ABC Banking Corporation

FACTS & INFO

• Requirements

  REQUIREMENTS FOR ACCOUNT SETUP:

  • Personal presence is not required. A Skype video call is mandatory between the bank and the client. The client should have their passport readily available for online verification.
  • Personal meeting with one of the members of Starting Business is required.
  • Reference letter to be validated by the bank.
  • A minimum balance and initial deposit of USD/EUR/GBP5,000 is required to be deposited within a month of the day of account opening; the account will be automatically closed if the amount is not deposited.
  • US companies and citizens are accepted for account opening.
  • Account opening fee of $100 once approved.
  • The account will be activated within 3-5 business days (upon receipt by the bank of all duly completed forms and relevant information).

  DOCUMENTS REQUIRED:

  • Notarized copy of a valid passport. The passport must be signed and the signature must match the signature in the application form. The photograph must be clear and of good quality.
  • Original or notarized copy of a utility bill / bank statement dated within 3 months as verification of residential address.
  • Original or notarized copy of a bank reference letter, dated within 3 months.
  • Power of attorney (where applicable).
  • Personal CV.

  PLEASE NOTE:

  • There is a list of restricted countries/regions/citizens/residents for account opening: Mexico, OFAC-listed countries, all CIS countries (including Russia, Ukraine and Belarus), several EU countries (including Romania and Latvia), African countries, South America and Balkans countries.
  • Documents that are not in English must be accompanied by a certified translation.
  • Once all documentation is available please email electronic copies to our representative for review; incomplete or unexecuted forms can create delays in the account opening process.

  SHIPPING COSTS

  Shipping of corporate documents or banking kits to your destination requires an extra charge and will be automatically added to your order during checkout. Shipping costs for international courier services are set automatically depending on geographic zones.

• About the Bank

  ABC Banking Corporation - the banking arm of the ABC Group - was first established in 1997 as a leasing company (the well-known ABC Finance & Leasing), and subsequently obtained its banking license in June 2010. It is the first leasing company in Mauritius to have successfully converted into a bank.

  It officially began operations as a commercial bank in December 2010, with a solid base of deposit and leasing portfolio. Ever since, the bank has prided itself on excellent service delivery, driven by innovation and operating on the most advanced banking technology platform in the market.

  ABC Banking Corporation currently offers a wide range of products and services, including current accounts, savings accounts, term deposits, leasing, housing loans and personal loans, term loans, and revolving credit, as well as trade finance services such as bank guarantee, letters of credit, import and export loans, and collection documents for import and export. In December 2011, it successfully launched its international debit MasterCard and internet banking services to ensure more service accessibility to its clients.

• Facilities

  WHAT ABC BANKING OFFERS:

  • Personal and corporate accounts
  • Internet banking
  • Phone banking
  • Debit MasterCard
  • UPI Classic and Diamond Card
  • Customer support in English and French
  • Accounts and cards in MUR and USD
  • Account allocation timeframe of 3 to 5 days after the original documents have been received by the bank

  BANK TARIFFS AND CHARGES

  ABC Banking Corporation can be considered a low-cost bank with respect to incoming/outgoing payments and account maintenance. The bank charge for incoming payment is nil. The outgoing payment fee is US$50 (flat fee) excluding overseas bank charges. The monthly maintenance cost of a USD account is nil and for a CHF account is CHF50 (plus deposit facility fee of 1% PA on credit balance). There is no charge for internet banking.

  PLEASE NOTE: Bank tariffs may be changed anytime at the sole discretion of the bank. Therefore, we suggest that you contact us or visit the bank’s website for updated details on specific fees and charges.

  The Starting Business professional service fee for the assistance of bank account opening does not include any bank charges and commissions, account maintenance fees, transaction fees, initial deposit, or minimum balance.