A current account (in relation to legal entities and individual entrepreneurs) is an account associated with a bank client, designed to record financial transactions. Another name is “demand accounts”, since the transactions carried out on them are most often carried out at the first request of clients-legal entities and individual entrepreneurs. For doing business, $ or euro accounts are more often used.
Foreign currency accounts require control by the bank and are used in conjunction with transit accounts.
Content:
Bank account structure
Opening a current account for an individual entrepreneur or LLC is not necessary, but restrictions are imposed on cash payments for legal entities. It is forbidden to make payments under an agreement between legal entities or individual entrepreneurs in cash for more than some money or store surplus cash in excess of the limit set by the organization itself (Regulation on the procedure for conducting cash transactions).
Why do you need an organization account:
Settlement and cash services for legal entities and individual entrepreneurs is a set of services for storing, processing and registering the movement of funds of clients-organizations, provided by the bank. This activity is closely related to current accounts: transactions are linked to them.
Services included in the RSC
Tariffs for cash settlement services are made up of the cost of services provided under an agreement between a bank and a legal entity or individual entrepreneur. Consider the services included in the cost of service.
Basic services
Additional services
Acquiring
Acquiring is the acceptance of non-cash payments using bank cards (VISA, MasterCard, MIR, optionally JCB, UnionPay, AmEx, etc.). It can be merchant, mobile or internet acquiring. Acquiring requires the signing of a separate agreement due to the peculiarities of connecting equipment to receive payments at cash registers or special gateways for online payment.
In the case of merchant acquiring, a commission is charged for each successful operation (transaction). The size of the commission depends on the monthly turnover of the terminal, the connection package, the type of POS terminal used, as well as the equipment belonging to the client or the bank (rent, leasing, etc.).
For example, when carrying out operations on terminals that have been rented, fixed commissions will be charged, depending on the turnover per month. If the required turnover is not achieved, then a fixed amount will be additionally debited from your account.
In Internet acquiring, the size of the commission depends on the turnover and the type of activity, since no physical terminals are required to accept payments: the bank provides a program interface (API) for conducting card transactions. Cards of any banks can participate in the payment, not only the one with which an acquiring agreement has been concluded, as well as electronic money systems (Webmoney, QIWI, Yandex Money).
Issue of a Cash card linked to an account
Many banks offer linking to an account with a special anonymized (unnamed) corporate card. Multiple cards can be issued and linked if desired.
As a rule, the first card is included in the price of the RCO package, and the subsequent ones are issued for a separate fee. Service is paid separately, usually once a year. The card is issued for several years (depending on its type). Reissuance is paid if the card has deteriorated before the due date or has been lost / damaged due to the fault of the carrier.
Interest on card transactions is charged separately.
In your personal account, it is convenient to track the movement of funds on corporate cards, and the absence of a holder's name allows it to be transferred to other employees without reissue.
Service of salary cards (salary project)
Banks benefit from large corporate clients who use all the possibilities of cash settlement services. If you bring new customers (employees who receive wages on bank cards), then you may be offered bonuses in service.
Employees also receive favorable terms of service (preferential loans, linking overdrafts to card accounts, a personal manager leading your organization, etc.).
Payroll can be started remotely (without visiting a bank branch). To start the procedure, you need to send the salary register and the total amount from which the write-offs will be made.
As a rule, within the framework of salary projects, interest on crediting operations is more profitable than with intra-bank transfers.
Integration with Internet accounting
Many controlling organizations (FTS, Pension Fund) are switching to electronic reporting: to submit declarations and other documents, there is no need to visit the tax office in person or submit documentation through proxies.
Therefore, Internet accounting departments are actively developing, offering accounting services as an online service. Documents are filled in through the browser interface, the submission of reports via the Internet using an EDS is supported.
Integration of C/A with the Internet accounting service assumes the ability to connect to the bank's database via API. All transactions of the movement on your account are automatically received: you can fully automate the filling of reporting documentation.
