Gradually, the use of bank accounts is becoming a daily routine for citizens. Indeed, keeping cash can be unsafe, and inflation is slowly eating away at home savings. Financial institutions are able to fully take over the management of clients' funds and their effective storage. For this, banks provide a variety of bank accounts.
Let's consider in detail what types of accounts are, and for what operations each type of account is intended.
Current or work accounts
The simplest are current or work accounts. They do not accumulate funds, since their main purpose is to carry out various calculations. Such an account may receive a pension, salary, money transfers or other receipts from third parties. Current bank accounts can be funded by depositing cash either by the account holder himself or by third parties.
In order to open a current account, Russian citizens must conclude an appropriate agreement with the bank. The only requirement for an individual in this case is the presence of a Russian passport.
Foreign citizens, in addition to an identity card, must present to the bank employee a migration card and a document that confirms the right to stay in Russia. The minimum amount that is deposited in the vast majority of banks when opening a current account does not exceed 10 rubles.
Card accounts
Bank accounts, called card accounts, can be called even more convenient to use. At the same time, there are debit and credit cards. In fact, a debit plastic card is the same current type of account, but not geographically tied to the branch of the bank in which it was opened.
A significant difference between a current bank account and a card account is the presence of an annual service fee for the latter. Money to bank cards can come from any source: transfer of salaries, money transfers, pensions. Most businesses transfer wages to specially opened "payroll" cards, which are the same debit accounts.
Using a bank card makes the procedure for calculating utility bills, paying for purchases and services, and making money transfers extremely comfortable and hassle-free. Almost any process requiring cash payments can be performed using a plastic card. It is especially convenient to use the card outside the country when going on vacation or on a business trip abroad.
Another type of card account is credit cards. This banking product differs from a debit card in that, in addition to its own funds, its owner can use funds borrowed from the bank within the limit established depending on the period of use of the card and the owner's solvency.
The advantage of such a card is that without additional registration of a loan agreement, you can actually get a loan from a bank. At the same time, financial institutions often go to create a favorable regime for the use of a credit card for customers, in the form of a zero rate on borrowed funds for a certain period.
When applying for a credit card, you should thoroughly find out all the details of using it. In particular, what interest will the bank charge on the overdraft, what commission will have to be paid for withdrawing money from ATMs of “foreign” banks, penalties that the bank can apply in case of delay in repayment of borrowed funds, how much will it cost for the annual service and card reissue.
You can apply for a bank card directly when contacting the bank. There, an application form for issuing a card is filled in, a bank employee is presented with a passport (identity card). Execution of a card account agreement will not take much time, it can be obtained immediately, upon completion and signing by both parties.
A plastic card is issued within 5 to 14 days, depending on the bank. As a rule, when concluding an agreement, credit institutions charge a commission for issuing and servicing a bank card.
Deposit accounts
The third type of bank accounts can be called deposit accounts. Deposits or deposits imply the investment of free funds for a more or less long term. The line of such accounts is diverse, and each of them has its own nuances.
There is only one thing in common for all types of deposit accounts: money is invested in the bank at a certain percentage, and for a certain period. Before its expiration, any expense transactions, including cash withdrawals, are not allowed.
The agreement concluded with the bank when opening a deposit will necessarily contain a clause that will provide for penalties for early termination. A common practice in the work of financial institutions is to reduce the interest on the deposit to the minimum figures.
Deposit accounts can be either in rubles or in foreign currency. Registration of an account is simplified as much as possible, the depositor is only required to have a passport and the money itself, which he intends to place in a deposit account. The biggest efforts that a depositor must make relates to the choice of the bank and the terms of the deposit.
Since the deposit must be profitable, it is worth carefully familiarizing yourself with the entire range of deposits, realistically assessing the proposed interest rates and terms of the deposit in order to calculate its effectiveness in advance. In any case, if the depositor has a significant amount of money, then it makes sense to conclude several agreements with different conditions.
When applying for a loan to the bank, the borrower opens a loan account for the amount of the loan. Such an account does not require additional registration, it exists within the framework of a valid loan agreement. When the debt is repaid in full, the loan account is automatically closed.
A bank account is a document, the registration of which by a credit institution for a certain person is an integral part of the subject of a bank account agreement concluded between them, and which is intended to reflect the monetary obligations of a credit institution to this person.
