Aug 26, 2020
North Macedonia

Personal Bank Account in Northern Macedonia

In the time when a majority of banks replied with “no” to account opening for non-resident clients, there was still some of them that liked to work with foreigners. These banks can be different and not all of them are good for everyone. Until recently, we had a huge demand for personal bank account openings in Georgia as this was a very well-known non-CRS country. But the situation is slowing down in Georgia. First, banks stopped accepting corporate clients and are now very demanding in regards to personal account opening. It is still possible to open an account for a private individual but it takes time and some limitations may arise up to the bank’s taste (example: using the Mastercard only for in store purchases).

If you would like to open a personal bank account in northern Macedonia, we have the right bank for you. This bank was founded in the 1990s and is located in Skopje as a universal bank. The bank is authorized and supervised by the National Bank of the Republic of Macedonia. This bank is a legacy of Yugoslavian developed banking system, with all modern services that we have today. Macedonia has still not even joined CRS. Private individuals will be able to get a card and a great online banking services. 

Benefits of opening a personal bank account in Northern Macedonia

  • No requirements for minimum deposits 
  • No minimum balance on the account is required
  • Friendly to several currencies such as: MKD, EURO, USD, CHF, AUD
  • Client support in English, Serbian and Macedonian 
  • Available cards for private individuals such as: VISA Electron Green, American Express Point, American Express Green, American Express Gold 
  • Easy and fast SWIFT payments
  • Since Northern Macedonia is basically the only jurisdiction left in Europe that has not joined CRS, this bank can provide more privacy to its clients
  • Very low banking services, account maintenance fee for private individuals can be as low as 

3 EUR per month 

  • The bank offers a wide range of services: loans, deposits, bank vaults and safety deposit boxes, bank guarantees, overdraft, securities trading, etc. 
  • Incoming payments are free of charge
  • Outgoing payments fee 0.5% minimum 250 EUR +correspondents bank commission 

Who would be a good fit?

If we take into consideration that we are offering opening a personal bank account, with low fees and easy maintenance, any individual can be a good fit. If you are looking for security and bank services such as the ones that are mentioned in this article, feel free to contact us and we will gladly answer all your questions and solve all your doubts in weather this bank is the right fit for you.

How can you open a personal bank account in Northern Macedonia?

This bank offers the possibility of opening a personal bank account completely remotely. When opening a bank account, this bank requires a copy of its client’s passport or ID and a filled-up application form. Then there is another list of documents that they may ask for. The bank is obligated to perform KYC procedure and comply with AML requirements, like any other bank. The KYC procedure is used to obtain the information of the client’s identity, residential address, current occupation and source of income. 

Offshore Pro Group has been in the financial consultancy business for years and we will gladly help you find the best financial solutions if you decide to seek our advice. Please write to us to [email protected] or use WhatsApp or our live chat to get in touch with us. Whatever communication means you choose, we will be able to suggest the solution that will fit your personal outlooks and your individual investment preferences best!