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Opening a bank account in Moscow - a EU legislation question

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Jan 24th, 2012, 08:21 AM
  #1
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Opening a bank account in Moscow - a EU legislation question

Good Day!

I was wondering weather someone here would know the answer to this kind of situation:

If a European citizen travels to Russia on a regular basis (for example once or twice every two or three months) and they want to open a bank account in order to send and receive money to and from a European country (because Western Union fees get somewhat high when sending large sums of money).

This person comes here, not to work but to visit friends etc. therefore wont have temporary registration, letter from employer etc..

What's your take on this situation? What does this person need to do to open a bank account in Moscow?

I appreciate your time and advice!

Best regards

Paul
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Jan 24th, 2012, 08:31 AM
  #2
 
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Depends on the regulations in Russia. I would contact a bank like maybe HSBC that provides services worldwide and see what you need to do.
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Jan 24th, 2012, 08:43 AM
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Unless you have to have a bank account in Russia for other than daily expenses I do not see the need for one. An ATM withdrawal from your local bank should work fine. I have a bank account in France but only because I have to pay property taxes, utilities and maintenance costs. Otherwise I would not bother since withdrawing money from an ATM is as efficient regardless of where the account is located.
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Jan 24th, 2012, 09:19 AM
  #4
 
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http://www.ehow.com/how_6710096_open...nt-russia.html

though I'm not really sure if it is worth while.
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Jan 24th, 2012, 01:07 PM
  #5
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Thank you! I appreciate your replies!

The point of the whole thing being worthwhile - I completely understand. I must help a friend out on this information. They want to send money abroad with the account - not withdraw cash.

I was just curious about the legislation perspective e.g. what documents they must have to open the account. Because, for example, I know that in the UK a tourist will not be able to open a bank account - you must be staying in the UK for a few years before you could do that.

Well, you never know! Perhaps there is a Russian lawyer who hangs around this website and just happenes to notice this topic lol
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Jan 24th, 2012, 01:20 PM
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Still does not make sense. I think you are being coy about why large sums of money need to be transferred presumably to the Russian account when you are just a visitor. As concerns the actual transfer, look into http://www.xe.com/fx/
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Jan 25th, 2012, 12:54 AM
  #7
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I answered my own question, I think.

All you need is a passport and a visa to open a current account in a Russian bank.

EVERYONE TO RUSSIA!!

Thank you for your advice, gentlemen!
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Feb 27th, 2012, 09:44 AM
  #8
 
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I tried it in Yekaterinburg but I couldn't because you need to have either a Residence permit on your passport.
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Feb 27th, 2012, 09:45 AM
  #9
 
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Both Temporary and permanent resid permits.
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