About Our Company IST Hungary

At IST Hungary, we have accumulated vast experience, built an extensive knowledge base, and concluded hundreds of partnership agreements with banks and payment institutions worldwide. We have successfully opened thousands of accounts for individuals and legal entities.

Our activities are not limited to account opening. Over many years of work, we have helped thousands of companies and entrepreneurs solve complex financial tasks: unblocking frozen accounts, disputing erroneous payments, forming investment portfolios, as well as recovering funds from bankrupt financial organizations.

Our team consists of highly qualified specialists with significant international banking experience. Among them are former employees and department heads of major banks, which allows us to deeply understand the internal processes and requirements of financial institutions.

List of Accounts We Help Open

• For legal entities (companies, organizations)
• For individuals (private clients)
• For organizations that are not legal entities (e.g., partnerships, trusts)
• Settlement (transactional) accounts
• Merchant accounts (for accepting card payments online and offline)

Our Service Geography
We facilitate account opening in payment institutions in the following countries and jurisdictions: Hungary, United Kingdom, Germany, Hong Kong, Ireland, Latvia, Lithuania, Malta, Netherlands, Singapore, Slovakia, Slovenia, UAE, USA, Finland, Czech Republic, Switzerland, Croatia, Estonia.

A Payment Institution (in the EU legal framework — an Electronic Money Institution, EMI) is a licensed financial organization that has received permission from a central bank or other regulatory body to carry out activities related to the issuance of electronic money, execution of payment transactions, issuance of payment cards, and provision of other related financial services.

Such institutions are also often called "EMI," "online bank," "neobank," "fintech company."

Regulatory requirements for payment institutions in the EU are comparable to those for banks, and they are under constant supervision, guaranteeing a high level of protection. The key difference: a payment institution is not allowed to use clients' funds for its own investment purposes and is obliged to keep them in segregated (separate) accounts in partner banks.

This means that in the unlikely event of creditors making financial claims against the payment institution itself, your funds will be fully protected, as creditors cannot claim rights to them.

In most payment institutions, you receive a personal IBAN, which allows counterparties to make payments directly to your details. You also gain access to multi-currency operations, SEPA and SWIFT payments, and the issuance of corporate or personal debit cards.

Target Audience for Accounts in Payment Institutions
Currently, accounts in EMIs are opened by companies of all scales — from small and medium-sized businesses to large corporations; both residents and non-residents; representatives of the IT sector, trade, and manufacturing enterprises.
We definitely recommend considering payment institutions for those who are just starting their business, as well as for companies seeking to optimize their operational costs associated with international transfers and account maintenance.

Possible Purposes for Using a Payment Institution Account

1. Conducting intra-European payments (SEPA).
2. Executing international transfers (SWIFT/other systems).
3. Paying employee salaries.
4. Managing expenses through corporate cards.
5. Currency conversion at competitive rates.
6. Accepting online payments on the company's website (via a merchant account).
7. Optimizing payments within a group of companies.
8. And many other financial operations.

For individuals (beneficiaries, directors):

• Scanned copy of an international passport.
• Document confirming the place of residence (e.g., a utility bill).

For legal entities:

• Scanned copies of certified corporate documents (Charter, Articles of Association).
• Scanned copy of a certified extract from the commercial register.
• Company organizational structure chart (up to the ultimate beneficial owners).
• Share certificate (or other document confirming ownership).
• Examples of contracts with counterparties and invoices to understand the business model.

Please note that this is an average list. Requirements may vary depending on the specific institution and the nature of your business. Most documents must be dated no earlier than 3 months before the application date. If documents are not in English, a notarized translation will be required.

The minimum account opening time is from 3 to 5 business days; in some cases, accelerated procedures are possible. The average successful account opening time usually takes 7-10 business days.

It is important to note that successful account opening does not always mean final completion of all checks. In many jurisdictions, institutions continue to closely monitor transactional activity for the first few months to ensure it corresponds with the declared activity.