Every day, enterprises and individual entrepreneurs in the course of commercial activities carry out non-cash payments with suppliers and customers. Such operations can only be carried out from a current account opened with a commercial bank.
How does a current account differ from other types of accounts?
In accordance with the instructions of the Bank of Russia, commercial banks have the right to open various types of accounts for their clients: current and budget accounts, settlement accounts, trust accounts, etc.
A current account can be opened for a legal entity, for an individual entrepreneur, as well as for an individual. This type of account is intended solely for carrying out settlement transactions related to entrepreneurial activity.
According to the law, individual entrepreneurs and individuals are not required to open a current account. However, it is very difficult to work without an account. The Bank of Russia has set limits on the amount of cash settlements; all settlements over 100 thousand rubles must be made through bank accounts without fail.
The company may have several accounts opened with different credit institutions. After opening a current account, you must send a notification to the tax office at the place of registration, to the Pension Fund office and to the Social Insurance Fund.
How to choose a bank to open a current account?
Choosing a bank is an important issue that should be approached thoroughly. There is a lot of competition in the banking services market. In order to choose the best from a variety of lending institutions, it is recommended to focus on a number of criteria.
1. The reliability of the bank. Focus on the date the bank was created. If a financial and credit institution has been operating in the banking services market for over 10 years and has an extensive branch network, this indicates its reliability and stability.
2. The cost of settlement and cash services (CSC) in the bank. The procedure for carrying out settlement and cash activities is regulated by laws, but the cost of these services in each bank will be different. You need to find out what the monthly service cost is and what basic services are included in the service contract. Information about the tariffs for cash settlement services can be found in the reference service or on the official website of the bank. It is necessary to find out, first of all, how much it will cost to open an account (one-time costs) and how much it will cost to maintain a current account (monthly payments). You should also find out about the cost of additional services. For example, many banks offer internet banking services. Having estimated the one-time and monthly costs, it is easy to calculate how much will be spent on cash settlement services in a year.
3. The popularity of the bank among business partners and clients. The easiest way is if the company and its main partners use the services of the same bank, since the commission for conducting intrabank settlements will either be absent or minimal.
