Russian, Ukrainian & FSU Information & Manosphere Discussion Forums
Information & Chat => The Expatriate Life: Living in the FSU, Asia or Elsewhere => Topic started by: SuperPanda on November 13, 2016, 12:38:05 PM
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As it appears I am spending more and more time in Russia (usually Moscow) after meeting Alena, I am considering opening a Russian account as FX fees are slowly killing me on my UK cards.
I have looked online and I like Alfa-Bank Maximum+, Bank of Moscow's Height and Raiffeisen's Premium packages which all come with Mastercard World Elite & Visa Infinitie/Signature debit cards as well as other benefits from concierge to insurance from 1mil-3mil ruble deposit which is easy to hit.
However I am yet to ascertain if being a non-resident will bar me from opening an account with either of the aforementioned banks. I actually had a basic account with sberbank that I stupidly closed (hindsight is 20/20 :fighting0025:) a while ago.
Does anyone have any recent experience on opening an account?
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As it appears I am spending more and more time in Russia (usually Moscow) after meeting Alena, I am considering opening a Russian account as FX fees are slowly killing me on my UK cards.
I have looked online and I like Alfa-Bank Maximum+, Bank of Moscow's Height and Raiffeisen's Premium packages which all come with Mastercard World Elite & Visa Infinitie/Signature debit cards as well as other benefits from concierge to insurance from 1mil-3mil ruble deposit which is easy to hit.
However I am yet to ascertain if being a non-resident will bar me from opening an account with either of the aforementioned banks. I actually had a basic account with sberbank that I stupidly closed (hindsight is 20/20 :fighting0025:) a while ago.
Does anyone have any recent experience on opening an account?
http://www.expatica.com/ru/finance/Banking-in-Moscow_104119.html
https://www.ubs.com/ru/en/wealth_management.html
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As it appears I am spending more and more time in Russia (usually Moscow) after meeting Alena, I am considering opening a Russian account as FX fees are slowly killing me on my UK cards.
I have looked online and I like Alfa-Bank Maximum+, Bank of Moscow's Height and Raiffeisen's Premium packages which all come with Mastercard World Elite & Visa Infinitie/Signature debit cards as well as other benefits from concierge to insurance from 1mil-3mil ruble deposit which is easy to hit.
However I am yet to ascertain if being a non-resident will bar me from opening an account with either of the aforementioned banks. I actually had a basic account with sberbank that I stupidly closed (hindsight is 20/20 :fighting0025:) a while ago.
Does anyone have any recent experience on opening an account?
I have accounts with both Alpha and Raiffeisen, no problems to date..
May I suggest that you open 2 online banking acc's with the latter, one Rouble, the other Dollar, it makes for the easiest transfer of funds, Dollars into your acc from the UK is quick and easy, then make a transfer of required amounts to your Rouble acc, rates are mostly good, and quick...
With both acc's you can be offered both debit, and credit cards.. (ALL of which work in Russia without any problem {Well, none yet nor in the past 8 years}).
If you have a UK Nationwide acc, with both cards, you should find them the cheapest to use, i.e. lowest cost/charges, to use in an emergency...
As long as you have a valid passport, visa, and registration at an address in Russia, you may open a bank acc.. with a Russian bank..
HTH..
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May I suggest that you open 2 online banking acc's with the latter, one Rouble, the other Dollar, it makes for the easiest transfer of funds, Dollars into your acc from the UK is quick
The last thing any Brit wants to do is use dollars into Russia; this is 20 years out of date. Why on earth would you choose to lose out (as a Brit) by going through an alien currency first? The UK is the world's 5th largest economy. They are familiar with pounds in Russia. :)
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May I suggest that you open 2 online banking acc's with the latter, one Rouble, the other Dollar, it makes for the easiest transfer of funds, Dollars into your acc from the UK is quick
The last thing any Brit wants to do is use dollars into Russia; this is 20 years out of date. Why on earth would you choose to lose out (as a Brit) by going through an alien currency first? The UK is the world's 5th largest economy. They are familiar with pounds in Russia. :)
Unfortunately, none of the banks that I use are able (for whatever reason) to offer a £ acc..
Fortunately I do not lose out, as my forex acc is normally well represented with $'s
There is also the problem of transferring £'s from the UK to Russia, its much easier transferring $'s..
Euro acc's are available also.. but again, probs when transferring..
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The last time I transferred USD to Russia was five years ago. My wife has a ruble account and a USD acount.
They both still exist so I hope they still work. Next summer we are going to go back to Russia (Kirov).
Does anyone have experience wiring USD from Russia to the USA? If so how much? are there limits?
