Payment system Connectum (England)

Personal, settlement, merchant, processing (multi-currency accounts).

Accounts are opened only for companies from the Eurozone (EEA and EU).

May consider opening accounts for hight-risk activities on an individual basis.

The payment system is focused on acquiring services.

Opening a transaction account without processing is considered on an individual basis.

Available SWIFT, SEPA payments. Provide individual GB IBAN.

The cost of opening an operating account without processing:

- for individuals - 500 EUR;

- for legal entities - 2000 EUR.

Urgent opening of a transaction account without processing:

- for individuals - 1000 EUR;

- for legal entities - 3000 EUR.

The cost of closing an account - 100 EUR.

When opening an operating account together with a processing one, opening an operating account is free of charge!

Tariffs for acquiring are provided on an individual basis. Several factors influence the rate: the level of risk of the company, the reputation in the network, the level of chargebacks.

There is not.

Free Internet banking.

Account maintenance - 25 EUR/month.

Commission for the account balance – 0,6% per annum (charged monthly).

Domestic payments are free.

Outgoing and incoming payments on an operating account without a merchant account:

- SEPA payments (per transaction) - 0.5% (min. 5 EUR);

- non-SEPA payments (per transaction) – 1% (min. 10 EUR).

Outgoing and incoming payments on an operating account with a merchant account:

Inbox:

- SEPA payments from other banks - 5 EUR;

- payments from another bank without SEPA - 10 EUR.

Outgoing:

- SEPA payments (per transaction) – 20 EUR;

- non-SEPA payments (per transaction) – 60 EUR.

More details about the payment system tariffs can be found at the link.

The procedure of opening the account consists of two stages: the preliminary stage and final stage of opening an account.

The preliminary stage includes the process of collecting and filing your documents which are required for opening an account. The terms of preliminary stage depends wholly on you.

The account is opened within 10 working days from the date of submission of all necessary documents in the payment system.

Connectum follows KYC policy and reserves the right to require additional documents what may lead to account opening term exceeding, as well as refusing of account opening without reasons explanation. 

Working languages: Russian, English.

MasterCard, Visa, MIR, UnionPay.

Company documents. Originals of all statutory documents are required. In case if more than one year has elapsed since the date of company registration, the payment system may request:

- Certificate of Good Standing under apostille;

- Certificate of Incumbency under apostille;

- power of attorney and/or Declaration of Trust.

For companies that have not previously carried out activities, it is necessary to provide a business plan and a description of the planned cash flows.

Documents for the account holder:

- original of national passport;

- original of foreign passport;

- curriculum vitae;

- original of utility bill (for gas, electricity) from the place of residence no older than 3 months (to prove the place of residence).

Documents for the beneficiary:

- original of national passport;

- original of foreign passport;

- curriculum vitae;

- original of utility bill (for gas, electricity) from the place of residence no older than 3 months (to prove the place of residence);

- The payment system can also request documents confirming the source of income (wealth) of the beneficiary.It can be:

a certificate from the place of work indicating salary and statement of personal account, where payroll is displayed;

tax returns;

documents confirming inheritance;

documents confirming money donation, as well as their availability on accounts;

documents confirming the  presence/sale of real estate/movable property;

if the beneficiary is the founder of the company - documents for the company, extracts from company accounts, tax returns, documents confirming the payment of dividends;

if the beneficiary is a private entrepreneur - extract from the register, tax returns on the entrepreneur, bank statements;

Certificate of deposit from the bank, as well as documents confirming the source of income;

other documents that show sources of income.

Documents for nominal director, shareholder and secretary (in case of using nominal service by company):

- set of documents affixed with apostille, which includes copies of: passport, utility bill no older than 3 months and power of attorney. (if nominal director, shareholder and secretary are natural persons);

- set of statutory documents affixed with apostille, which includes Certificate of Incorporation, Memorandum, Article of Association, Minutes of the director designation (if director is legal entity). Also may require Certificate of Good Standing affixed with apostille, Certificate of Incumbency affixed with apostille and documents on this director, which includes set of documents affixed with apostille: copy of passport, utility bill no older than 3 months and power of attorney.

In the process of consideration, the payment system may request additional documents!

It is necessary to visit our office in order to fill in a questionnaire and to certify documents for the company, attorney and beneficiary. After that copies of all documents are sent to the payment system for review and opening an account.

Opening an account is performed remotely.