Retail and private banks established in Monaco. They hold accounts, grant loans and, depending on the institution, offer wealth management and services to businesses.
The institutions in this category fall under code 6419Y Other monetary intermediation. Some are retail banks, serving individuals, professionals and businesses: accounts, payment methods, property and business loans, savings. Others are private banks, focused on the wealth management of individual and family clients. Several institutions combine both activities.
Opening an account
Opening an account requires supporting documents, in particular proof of identity and address, and information on the activity and the origin of funds. Each bank specifies the documents it requests and the conditions for access to its services. For a business project, it helps to present the planned activity, the expected flows and the financing needs.
What is the difference between a retail bank and a private bank?
A retail bank serves a broad public with accounts, loans and payment methods. A private bank concentrates on the wealth management of individual and family clients. Some institutions in the category offer both.
Which documents are needed to open an account?
Generally, proof of identity, proof of address and information on the activity and the origin of funds. The exact list depends on the bank and the client's situation; it helps to ask for it before the appointment.
Do banks finance businesses?
The retail banks in the category offer business loans and services for companies: accounts, payments, financing. Conditions depend on the project and the company's situation; each bank's listing presents its services.