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May I suggest that you open 2 online banking acc's with the latter, one Rouble, the other Dollar, it makes for the easiest transfer of funds, Dollars into your acc from the UK is quick
The last thing any Brit wants to do is use dollars into Russia; this is 20 years out of date. Why on earth would you choose to lose out (as a Brit) by going through an alien currency first? The UK is the world's 5th largest economy. They are familiar with pounds in Russia. :)
Very true in theory, But unfortunately the reality does not match
I have tried for years to be able to change Pound to Rouble in Country and very few and rare occasions only has it ever happened, the only bank i have found that will at times but depends which way the wind is blowing to accept Sterling is the Bank of Moscow, but the hassle far out weighs the effort
I too have a Raiffeisen Rouble /Euro account and also a Sberbank Rouble /Euro account of which i use to transfer if i need
Or i mostly just take a bunch with me and exchange at a better rate with a street guy i know :thumbsup:
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I have tried for years to be able to change Pound to Rouble in Country and very few and rare occasions only has it ever happened, the only bank i have found that will at times but depends which way the wind is blowing to accept Sterling is the Bank of Moscow, but the hassle far out weighs the effort
My wife changes £ every year at the Sberbank with never an issue. I have done the same many times.
If we wire £ to the Sberbank it arrives in the account in Roubles.
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Unfortunately, none of the banks that I use are able (for whatever reason) to offer a £ acc..
Hmm
That is 'interesting' .. you stated that you have a Raiffeisen Bank account in Russia - I have, too - and a GBP account ...
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Confederate, I looked at that article before I posted but it didn't say regarding non-residents and UBS aren't suitable as they offer banking services in Swiss from what I recall also I need $10mil, at most I am worth $4mil [cash, property and investments] plus a further $250k from my dismissal settlement.
Gipsy, thank you for the advice, I won't open a USD account as I have no need for it but I shall look into the currency accounts offered.
I don't have an address where I am registered as I have used tourist visa and hotels, I like Alena a lot but her flat is dreadful. If I get a multiple entry business visa and use the address would that be okay? Ideally I wouldn't want to but if I have to, I shall. Do the same rules apply even if I am paying in a deposit of a couple of million rubles?
I don't bank with Nationwide, only Adam & Co (RBS) and HSBC Premier, both charge stupid fees for overseas use. I will look into them however if they are fee free.
Msmoby, do Raiffeisen offer GBP accounts? I didn't see that in the reading materials I looked at, I was leaning towards Bank of Moscow & Alfa on that basis but if Raiffeisen do, I would rather a European owned bank than Russian owned although I bet service is pretty much the same even with Premium or Private banking.
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Confederate, I looked at that article before I posted but it didn't say regarding non-residents and UBS aren't suitable as they offer banking services in Swiss from what I recall also I need $10mil, at most I am worth $4mil [cash, property and investments] plus a further $250k from my dismissal settlement.
Gipsy, thank you for the advice, I won't open a USD account as I have no need for it but I shall look into the currency accounts offered.
I don't have an address where I am registered as I have used tourist visa and hotels, I like Alena a lot but her flat is dreadful. If I get a multiple entry business visa and use the address would that be okay? Ideally I wouldn't want to but if I have to, I shall. Do the same rules apply even if I am paying in a deposit of a couple of million rubles?
I don't bank with Nationwide, only Adam & Co (RBS) and HSBC Premier, both charge stupid fees for overseas use. I will look into them however if they are fee free.
Msmoby, do Raiffeisen offer GBP accounts? I didn't see that in the reading materials I looked at, I was leaning towards Bank of Moscow & Alfa on that basis but if Raiffeisen do, I would rather a European owned bank than Russian owned although I bet service is pretty much the same even with Premium or Private banking.
I think if I was worth $4 million I wouldn't be on this forum asking stupid questions, I wouldn't need to?
I mean if you have a net worth of $4million you probably would not be a stupid person ? Ok some farmers down in Dorset are worth a lot more and they are pretty stupid. But other than that why would you want to ask guys with just $1.50 for advice about bank accounts?
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Confederate, I looked at that article before I posted but it didn't say regarding non-residents and UBS aren't suitable as they offer banking services in Swiss from what I recall also I need $10mil, at most I am worth $4mil [cash, property and investments] plus a further $250k from my dismissal settlement.
Gipsy, thank you for the advice, I won't open a USD account as I have no need for it but I shall look into the currency accounts offered.
I don't have an address where I am registered as I have used tourist visa and hotels, I like Alena a lot but her flat is dreadful. If I get a multiple entry business visa and use the address would that be okay? Ideally I wouldn't want to but if I have to, I shall. Do the same rules apply even if I am paying in a deposit of a couple of million rubles?
