Time Bank of Zimbabwe Limited
THE COST OF OPENING AN ACCOUNT:
FROM 800 EUR
GENERAL INFORMATION
Time Bank of Zimbabwe Limited
Zimbabwe
www.time-group.ltd
2004
The bank was founded prior to 2004. That year, it was closed down by the Reserve Bank of Zimbabwe (RBZ), the national banking regulator. The shareholders and management of the bank appealed that decision and the courts reversed it in 2009. The bank then successfully applied for reinstatement of its banking license. Time bank is scheduled to resume full banking activities in March 2011, with two retail branches in Harare, the capital of Zimbabwe and the country’s largest city.
English-, German-speaking staff
High
ACCOUNT
Not required
Detailed
Personal, account
Personal presence in the bank is required. There is possibility to open account remotely, if the client is introduced by licensed European agent.
Business Accounts: – standard set of company documents, such as Cert. Of Incorporation, Register of directors, Cert. Of Incumbency, share certificates, depending on the legal form and domicile – valid identification documents (e.g. passports) from Directors, authorized signatories as well as beneficial owner(s) Personal Accounts: – Valid identification documents (e.g. passport) – Adress proof (e.g. utility bill), original or notarized (by public notary or European intermediary)
RATING
SERVICES AND COSTS
Internet banking
Personal, corporate, savings accounts
Maestro
GENERAL INFORMATION
Name
Country
Official site
Faunded
History
Employees
Security
Time Bank of Zimbabwe Limited
Zimbabwe
www.time-group.ltd
2004
The bank was founded prior to 2004. That year, it was closed down by the Reserve Bank of Zimbabwe (RBZ), the national banking regulator. The shareholders and management of the bank appealed that decision and the courts reversed it in 2009. The bank then successfully applied for reinstatement of its banking license. Time bank is scheduled to resume full banking activities in March 2011, with two retail branches in Harare, the capital of Zimbabwe and the country’s largest city.
English-, Russian-speaking staff
High
ACCOUNT
Recommendations
Terms of opening for admission (days)
Opening terms for cancellation (days)
Description of activity
Account type
Departure to the bank
Required documents
Not required
10
10
Detailed
Personal, account
Personal presence in the bank is required. There is possibility to open account remotely, if the client is introduced by licensed European agent.
Business Accounts: – standard set of company documents, such as Cert. Of Incorporation, Register of directors, Cert. Of Incumbency, share certificates, depending on the legal form and domicile – valid identification documents (e.g. passports) from Directors, authorized signatories as well as beneficial owner(s) Personal Accounts: – Valid identification documents (e.g. passport) – Adress proof (e.g. utility bill), original or notarized (by public notary or European intermediary)
RATING
Rating in the world
Country Rating
93
6
SERVICES AND COSTS
Access to the account
Bank services
Bank cards
Internet banking
Personal, corporate, savings accounts
Maestro