Cheapest corporate bank account

[mnschwarz]

I'm curious to see what the cheapest corporate bank account might be. I was looking at Afrasia & ABC in Mauritius but my introducer is being a pain so started looking around at other options. These two above I initially liked because they have zero minimum balance or fall-below fees, zero ongoing account or maintenance fees. Low (ish) incoming/outgoing transfer fees. Card fees with Afrasia were pretty reasonable also.

Anything else out there that compares for cost?

 

[NickNack]

Standard Bank for Offshore. No minimum balance, no monthly fees, and you generate a dollar a day if you retain over 10k USD in there.

For US, Bank of America. Free, 100 dollar minimum.

 

[mnschwarz]

NickNack said:
Standard Bank for Offshore. No minimum balance, no monthly fees, and you generate a dollar a day if you retain over 10k USD in there.

For US, Bank of America. Free, 100 dollar minimum.
Click to expand...

I just had a look at Standard bank and they list a $6000 minimum balance?

 

[NickNack]

The reason for using introducers is that they make the process easy for you. There is no minimum balance required, we open the account in South Africa not in Mauritius.

 

[Milky Moon]

South Africa will report via AEoI starting this year so not really offshore. (same for Mauritius (2018), Belize (2018), Panama (2018) and Seychelles (2017)).

So there are no real offshore services available there.

 

[mnschwarz]

NickNack said:
The reason for using introducers is that they make the process easy for you. There is no minimum balance required, we open the account in South Africa not in Mauritius.
Click to expand...

I understand introducing is your business but I always opt to do it myself when possible. It's not exactly difficult and one less person being involved in the process is always quicker and easier. I use introducers only when a bank insists on it.

 

[mnschwarz]

Milky Moon said:
South Africa will report via AEoI starting this year so not really offshore. (same for Mauritius (2018), Belize (2018), Panama (2018) and Seychelles (2017)).

So there are no real offshore services available there.
Click to expand...

Agreed but I'm not overly concerned about the AEOI anyway. Just looking for low cost USD accounts.

 

[NickNack]

I understand where you are coming from. If you run out of remote account opening options at first rate banks you are always welcome contact me afterward.