been mistakes :)
Good luck anyway

rhand
27-01-2011, 16:54
I opened one two years ago with the Mrs @ Prospekt Mira near Sukharevskaya Subway station. They were being difficult too at first. Asking for more papers and so on - can't recall what papers. But when they got the English speaking manager and he understood other colleagues of my wife had accounts were with them they became more relaxed and accepted our passport/visa + paper showing where she worked to open accounts.

tasel
28-01-2011, 20:40
I opened 2 yrs ago and never had any problem. As i knew we needed the notarized translation, i took it along with me and just in 15 min my a/c was opened and the debit card arrived within 10 days. As for foriegners now they don't issue credit cards (after crisis), but if you have 2NDFL form, you can talk with the manager.

mattology
28-01-2011, 21:04
I opened one recently via my company, and it seems they did supply them with the translation. They basically took care of most of the things, all i had to do was fill in the application and once the account was opened had to deposit min 600 RUR on the account as the VISA card annual fee (it's not a credit card, it's basically an international debit card). Debit card (Visa Electron) is for free.

After depositing, I was able to pick up the cards about 5 working days later.

kpworld
03-02-2011, 21:55
I opened an account with my passport and registration - within minutes. No funny questions and they speak English fluently. You can set up EUR, USD and GBP accounts at no extra cost and all they charge you is 750RUB/month if you have less than 75,000RUB balance. Friendly and so far great customer service! Once your account is open you can get cash free of charhe from various other banks' ATMs and manage the account online.

DavidB
04-02-2011, 03:52
Thanks kpworld. I did consider HSBC, and would much prefer to have an account with them. However, on the few occasions that I was able to check, their exchange rates were not as competitive.

Can you do me a favor and post USD/Ruble and Euro/Ruble exchange rates, if they are available to you on internet banking? If you could do it at about 10:00am Moscow time for a few days, that would be even better. I'm collecting data for a comparison at the moment, and will post it in a few days.

DavidB
04-02-2011, 04:42
kpworld: Further to that, I was checking the cash exchange rates, so it's possible that they would offer a better rate for electronic transfers between your own accounts.

kpworld
04-02-2011, 09:25
Sorry, don't know much about them and don't think they're just available in Internet banking. Chevk their website, but I usually tansfer between my accounts from RUB to, say, EUR. It's quick and dead easy. A transfer home is 0.5% (min 20 max 150 in any currency) via Internet Banking - and no matter if it's another bank or HSBC (because the HSBC here counts as a separate busi ess entity...) As I'm not exchanging very high amounts I don't care if the rate is not the very best - but they save me all the hassle I could have with other banks.

DavidB
12-02-2011, 14:02
OK, so in the end I took Kpworld's advice and paid a visit to HSBC. The service level is nothing short of fantastic. If you can maintain a balance of $2500 or more, don't bother with other banks. HSBC's standard exchange rates are competitive enough. The combined exchange and fee losses are about the same, when you consider their low fee structure.

If you can maintain a balance of $50k or more, they will give you a private banker, very tight exchange rates, and the full suite of Premier services WORLDWIDE. That really is a bargain. In most other countries, the required balance for Premier service is $200k. What's even better is that they have private bankers who are native speakers of English (both varieties), German, French, and some other languages.

Premier clients can open HSBC accounts in many countries, for free and without even leaving Moscow. Once you do that, transferring money between your own worldwide accounts is free and instant, and you can then use your account in the same country to make payments on the local banking system, which saves time and cost.

Another important point: Unlike UniCredit and Raiffeisen, HSBC is one of the world's most stable banking groups. There is no reason to be nervous about holding large balances with them.
http://www.gfmag.com/tools/best-banks/10533-worlds-50-safest-banks-2010.html

xnica01
07-09-2011, 00:26
Very useful comments that I need to take into consideration. Thanks!

frankjohn2
07-09-2011, 03:40
Very useful comments that I need to take into consideration. Thanks!

This information is out of date. Sadly, HSBC left the Russian retail banking sector in July. :(