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A couple of years ago, Maryana began to sew funny soft toys and unusual children's clothes and upload photos on social networks. Over time, she was increasingly asked the question: “What a cute thing! Can you order the same one?" The girl decided not to limit herself to sales on Instagram and open an online store. Now she faces many challenges. We will tell you which of them can be solved with the help of a bank.
What should be considered when choosing a bank for a business?
Several key parameters can be distinguished.
What services do banks offer entrepreneurs?
Let's consider the most common offers of banks.
Business account service
Usually banks do not charge money for opening an account. Some of them also offer free account maintenance, but often only for the first few months, and then the price rises. Typically, it depends on the size of the business. For example, for entrepreneurs with a small turnover on the account - up to $ 2000-5000 a month - the tariff does not exceed a thousand rubles, and for large companies it can reach several thousand $ a month.
But there is always a commission for transfers and payments. Banks often offer package tariffs: the package includes both account maintenance and a certain number of transactions, and for each operation over the limit they charge a separate amount.
If Maryana's business goes uphill and she wants to open offices of her online store in several cities, then she will be able to create a separate account for each branch.
Several accounts for different divisions of the company or different products often simplify accounting, and sometimes allow you to save money due to the optimal choice of tariffs.
Business card
This card is linked to a business account. With its help, you can deposit and withdraw money from ATMs - this option is called "self-collection".
While the business is small, Maryana buys fabrics and accessories from ordinary stores, and not from factories. And most often it pays by card. Buyers, on the other hand, often prefer cash - and it is more convenient for Maryana to put it into an account through ATMs. So the business card will be very useful to her.
As a rule, service of the card is included in the package tariff. But even when it is charged separately, it is often free if certain conditions are met: for example, when the amount on the account does not fall below the set limit, or, conversely, the turnover on the account exceeds a certain threshold.
When paying for goods and services by card, banks do not take a percentage of the transaction amount and do not limit the amount of payments. But for "cash" set limits and commissions - from 0.1%. But there are banks that allow you to withdraw money for free - both in their own and in other people's ATMs. Therefore, check in advance which ATMs you can use on favorable terms and whether they are conveniently located.
For depositing cash to the card, they also usually take from 0.1%, but at the same time they are often allowed to replenish the account from the card of any bank with a minimum (or zero) commission.
Do not forget to connect SMS or push notifications for card transactions in order to immediately find out about those transactions that you did not make.
Online accounting
This is a service that can automatically generate invoices and accounting documents, calculate and transfer taxes, pay salaries to employees and make mandatory tax, pension and social contributions for them.
Many banks offer online bookkeeping to their business clients for free as an attachment to their package rates.
While Maryana works for herself, she does not need such a service. But if the business grows up and she hires apprentices to help, then it will be more convenient to pay taxes and salaries to employees using the bank's online accounting service.
Some banks offer the services of a personal accountant who helps to keep records, draw up documents and advise online or by phone on financial issues. This service is almost always paid, but sometimes it is more profitable than hiring your own specialist.
Acquiring and online checkout
Acquiring allows you to accept payments from bank cards. Acquiring fees are usually 1–2% of the amount of checks for a certain period, most often a month. Each bank determines the rate itself - it depends on the size of the business turnover, the field of activity and other factors (even the reputation of the company can be taken into account). Therefore, it is better to clarify the conditions in different banks in advance and choose the best option.
Often, in a package with acquiring, you can rent cash equipment, including an online cashier, which automatically transmits data to the Federal Tax Service (FTS). This is convenient because you do not have to submit your own tax data for each sale. In addition, this makes the business transparent for the Federal Tax Service, which means that it reduces the risk of account blocking due to tax evasion.
Take a test on the tax office's website to find out if your business is required to have cash registers. It depends on the field of activity, taxation system and other criteria.
Maryana first decided to register as self-employed, and they do not have to start a cashier. But if she hires assistants, she will have to re-register, for example, as an individual entrepreneur - and then she will need to purchase cash register equipment.
