Opening and Maintaining Correspondent Accounts

UniCredit Bank offers credit institutions the means to open and maintain ruble and foreign currency accounts. The bank has one of the biggest correspondent networks in Russia comprising some 1400 banks from more than 100 countries, and including virtually all pivotal banks in the CIS and the Baltic States, as well as many medium and major Russian banks.

Opening a correspondent account, issuing bank statements and LAs is free of charge. Opening a correspondent account requires signing an agreement with the bank for the appropriate account and presenting a set of documents.

Account Management

All transactions with the correspondent account are made on the basis of payment orders signed by the holder. Payment orders may be either printed out and submitted to the Bank through UniCredit Bank Mailroom, or transmitted as tested telex using special communications facilities, such as SWIFT, telex, or the Bank-Client electronic system.

Bank-Client

The Bank-Client electronic system enables a client to use the Bank’s services without leaving the office. They can forward payment and other orders to UniCredit Bank for clearing, and receive electronic statements on UniCredit Bank accounts as well as information on the balance of the account, etc.

For the benefit of Bank-Client system users a longer banking day has been introduced for receiving payment and other orders. So also has discounted service charges for clearing them.