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Laiki Bank
Information updated on 07.07.2009
Main information on the bank
Country of registration, main office, number of branches: The main branch is registered in Nicosia, Cyprus; 451 branches in the following countries: Cyprus, Greece, United Kingdom, Australia, Romania, Serbia, Estonia, Guernsey, Ukraine, Malta and Russia.
Year of foundation: 1901
Credit rating: A2 (Moody's), A- (Capital Intelligence)
Main shareholders: Public company
Information on the opening of accounts, main features of accounts
Type of account: Current account, fixed deposit account, savings account, notice account, sight account and different types of investment accounts (corporate and individual)
Documents required for the opening of accounts: Corporate account: certified copies of the incorporation documents of the company, bank references and utility bills for directors, attorneys, beneficiaries and the persons managing the account, passport copies of the directors, attorneys, persons managing the account and beneficiaries certified by notary public and signatures of directors and the persons managing the account certified by notary public.
Individual account: bank references, two utility bills, passport copies and signatures of the persons managing the account certified by notary public.
Time required for the opening of accounts: One week, provided all the information and documents requested are available. The account will be activated immediately upon receipt of the first incoming payment.
Restrictions on the opening of accounts: In cases where the Articles of the company allow the issuance of bearer shares, the share certificates of the company have to be held in the bank.
Personal appearance of signatories required: Not required
Minimum balance required in the account: No minimum required
Methods of making payments : Telefax with test key codes, Internet
Internet banking: Available. Free of charge
Credit / debit card types and possibilities: VISA (Business, Business Debit, Platinum, Gold, Gold Debit, Classic, Classic Debit, Card&Fly Business, Card&Fly Platinum, Card&Fly Gold, Card&Fly Classic, Electron, Prepaid)
Deposit required in card accounts: 3000 EUR or equivalent in USD (except for prepaid card)
Fee charged by the bank for the opening of accounts: Free of charge
Account maintenance fee: Free of charge
Basic charges imposed by the bank
Charge for incoming transfers: 0.1% min. 1.71 EUR, max. 17.09 EUR
Charge for outgoing transfers: up to 854.30 EUR: 8.54 EUR; over 854.30 EUR: 17.09 EUR. Extra charges for using the SWIFT system: 0.1-0.15% depending on the country, max. 341.72 EUR
Charge for cash withdrawals: 0.15% (min. 0.43 EUR) excluding first 10 transactions per month, per account. No upper limit!
Charge for cash deposits: 0.15% (min. 0.43 EUR) excluding first 10 transactions per month, per account. No upper limit!
The conditions imposed by the banks regarding the opening of accounts may change from time to time. Therefore, we recommend consultation with the staff of LAVECO LTD., who will be able to provide up-to-date information, before making a final decision on the choice of bank.
Fee charged by LAVECO LTD. for the opening of accounts in Laiki Bank: 825 EUR
Fee for arrangement of bank cards: 200 EUR (up to 4 cards)
European offices

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