Connecting QR payments
The largest banks offer entrepreneurs to connect QR payments. This is one of the non-cash payment methods that can be used both in retail outlets and online stores.
QR payments are more beneficial than card payments. They will cost you a maximum of 0.7% of the purchase amount if the bank passes them through the Fast Payment System.
Read more about how to connect this technology in the text "How to sell a product or service using a QR code".
Loans for business
For investments or replenishment of working capital, you may need additional funding. The bank where your company is serviced is usually ready to lend money on favorable terms, because it is already familiar with your business.
In this case, it will take a minimum of documents and time to approve a loan application - the bank already sees your account activity, can determine the turnover of the business, and it is easier for it to assess risks, make a decision and set an interest rate.
But it is better to find out in advance, even at the stage of choosing a bank, what are the conditions for loans. Be sure to find out if the bank participates in government programs of concessional lending to small and medium-sized businesses - on loans with government support, rates are below market.
It is also worth clarifying how quickly the bank reviews loan applications and whether it is possible to issue them online.
Letters of credit
Letters of credit allow transactions to be settled safely - the bank guarantees that the seller will receive the money if the buyer's conditions are met. For example, it will deliver the goods. This form of settlement protects both counterparties.
This service is useful when concluding contracts for a large amount, especially for businessmen who work for export.
So far, letters of credit can only be drawn up on paper, in a special standard form. But in the near future, digital letters of credit based on blockchain technology should also appear. Then transactions with them will be able to go online.
Read more about this service in the text "Bank letter of credit: what it is and how to use it for large purchases". If you plan to use this form of payment, be sure to check the rates and conditions for issuing letters of credit at the selected bank.
Factoring
With the help of factoring, you can sell goods on deferred payment terms or in installments. In this case, the bank immediately pays for the goods to the supplier, and the buyer undertakes to return the money to the bank at the expense of future proceeds.
For example, if some children's organization wants to buy out the entire batch of toys from Maryana in installments, factoring can be used.
Factoring helps to quickly receive revenue and do without loans to replenish working capital. It is worth finding out if the bank offers such a service and on what conditions.
What additional bonuses can I expect?
Some banks charge interest on the account balance, and also offer cashback - they return part of payments on a corporate card.
Sometimes banks offer free training for your employees as a bonus to the tariff. For example, on the topic of investment or accounting.
Many banks form a pool of partners who give discounts to their entrepreneur clients. These can be special offers from mobile operators, marketing and advertising agencies, IT companies.
Banks often organize promotions on the eve of holidays. For example, they offer free service to new business customers for several months or special tariff plans. Follow the announcements on the banks' websites to get service on the most favorable terms.
I chose a bank. How to become his business client?
If you already have accounts, deposits or loans with this bank, you can usually open an account for a business through your personal account on the website or a mobile application.
New clients will have to come to the branch. Many banks offer to call a bank representative to their office or home. As a rule, for this it is enough to fill out a form and leave a request on the website.
It is possible to open a business account in most large banks in one day. But it is better to clarify in advance how long it will take and what documents will be required. Some banks make it easier for potential customers and, with their consent, can themselves request information about the entrepreneur, for example, in the Federal Tax Service, including in the Unified Register of Small and Medium-Sized Businesses.
When you open an account, the bank will most likely offer you to create a separate online account for business or install an additional application for entrepreneurs. With their help, you can choose tariff plans, connect additional services and consult with bank specialists on business issues.
What if the bank does not fulfill the terms of the agreement?
In cases where the bank changes service tariffs without warning, refuses to carry out operations or somehow infringes upon your rights, write a complaint about it to the Bank.
What should be considered when choosing a bank for a business?
Several key parameters can be distinguished.
- Reliability. You need to make sure that the bank is licensed and included in the deposit insurance system. If the bank participating in the collapses, individual entrepreneurs and small businesses will be able to return money from their accounts within 1.4 million rubles.