I don't bank with Nationwide, only Adam & Co (RBS) and HSBC Premier, both charge stupid fees for overseas use. I will look into them however if they are fee free.
Msmoby, do Raiffeisen offer GBP accounts? I didn't see that in the reading materials I looked at, I was leaning towards Bank of Moscow & Alfa on that basis but if Raiffeisen do, I would rather a European owned bank than Russian owned although I bet service is pretty much the same even with Premium or Private banking.
I think if I was worth $4 million I wouldn't be on this forum asking stupid questions, I wouldn't need to?
I mean if you have a net worth of $4million you probably would not be a stupid person ? Ok some farmers down in Dorset are worth a lot more and they are pretty stupid. But other than that why would you want to ask guys with just $1.50 for advice about bank accounts?
A lot of people are worth $1mil+ admittedly I got mine through inheritance and Russia is still rather alien when it comes to certain things hence why I am askikg those that have been there and done that for advice although when it comes to it I will no doubt pay to sort it one way or another.
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Msmoby, do Raiffeisen offer GBP accounts? I didn't see that in the reading materials I looked at, I was leaning towards Bank of Moscow & Alfa on that basis but if Raiffeisen do, I would rather a European owned bank than Russian owned although I bet service is pretty much the same even with Premium or Private banking.
YES...
I have RUB, USD,EUR and GBP accounts .. no card attached to the GBP account
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Confederate, I looked at that article before I posted but it didn't say regarding non-residents and UBS aren't suitable as they offer banking services in Swiss from what I recall also I need $10mil, at most I am worth $4mil [cash, property and investments] plus a further $250k from my dismissal settlement.
Gipsy, thank you for the advice, I won't open a USD account as I have no need for it but I shall look into the currency accounts offered.
I don't have an address where I am registered as I have used tourist visa and hotels, I like Alena a lot but her flat is dreadful. If I get a multiple entry business visa and use the address would that be okay? Ideally I wouldn't want to but if I have to, I shall. Do the same rules apply even if I am paying in a deposit of a couple of million rubles?
I don't bank with Nationwide, only Adam & Co (RBS) and HSBC Premier, both charge stupid fees for overseas use. I will look into them however if they are fee free.
Msmoby, do Raiffeisen offer GBP accounts? I didn't see that in the reading materials I looked at, I was leaning towards Bank of Moscow & Alfa on that basis but if Raiffeisen do, I would rather a European owned bank than Russian owned although I bet service is pretty much the same even with Premium or Private banking.
I think if I was worth $4 million I wouldn't be on this forum asking stupid questions, I wouldn't need to?
I mean if you have a net worth of $4million you probably would not be a stupid person ? Ok some farmers down in Dorset are worth a lot more and they are pretty stupid. But other than that why would you want to ask guys with just $1.50 for advice about bank accounts?
A lot of people are worth $1mil+ admittedly I got mine through inheritance and Russia is still rather alien when it comes to certain things hence why I am askikg those that have been there and done that for advice although when it comes to it I will no doubt pay to sort it one way or another.
Better be careful what women you pick up then.. :)
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I think if I was worth $4 million I wouldn't be on this forum asking stupid questions, I wouldn't need to?
I mean if you have a net worth of $4million you probably would not be a stupid person ? Ok some farmers down in Dorset are worth a lot more and they are pretty stupid. But other than that why would you want to ask guys with just $1.50 for advice about bank accounts?
You might be surprised how many on here are worth that or more.
Successful people try not to do dumb things, they do that by asking questions of people who know about the given subject. :coffeeread:
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I think if I was worth $4 million I wouldn't be on this forum asking stupid questions, I wouldn't need to?
I mean if you have a net worth of $4million you probably would not be a stupid person ? Ok some farmers down in Dorset are worth a lot more and they are pretty stupid. But other than that why would you want to ask guys with just $1.50 for advice about bank accounts?
You might be surprised how many on here are worth that or more.
Successful people try not to do dumb things, they do that by asking questions of people who know about the given subject. :coffeeread:
That makes me just a common peasant then.. :laugh:
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I suspect most like UK plc and USA inc. have say $10m in assets and $18m in debt...
I've got nowhere near even a mill uk but I have a fair bit but no debt at all, personal or business.
In fact I just MVL'd my business, took the cash as ER and would need to add up later. Not much tho but good to donate to some Syrians
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I finally spoke to VTB Bank of Moscow and they said that I am required to be a resident, I can't open an account as a tourist even if I have interests in Russia. Only work around (for them) was if I bought a flat which I didn't fancy although there are nice places at good money, I wouldn't know where to start and what is a good investment area for long term growth in property values.
Raiffeisen said similar and I presume other Russian banks will too?
