Pacific Private Bank
Personal Account Opening in Vanuatu
Based in Vanuatu, Pacific Private Bank is a well-known international financial center in Asia for personal banking, tax structuring, and multi-currency accounts.
It offers a full range of banking services for its international clientele, including full e-banking facilities and a prepaid card.
Pre Paid Card
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FACTS & INFO
REQUIREMENTS FOR ACCOUNT SETUP:
- Personal presence at the bank is not required.
- An account opening fee of €500 will be required.
- The initial deposit required is €1,000.
- The account will be activated within 10-14 business days (upon receipt of the original documents by the bank).
- 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.
Documents that are not in English must be accompanied by a certified translation.
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
ABOUT THE BANK
Pacific Private Bank was founded in 1997 in Vanuatu as a full-service bank supervised by Vanuatu's central bank. The bank focuses on providing wealth and asset management, and tailored investment solutions.
In 2015 the bank was acquired by Enercom Capital, an investment company owned by Lithuanian businessman Vilius Kavaliauskas. This acquisition coincided with an important capital injection effected by the new owner, shoring up Pacific Private Bank’s core capital well above international standards set out by the Basel Committee on Banking Supervision and local regulatory requirements set out by the Reserve Bank of Vanuatu.
Pacific Private Bank meets the requirements of the US Patriot Act regulations, FATCA, and Anti-Money Laundering (AML) regulations.
WHAT PACIFIC PRIVATE BANK OFFERS:
- Corporate and personal accounts in USD, EUR, AUD, NZD, SGD, GBP, CAD and RUB.
- Online and mobile banking.
- International wire transfers.
- Prepaid MasterCard.
- Savings and term deposits.
- Multilingual customer support.
- Private banking.
- Trading services.
- Account allocation timeframe of 10 to 14 business days (upon receipt of the original documents by the bank).
BANK TARIFFS AND CHARGES
The Pacific Private Bank can be considered as a medium-cost bank with respect to incoming/outgoing payments and account maintenance. The cost of account opening is €500, and monthly maintenance charge per account is €250. Inward remittances are free of charge, and for outgoing international transfer the commission will be 0.1% (minimum €75; maximum €500) of the payment amount. Wealth management and asset management account opening and maintenance are free of charge.
Monthly maintenance of a prepaid SpectroCard is €12.50 with card load fees of 1.5 % on all funds deposited to the card. The cash withdrawal fee is 2% (minimum €3; maximum €7.50). A card opening fee of €150 will be required.
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.