In cases where the turnover of the business is higher, it is necessary either to distribute cash flows among different financial institutions, or to approach the choice of a bank even more carefully. For example, consider its reliability rating. - A set of services. Today banks are ready to become both an accountant and an IT consultant for an entrepreneur, and even a security service that will check counterparties.
But don't settle for everything at once. It is important to carefully assess what services you really need and under what conditions they are provided. For example, Maryana was interested in the bank, which helps with the registration of individual entrepreneurs without going to the tax office. - Service. It is worth looking at the reviews about the bank's work in advance and independently testing different communication channels. For example, check how quickly they will respond to your question by calling the hotline, chatting on the website and at the bank's office. If you do business in multiple regions with different time zones, you will need 24/7 business support.
What services do banks offer entrepreneurs?
Let's consider the most common offers of banks.
Business account service
Usually banks do not charge money for opening an account. Some of them also offer free account maintenance, but often only for the first few months, and then the price rises. Typically, it depends on the size of the business. For example, for entrepreneurs with a small turnover on the account - up to $ 2000-5000 a month - the tariff does not exceed a thousand rubles, and for large companies it can reach several thousand $ a month.
But there is always a commission for transfers and payments. Banks often offer package tariffs: the package includes both account maintenance and a certain number of transactions, and for each operation over the limit they charge a separate amount.
If Maryana's business goes uphill and she wants to open offices of her online store in several cities, then she will be able to create a separate account for each branch.
Several accounts for different divisions of the company or different products often simplify accounting, and sometimes allow you to save money due to the optimal choice of tariffs.
Business card
This card is linked to a business account. With its help, you can deposit and withdraw money from ATMs - this option is called "self-collection".
While the business is small, Maryana buys fabrics and accessories from ordinary stores, and not from factories. And most often it pays by card. Buyers, on the other hand, often prefer cash - and it is more convenient for Maryana to put it into an account through ATMs. So the business card will be very useful to her.
As a rule, service of the card is included in the package tariff. But even when it is charged separately, it is often free if certain conditions are met: for example, when the amount on the account does not fall below the set limit, or, conversely, the turnover on the account exceeds a certain threshold.
When paying for goods and services by card, banks do not take a percentage of the transaction amount and do not limit the amount of payments. But for "cash" set limits and commissions - from 0.1%. But there are banks that allow you to withdraw money for free - both in their own and in other people's ATMs. Therefore, check in advance which ATMs you can use on favorable terms and whether they are conveniently located.
For depositing cash to the card, they also usually take from 0.1%, but at the same time they are often allowed to replenish the account from the card of any bank with a minimum (or zero) commission.
Do not forget to connect SMS or push notifications for card transactions in order to immediately find out about those transactions that you did not make.
Online accounting
This is a service that can automatically generate invoices and accounting documents, calculate and transfer taxes, pay salaries to employees and make mandatory tax, pension and social contributions for them.
Many banks offer online bookkeeping to their business clients for free as an attachment to their package rates.
While Maryana works for herself, she does not need such a service. But if the business grows up and she hires apprentices to help, then it will be more convenient to pay taxes and salaries to employees using the bank's online accounting service.
Some banks offer the services of a personal accountant who helps to keep records, draw up documents and advise online or by phone on financial issues. This service is almost always paid, but sometimes it is more profitable than hiring your own specialist.
Acquiring and online checkout
Acquiring allows you to accept payments from bank cards. Acquiring fees are usually 1–2% of the amount of checks for a certain period, most often a month. Each bank determines the rate itself - it depends on the size of the business turnover, the field of activity and other factors (even the reputation of the company can be taken into account). Therefore, it is better to clarify the conditions in different banks in advance and choose the best option.
Often, in a package with acquiring, you can rent cash equipment, including an online cashier, which automatically transmits data to the Federal Tax Service (FTS). This is convenient because you do not have to submit your own tax data for each sale. In addition, this makes the business transparent for the Federal Tax Service, which means that it reduces the risk of account blocking due to tax evasion.