This leads me to wonder if maybe a RUB account in the baltics would be a good move, I remember reading Estonia and Latvia offer such accounts with the added bonus of being in the EU. I guess at the same time I could combine my Euro accounts into one as well which would keep paperwork down!
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I finally spoke to VTB Bank of Moscow and they said that I am required to be a resident, I can't open an account as a tourist even if I have interests in Russia. Only work around (for them) was if I bought a flat which I didn't fancy although there are nice places at good money, I wouldn't know where to start and what is a good investment area for long term growth in property values.
Raiffeisen said similar and I presume other Russian banks will too?
This leads me to wonder if maybe a RUB account in the baltics would be a good move, I remember reading Estonia and Latvia offer such accounts with the added bonus of being in the EU. I guess at the same time I could combine my Euro accounts into one as well which would keep paperwork down!
why not purchase an inexpensive flat? it could easily double or triple in value once sanctions are lifted.
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I finally spoke to VTB Bank of Moscow and they said that I am required to be a resident, I can't open an account as a tourist even if I have interests in Russia. Only work around (for them) was if I bought a flat which I didn't fancy although there are nice places at good money, I wouldn't know where to start and what is a good investment area for long term growth in property values.
Raiffeisen said similar and I presume other Russian banks will too?
This leads me to wonder if maybe a RUB account in the baltics would be a good move, I remember reading Estonia and Latvia offer such accounts with the added bonus of being in the EU. I guess at the same time I could combine my Euro accounts into one as well which would keep paperwork down!
why not purchase an inexpensive flat? it could easily double or triple in value once sanctions are lifted.
I have looked at a couple while I was there and since online but I don't know the right areas to look ??? But there are some seriously nice places for £150k (1 bed, open plan, modern), makes me wonder why Alena lives in a rundown block :ROFL:
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I finally spoke to VTB Bank of Moscow and they said that I am required to be a resident, I can't open an account as a tourist even if I have interests in Russia. Only work around (for them) was if I bought a flat which I didn't fancy although there are nice places at good money, I wouldn't know where to start and what is a good investment area for long term growth in property values.
Raiffeisen said similar and I presume other Russian banks will too?
This leads me to wonder if maybe a RUB account in the baltics would be a good move, I remember reading Estonia and Latvia offer such accounts with the added bonus of being in the EU. I guess at the same time I could combine my Euro accounts into one as well which would keep paperwork down!
why not purchase an inexpensive flat? it could easily double or triple in value once sanctions are lifted.
I have looked at a couple while I was there and since online but I don't know the right areas to look ??? But there are some seriously nice places for £150k (1 bed, open plan, modern), makes me wonder why Alena lives in a rundown block :ROFL:
Maybe it's the 20% mortgage rate over a two-year only term? That's all my better half's brother back in Russia could get, was 5 years or so ago though....
If it's a cash purchase it's different but I'd think twice about dumping £150k in a country ranked 119th in the corruption league, Denmark number one, the least corrupt BTW!
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I finally spoke to VTB Bank of Moscow and they said that I am required to be a resident, I can't open an account as a tourist even if I have interests in Russia. Only work around (for them) was if I bought a flat which I didn't fancy although there are nice places at good money, I wouldn't know where to start and what is a good investment area for long term growth in property values.
Raiffeisen said similar and I presume other Russian banks will too?
This leads me to wonder if maybe a RUB account in the baltics would be a good move, I remember reading Estonia and Latvia offer such accounts with the added bonus of being in the EU. I guess at the same time I could combine my Euro accounts into one as well which would keep paperwork down!
why not purchase an inexpensive flat? it could easily double or triple in value once sanctions are lifted.
I have looked at a couple while I was there and since online but I don't know the right areas to look ??? But there are some seriously nice places for (1 bed, open plan, modern), makes me wonder why Alena lives in a rundown block :ROFL:
Maybe it's the 20% mortgage rate over a two-year only term? That's all my better half's brother back in Russia could get, was 5 years or so ago though....
If it's a cash purchase it's different but I'd think twice about dumping £150k in a country ranked 119th in the corruption league, Denmark number one, the least corrupt BTW!
If one sold a flat for £150k how does one get the money out of Russia?
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I finally spoke to VTB Bank of Moscow and they said that I am required to be a resident, I can't open an account as a tourist even if I have interests in Russia. Only work around (for them) was if I bought a flat which I didn't fancy although there are nice places at good money, I wouldn't know where to start and what is a good investment area for long term growth in property values.
Raiffeisen said similar and I presume other Russian banks will too?
This leads me to wonder if maybe a RUB account in the baltics would be a good move, I remember reading Estonia and Latvia offer such accounts with the added bonus of being in the EU. I guess at the same time I could combine my Euro accounts into one as well which would keep paperwork down!
why not purchase an inexpensive flat? it could easily double or triple in value once sanctions are lifted.
