When starting a business or managing money, an organization has to deal with concepts such as registering a current account, registering, and so on. Of course, when contacting the appropriate structures, services or a private financial consultant, you can get qualified information about such issues. However, having decided to open a business so that there are no unforeseen situations with registration, it is necessary to work out all the details before submitting documents. And, of course, for this you need to understand financial terms, such as, for example, what is a checking account.
The concept of "Current account"
This concept implies a bank account opened at the request of legal entities (firms, organizations, companies and so on) for making settlement payments when conducting business or manufacturing any products. It can be noted that the question: “What is a checking account?” - for individuals does not exist.
According to the tax legislation of the Russian Federation, mandatory conduct of monetary transactions by persons legally registered through banking structures is provided, while for individual entrepreneurs this procedure is not unchanged. For the convenience of settlements with individual entrepreneurs, suppliers and clients when making other types of payments can open this type of account. This procedure greatly simplifies the maintenance of tax payments, payroll and the like.
Opening conditions
Having considered the question: “What is a checking account?” - You can begin to further cover the topic. For a legal entity, when applying to the relevant paragraphs, it is necessary to present the following documents:
- a copy of the charter certified by the tax committee;
- constituent documents;
- confirmation from the register maintained by the federal service (USRLE), this extract is ordered by the tax committee when submitting an application in any form and is considered for about 5 days;
- organization licenses;
- director’s passport and application form filled out for a legal entity;
- application with a request to open a current account, a sample of which is provided by the bank.
For IP, the list of documents is slightly different, the list is below:
- certificate of registration of IP;
- statement of registration with the tax service;
- passport and patent for carrying out activities.
It may be noted that in some banks the list of documents may differ from the above information. In addition, a message about opening a current account to the tax service must be sent immediately so that there are no misunderstandings and other unforeseen situations.
Additional Information
When choosing a bank, you can use the following criteria:
- the level of payment for opening an account and connecting additional services (Internet banking and others);
- service charges;
- reliability and reputation of the bank;
- the presence of special programs, such as “Salary project” and so on;
- providing additional opportunities, such as opening a credit line, deposit account, and others.
Also, when considering the question: “What is a checking account?” - It can be noted that there are factors of refusal to conduct the procedure for its opening. It can be in such cases:
- when providing false information or false documents;
- indication of a false address;
- facts of opening several accounts in the name of one head;
- the absence of the person in whose name the account is being opened.
It is very convenient to carry out settlements and other cash transactions using a current account, and at the same time, this procedure is mandatory for organizations and firms.