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Corporate Account - FAQs

1. How can I open a Corporate Account?

A Corporate Account can only be opened by the head of a company who has completed the identification procedure. 

If you are not the head of a company, but an authorized person, you also need to complete the identification procedure. Afterward, you'll be required to submit a power of attorney or a permission with e-signature by the company head to complete the steps to open a Corporate account.

2. Why do I have to use a DSBC Financial Europe Corporate Account instead of Personal Account?

The main difference lies in their purposes:

A Personal Account is mainly for personal needs such as money transfer, individual consumption with simpler procedures.

A Corporate Account is more about 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 and the exclusive Merchant Account function. In short, if you are interested in running your business online effectively, you should choose to open a DSBC Financial Europe Corporate Account

See more:

3. How to open an account for a company which is not registered in Lithuania?

Companies that are not registered in Lithuania can apply for a DSBC Financial Europe Corporate account with a simple procedure. The companies only need to provide following documents:

  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…).
4. I carry out individual activities under a business certificate. I need a business account.

If you carry out individual activities under a business certificate, you can collect payments to your Personal Account.

5. The head of the company has changed. What should I do?

The new head of the company has to register in the DSBC Financial Europe system. After registering and completing the identification procedure, he/she has to click on the cogwheel icon at the upper-right corner and select Corporate Account. After he/she enters the company code, the company will be assigned to him/her and the rights of the previous manager will be canceled.

In case the process of assigning the Corporate Account to the new head fails (the data on the head of the company may be not updated), please send us an extended statement from the Center of Registers to our Client Service Department with the data of the company and the new head. We will remove the access rights of the previous manager and provide them with the new one.

You can submit documents in your account: select the cogwheel in the upper menu and click on My documents.

6. I can't find the Corporate Account

After logging in to your DSBC Financial Europe account, you will see your name and surname on the upper-right corner. Here you can choose the account (Corporate or Personal) you want to manage.

7. What activities can be defined as prohibited?

Production or trade in any product or activity deemed illegal under host country's laws or regulations or international conventions and agreements, including, without limitation, host country's requirements related to environmental, health and safety, and labor aspects.

 

  • Production or trade in weapons and munitions.
  • Production or trade in alcoholic beverages (including beer and wine).
  • Production or trade in tobacco.
  • Gambling, casinos and equivalent enterprises.
  • Production or trade in pharmaceuticals subject to international phase outs or bans.
  • Production or trade in pesticides/herbicides subjected to international phase outs or bans.
  • Production or activities involving harmful or exploitative forms of forced labor/harmful child labor.
  • Production, trade, storage, or transport of significant volumes of hazardous chemicals, or commercial scale usage of hazardous chemicals.
  • Any business relating to pornography or prostitution.
  • Abusing confidential or material, non-public information.
  • Trading of Animal Fur, Bones and Ivory.
  • Diamond trading without Kimberley Certification.
  • Indecent and Obscene material including child pornography.
  • Cultural objects like sculptures, statues, antiques, collectors items, archeological pieces especially from Iraq.
  • Trading of Fireworks, explosives and Nuclear Weapons.
  • Drug trafficking including chemicals used to manufacture synthetic drug or drugs.
  • Bitcoin Binary Trading/Virtual Money without license.
  • Investment from several individuals (third party) without proper approval.
  • Human Body Parts and Pathogens.
  • Gambling/Betting/Casino/Horse Racing/Bingo/Sports Betting without license.
  • Online Casino/Online Poker/Online Gambling/Online Betting without license.
  • Prize Draws/Gift Cards/Any form of Lottery/Scratch cards without license.
  • Trading in Derivatives/Options/Hedging/FOREX.
  • Money exchange dealer without license.
  • Jewel, Gem, Precious metal dealers without license.
  • Non - Profit Organization.

The above list is not exhaustive and may be subject to regular changes.

8. Which countries are defined as “high risk” third countries?

DSBC Financial Europe will refuse to work with any customers whose nationality is in the “rejected jurisdiction” list under any circumstances.

According to the European Commission, the purpose of a high risk third country list is to ensure safe and effective business activities.

DSBC Financial Europe is not an exception, we aim to deliver extreme security and trust to our customers so we are committed to comply with the list.

