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Corporate Account Fees

* Effective from Nov 07th, 2022

CORPORATE ACCOUNT FEES

Currency: EUR

ACCOUNT SERVICE
Account opening fee Free of charge
Monthly Maintenance Fee 159 EUR
Internet Banking, Mobile Banking Sign up and Monthly fee subscription Free of charge
INCOMING TRANSACTION
Incoming payments from another DSBC Account Free of charge
SEPA incoming 5 EUR
SWIFT incoming (SHA/BEN/OUR) 0.2% - min 10 EUR
OUTGOING TRANSACTION
Outgoing to another DSBC account Free of charge
SEPA Urgent D+1(2) 0.25%(3) + 25 EUR
SEPA Express D(2) 0.25%(3) + 50 EUR
SWIFT Outgoing (SHA/BEN) 0.35% + 50 EUR
SWIFT Outgoing (OUR) 0.35% + 50 EUR + correspondent bank fee (if any)
Payment cancellation, modification, refund 75 EUR
EXTRA FEE
Investigation Fee (SWIFT) 75 EUR
Recall Fee (SWIFT) 75 EUR
Review fees for legal entities (Not requiring enhanced due diligence) 500 EUR
Review fees for legal entities (Requiring enhanced due diligence & legal entities incorporated outside EEA & Third Equivalent countries) 1000 EUR (Annually)
Due diligence fee on large amount payment (4) / complex transaction 0.05% - max 200 EUR
Fee for handling funds on an account (annual rate)(5) 2.5%
Legal closing fees for legal entities (Requiring legal check by compliance when closing account) 1000 EUR

Note:

  1. Elite Package is the package of a payment account and a payment card opened at the same time. More information could be found at our https://www.dnbcf.com/elite-package
  2. D – current working date, Lithuania time zone, 08:30 AM – 10:00AM (cut-off time at 10:00 AM).
    D+1 – value date on the following working day, Lithuania time zone.
  3. 0.25% of the total amount of transactions.
    Maximum transaction fee capped at 175 EUR for Urgent D+1. Express D will be charged an additional amount of 25 EUR depending on your request.
  4. Applicable with a transaction amount over 50,000 EUR.
    This service charge is an extra fee for large transactions to check documents and scan KYC compliance. The processing fee is still fixed following the information on the above table.
  5. The negative interest is calculated at the end of each day.
    The negative interest is debited at the end of each month for the period of the previous month and debited directly from the respective account.
    The negative interest is currently 2.5% per annual. The calculation for each month is 1/12th of the interest rate.
  6. Monthly Maintenance Fee is free of charge for personal account clients who make transactions per month (exchanged to EUR) from 30,000 EUR or more via SWIFT Transfer. If the monthly transaction does not meet the above conditions, the monthly maintenance fee will be applied for the Standard Fee (19 EUR), regardless of customers who have signed up for Standard/ Elite Package . Client is required to sign a form of changing his/her current package to upgrade to Premium Package. More information could be found at https://www.dnbcf.com/premium-package.
  7. Standard Package and Elite Package are easy for upgrading to Premium Package as long as the client satisfies the requirement at (6).
  8. Register a new account with Premium package, the monthly maintenance fee will be 0 EUR within 2 months (the subscription month and the next month). In the following months, if the client does not meet the requirement 6 mentioned above, the monthly maintenance fee will be applied for the standard package (19 EUR).
  9. With a current account upgrade from Standard/ Elite to Premium, in the following months, if the client does not meet the requirement 6 mentioned above, the monthly maintenance fee will be applied for the standard package (19 EUR).

OTHER SERVICES RENDERED

Account, Statement & Notification
Account statement request 10 EUR Fee for Hard copy.
PDF is free when downloading via DSBCnet
Balance Certificate for a specific account 20 EUR  
Current account reference letter request 50 EUR  
Express courier original copy 60 EUR To client address worldwide: DHL/FedEx
Fee for copy of SWIFT transfer 55 EUR  
SMS notification about account transactions 0.2 EUR Per message
Email notification about account transactions Free of charge  
Account closure
Closing the Personal or Corporate account after one year Free of charge  
Closing the Personal account within 12 months 200 EUR  
Closing the Corporate account within 12 months 1000 EUR  

Note: Please take note that the provided information about SWIFT Transfer above is for informational purposes. Currently, we have indirect relationships to perform any international SWIFT transfer and incorporated with several correspondent/intermediary banks that support our clients in making international money transfers/receive via SWIFT Transfer. All SWIFT trademarks are owned by S.W.I.F.T. SC, Avenue Adèle 1, 1310 La Hulpe, Belgium. DNBC is only responsible for managing and supporting our clients to send payments as well as make transactions via DNBCnet.

Information updated as of August 2022. The fees and charges are subject to change from time to time.

FAQs

1. Who has the authority to open a corporate current account?

A Corporate Account or a Corporate Current Account can only be opened by the chief executive officer (CEO) or the owners of a company. They will need to complete the identification procedure, required by DSBC Financial Europe (""DNBC""), this process will include filling our application forms and a short remote interview. If you ever encounter any issues with the process, our Relationship Manager will be ready to support you, just give us a call. 

