To help the government fight the funding of terrorism and money laundering activities, International Banking Law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account or creates a new customer relationship with our financial institution.
What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. In this time, accounts are available only for new customers with references from our clients. In other words, you cannot open an account in any way without such references.
We provide service only for members of UK cooperative which is our business partner. We not provide any services for general public. To obtain any our service you must obtain cooperative's membership first.
Valid from 03 October 2018
Annual interest rate for Standard Saving Account
Annual interest rate for Combined CD-Saving Account (CSA)
In accordance with Deposit Agreement
Initial Deposit for Terminal Transaction Bookkeeping Account (TBA)
Initial Deposit for Combined CD-Saving Account - 0% (CSA-0)
2% blocked on time deposit
Multicurrency account setup fee
Adding Set up fee Terminal Transaction Bookkeeping Account (TBA)
Accounts maintenance fee per account:
active account (10 transactions and more per month)
passive account (less than 10 transactions per month)
Non Profit (Church/Community)
Half cost: 1.4.3., 1.4.4., initial deposit
Non profit and personal sub-accounts opened from 1.4.5.
Half cost: 1.4.5.
customer hold at the end of the month Combined CD-Saving Account - 0% (CSA-0)
1% per month abandoned on account (without 1.4.1.)
Temporary blocking of funds on beneficiary account (instead of automatic L/C):
Internal bank transfer
Free of charge
Free of charge
0.09% fee will be deducted from SSA account
Free of charge
100% of transferred amount
0.5% from turnover
Conversion / exchange fee:
In accordance with internal rate (min. 1.5%)
External bank transfer (wire transfer): Please note that our correspondent banks may charge fees for wire transfers:
0.3%, min: US $70.00
One reference code (10 days validity)
One reference code creation from customer
First PIN code for registration new customer from Administrator or Account Manager
Second PIN code for registration new customer from Administrator or Account Manager
For all incoming payments from other Bank or financial institution is deducted fee 0.5% of amount of transfer.
Return wire transfer made independently of amount
100.00 Euro / statement
Account closure fee
Account close before 365 days from date of open
Re-open of closed account (if previously closed by any reason)
Verification of validity
US $30/document (must be paid upfront)
Cost of issue
Negotiable depend of complexity
Commission of ESB for redemption (Principal will be deposited only to ESB accounts of FPN bearer)
0.5% of Face value + 50 USD per document (FPN) must be paid upfront, no deduction from Promissory Note value
Value of redemption paid in behalf of bearer
100% of face value
All charges and fees withdrawing from SSA account only.
Emergency markets currencies fast automatic conversion into USD, EUR etc. service (if money was sent to ESB in native currencies of emergency markets directly to USD or EUR accounts of ESB) - 13% of amount conversion fee will be deducted from each amount transferred (or converted inside ESB between ESB accounts) above 10,000.00 EUR. This fee was implemented to prevent money laundering, making such activity economically unprofitable. Before carrying out currency foreign exchange operations of large amounts, it's recommended to clarify the exact amount of the commission by the internal ESB mail.
European Standard Bank support any currency in the World for internal wire transfer. For external wire transfer all transaction are executing in USD, EUR, CHF, PLN, RUB. Please inform us if you need any specific currency for internal transfer.
Please note that you have an initial deposit of at least € 1,000 in your SSA account. If SSA account balance fall below € 1000 for any reason within 60 calendar days, your ESB accounts will be closed without further notice, and your balances will be transferred to you using your details in any other bank. If you will need ESB services after account closure, you will have to open a new account.