A bank account is a specific section of the bank's accounting system, which records the movement of funds related to a particular person, all transactions of the depositor and the bank (cash deposits and withdrawals from the account).
A bank account is a tool that allows you to record cash flows in accounting and reporting. According to the Law “On Banks and Banking Activities”, clients have the right to open the required number of settlement and other accounts in an unlimited number of banks (credit institutions) with the consent of the latter.
The opening by credit institutions of bank accounts of individual entrepreneurs and legal entities, with the exception of state authorities, local authorities, is carried out on the basis of certificates of state registration of individuals as individual entrepreneurs, certificates of state registration of legal entities, as well as certificates of registration with tax authority.
The concept of a bank account is characterized by a combination of four qualifying features:
- a bank account is a cash account;
- opened and maintained in credit institutions;
- is an integral part of the subject of the bank account agreement;
- designed to reflect the obligations of the credit institution to the client.
All bank accounts are bookkeeping accounts (personal accounts). Their opening is due to the conclusion of a bank account agreement, which entails the emergence of additional functions for them, as well as restrictions protecting the rights of this client.
In today's world, it is almost impossible to do without a bank account. Salaries and various payments are transferred to bank accounts. You can pay for various services and purchases from the account. Money can be increased by putting it at a certain percentage, and about 50% of residents of large cities use plastic cards.
TYPES OF BANK ACCOUNTS
The current legislation allows customers of credit institutions to open a large number of different accounts that best meet the goals of their activities. The classification of types of bank accounts can be carried out on several grounds. Accounts are subdivided:
- for universal and special;
- depending on the currency of the account;
- depending on the owner of the account;
- depending on the intended purpose of the funds;
- depending on the possibility of replenishment or partial withdrawal of funds. On this basis, bank accounts are divided into:
1. Non-refillable. During the entire term of the deposit, additional contributions are not accepted.
2. With the possibility of replenishment. During the term of the deposit, you can deposit additional amounts to a bank account.
3. With the possibility of partial withdrawal of funds. You can withdraw part of the invested money from the bank account, while a certain amount must remain on the account, which is called the minimum balance.
- depending on the accrual of interest on bank accounts. On this basis, bank accounts are divided into:
1. Monthly accrual of interest.
2. Accrual of interest at the end of the term.
3. Interim accrual of interest. For example, every 3 months (quarterly), every six months, and even weekly. It all depends on the specific deposit of a particular bank.
There are the following types of bank accounts: budget, currency, deposit, trust, frozen, insured, card, current account, correspondent, accumulative, depersonalized metal, general, oncol, settlement, savings, consolidated, loan, current, transit, fiduciary, stock, private and check.
CHARACTERISTIC OF TYPES OF BANK ACCOUNTS
When contacting a credit organization regarding opening an account, you have the right to choose the type of account based on your needs. Under the bank account agreement, the bank undertakes to accept and credit the funds received on the account opened for the client, to fulfill the client's orders to transfer and issue the corresponding amounts and conduct other operations on the account. Consider the most popular types of bank accounts.
A current account is opened in a bank institution for legal entities engaged in entrepreneurial activity, as well as for entrepreneurs without forming a legal entity for payment transactions for settlements for the goods supplied, services rendered, work performed.
The current bank account is the main account of the company and is usually opened at the place of registration. The current legislation provides that an enterprise may have several current accounts, one of which is the main account for settlements with the pension fund.
For enterprises, organizations and institutions that have separate divisions (stores, warehouses, branches) outside their location, at the request of the owner of the main current account, settlement subaccounts can be opened for crediting proceeds and making settlements at the location of these divisions.
A bank checking account is used to:
- crediting of proceeds from entrepreneurial activity and making payments related to this activity to suppliers and counterparties under civil law transactions;
- crediting the amounts of received loans;
- settlements with banks on loans received and interest on them;
- settlements with employees on wages and other payments;
- payments based on decisions of courts and other bodies that have the right to make decisions on the collection of funds from the accounts of legal entities in an indisputable manner;
- other settlement transactions.
The balance of the current account shows the free funds available to its owner. The bank issues an account statement to the client as the transactions are completed.