Reporting will be submitted in a couple of clicks in the browser.
In addition, it will be easier to unload and pay receipts for tax fees, fines, as well as work with other financial documents involved in accounting.
Accrual of interest on the balance (deposit)
It is beneficial for banks that clients keep their money. This is how the bank multiplier works - the more cash is kept, the larger amounts the bank can dispose of in its own interests. Therefore, for the long-term storage of funds (enterprise assets) in the current account, the bank is ready to pay interest. Sometimes interest is charged automatically on the balance over a certain amount, but most require funds to be credited to a deposit.
The terms of the deposit (interest, storage periods for the minimum balance, the minimum amount of the balance, etc.) can be specified on the website, and are also determined individually.
Cash collection and self-collection
Not all banks provide a collection service (acceptance of surplus cash for storage or delivery of cash to the cash desk of an enterprise, as well as other valuables): trained specialists, vehicles, equipment, special traffic patterns in the city, etc. are required.
A separate agreement is concluded between the company and the collection service. A fee is charged for the service, which depends on the volume of the transported cash, the pick-up or delivery schedule, the location of the enterprise on the city map.
Self-collection - cash replenishment of the current account through ATMs (terminals) of the bank or its partners, a percentage of the replenishment amount is charged.
Service packages
Many of the listed services are not provided separately. Banks include them in the package of services: the size of the subscription fee, fees for transfers, replenishment, cash withdrawals, information and other individual services depend on the choice of the package.
This approach complicates the choice of an account for an individual entrepreneur or a legal entity. To determine the best cash settlement solution: it will calculate the individual cost of maintaining an account for the best banks.
Foreign currency accounts require control by the bank and are used in conjunction with transit accounts.
Content:
- Structure
- Why do you need a checking account
- Services included in the RSC
- Acquiring
- Cash card issuance
- Salary project
- Integration with Internet accounting
- Interest on the balance
- Cash collection and self-collection
Bank account structure
Opening a current account for an individual entrepreneur or LLC is not necessary, but restrictions are imposed on cash payments for legal entities. It is forbidden to make payments under an agreement between legal entities or individual entrepreneurs in cash for more than some money or store surplus cash in excess of the limit set by the organization itself (Regulation on the procedure for conducting cash transactions).
Why do you need an organization account:
- accept payments from clients: individuals and legal entities;
- to carry out non-cash payment of interest on loans and payment of taxes;
- connect POS terminals for card payments (acquiring);
- pay wages by transferring to bank cards or accounts of individuals;
- transfer money after collection;
- use to accumulate and even receive dividends from storage (bank deposit).
Settlement and cash services for legal entities and individual entrepreneurs is a set of services for storing, processing and registering the movement of funds of clients-organizations, provided by the bank. This activity is closely related to current accounts: transactions are linked to them.
Services included in the RSC
Tariffs for cash settlement services are made up of the cost of services provided under an agreement between a bank and a legal entity or individual entrepreneur. Consider the services included in the cost of service.
Basic services
- opening C/A;
- maintaining a settlement account (discounts may be provided for payment for several months, special conditions are often applied in the absence of turnovers);
- settlement operations: intrabank and interbank transfers;
- reception and crediting of funds;
- cash withdrawal;
- closing C/A.
Additional services
- extended business day;
- Internet banking or RBS (remote banking);
- mobile banking;
- SMS / Email-informing;
- provision of extracts and supporting documents.
Acquiring
Acquiring is the acceptance of non-cash payments using bank cards (VISA, MasterCard, MIR, optionally JCB, UnionPay, AmEx, etc.). It can be merchant, mobile or internet acquiring. Acquiring requires the signing of a separate agreement due to the peculiarities of connecting equipment to receive payments at cash registers or special gateways for online payment.
In the case of merchant acquiring, a commission is charged for each successful operation (transaction). The size of the commission depends on the monthly turnover of the terminal, the connection package, the type of POS terminal used, as well as the equipment belonging to the client or the bank (rent, leasing, etc.).
