Do I need a current account for IP? Banks for IP. IP without a checking account

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

IP can open a bank account to conduct its activities in any bank at its discretion. However, this action is not the responsibility of the entrepreneur. However, if you decide to work as an individual entrepreneur without a current account, there will be a lot of questions about how to pay with partners, receive payments from customers, and others. Sometimes the only way to solve these problems is through R/S.

As needed

In the upcoming 2019, opening an account is carried out in the same way as before. The corresponding agreement with the bank is concluded on a voluntary basis. The current account plays an important role in the financial activities of the entrepreneur. Thanks to him, it is possible to separate the funds received in the course of commercial activity from personal money. It is easier to draw up reports, as well as to exercise control over the fulfillment of obligations under the contract.

An additional guarantee when concluding contracts is provided by the bank details of the IP settlement account. Payments reflected in the bank accountextract, are a confirmation of the solvency of the entrepreneur in case borrowed money is required. The bank is more likely to issue loans to persons whose activities are characterized by financial stability.

If payments exceed 100,000 rubles, then cash will not be limited. Do I need to open a current account for IP in this case? Yes. In addition, wholesalers generally prefer cashless payments when transferring large amounts of money.

In the case of retail, more and more people prefer to pay with a plastic card. In this regard, the need for this bank account becomes even greater.

Can I use my personal account?

Some entrepreneurs use their personal bank account to conduct business, where they store their own savings. To some extent, this is beneficial, namely:

1. The fee for maintaining an individual account is significantly lower than the cost of maintaining a current account for an individual entrepreneur.
2. You can withdraw cash with fewer restrictions than with a current account.

Otherwise, personal and current accounts are almost the same. So, money coming from third parties may well be credited to a personal account.

An individual entrepreneur has the right to pay taxes and settle accounts with his suppliers. Banks also issue plastic cards, with which you can make payments remotely.

Also, entrepreneurs sometimes use a deposit account for settlements. Howeverthis is inconvenient, since the use of funds stored on such an account, as a rule, has different restrictions, as well as an additional commission when transferring to third parties.

Responsibility for using a personal account

The Central Bank obliges the use of deposits and accounts of individuals solely for cumulative purposes that are not related to commercial activities. The Central Bank of the Russian Federation obliged banks to open settlement accounts for doing business. At the same time, for the fact that this rule is neglected, there is no legal liability for the individual entrepreneur. Therefore, even if bank security officers find out that a personal account is used for commercial purposes, fines will not be imposed on individual entrepreneurs.

In an effort to fulfill the obligation of the Central Bank, some financial institutions in the purpose of payment require customers to add a phrase stating that the money transfer is not related to commercial activities. However, such a requirement is illegal.

If the entrepreneur gave himself a negative answer to the question of whether an individual entrepreneur needs a current account, he, for his part, also does not always remain honest with the financial institution in which he opened a personal account. So, using it for commercial purposes, the IP does not indicate the basis of payment, which is true.

What can the use of a personal account for commercial purposes lead to?

This approach for an entrepreneur can berisky for the following reasons:

1. The Bank may delay the transfer of funds if the counterparty indicated in the corresponding line "IP Ivanov I. I." instead of "Ivanov I. I." Such a delay will be explained by the fact that the name of the recipient does not correspond to the status of the owner of the personal account, and therefore the payment cannot be identified.
2. The use of a personal account will raise questions from customers, especially if the entrepreneur himself asks not to indicate “IP” in the name of the recipient.
3. In addition, the receipt of regular payments may be of interest to regulatory authorities. If there are personal receipts among commercial payments, then they can be included in the taxable base of an individual. In this case, the tax service will charge the appropriate fine, and the funds will add additional income to contributions.

This situation can only be de alt with through the judiciary. Moreover, going to court is not a guarantee that it will be possible to return payments transferred erroneously.

If the bank detects a violation when using a personal account, it can terminate the contract with the client and close the account. Many banks warn that commercial payments cannot be made on a personal account.