Current bank accounts are opened for organizations that are not legal entities: public organizations, institutions, branches, representative offices, departments, etc. Current accounts are used to make:
- the issuance of funds for wages;
- expenses for the maintenance of the management apparatus;
- expenses and payments related to the performance of the functions of a representative office for foreign insurance.
A checking bank account is a very useful financial tool. It allows its owner to:
- to shift the responsibilities of making standing payments to bank employees;
- send the required amounts to third parties, for example, to pay for goods or services;
- to get away from the need to come to the bank branch, having received a plastic card to the account for cashing out funds and paying for purchases;
- convert funds without withdrawing them from the account. That is, the rubles on the account can be exchanged for dollars or euros at any time, if necessary.
Any citizen can open a bank current account if necessary. It is also opened for individuals to carry out settlement transactions not related to entrepreneurial activity or private practice.
A deposit (deposit) account is designed to store temporarily free funds. It opens to individuals and legal entities. Under a bank deposit (deposit) agreement, a credit institution that has accepted a sum of money received from or for a depositor undertakes to return the amount of the deposit and pay interest on it on the terms and in the manner provided for in this agreement.
The level of interest depends on the duration of the term - the longer the term, the higher the percentage. However, until the period for which you invested your funds has expired, you will not be able to withdraw a penny from the account and you will not be able to make a single settlement operation. In case of urgent need, you can withdraw your money from the deposit account, but at the same time you will have to pay a fine, which is different in each bank. The amount of the fine must be indicated in the contract.
Only those banks are entitled to open a deposit account that have received a license to raise funds for a deposit in Russian rubles or foreign currency in accordance with the requirements of the current legislation of the Russian Federation.
Budgetary bank accounts are opened for organizations (enterprises) financed from the federal budget (off-budget funds). Depending on the nature of the transactions being recorded, they are subdivided into income, expenditure, current accounts of local budgets and current accounts of extra-budgetary funds.
Funds from budget accounts are subject to strictly targeted use. As a rule, they are spent on: remuneration of employees; transfers to the population; payment for goods, works and services under the concluded state or municipal contracts or in accordance with the approved estimates without the conclusion of such.
Budget accounts are opened for a specific period (financial year). When the account is closed, the balances at the end of the financial year are transferred to the appropriate budget.
A foreign currency bank account is used to carry out settlement transactions in foreign currency. “Foreign currency” is monetary funds that are recognized as legal tender in the relevant foreign country.
Interbank accounts are opened exclusively for credit institutions. These include:
- correspondent account - a bank account of a credit institution (parent organization), opened in a subdivision of the settlement network of the Central Bank, in other organizations;
- correspondent subaccount - a bank account opened by a credit institution for its branch in a subdivision of the Central Bank's settlement network;
- accounts of inter-branch settlements - accounts opened on the balance sheets of the parent organization and branches for accounting of mutual settlements;
- the correspondent account "LORO" is opened by the correspondent bank to the respondent bank, through which the correspondent bank carries out operations for the transfer and crediting of funds. The specified account is at the same time a NOSTRO correspondent account with the respondent bank.
A loan bank account is opened when a loan is issued to a client. On it, banks take into account the provision and repayment of loans. Loan accounts are divided into simple and special. Lending on a simple account, as a rule, is lending on the balance; special lending - turnover lending.
A personal account is opened by the bank in the name of the client. Such an account is managed by the client through any bank branch after presenting an identity document. If money is transferred from such an account to an account with another bank, the receiving bank sees the name of the owner and the account number.
A numbered account is used if the client requires the highest degree of confidentiality and enhanced banking secrecy. To open a numbered account, a set of numbers is used that replaces the name of the account holder and, if necessary, identifies the identity of the account holder. Account operations, as a rule, can be carried out only through a representative in the bank, which does not allow using the account in other branches of this bank.
A card account is opened by a bank to record transactions performed by a client using a bank card. The cards themselves are divided into two types: debit and credit. With the help of a debit card, a client can withdraw money from an ATM or pay for purchases without exceeding the amount on his account. Credit cards, in turn, allow you to exceed the amount, however, within the clearly limited loan amount, which is negotiated upon receipt of the card and depends on your ability to pay.
Bank account numbering rules
In our country, a 20-digit bank account is used. The bank account number is not a number in the mathematical sense. This is a numeric code that contains information about its properties.
The bank account number is divided into 5 groups.