I have looked at a couple while I was there and since online but I don't know the right areas to look ??? But there are some seriously nice places for £150k (1 bed, open plan, modern), makes me wonder why Alena lives in a rundown block :ROFL:
Maybe it's the 20% mortgage rate over a two-year only term? That's all my better half's brother back in Russia could get, was 5 years or so ago though....
If it's a cash purchase it's different but I'd think twice about dumping £150k in a country ranked 119th in the corruption league, Denmark number one, the least corrupt BTW!
The mortgage rate during the past 8-9 years has not been that high, so there's something wrong here..
Most probably the person could not get a "Normal rated" mortgage for whatever reason, and was left with the alternative of taking a 20% personal loan...OR a high interest short term loan from some in-regulated source..
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I finally spoke to VTB Bank of Moscow and they said that I am required to be a resident, I can't open an account as a tourist even if I have interests in Russia. Only work around (for them) was if I bought a flat which I didn't fancy although there are nice places at good money, I wouldn't know where to start and what is a good investment area for long term growth in property values.
Raiffeisen said similar and I presume other Russian banks will too?
This leads me to wonder if maybe a RUB account in the baltics would be a good move, I remember reading Estonia and Latvia offer such accounts with the added bonus of being in the EU. I guess at the same time I could combine my Euro accounts into one as well which would keep paperwork down!
why not purchase an inexpensive flat? it could easily double or triple in value once sanctions are lifted.
I have looked at a couple while I was there and since online but I don't know the right areas to look ??? But there are some seriously nice places for (1 bed, open plan, modern), makes me wonder why Alena lives in a rundown block :ROFL:
Maybe it's the 20% mortgage rate over a two-year only term? That's all my better half's brother back in Russia could get, was 5 years or so ago though....
If it's a cash purchase it's different but I'd think twice about dumping £150k in a country ranked 119th in the corruption league, Denmark number one, the least corrupt BTW!
If one sold a flat for £150k how does one get the money out of Russia?
Bank transfer....
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I finally spoke to VTB Bank of Moscow and they said that I am required to be a resident, I can't open an account as a tourist even if I have interests in Russia. Only work around (for them) was if I bought a flat which I didn't fancy although there are nice places at good money, I wouldn't know where to start and what is a good investment area for long term growth in property values.
Raiffeisen said similar and I presume other Russian banks will too?
This leads me to wonder if maybe a RUB account in the baltics would be a good move, I remember reading Estonia and Latvia offer such accounts with the added bonus of being in the EU. I guess at the same time I could combine my Euro accounts into one as well which would keep paperwork down!
why not purchase an inexpensive flat? it could easily double or triple in value once sanctions are lifted.
I have looked at a couple while I was there and since online but I don't know the right areas to look ??? But there are some seriously nice places for £150k (1 bed, open plan, modern), makes me wonder why Alena lives in a rundown block :ROFL:
She may be unable to purchase anything more expensive, or may not have the required income for a large mortgage..
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I finally spoke to VTB Bank of Moscow and they said that I am required to be a resident, I can't open an account as a tourist even if I have interests in Russia. Only work around (for them) was if I bought a flat which I didn't fancy although there are nice places at good money, I wouldn't know where to start and what is a good investment area for long term growth in property values.
Raiffeisen said similar and I presume other Russian banks will too?
This leads me to wonder if maybe a RUB account in the baltics would be a good move, I remember reading Estonia and Latvia offer such accounts with the added bonus of being in the EU. I guess at the same time I could combine my Euro accounts into one as well which would keep paperwork down!
why not purchase an inexpensive flat? it could easily double or triple in value once sanctions are lifted.
I have looked at a couple while I was there and since online but I don't know the right areas to look ??? But there are some seriously nice places for £150k (1 bed, open plan, modern), makes me wonder why Alena lives in a rundown block :ROFL:
Maybe it's the 20% mortgage rate over a two-year only term? That's all my better half's brother back in Russia could get, was 5 years or so ago though....
If it's a cash purchase it's different but I'd think twice about dumping £150k in a country ranked 119th in the corruption league, Denmark number one, the least corrupt BTW!
The mortgage rate during the past 8-9 years has not been that high, so there's something wrong here..
Most probably the person could not get a "Normal rated" mortgage for whatever reason, and was left with the alternative of taking a 20% personal loan...OR a high interest short term loan from some in-regulated source..
Maybe, more likely male to female back to male translation! She's very clever, doing her third degree now but can be incredibly thick as well, like swearing blind there are nine months in a year once. (she meant academic year she said but I know that was a ploy to deflect her brainfart...)
