The procedure for opening a current account: documents, instructions

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

The procedure for opening a current account in a bank is determined both by normative acts of general validity and by the organization of the process in a financial institution. The list of documents and the algorithm of actions are different.

Value of current account

Before you learn about the procedure for opening a current account, you need to find out who needs it. Its purpose is to accept and store funds of an individual entrepreneur or a legal entity. Does everyone have to have it? After all, its opening and maintenance costs money.

Settlement account must have all legal entities. Entrepreneurs need it, as they work with organizations that cannot do without an account. Its opening ensures the receipt of funds and settlements with partners, tax authorities and social state funds. Thus, if for organizations it is mandatory, then for entrepreneurs it depends on what kind of activity they are engaged in.

What services are required for an account opener

Concluding a bank account agreement involves not only obligations, but also rights:

• for settlement and cash services;
• for reporting in the electronic document management system;
• for currency control services, if an organization or a citizen is engaged in foreign economic activity;
• to manage the money in the account.

The last paragraph has differences regarding individual entrepreneurs and legal entities. If the former manages his own money, then the founder of the company, even the owner, formally does not have direct access. Funds must be transferred to a personal account, after which the owner has the right to use them at his discretion.

How to choose a bank

Opening an account is a service provided by all banks. Is there a difference between quality and service level? The basic difference lies in the price and the package of documents that are asked to be provided. The cost is seriously different, even if you compare the price list in state banks. The package of documents is standard with minor differences.

To decide which institution to conclude a bank account agreement with, you should read the reviews, study the conditions posted on the websites of financial organizations. Today, there is no need to apply directly to the bank in order to find out what package of documents is needed and what is the cost of services. Today, all banks, without exception, are developing Internet technologies, developing applications that provide access to services around the clock throughout the year. And many choose a financial institution based on the degree of its development. Other factors come secondplace.

Question of price

Banks take money for services at the same time in a fixed amount, and depending on the volume of services used.

• opening an account - money is paid once;
• monthly maintenance - fixed amount;
• replenishment of the account and withdrawal of funds by bank transfer - the commission is calculated depending on the amount of funds received and withdrawn;
• receiving and issuing cash - depending on the amount of funds;
• formation of payment documentation – fixed rate;
• formation of an account statement.

Banks are trying to move the activity of servicing accounts into the virtual plane as much as possible, so a client who prefers electronic payments and reporting pays less than his counterpart who uses paper documents and cash.

Preferences are written directly on websites and in contracts. True, the procedure for opening a current account is the same, you still cannot do without going to the bank. On the Internet, entrepreneurs refer to the fact that large banks do not always provide quality services compared to their less visible competitors. The specifics of the work of the departments also have an effect.

Documents for opening a bank account in IP bank

The package of securities is determined by two factors:

• open an account for an individual entrepreneur or a legal entity;
• stringency of bank requirements.

Sample list for IP:

• application filled out on a special form;
• passport copy;
• copy of TIN;
• copy of registration certificate;
• extract from the register of entrepreneurs;
• card with sample signatures and stamps;
• documents confirming the ownership or lease of the residential premises in which the future account holder lives.

The last requirement is practiced only by some banks.

List of documents for a legal entity

Let's consider a package of documents for legal entities:

• application to the bank;
• charter or memorandum of association of an organization;
• certificate of registration;
• extract from the register of legal entities (now it is proposed to provide in electronic form);
• copies of passports of the head (director) and chief accountant, copies of protocols or orders for their appointment to positions;
• card with sample signatures and seal imprint.

In both cases, employees of a financial institution may ask for additional documents in accordance with the internal regulation of the bank on opening accounts and fill out a number of forms.

Copies of some of the listed documents are accepted in a number of banks if they are certified by a notary. In particular, copies of constituent documents, protocols and orders for appointment to a position, etc. The specifics are determined by the policy of the credit institution. The authenticity of signatures of officials of organizations is verified and certified by one ofbank employees. If changes occur in the management of the organization for which the account is opened, the sample cards also change.

How the work with documents is built

The opening of a current account for legal entities and entrepreneurs is carried out in a separate division of the bank. Most often, their service is carried out in the next hall. The application is filled in at the bank, in the same place, in the presence of the client or his representative, the submitted documents are checked and the forms are filled out in accordance with the requirements of the financial institution. At least the bank is visited twice: the first, when the details and requirements for documents are specified, and the second, when the documents are actually drawn up. Payment for opening an account and other services is made at the cash desk of the same branch.

Do banks refuse to open an account

Indeed, there is such a practice, and the main reasons are the wrong paperwork. Sometimes banks are reinsured. For example, discrepancies between the real and formal address were revealed. Account opening is denied to organizations whose accounts are blocked. Legislation provides for other reasons.

If there are no major impediments, the applicant is advised that he or she is eligible to re-apply with the problems resolved. In general, the procedure for opening a current account is built according to one scheme and is quite understandable.

Should I notify the tax office about opening an account?

Since 2014, entrepreneurs do not have to inform the tax authorities about opening an account. Now thisare handled directly by the banks. Nevertheless, having opened an account, the company or individual entrepreneur has the right to send a notification with details to the service.