The 1st group consists of 5 categories and they show which kind of variety a given account should be attributed to.
The 2nd group consists of 3 symbols and indicates the currency in which the account is opened in accordance with the all-Russian classifier of currencies.
The 3rd group consists of one symbol and contains the so-called. the account key, which is calculated on the basis of a special algorithm, taking into account all other account digits, as well as the BIK of the bank in which the account is opened.
The 4th group consists of 4 categories and indicates the banking division in which the account is opened.
The 5th group consists of the remaining 7 digits and contains the personal account number.
Bank selection
The main criteria for choosing a bank include the following:
1. Political and economic stability of the country where the bank is located.
2. Reliability and prestige of the bank, high position in the rating of international rating agencies (Standard & Poor’s, Moody’s, Fitch and others).
3. A set of banking services provided to customers.
4. The degree of government control over banking operations.
5. Compliance of the bank's profile with the specifics of the proposed transactions on the account.
6. The cost of servicing a bank account.
7. Minimum deposit.
8. Possibility of obtaining credit cards.
9. Convenience of servicing remote clients.
10. Interest on current and deposit accounts.
11. The territorial location of the bank and its branches.
12. Availability of investment programs.
CONCLUSION OF A BANK ACCOUNT AGREEMENT
In today's world, it is impossible to imagine a company that does not have a bank account. The bank is not entitled to refuse the client to open a bank account, except in cases where the refusal is caused by the bank's inability to accept the client for banking services or is allowed by law or other legal acts.
The basis for opening and maintaining an account is a bank agreement. Under the bank account agreement, the bank undertakes to accept and credit funds received into the account, fulfill the client's orders to transfer and issue the corresponding amounts from the account and carry out other operations on the account.
List of documents required for opening and maintaining an account:
Application of the established form (a sample is provided by the bank).
Constituent documents confirming the legal status of the company: articles of association, articles of association, minutes of the decision on establishment (copies certified by a notary, a higher organization or a registration body).
Certificate of state registration (copy certified by a notary).
Two cards with sample signatures and a seal, one of which is notarized.
Certificate of registration with the tax authority (copy).
Certificate of registration with the Social Insurance Fund (copy).
Certificate from statistics authorities on the assignment of OKPO codes and classification signs (copy).
Documents confirming the election, appointment to the position of persons authorized to manage the account indicated in the bank card: election protocols, orders to take office, orders to appoint, etc. (copies).
Within ten days after the bank has opened an account for the company, it is necessary to report this to the Tax Office at the place of registration.
After signing the bank account agreement, the client - the account holder can carry out any types of operations provided for by this agreement and current legislation.
This article will focus on the types of bank accounts, their features and the main differences.
A bank account is necessary for almost every modern person, because it allows you to receive payments, save funds and dispose of them in a non-cash form.
The owner of the account can be an individual or a legal entity. There are several types of bank accounts depending on the purpose of use.
In this article, we will consider what a current, checking and deposit account is, how they differ.
Types of bank accounts
Current
A card account allows you to:
- cash out through an ATM own (pension, salary card) or credit funds, bypassing queues at banks, at the post office;
- , cash-in banknote receiver;
- manage money and control expenses remotely (for example, via Sberbank online).
The owner of the current account can:
- to entrust the execution of regular payments to bank employees;
- convert money into dollars / euros without withdrawing it.
Each account is assigned individual number.
Banks have become the place where people are sent wages, remuneration, funds for operations after financial transactions, and business for companies is built on this. An individual may have an account to make it easier to pay for purchases online. And in order for access to funds to be constant, plastic cards are required for this. It is worth paying attention to which account your payment tool is linked to and.
What is the Sberbank credit card account
The issued card is linked to the account. If the credit card is new, then a separate account is created for it, which consists of 20 digits, while this number has nothing in common. If it needs to be reissued, the account number will remain the same.
The credit card is linked to the loan account, which is opened upon registration at the bank. From it, the client can take funds from the card, as well as replenish it in the same way to pay off debts. You can also make an attachment to a card account, which will be considered a credit one.
What are the bank accounts (for individuals and legal entities)
The types of bank accounts are different, depending on the purpose. Workers or current ones are understandable to people. They are intended not for accumulating funds, but for performing financial transactions, namely, receiving salaries, pensions, transfers, receipts from third parties.
