What do you need to know when opening a bank account?
What is a bank account?
Lots of people want to do business and make big money. To do this, you first need to find a product or service that will sell well. After the problem with the products is solved, it is necessary to make your activity legal. This issue is closed by a simple registration of the enterprise through a lawyer, notary and state registrar. Further, it is necessary to issue a key for the electronic signature of the company and open a current account in the bank. If the first task is completed within a few hours, then the second requires attention from several days to several weeks and maybe even months.
A company bank account (IBAN) is an account in the global financial system for non-cash payments between business entities and the accumulation of funds in one place. There are hryvnia and currency, if we are talking about Ukraine. Within the country, you can pay between organizations and individuals only in hryvnia, foreign currency can be transferred only for international transactions. For example, you sold goods abroad, US dollars or Euros came from another country, this is called export. In this case, when currency arrives at the company’s account, it is immediately exchanged for local money. If a businessman wants to buy goods in another country, then he needs to buy those same American dollars or Euros and send them abroad for import. And all this is at the official rate of the National Bank of Ukraine.
Can I open a bank account online?
Yes! It is possible! But as a rule, such a format of cooperation between a bank and a legal entity is possible for an individual entrepreneur. If, however, we are talking about a limited liability company, a joint-stock company or a public organization, then the head will have to independently appear at the bank branch, fill out a questionnaire, cards and sign an agreement. But account management can be carried out online, through the client-bank system.
The fact is that an individual is an entrepreneur, a real person who cannot just stop working. If he ceases to carry out financial and economic activities, for various reasons, he needs to liquidate the legal entity. As for the LLC, it happens that businessmen often leave their enterprise and the company hangs up in a banking organization, as if it were not active. This is not good for the reputation of a public limited company. But some banks have created a service for remote opening of a current account for companies. It offers registration and passing the check by financial monitoring via e-mail. In this situation, documents are sent to the director, he fills them out, attaches his identification papers and sends them back to the corporate client service manager. But even after all the issues have been settled, the head of the company must come to the branch and sign a service agreement. Seal is not required!
An individual entrepreneur does not go anywhere; registration takes place online. Documents are sent to him by email already ready. The manager takes all data about the private entrepreneur from the Unified Register of Enterprises and Organizations of the Ministry of Justice of Ukraine. But as a rule, this can be done if the person is already a client and has a debit or credit card. The bottom line is that the system has an electronic signature of the user in advance.
Is it possible to quickly open a current account for an individual entrepreneur?
We talked about this in the previous paragraph, now it is worth considering this issue a little more broadly. Typically, people want to close such a task within one day. But with the financial system of the civilized world, this is practically impossible. For a private entrepreneur, an account for financial settlements can be issued in about two, three days. But it should be noted that there is no uniform practice of opening a bank account. Each organization sets its own terms. For example, in one place, per person, the operator fills out the documents himself and makes copies of the USR statement, single taxpayer, passport, and so on. In another place, a person is given a sheaf of papers, where he is obliged to enter his data on his own. It happens that it comes to outright idiocy when a newly registered entrepreneur is forced to enter information about past commercial payments, about the premises, warehouses, offices and so on that he rented. Important! If in the bank your business on opening a current account has been delayed for more than three days, it is recommended to go to another organization, because this will not resolve your issue.