Bank selection

Having answered the question of whether a current account is needed for an individual entrepreneur, positively, the entrepreneur proceeds to choose a financial institution. At the same time, it is worth asking where it is in terms of reliability rating. This is especially true in cases where the country is unstablethe economic situation, and it is not uncommon for banks to have their licenses revoked.

The second most important factor, according to which a bank for an individual entrepreneur is selected, is the cost of servicing the account. The amount is set by the financial institution, but may increase depending on the payments made by the account holder. Also, a certain amount must be paid for opening an account.

When choosing a financial institution, you must first familiarize yourself with the rates. In addition, it is worth finding out about the timing of the transfer of funds. Reliable banking organizations tend to transfer money within a day. You can also ask about the necessary documents for opening a current account for an individual entrepreneur.

Documents to open

Different banks require their own package of securities. But the main ones include the following:

1. ID.
2. Certificate of registration.
3. TIN.
4. Extract from USRIP.

Also, the bank will need to fill out an application, a client questionnaire, as well as a card with the ability to sign and conclude an agreement. If you have all the necessary documents with you, the procedure does not take much time.

Nuances when opening an account

Documents must be submitted in original. If necessary, the bank will make copies. Keep in mind that some of them have a limited period of validity. For example, an extract is valid for a month. After that, you need to order a new document.

After signing the contract, you need to carefullycheck out all the items and find out the prices. If in any doubt, you can contact a lawyer for advice.

Some banks for individual entrepreneurs are asked to put a seal. However, individual entrepreneurs are not required to use a stamp in their work. Therefore, many of them certify the contract only with a signature.

Rating of banks

As of the beginning of 2019, experts have identified the following best banks for individual entrepreneurs:

1. "Point".
2. Tinkoff.
3. Promsvyazbank.
4. Modulbank.
5. Eastern Bank.
6. Sberbank.
7. Sovcombank.
8. Expert Bank.
9. LocoBank.
10. "Opening".
11. Ural Bank.
12. Bank Zenith.
13. Alfa Bank.
14. Raiffeisen Bank.
15. VestaBank.

Let's look at some of them. "Point" began to be chosen by many businessmen, especially at the start of entrepreneurial activity. It offers free service and advantageous offers from bank partners. In addition, an individual entrepreneur can register through a special online service.

Tinkoff Bank is convenient because you don't need to go anywhere to open a current account, as the manager himself comes to the office with the necessary documents and a card.

Promsvyazbank is an organization with state participation. The Central Bank recognized it as one of the systemically important in the country. It is also one of the 3 largest banks in Russia. Therefore, such an organization definitely does not have a licensewill be recalled. Offers free maintenance and discovery, as well as fixed transfers for some.

Modulbank is a project of former employees of Sberbank. Positions itself as a financial institution for small businesses. Very convenient site, fast technical support and the ability to perform operations through online banking, as well as a mobile application.

The entrepreneur decides whether a current account is needed for an individual entrepreneur. But if he decides in favor of opening, then now he can choose a suitable financial institution from the many profitable options presented above.

Advantages and disadvantages of a checking account

Having de alt with the question of whether a current account is required for an individual entrepreneur, you need to compare the advantages and disadvantages of having it. Economically, r/s has both positive and negative properties. Key benefits include:

1. Checking account provides excellent safety of money.
2. Settlements with counterparties become comfortable and transparent.
3. The tax authorities do not closely monitor money transfers, as this function is under the supervision of the bank itself.
4. IP can manage money remotely through the online banking system.
5. Transfer and return of taxes with the help of a cash register is much more convenient and reliable.

At the same time, one cannot but mention the shortcomings. You will have to pay for settlement and cash services, and in some cases - to visit the bank, for example, to obtain an extract andcollection.

Conclusion

Do I need a current account for IP? Legally, you can do without it. However, there are undoubtedly more advantages from having a r / s. Therefore, in order to conduct business in a normal mode, it is advisable to open this bank account and entrust the financial institution to control cash flows.