I'll have to ask now and I'll get the 'oh, I can't remember and I never said that shit...'
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I finally spoke to VTB Bank of Moscow and they said that I am required to be a resident, I can't open an account as a tourist even if I have interests in Russia. Only work around (for them) was if I bought a flat which I didn't fancy although there are nice places at good money, I wouldn't know where to start and what is a good investment area for long term growth in property values.
Raiffeisen said similar and I presume other Russian banks will too?
This leads me to wonder if maybe a RUB account in the baltics would be a good move, I remember reading Estonia and Latvia offer such accounts with the added bonus of being in the EU. I guess at the same time I could combine my Euro accounts into one as well which would keep paperwork down!
I have just this moment come off the phone, after speaking with Both Sberbank, and Raiffeisen Bank, re this question.
They have both told me that one has to be in Ru, on a valid visa, and registered at a residential address in order to open an account with them, with Raiffeisen, one can do this on the phone, and with Sberbank, one must visit one of their larger branches in person, where the opening of an account will be considered by the HQ, they also state that unless there are serious issues, account will be opened, takes 2-4 days for said response from the bank...
One may open a savings account immediately without the wait, which after a period of time allows the person to also open a current acc..
HTH..
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I finally spoke to VTB Bank of Moscow and they said that I am required to be a resident, I can't open an account as a tourist even if I have interests in Russia. Only work around (for them) was if I bought a flat which I didn't fancy although there are nice places at good money, I wouldn't know where to start and what is a good investment area for long term growth in property values.
Raiffeisen said similar and I presume other Russian banks will too?
This leads me to wonder if maybe a RUB account in the baltics would be a good move, I remember reading Estonia and Latvia offer such accounts with the added bonus of being in the EU. I guess at the same time I could combine my Euro accounts into one as well which would keep paperwork down!
why not purchase an inexpensive flat? it could easily double or triple in value once sanctions are lifted.
I have looked at a couple while I was there and since online but I don't know the right areas to look ??? But there are some seriously nice places for £150k (1 bed, open plan, modern), makes me wonder why Alena lives in a rundown block :ROFL:
Maybe it's the 20% mortgage rate over a two-year only term? That's all my better half's brother back in Russia could get, was 5 years or so ago though....
If it's a cash purchase it's different but I'd think twice about dumping £150k in a country ranked 119th in the corruption league, Denmark number one, the least corrupt BTW!
The mortgage rate during the past 8-9 years has not been that high, so there's something wrong here..
Most probably the person could not get a "Normal rated" mortgage for whatever reason, and was left with the alternative of taking a 20% personal loan...OR a high interest short term loan from some in-regulated source..
Maybe, more likely male to female back to male translation! She's very clever, doing her third degree now but can be incredibly thick as well, like swearing blind there are nine months in a year once. (she meant academic year she said but I know that was a ploy to deflect her brainfart...)
I'll have to ask now and I'll get the 'oh, I can't remember and I never said that shit...'
Best just to nod your head at anything women say Ste... works wonders for a peaceful life... ;D
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I finally spoke to VTB Bank of Moscow and they said that I am required to be a resident, I can't open an account as a tourist even if I have interests in Russia. Only work around (for them) was if I bought a flat which I didn't fancy although there are nice places at good money, I wouldn't know where to start and what is a good investment area for long term growth in property values.
Raiffeisen said similar and I presume other Russian banks will too?
This leads me to wonder if maybe a RUB account in the baltics would be a good move, I remember reading Estonia and Latvia offer such accounts with the added bonus of being in the EU. I guess at the same time I could combine my Euro accounts into one as well which would keep paperwork down!
why not purchase an inexpensive flat? it could easily double or triple in value once sanctions are lifted.
I have looked at a couple while I was there and since online but I don't know the right areas to look ??? But there are some seriously nice places for £150k (1 bed, open plan, modern), makes me wonder why Alena lives in a rundown block :ROFL:
She may be unable to purchase anything more expensive, or may not have the required income for a large mortgage..
She probably can't and to her credit she has done a wonderful job of the flat and how homely it feels, I am just not a fan of the outside but obviously there are differences in pay and what one can get for their money.
Ste, 20% is double what you can get today in Russia, when they were trying to sell me on the flat option they were offering 10-11% with 20% down. 20% seems like extortion to me.
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I finally spoke to VTB Bank of Moscow and they said that I am required to be a resident, I can't open an account as a tourist even if I have interests in Russia. Only work around (for them) was if I bought a flat which I didn't fancy although there are nice places at good money, I wouldn't know where to start and what is a good investment area for long term growth in property values.
Raiffeisen said similar and I presume other Russian banks will too?