Let's consider all types of bank accounts together.
Current account
Serves for calculating salaries, paying for services, etc., that is, for work purposes. The peculiarity of this account is that the client can receive his savings at any time. Since interest is not charged on balances, the account will be good for people who constantly make transactions on it.
The opening takes place as follows. The client applies to the bank to conclude an agreement on the basis of a passport of a citizen of the Russian Federation. If a citizen of another country wants to open an account, then it is necessary to provide a migration card and a document confirming the legality of stay in Russia.
Deposit account
It means investing funds for a pre-agreed period. Each bank offers an extensive line of accounts that have pros and cons.
Card account
- depends on the selected type of card. Convenient in that it does not oblige to be tied to the territory and place of service. The card account provides a cost per use - a monthly payment of the amount that is indicated when concluding a contract for opening.
Deposit and current: what's the difference?
A current account differs from a deposit one in that the second one implies investing funds for a specified period, during which no payment, withdrawal, and so on operations can be made with the money. The current account allows the use of funds, making access instant, while interest will be charged.
The main differences are:
- counting mode
- interest rate
- cost of operations
You cannot withdraw money from the deposit account, since the agreement implies that the funds go into the hands of the bank with the right to dispose of them. As soon as the contract expires, the money will be returned with the appropriate percentage.
The deposit account has important features:
- interest rate, which allows depositors to earn money for providing banks with funds for full disposal
- term, during which the organization can dispose of funds
- ... Since the money is at a certain risk, because the bank may close and lose depositors' money, clients receive an amount of 1.4 million rubles if this happened
- you can replenish your account only in some situations, which are discussed in advance
- withdrawal is prohibited
You can close a deposit only after writing two applications. The first is to close the account, the second is to close the deposit.
What is the account of the Sberbank salary card
I have a checking account, which consists of 20 digits. It is replenished both in cash and non-cash, you can also make payments:
- If the client uses a debit card, then it becomes possible to spend funds within the balance. If the client uses a credit, then you can spend the funds that are indicated in the corresponding agreement, such a system is called ()
- Sberbank salary card users can use the services of this financial institution, for example, "Autopayment", "Sberbank Online". In addition to the salary, pension, benefits and so on are transferred to the payment instrument.
- If the client wants to make the card to his loved ones, then he can make several
2.1. Banks open in the currency of the Russian Federation and foreign currencies: current accounts; settlement accounts; budget accounts; correspondent accounts; correspondent sub-accounts; trust accounts; special bank accounts; public deposit accounts of notaries, bailiff services, courts, other bodies or persons who, in accordance with the legislation of the Russian Federation, can accept funds as a deposit (hereinafter referred to as other bodies or persons); deposit accounts.
(see text in previous edition)
2.2. Current accounts are opened for individuals to carry out transactions not related to entrepreneurial activity or private practice.
2.3. Settlement accounts are opened for legal entities that are not credit institutions, as well as individual entrepreneurs or individuals engaged in private practice in accordance with the procedure established by the legislation of the Russian Federation to carry out transactions related to entrepreneurial activity or private practice. Current accounts are opened for representative offices of credit institutions, as well as for non-profit organizations to carry out transactions related to the achievement of the goals for which non-profit organizations were created.
2.4. Budget accounts are opened in cases established by the legislation of the Russian Federation for legal entities that carry out operations with funds from the budgets of the budgetary system of the Russian Federation.
2.5. Correspondent accounts are opened for credit institutions and other organizations in accordance with the legislation of the Russian Federation or an international agreement. Correspondent accounts in foreign currencies are opened for the Bank of Russia.
2.6. Correspondent subaccounts are opened for branches of credit institutions.
2.7. Fiduciary accounts are opened by the trustee to carry out operations related to the fiduciary activities.
2.8. Special bank accounts, including special bank accounts of bank paying agent, bank payment subagent, paying agent, vendor, merchant bank account, clearing bank account, payment system guarantee fund account, nominal account, escrow account, collateral account, debtor's special bank account are opened to legal entities, individuals, individual entrepreneurs, individuals engaged in private practice in accordance with the procedure established by the legislation of the Russian Federation, in the cases and in the manner established by the legislation of the Russian Federation for carrying out the operations of the corresponding type provided for by it.