Most business information here is passed on by word of mouth, and banking advice is no exception.


The first step is to talk to companies from your home country to find out some of the grim nuts and bolts of banking here.


Most business accounts don't make money in the West. Be prepared to lose-money and always question just how safe money is in a Russian bank, since there is no system of deposit insurance.


In making the transition from the West to Russia's wild world of banking, it is crucial to take a long, hard look at the bank where you will keep your money and the banker who will handle your business.


First, there are some banks in Russia that function, in principle, like Western banks. Among them are Mosbusinessbank, Credobank, DialogBank, International Moscow Bank and Tokobank. Find out which banks enjoy good reputations within your industry.


Unfortunately, DialogBank, a U. S. joint venture, is backlogged with requests for new accounts and for now is taking on little if any new business. International Moscow Bank, a European joint venture, only has the capability to handle large accounts for now, so smaller companies and representative offices need not apply.


Don't expect to receive financial statements from most banks, as the


attitude that it's none of anyone's business whether a bank is solvent or not is still prevalent. Most Russian banks have less than $1 million in total capitalization, and there are many more banks here than true Western bankers.


Your commercial bank in Russia should have a correspondent relationship with a major Western bank in order to facilitate the flow of hard currency to and from abroad. Typically wire transfers show up here three to four days after they are sent, sometimes longer based on the bank. Time is not money here.


Correspondent accounts can also be a yardstick of stability, since the Western correspondent bank has no doubt spent time checking out its Russian partner.


Base your decision not just on the reputation of the bank, but on the reputation of the banker. Relationships here are the keys to getting your money on time. Once you've found a banker you feel comfortable with, massage the relationship.


Stay on a first name basis, never lose your temper and keep a steady supply of liquor, candy, medicine and cosmetics on hand. Such perks will make or break a payroll deadline.


Do not expect miracles or prompt service from your banker. Simply accept the realities of the fledgling banking industry here, and pray for the best.