Please take a look below:

Rejected List of Jurisdiction/Nationality with DSBC Financial Europe

I. FOR REMITTANCE SERVICES (WITH IBAN ACCOUNT)

EU list of non-cooperative jurisdictions

  1. American Samoa
  2. Cayman Islands
  3. Fiji
  4. Guam
  5. Oman
  6. Palau
  7. Panama
  8. Samoa
  9. Trinidad and Tobago
  10. US Virgin Islands
  11. Vanuatu
  12. Seychelles

FATF highrisk list

  1. Democratic People's Republic of Korea (DPRK)
  2. Iran
  3. Afghanistan
  4. Iraq
  5. Trinidad and Tobago
  6. Albania
  7. The Bahamas
  8. Barbados
  9. Botswana
  10. Cambodia
  11. Ghana
  12. Iceland
  13. Jamaica
  14. Mauritius
  15. Mongolia
  16. Myanmar
  17. Nicaragua
  18. Pakistan
  19. Panama
  20. Syria
  21. Uganda
  22. Yemen
  23. Zimbabwe

II. FOR PAYMENT CARD - PREPAID MASTERCARD

EU list of non-cooperative jurisdictions

  1. American Samoa
  2. Fiji
  3. Guam
  4. Oman
  5. Samoa
  6. Trinidad and Tobago
  7. US Virgin Islands
  8. Vanuatu

Card Issuer rejected list - Company or Nationality

  1. Afghanistan
  2. Angola
  3. Burundi
  4. Central African Republic
  5. Congo
  6. Cote D'Ivoire
  7. Crimea
  8. Cuba
  9. Eritrea
  10. Gaza Strip
  11. Guinea Bissau
  12. Iran
  13. Islamic Republic of Iraq
  14. Lebanon
  15. Liberia
  16. Libya
  17. Mali
  18. Myanmar
  19. North Korea
  20. Sierra Leone
  21. Somalia
  22. South Sudan
  23. Sudan
  24. Syria
  25. Venezuela
  26. West Bank (Palestinian Territory, Occupied)
  27. Yemen
  28. Zimbabwe
9. What is an Offshore Account (overseas account, international account)?

An account held by a foreign offshore bank is often referred to as an offshore account.

Usually, the individual or company maintains an offshore account for the financial and legal advantages it offers.

See more: The 5 Benefits of Offshore Bank Accounts

10. Can I open an offshore account from another country?

Totally yes. DSBC Financial Europe will welcome and accept online applications to open an offshore account with our dedicated consultant team and professional experts.

11. How do I open an international account with DSBC Financial Europe?

You or your corporation can access www.dsbcf.com.

Then click the "Open an account" button on our website, select Corporate Account tab and fill in all the required information.

Our Relationship Manager will contact you soon to instruct and assist you in account opening.

The process is simple and easy. Once we receive the required documents, DSBC Financial Europe will have your account opened within 3 or 4 working days after the successful 1st transaction of €3,000 (available balance when the official account is created and can be used for outgoing transactions).

See more:

 

12. How does an offshore account work?

Unlike domestic accounts, offshore accounts offer the option of which currency to retain the funds. This may be a very useful feature of an offshore account, particularly if one's domestic currency is unstable or is expected to depreciate.

13. What are the benefits of an offshore account / international banking?

In short, the 5 key advantages of offshore banking are:

  1. Securing and protecting your money.
  2. Enjoying the highest standard of service.
  3. Enabling easy and affordable access to funds.
  4. Probably saving tax on deposits, investments and investment.
  5. Enabling access to foreign investment opportunities.
14. Is there any extra fee associated with my corporate account during the time of usage?

There is no extra fee associated with your corporate account during the time of usage, only an amount of €1,200 is kept to secure the monthly fee of Account Maintenance in 1 year.

15. May I have more information about DSBC Financial Europe in terms of the company's profile, license, etc.?

DSBC Financial Europe is a payment institution that is licensed with the Central Bank in Lithuania in 2017. In addition, we are also approved by all EU countries to do business in 31 nations. As a payment institution, we primarily provide personal current account and corporate current account services. Our extra services are foreign exchange and merchant account services. Not only do we run business across Europe but also around the globe.

About Us

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

We provide the best platform payment as well as transfer money online easily worldwide. Whether your need for personal or business we can help fit your need smoothly.