For example, when carrying out operations on terminals that have been rented, fixed commissions will be charged, depending on the turnover per month. If the required turnover is not achieved, then a fixed amount will be additionally debited from your account.
In Internet acquiring, the size of the commission depends on the turnover and the type of activity, since no physical terminals are required to accept payments: the bank provides a program interface (API) for conducting card transactions. Cards of any banks can participate in the payment, not only the one with which an acquiring agreement has been concluded, as well as electronic money systems (Webmoney, QIWI, Yandex Money).
Issue of a Cash card linked to an account
Many banks offer linking to an account with a special anonymized (unnamed) corporate card. Multiple cards can be issued and linked if desired.
As a rule, the first card is included in the price of the RCO package, and the subsequent ones are issued for a separate fee. Service is paid separately, usually once a year. The card is issued for several years (depending on its type). Reissuance is paid if the card has deteriorated before the due date or has been lost / damaged due to the fault of the carrier.
Interest on card transactions is charged separately.
In your personal account, it is convenient to track the movement of funds on corporate cards, and the absence of a holder's name allows it to be transferred to other employees without reissue.
Service of salary cards (salary project)
Banks benefit from large corporate clients who use all the possibilities of cash settlement services. If you bring new customers (employees who receive wages on bank cards), then you may be offered bonuses in service.
Employees also receive favorable terms of service (preferential loans, linking overdrafts to card accounts, a personal manager leading your organization, etc.).
Payroll can be started remotely (without visiting a bank branch). To start the procedure, you need to send the salary register and the total amount from which the write-offs will be made.
As a rule, within the framework of salary projects, interest on crediting operations is more profitable than with intra-bank transfers.
Integration with Internet accounting
Many controlling organizations (FTS, Pension Fund) are switching to electronic reporting: to submit declarations and other documents, there is no need to visit the tax office in person or submit documentation through proxies.
Therefore, Internet accounting departments are actively developing, offering accounting services as an online service. Documents are filled in through the browser interface, the submission of reports via the Internet using an EDS is supported.
Integration of C/A with the Internet accounting service assumes the ability to connect to the bank's database via API. All transactions of the movement on your account are automatically received: you can fully automate the filling of reporting documentation.
Reporting will be submitted in a couple of clicks in the browser.
In addition, it will be easier to unload and pay receipts for tax fees, fines, as well as work with other financial documents involved in accounting.
Accrual of interest on the balance (deposit)
It is beneficial for banks that clients keep their money. This is how the bank multiplier works - the more cash is kept, the larger amounts the bank can dispose of in its own interests. Therefore, for the long-term storage of funds (enterprise assets) in the current account, the bank is ready to pay interest. Sometimes interest is charged automatically on the balance over a certain amount, but most require funds to be credited to a deposit.
The terms of the deposit (interest, storage periods for the minimum balance, the minimum amount of the balance, etc.) can be specified on the website, and are also determined individually.
Cash collection and self-collection
Not all banks provide a collection service (acceptance of surplus cash for storage or delivery of cash to the cash desk of an enterprise, as well as other valuables): trained specialists, vehicles, equipment, special traffic patterns in the city, etc. are required.
A separate agreement is concluded between the company and the collection service. A fee is charged for the service, which depends on the volume of the transported cash, the pick-up or delivery schedule, the location of the enterprise on the city map.
Self-collection - cash replenishment of the current account through ATMs (terminals) of the bank or its partners, a percentage of the replenishment amount is charged.
Service packages
Many of the listed services are not provided separately. Banks include them in the package of services: the size of the subscription fee, fees for transfers, replenishment, cash withdrawals, information and other individual services depend on the choice of the package.
This approach complicates the choice of an account for an individual entrepreneur or a legal entity. To determine the best cash settlement solution: it will calculate the individual cost of maintaining an account for the best banks.