Take a test on the tax office's website to find out if your business is required to have cash registers. It depends on the field of activity, taxation system and other criteria.
Maryana first decided to register as self-employed, and they do not have to start a cashier. But if she hires assistants, she will have to re-register, for example, as an individual entrepreneur - and then she will need to purchase cash register equipment.
Connecting QR payments
The largest banks offer entrepreneurs to connect QR payments. This is one of the non-cash payment methods that can be used both in retail outlets and online stores.
QR payments are more beneficial than card payments. They will cost you a maximum of 0.7% of the purchase amount if the bank passes them through the Fast Payment System.
Read more about how to connect this technology in the text "How to sell a product or service using a QR code".
Loans for business
For investments or replenishment of working capital, you may need additional funding. The bank where your company is serviced is usually ready to lend money on favorable terms, because it is already familiar with your business.
In this case, it will take a minimum of documents and time to approve a loan application - the bank already sees your account activity, can determine the turnover of the business, and it is easier for it to assess risks, make a decision and set an interest rate.
But it is better to find out in advance, even at the stage of choosing a bank, what are the conditions for loans. Be sure to find out if the bank participates in government programs of concessional lending to small and medium-sized businesses - on loans with government support, rates are below market.
It is also worth clarifying how quickly the bank reviews loan applications and whether it is possible to issue them online.
Letters of credit
Letters of credit allow transactions to be settled safely - the bank guarantees that the seller will receive the money if the buyer's conditions are met. For example, it will deliver the goods. This form of settlement protects both counterparties.
This service is useful when concluding contracts for a large amount, especially for businessmen who work for export.
So far, letters of credit can only be drawn up on paper, in a special standard form. But in the near future, digital letters of credit based on blockchain technology should also appear. Then transactions with them will be able to go online.
Read more about this service in the text "Bank letter of credit: what it is and how to use it for large purchases". If you plan to use this form of payment, be sure to check the rates and conditions for issuing letters of credit at the selected bank.
Factoring
With the help of factoring, you can sell goods on deferred payment terms or in installments. In this case, the bank immediately pays for the goods to the supplier, and the buyer undertakes to return the money to the bank at the expense of future proceeds.
For example, if some children's organization wants to buy out the entire batch of toys from Maryana in installments, factoring can be used.
Factoring helps to quickly receive revenue and do without loans to replenish working capital. It is worth finding out if the bank offers such a service and on what conditions.
What additional bonuses can I expect?
Some banks charge interest on the account balance, and also offer cashback - they return part of payments on a corporate card.
Sometimes banks offer free training for your employees as a bonus to the tariff. For example, on the topic of investment or accounting.
Many banks form a pool of partners who give discounts to their entrepreneur clients. These can be special offers from mobile operators, marketing and advertising agencies, IT companies.
Banks often organize promotions on the eve of holidays. For example, they offer free service to new business customers for several months or special tariff plans. Follow the announcements on the banks' websites to get service on the most favorable terms.
I chose a bank. How to become his business client?
If you already have accounts, deposits or loans with this bank, you can usually open an account for a business through your personal account on the website or a mobile application.
New clients will have to come to the branch. Many banks offer to call a bank representative to their office or home. As a rule, for this it is enough to fill out a form and leave a request on the website.
It is possible to open a business account in most large banks in one day. But it is better to clarify in advance how long it will take and what documents will be required. Some banks make it easier for potential customers and, with their consent, can themselves request information about the entrepreneur, for example, in the Federal Tax Service, including in the Unified Register of Small and Medium-Sized Businesses.
When you open an account, the bank will most likely offer you to create a separate online account for business or install an additional application for entrepreneurs. With their help, you can choose tariff plans, connect additional services and consult with bank specialists on business issues.
What if the bank does not fulfill the terms of the agreement?
In cases where the bank changes service tariffs without warning, refuses to carry out operations or somehow infringes upon your rights, write a complaint about it to the Bank.