Depository services for individuals: tariffs, reviews. Banking services for legal entities

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Depository services are a type of commercial services that are associated with the storage of securities, as well as operations to change their owner. An organization that has a license to carry out depository activities enters into an agreement with a shareholder who transfers his assets to it for storage. Bank deposits, as well as investments of funds, have nothing to do with depositary services, despite the fact that these concepts are consonant.

What do depository services mean?

Security custody

According to the depository agreement, a shareholder who wishes to deposit his securities with a depository organization is assigned an individual account in the same way as is done with ordinary settlement and savings accounts. Only securities are credited to the account in this case, and not cash. And the unit of measurement here is precisely certain assets, and not a specific amount.currencies. Banking services for legal entities are now very diverse.

The shareholder has the right to manage his account, as well as the assets stored on it, as he sees fit. This can be done using a special interface, as well as software provided by the depository organization. These transactions are also very similar to those performed in relation to conventional accounts. What are the service charges?

Payment to the organization providing custody services is carried out in proportion to the number of days during which the depo account was opened. This is about 0.12% per annum, at least 10 rubles a day. No fee is charged for holding assets that have expired. For example, opening a new nominee account will cost approximately 10,000 rubles. For each transaction on behalf of the depositor (the person who made the deposit), a fee is charged from 150 to 800 rubles, depending on its type.

Custodian services

Depositary services for individuals and legal entities include:

• opening and maintaining an account;
• accounting for ownership of various kinds of securities and their storage;
• depository transfers of these assets at the request of the client, as well as transfers of bills;
• registration of pledges of securities under guarantees, as well as loans;
• accounting for securities on trading operations conducted through a broker;
• encumbrance of bills or removal of such encumbrance, which is carried out in order to ensureproperty transactions;
• payment of profits on securities;
• redemption of securities coupons;
• other services that may be related to account management.

Benefits of depositary services

These benefits include:

• possibility of unhindered depositary transfers to any region of the country;
• wide range of securities;
• storage reliability;
• reduce maintenance costs.

Depositary services for individuals assume that customers have the right to register securities as collateral for obtaining bank guarantees or loans.

About securities

To secure the fulfillment of any obligations related to loans and bank guarantees, the following securities are accepted - bills, savings, as well as certificates, shares, assets of constituent entities of the Russian Federation and municipalities, corporate issuers and credit organizations, as well as ordinary shares of OAO NK Lukoil, OAO NK Rosneft, OAO Rostelecom, OAO Gazprom, RAO UES of Russia, OAO Surgutneftegaz, OAO MMC Norilsk Nickel and others.

Banking services provided to legal entities

Banking services for legal entities differ significantly from those that can be provided to individuals. Their difference lies in the very nature of economic relations and the participants in the financial turnover. On the one hand, the spectrumservices for organizations and companies is much wider than for citizens, and on the other hand, the responsibility here is much higher. These services include:

1. Lending. Loans are the most convenient way out for those entrepreneurs who experience significant financial difficulties when buying any movable property, equipment or real estate to carry out their business tasks. The parameters and forms of granting loans to them can also vary significantly, depending on the level of relations between the bank and this organization, on the form of ownership and on the field of activity of a particular entrepreneur.
2. Deposit services. In this area of banking services, there are also differences between deposits for individuals and legal entities. Deposits imply the accrual of interest on the free cash of a legal entity, and additional conditions for such accruals are usually negotiated in advance with each specific client of the bank. Deposit service is very convenient.
3. Service of settlement accounts. This service may not be single, but even complex. When servicing accounts of organizations, a high speed of settlement and cash transactions is implied, as well as their high quality. This area includes a service to optimize cash management operations.
4. Maintenance and issue of plastic cards. Usually this service involves the maintenance of so-called payroll accounts.
5. Investing. The client of the bank in this case can be both an investor and an objectinvestment.
6. Factoring services. They provide for the transfer of funds to an enterprise that is a client of the bank in exchange for the right to demand from the debtor (third party) the transfer of goods, services, and debt recovery. However, the debtor has the right to receive a deferred payment. This service is very convenient for those enterprises for which it is a standard practice.
7. Various operations related to documents. These can be international operations carried out in order to minimize the risks arising from the implementation of foreign economic activity.
8. Collection. This service consists in timely transportation, as well as the safety of cash or other valuables.

Reviews

In addition to these services, the bank provides legal entities with the services of auditing their financial activities, as well as the opportunity to act as a guarantor or intermediary of transactions, and provides the right to participate in auctions. Thus, before choosing a partner, it is necessary to analyze the activities of a banking organization and evaluate how convenient depository services are. Judging by customer reviews, depository services have many advantages. You can receive, check, transfer income on securities, store them, open and maintain accounts, and much more. Customers are guaranteed safety and respect for their rights.