Correspondent Relations
АK BARS Bank maintains correspondent relations with the leading Russian and foreign banks.
When opening new correspondent accounts, the Bank takes into account the economic expediency, international ratings of the bank and integrated approach to servicing. Correspondent accounts are opened for satisfying the client’s needs and in case the accounts have adequate funds turnover. In addition to opening of new accounts, correspondent relations are established for effecting transactions in the field of trade and project financing without opening correspondent accounts.
At present, AK BARS Bank has a wide correspondent net all over the world which enables to execute clearing, banknote, documentary business transactions and other banking operations efficiently and professionally.
Meeting the demands of correspondent banks is one of the priority directions in the Bank’s activities. We are ready to consider and satisfy your different demands under the most flexible conditions!
AK BARS Bank provides its correspondent banks with the following services
- Providing free of charge services under the correspondent accounts in Russian rubles and hard currencies.
- Quality and speed of executing of the banks’ instructions and effecting of different international operations are provided due to up-to-date technical support — international interbank systems S.W.I.F.T., Reuters-Money 3000 and Reuters-Dealing 3000.
- Settlement operations.
- The Bank provides all types of operations on a best effort basis using its wide branch and correspondent network in Russia and abroad.
- The Bank adds interests to the average monthly balances on the correspondent accounts in hard currencies.
- Interest rates depends on the amount of balances, intensity of the accounts and the duration of the partnership.
- Deposits and placements of funds.
- Conversion operations in hard currencies and national currencies of CIS.
- All types of conversion transactions (USD/RUB, EUR/USD, etc.) on tod, tom, spot basis.
- Purchase and sale of national currencies of CIS on spot basis in the interbank market.
- Documentary business.
- The Bank offers a wide spectrum of services in international settlements accepted by international practice.
- Issue of guarantees to custom bodies.
- Cash operations.
- Cash operations in Russian rubles and hard currencies. Purchase / sale of hard currency against Russian rubles. Collection.
