| Current account and settlement service
The Bank offers the full range of settlement and cash-related services to corporate customers, both resident and non-resident, and individuals actively engaged in business without instituting a legal entity.
The Bank offers the following settlement (payment) and cash-related services:
Opening and integrated service of bank accounts both in national and foreign currencies for resident and non-resident customers.
Disbursement, receipt and posting of cash to accounts.
Settlements in national and foreign currencies (payment order, collection letter, documentary letter of credit, etc).
Transfers to abroad and within Azerbaijan
Cash collection and transportation at the client's timing convenience.
Foreign exchange transactions.
supply of financial advisory services both to the Client and its personnel.
The following bank accounts are available to corporate customers at the Bank:
Current Accounts
Advance Accounts
Deposit Accounts
Correspondent Accounts
Current accounts are opened for bank transactions in association with financial and business activities of state and municipal authorities; legal entities; their branch, representative and other offices, as well as private persons engaged in business activities without setting-up a legal entity.
Current accounts are opened for budget-funded institutions only for bank transactions relating to acquisition and uses of aid and grants provided by foreign government bodies and legal entities for specific purposes.
Current accounts may also include temporary current accounts and special current accounts:
Temporary current accounts are opened for partnerships, companies, cooperatives and other business entities for payment of paid-in capital, equity and shares prior to state registration.
Special current accounts are opened for notary organs in association with the notary activities of public and special notaries.
Advance accounts are opened to account for loans issued to customers, and for bank transactions associated with disbursement and payment of loan proceeds, if provided for by the underlying loan agreement.
Deposit accounts are opened for conducting the customer's bank transactions as per the bank deposit agreement in accordance with the Civil Code of the Azerbaijan Republic.
Correspondent accounts are designated to keep record of the Bank's own and its customers' bank transactions.
The existing currency regulations must be complied with when opening foreign exchange-denominated advance accounts .
List of documents required to open a Bank account:
In accordance with "Law on formation of entrepreneur activities provision measures via "single window" principle" outlining the uniform system for registration of subject of entrepreneurship in accordance with Degree of the President of the Azerbaijan Republic from October 25, 2007, the "single window" principle is applied in registration commencing January 1, 2008 and Ministry of Taxes performs the functions of the only state registration authority.
Until the complete integration of this legislation and process, in accordance with paragraph 35.4 of the Tax Code of the Azerbaijan Republic commercial legal entities, natural persons engaged in entrepreneur activities and affiliates and representations of the foreign commercial legal entities are not required to have the certificate of registration (notary approved copy) of registration of statistical units in the state registry and notification on registration at state social insurance entities.
In opening of bank account these parties shall have the following documents:
1. For commercial legal entities as well as affiliates and representations of foreign commercial legal entities:
1.1. Inquiry;
1.2. Notary approved copy of charter;
1.3. Notary approved copy of the state registration document (at this time such registration is performed by the Ministry of Taxes);
1.4. Original copy of certificate duplicate issued by the relevant tax authority;
1.5. Seal and signature sample card.
2. For natural persons engaged in entrepreneur activities:
2.1. Inquiry;
2.2. Identification document;
2.3. Original copy of certificate duplicate issued by the relevant tax authority;
2.4. Seal and signature sample card.
Conversion
Our Bank offers conversion services, with no limitation whatsoever, at the customer's request stating the purpose the conversion. Transcaucasus Development Bank will convert currencies at the TDB's current exchange rates.
Cash collection/transportation services
Availability of the Bank's own cash collection/transportation service enables the Bank to offer its Customers this service for transportation/collection of cash. The timetable of the service is determined under a relevant contract.
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