In the case where you are not the CEO of a company, but an authorized person, you also need to complete the identification procedure before the process to open the account. Afterward, you'll be required to submit a power of attorney or a permission with e-signature by the company CEO to complete the steps to open a Corporate account. Please don't feel disheartened with the list of required documents, we will provide you with a Relationship Manager to guide you through the process and tell you exactly which paper we would need from you.

Corporate accounts provided by DNBC only available for companies that are currently retaining active status. We will need additional information about your field of operation to complete the opening process. This can be a hassle at first but this process will assist us in providing you with the appropriate features according to your business.

See more: Open a corporate account with DSBC Financial Europe

2. What Is SWIFT?

SWIFT - Society for Worldwide Interbank Financial Telecommunication.

Transaction orders are transmitted between members of this network.

Each member is identified with a unique SWIFT/ BIC code.

To this day, SWIFT is the biggest and most efficient tool for international money transfer, with over 11.000 member institutions in over 200 countries, sending over 5 billions financial messages globally every year.

3. Can I open a personal account for business purposes instead of corporate account opening?

A Corporate Account is made for commercial or business purposes. It can perform more transactions in one day with a higher transaction limit. A Corporate Account has all the functions of a Personal Account together with the exclusive Merchant Account function, which supports incoming payments to your account including accepting debit/credit cards from customers, support chargeback transactions and many more. In short, if you are interested in running your business effectively with the best possible support, you should choose to open a DSBC Financial Europe Corporate Account.

At DNBC, corporate account opening is as easy as opening a personal account with a dedicated Relationship Manager to guide you through the process, which would make it as simple as it can be. So there is no reason to use a personal account if you want to startup or currently run a business yourself.

See more:

4. What Does SWIFT Code Represent?

SWIFT works by assigning each member institution a unique ID code that identifies the bank name, country, city, and branch.

For example DSBC Financial Europe BIC code is: DSFE LT 21 XXX

  • The first 4 characters represent our institution (DSFE - DSBC Financial Europe).
  • The 2 following characters represent the country we are based in (LT - Lithuania).
  • The other 2 following characters might be used to represent the location/city or a combination of numbers based on the organization's liking.
  • There might be an additional 3 characters, which are the institution’s branches.
5. How to open an account for a company which is not registered in Lithuania?

At DNBC, we are aiming to provide the best services for businesses from everywhere across the globe. Companies that are not registered in Lithuania can also apply for a DSBC Financial Europe Corporate account with as simple a procedure as the one in Lithuania. The companies will need to provide following documents for a new corporate account opening: 

  1. Passport of the Directors/ Shareholders (and all related parties).
  2. Proof of residential address of the Directors/ Shareholders (Utility bill or bank statement not older than 3 months) and of those authorized signers.
  3. Documents that verify Business Legal Entity:
    • Certificate of Incorporation (COI).
    • Memorandum of Article of Association (M&AA).
    • Certificate of Shareholders + Licenses (if any).
    • Supporting documents (Commercial Invoice or Sale Agreement, Contract…).
6. What Are The Differences Between SWIFT And SEPA?

 

Difference between SEPA and SWIFT:

 

Network 28 + 3 EU/EEA countries. 118 countries and territories.
Currency EURO. Multiple currencies.
Transaction time 01-02 business days. 02-05 business days.
Or more depending on the relationship between the two payment institutions.
Maximum amount transferred per day 15,000 EUR/day Unlimited.
Note: The maximum amount can be pre-set when establishing your account.
Transfer fees Cheaper for transfer within the EU/EEA region. Depends on the number of correspondent banks involved.
7. Do I need a corporate account if I am a freelancer and work under a business certificate?

In general, if you are working as a freelancer, you can collect payment to your personal account without the need to open a corporate one. However, this may change according to the law and regulation of every country you are based on so we would review this on a case-by-case basis. Please contact our Relationship Manager for specific information regarding your circumstance and your country specifically.

Corporate account procedure requires our client to provide some legal entity documents that a freelancer is unable to submit. For example when a corporate client applies for a DSBC Financial Europe corporate checking account, they are advised to submit some documents like Certificate of Incorporation/ Registration, Memorandum and Articles of Association, Register of Director & Shareholder, Company Extract ( for European companies only); and a freelancer cannot provide these papers to apply for DNBC corporate account.

On the other hand, a DNBC personal account is also an optimum choice for personal usages. You can execute wire transfers, pay online with DNBC MasterCard, manage your finance effortlessly with payment platform and mobile payment free registration fees and monthly maintenance fee while you only need to provide your identification and address proof.

8. Can I Send And Receive Transfer In Other Currencies?

At this time, with DNBC SWIFT transfer, you can send money from your Euro account to other accounts in any other currencies.

However, when you receive payments in other currencies, the fund will be automatically converted to Euro in your DSBC Financial Europe current account.

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About Us

We are always proud of being an experienced Financial Institution in the global financial payment market.

We provide the Best International Money Transfer Services. DNBC Financial Group can assist you with different payment methods, whether it is a personal account or a business account.

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