What you need to know to open a bank account

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

According to the norms of domestic legislation, any citizen or organization has the right to open a bank account. It is noteworthy that their number is not limited.

The law clearly states that the relationship between the bank and the client (individual or legal entity) is regulated by the relevant document - the contract for settlement and cash services.

When you choose which bank is better to open an account, here you should focus on the following criteria:

• fee for opening and further maintenance;

• availability of the “Bank-Client” service (it is important to clarify whether such a service is available at all, how much it costs, how quickly it can be accessed);

• location of a banking institution;• availability of loy alty programs for customers (provision of a loan on favorable terms, for example).

It is much easier for an individual to open a bank account. First of all, we come to the selected financial institution, not forgetting to grab a passport of a citizen of the Russian Federation. Next, you should state your intentions to the service manager.

And here you havetwo options. The first is opening a savings account. In other words, a deposit. Yes, it will allow you to receive additional income, however, the main inconvenience is that until a certain point it will be impossible to withdraw your funds. Or rather, you can pick it up, but then you can’t count on additional profit. The second option is to open a bank account that will be used for regular cash withdrawals and deposits. It's usually called "On Demand" or something like that.

In the event that an enterprise intends to open a bank account, it will need to provide a lot of documents. Moreover, their set does not change much from one financial institution to another. Usually you need to provide:

• a copy of the registration certificate (either from the USRIP or from the USRLE);

• a copy of the charter;

• a letter notifying the assignment of statistics codes;• a copy certificate confirming that a legal entity or an individual entrepreneur is registered with the local FTS.

In addition to all of the above, you will need to provide copies of orders that indicate the appointment of a citizen of such and such a director (+ protocol of election), and a citizen of such and such as a chief accountant. Of course, all papers submitted to a financial institution must be notarized.

After signing the relevant agreement, which reflects all the necessary details, you should immediately go to the tax authority to report the start of using a new banking product. The law allots a week for this. Do not invest in it - prepare 5 thousand to pay the fine.

Issue price

Now let's see how much it costs to open a bank account. Pretty serious question, right? Monitoring of the domestic financial services industry shows that individuals may not worry about this: for them, everything is “at the expense of the company”. But the legal will have to look for a suitable option. You can get the service for free at SDM-Bank, Master-Bank and Moskommertsbank. All of their competitors offer a paid service. Moreover, the money will have to be paid not only for the opening, but also for further maintenance.