This leads me to wonder if maybe a RUB account in the baltics would be a good move, I remember reading Estonia and Latvia offer such accounts with the added bonus of being in the EU. I guess at the same time I could combine my Euro accounts into one as well which would keep paperwork down!
why not purchase an inexpensive flat? it could easily double or triple in value once sanctions are lifted.
I have looked at a couple while I was there and since online but I don't know the right areas to look ??? But there are some seriously nice places for £150k (1 bed, open plan, modern), makes me wonder why Alena lives in a rundown block :ROFL:
She may be unable to purchase anything more expensive, or may not have the required income for a large mortgage..
She probably can't and to her credit she has done a wonderful job of the flat and how homely it feels, I am just not a fan of the outside but obviously there are differences in pay and what one can get for their money.
Ste, 20% is double what you can get today in Russia, when they were trying to sell me on the flat option they were offering 10-11% with 20% down. 20% seems like extortion to me.
Crazy world isn't it - my colleague at work says he has a mortgage at a negative interest rate, 0.05% or so, not much but still....
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Crazy world isn't it - my colleague at work says he has a mortgage at a negative interest rate, 0.05% or so, not much but still....
If only that were true, I would be highly surprised to see anyone get that rate unless they were connected :-X
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Crazy world isn't it - my colleague at work says he has a mortgage at a negative interest rate, 0.05% or so, not much but still....
If only that were true, I would be highly surprised to see anyone get that rate unless they were connected :-X
My Danske Bank here is negative interest i.e. none!!
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Here!!
http://www.bloomberg.com/news/articles/2016-06-06/denmark-land-below-zero-where-negative-interest-rates-are-normal
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Crazy world isn't it - my colleague at work says he has a mortgage at a negative interest rate, 0.05% or so, not much but still....
If only that were true, I would be highly surprised to see anyone get that rate unless they were connected :-X
My Danske Bank here is negative interest i.e. none!!
Wow I read the link and wow, good for thlse with a mortgage in Denmark!
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If you pay bank charges that exceed any notional interest then the effectively you have a negative interest rate. Interest represents the profit that the bank makes on holding your money. If there is no profit from holding your money then they must charge you to hold the cash.
I'd bet that your mate with the negative interest mortgage is paying management or arrangement fees that represent the profit the bank would need to make on the deal.
Here's an example: CLICK HERE! (http://back.ly/gqmB)
His interest rate first dipped below zero last summer. Because of various mortgage fees, he still pays a modest amount each quarter in addition to his principal payment.
This can look like a good deal if the bank normally works on a margin of, say, 1% between the rate they borrow at and the rate they lend at. All that must be replaced to the bank is the amount that the 1% would represent, a much smaller figure than the total interest charge would be in a 'normal' economy. The 'modest fees' referred to in the article might actually be quite profitable for the lender. ;)
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I've just twigged what you are doing with the CLICK HERE's!!
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I've just twigged what you are doing with the CLICK HERE's!!
Yeah, providing helpful links to topics under discussion! tiphat
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I finally spoke to VTB Bank of Moscow and they said that I am required to be a resident, I can't open an account as a tourist even if I have interests in Russia. Only work around (for them) was if I bought a flat which I didn't fancy although there are nice places at good money, I wouldn't know where to start and what is a good investment area for long term growth in property values.
Raiffeisen said similar and I presume other Russian banks will too?
This leads me to wonder if maybe a RUB account in the baltics would be a good move, I remember reading Estonia and Latvia offer such accounts with the added bonus of being in the EU. I guess at the same time I could combine my Euro accounts into one as well which would keep paperwork down!
Yes, pretty much have to be regisered to get any perk. You'll need to translate your documents with most, if not all banks.
Correct me if I'm wrong, but weren't you planning to come to Russia and spend a good amount of time here?
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I finally spoke to VTB Bank of Moscow and they said that I am required to be a resident, I can't open an account as a tourist even if I have interests in Russia. Only work around (for them) was if I bought a flat which I didn't fancy although there are nice places at good money, I wouldn't know where to start and what is a good investment area for long term growth in property values.
Raiffeisen said similar and I presume other Russian banks will too?
This leads me to wonder if maybe a RUB account in the baltics would be a good move, I remember reading Estonia and Latvia offer such accounts with the added bonus of being in the EU. I guess at the same time I could combine my Euro accounts into one as well which would keep paperwork down!
Yes, pretty much have to be regisered to get any perk. You'll need to translate your documents with most, if not all banks.
Correct me if I'm wrong, but weren't you planning to come to Russia and spend a good amount of time here?
I am learning that now although getting a pay as you go sim was easy (Alena bought it :king: ). Notarised copies aren't an issue, I believe that is the easiest thing to do!
