ABC Bank Mauritius review?

[awareoatmeal]

Anyone here has experience using their service? Are they solid, will they freeze your fund without any reason, will they ask many questions upon incoming wire transfer etc?

They offer remote account opening and requires not too high initial deposit on their website.

 

[JohnLocke]

Welcome aboard

There are some threads about this bank already, see below:

• Do you have any experience with ABC Banking? I have read the review here..
• Banking in Mauritius?
• Mauritius banks that provide merchant services
• Does someone know mcb.mu it's a bank in Mauritius?
• Offshore bank account to purchase gold?

There may even be more threads, hope it helps a little.

 

[awareoatmeal]

Welcome aboard

There are some threads about this bank already, see below:

• Do you have any experience with ABC Banking? I have read the review here..
• Banking in Mauritius?
• Mauritius banks that provide merchant services
• Does someone know mcb.mu it's a bank in Mauritius?
• Offshore bank account to purchase gold?

There may even be more threads, hope it helps a little.

Hi Admin

Yes, I have read those threads, however most of them are from 2 years back or more. I'd like to know if they are still a good bank since many laws and regulations have changed.

 

[Martin Everson]

That bank had fallen of my radar because PSP's have taken a lot of their business. What brings you to want to bank with them post AEOI? Why that bank?

Fees are not cheap compared to a PSP
https://www.abcbanking.mu/wp-conten...onal-Banking-Tariff-Guide-V6.8-01.02.18-1.pdf

 

[awareoatmeal]

That bank had fallen of my radar because PSP's have taken a lot of their business. What brings you to want to bank with them post AEOI? Why that bank?

Fees are not cheap compared to a PSP
https://www.abcbanking.mu/wp-conten...onal-Banking-Tariff-Guide-V6.8-01.02.18-1.pdf

That's because the corporate service provider I'm using has a close relationship with the bank. I'm not too concerned about AEOI because tax avoidance is not my concern, stability and ease of use are my major concerns

 

[Martin Everson]

That's because the corporate service provider I'm using has a close relationship with the bank. I'm not too concerned about AEOI because tax avoidance is not my concern, stability and ease of use are my major concerns

If your CSP recommends you bank in Africa then follow their advice. In 2018 there are cheaper and more efficient places to bank. No one is banging down the doors to open accounts there unless their doing business on the continent. Mauritius is a gateway for investment from Asia into Africa so that is the only reason you would really bank there.

btw unless your CSP has a close relationship with Compliance Department then ignore what they tell you as its meaningless in banking today. Trust me bankers can tell you anything but decide nothing...compliance department calls the shots.

 

[Spinat]

That bank had fallen of my radar because PSP's have taken a lot of their business. What brings you to want to bank with them post AEOI? Why that bank?

Fees are not cheap compared to a PSP
https://www.abcbanking.mu/wp-conten...onal-Banking-Tariff-Guide-V6.8-01.02.18-1.pdf

people may think that Mauritius is not going to report them!

 

[awareoatmeal]

If your CSP recommends you bank in Africa then follow their advice. In 2018 there are cheaper and more efficient places to bank. No one is banging down the doors to open accounts there unless their doing business on the continent. Mauritius is a gateway for investment from Asia into Africa so that is the only reason you would really bank there.

btw unless your CSP has a close relationship with Compliance Department then ignore what they tell you as its meaningless in banking today. Trust me bankers can tell you anything but decide nothing...compliance department calls the shots.

Singapore is actually one of my top choices for banking, but their initial deposit is too much at 30k USD

So my plan is to use ABC Bank for the time being, and open a corporate bank account when I have the extra money. Does that make sense?

 

[Spinat]

Singapore is actually one of my top choices for banking, but their initial deposit is too much at 30k USD

So my plan is to use ABC Bank for the time being, and open a corporate bank account when I have the extra money. Does that make sense?

to deposit 30K is much if you run a business! Does anyone of you trust the banks in Singapore?

 

[Martin Everson]

Makes sense so go with what your CSP advises.

 

[Joseph Franklin]

Anyone here has experience using their service? Are they solid, will they freeze your fund without any reason, will they ask many questions upon incoming wire transfer etc?

They offer remote account opening and requires not too high initial deposit on their website.

 

[Joseph Franklin]

My funds have been blocked since june 2017 but not officially. Full compliance was done with full co operation , they refuse to take instructions to transfer or provide on line log in details. , only option left is to issue winding up order.DO NOT engage with this bank.

 

[proples]

Anyone has updates on them?

 

[blizz]

I know a few people here on the forum that bank with them. Didn't heard them complain yet!

 

[Mr Magoo]

So far so good with ABC for me. Opening done via an introducer. They ask for businessplan etc. Support answers requests within a few days.

 

[burden]

I want to know latest good and bad abotu abc bank in Mauritius. Some of the agency services I have spoke with that have setup a Belize company told me that I would be able to bank with them.

Do you know if they accept Belize or Seychelles companies owned by foreigners?

 

[Mark Rucken]

I want to know latest good and bad abotu abc bank in Mauritius. Some of the agency services I have spoke with that have setup a Belize company told me that I would be able to bank with them.

Do you know if they accept Belize or Seychelles companies owned by foreigners?

Officially they do, but I heard that the % of successfully opened accounts for offshore companies is very low. Make sure to ask about refund policy in case you are rejected.

 

[blizz]

I'm one of the few, maybe, that have opened an account with them. I find them to be reliable and happy to bank there. Also bigger amounts, for me, works fine.

 

[tyto]

Singapore is actually one of my top choices for banking

Which one could you suggest nowadays?

 

[JohnLocke]

Which one could you suggest nowadays?

It is an old thread you reopen to ask a question off topic! Please open a new thread with your question or I will have to close this thread and remove posts, that's annoying