Article 861, clause 2 of the Civil Code of the Russian Federation states that settlements between legal entities or citizens related to entrepreneurship must be carried out in a non-cash manner. This means that each business entity - a company, an organization or an individual must have its own current account in the bank through which non-cash payments are made. Any citizen can have a current account.
Why do you need a checking account
A current account is a bank account with a unique number, by which you can easily find and identify a client of any bank and track all his monetary transactions - both the receipt of funds and their withdrawal. Initially, when opening a bank account, you do not need to deposit any amount of money in cash, but subsequently the current state of this account corresponds to the amount of money that belongs to this client.
The current account does not imply the accrual of bank interest, it is not intended either for generating income or for storing monetary amounts. This is an operational account, with the help of which the bank's client makes non-cash payments. Since in the Russian Federation a policy is purposefully pursued to reduce the circulation of cash and to transfer all settlements, including those carried out by citizens in private, to a non-cash form, any person, natural or legal, can open current accounts.
How to open a current account
If you are an individual, you just need to contact any bank, present your passport and write an application for opening a current account. Usually, for the convenience of making non-cash payments, this account is tied to the bank's plastic card - debit or credit. Your application will be considered, and in a couple of weeks you will sign an agreement with the bank on opening a current account and servicing a plastic card.
You, as an entrepreneur, may be refused to open a current account if you have provided incorrect information about the company or inaccurate documents. The bank is not obliged to explain its refusal.
In the event that you are a legal entity or a private entrepreneur, opening a current account does not depend on your desire, since the amount of cash payments in the conditions of entrepreneurial activity is limited by law to 100 thousand rubles. Therefore, although the law does not oblige you to open a current account, you will do it out of objective necessity.
Check with the bank the requirements for the form of certification of the documents provided, they may vary everywhere.
Each credit institution may have its own nuances when opening a current account, they are usually posted on the official website of the bank. But of those documents, the presentation of which is mandatory for everyone, you will need:
- an extract from the Unified State Register of Legal Entities received no later than a month before contacting the bank;
- certificate of state registration;
- certificate from the tax office with TIN;
- statutory documents of the organization, the decision of the general meeting of founders or shareholders on the establishment;
- a letter of registration with the statistics authorities;
- orders on the appointment of the head and chief accountant;
- documents confirming the actual location of the organization.