I was planning on either Russia or Ukraine depending on viability of a business but we decided it wasn't viable in either country and we would need to do it a different way. I did end up meeting a nice girl who I have spent a lot of time with (inbetween her work) which is nice but when I am paying for things and paying 3% plus £1 per transaction on top of FX rate, it is adding up although still cheaper than the UK in general.
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You DO know that you can get credit cards that have no surcharges for foreign use?
The rate you will get on the transactions is usually pretty good compared to the retail exchange rate for cash as well.
How do I know, I have both a debit and credit card that work on that basis.
But yes, you will still pay a fee for ATM withdrawals - the wise man will head off to a casino to get his cash. ;)
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You DO know that you can get credit cards that have no surcharges for foreign use?
The rate you will get on the transactions is usually pretty good compared to the retail exchange rate for cash as well.
How do I know, I have both a debit and credit card that work on that basis.
But yes, you will still pay a fee for ATM withdrawals - the wise man will head off to a casino to get his cash. ;)
Only illegal ones in the big pelmeni... ;D
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I forgot, gambling is pretty much illegal over there now. Scrub that suggestion for Russia. ;)
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You DO know that you can get credit cards that have no surcharges for foreign use?
The rate you will get on the transactions is usually pretty good compared to the retail exchange rate for cash as well.
How do I know, I have both a debit and credit card that work on that basis.
But yes, you will still pay a fee for ATM withdrawals - the wise man will head off to a casino to get his cash. ;)
I know that I can get credit cards that do the job however I don't want to apply for another credit product at this time or rather my credit profile has taken a hit since I put the new car on credit so it may not be the best choice at the moment.
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Seems rather shortsighted reasoning. There's you this rich bloke who is unhappy about wasting money and you'll continue wasting money over something short term and and yet saves money in the long term?
Particularly if you get a debit card which is not a credit instrument anyway.
If a pauper like me can sort this stuff out and have a decent credit rating then you can too. Talk to your bank, I am sure that in your situation you get their personal banking services.
When you talk with your personal banker she will probably tell you that very often applying for a credit card does not even involve a credit check. Keeping your overall usage ratio down by spreading your balances will increase your credit score. Probably you don't even need to carry balances anyway.
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I remember reading Estonia and Latvia offer such accounts with the added bonus of being in the EU. I guess at the same time I could combine my Euro accounts into one as well which would keep paperwork down!
Latvia has a chequered bank history. Swedbank in Estonia is a proper one: https://www.swedbank.ee/about/about/branches/official - people speak both English and Russian if you call.
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Seems rather shortsighted reasoning. There's you this rich bloke who is unhappy about wasting money and you'll continue wasting money over something short term and and yet saves money in the long term?
Particularly if you get a debit card which is not a credit instrument anyway.
If a pauper like me can sort this stuff out and have a decent credit rating then you can too. Talk to your bank, I am sure that in your situation you get their personal banking services.
When you talk with your personal banker she will probably tell you that very often applying for a credit card does not even involve a credit check. Keeping your overall usage ratio down by spreading your balances will increase your credit score. Probably you don't even need to carry balances anyway.
I thought that there was one of them types of top up cards that was also free to use in Russia, but damned if I can find it now......
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I remember reading Estonia and Latvia offer such accounts with the added bonus of being in the EU. I guess at the same time I could combine my Euro accounts into one as well which would keep paperwork down!
Latvia has a chequered bank history. Swedbank in Estonia is a proper one: https://www.swedbank.ee/about/about/branches/official - people speak both English and Russian if you call.
Two Latvian banks I spoke to seemed to have a good handle on things from opening to ruble, euro and gbp accounts (ABLV & BIB), is there a particular reason I should avoid?
Seems rather shortsighted reasoning. There's you this rich bloke who is unhappy about wasting money and you'll continue wasting money over something short term and and yet saves money in the long term?
Particularly if you get a debit card which is not a credit instrument anyway.
If a pauper like me can sort this stuff out and have a decent credit rating then you can too. Talk to your bank, I am sure that in your situation you get their personal banking services.
When you talk with your personal banker she will probably tell you that very often applying for a credit card does not even involve a credit check. Keeping your overall usage ratio down by spreading your balances will increase your credit score. Probably you don't even need to carry balances anyway.
Credit card applications usually involve a search, firat a soft search and secondly a hard search. This only changes if you bank with the bank and I don't bank with Halifax or Post Office. I am also more at risk of currency flucuations using credit cards whereas an account and one transfer, it is locked in.
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Snoras I think it was called. Lost credibility about the same time as Iceland with Landsbanki Guernsey.
Maybe it's better now there, but Swedbank held firm through the bad times.