Opening a current account for an individual entrepreneur - where, the cost, how to withdraw money
After you have registered as a sole proprietor (my step by step instructions) and received the documents in hand, many will need to open a current account.
I have opened a current account already 3 times, so I have experience. The procedure is simple and almost always about the same: you come to the bank with your documents, sign the settlement agreement, you are given the details of your new account or accounts, you are given a card tied to the account, and you go home. Sometimes you don't even need to go to the bank, and a representative comes to your office or apartment.
The content of the article
About settlement accounts of individual entrepreneurs
You no longer need to notify the IFTS and the Pension Fund about opening or closing a current account!
Do I need a checking account for an individual entrepreneur
Do I need an IP account? By law, this is not necessary, but if we are talking about freelancing and making money on advertising on the Internet, then getting money by bank transfer is often the only option. Yes, it is not directly prohibited to use an individual's personal account for individual entrepreneurship purposes, but it is highly discouraged, because it is not intended for business purposes, and no one does that..
In addition to (or instead of) a current account, you can buy a cash register, register it and receive money in cash, but a freelancer does not need it at all. Therefore, I will not tell you anything on this topic..
How an individual entrepreneur can withdraw money from a current account
The first thing to understand is that the account of an individual entrepreneur is not at all the same as the personal account of an individual, and it must be used carefully. You can't just withdraw money from it, just like putting it. All transactions can be regarded as income or expenses. Otherwise, you will later explain to the tax authorities, according to which agreement Uncle Vasya transferred a certain amount to you, or why did you write down the purchase of a sofa as an expense, although you are creating websites. The latter, of course, is only relevant for those whose tax is calculated on the forum «income - expenses». In my case, with a simplified taxation system of 6%, expenses are not at all important and I may not even write them down, so I sometimes allow you to pay for a purchase by bank transfer from an individual entrepreneur's account, if this is cheaper than physics.
I will list 3 ways to withdraw money.
- You can put money through the cashier with a note «deposit of funds», and remove with a note «profit withdrawal». It so happens that the bank needs to be warned about such operations, or there are some other conditions. Check with your bank.
- Recently, many banks serving individual entrepreneurs offer cards for use free of charge, either tied to the current account of the individual entrepreneur, or having their own card account (in this case, in fact, you will have two settlement accounts). And then from this card you can withdraw cash from ATMs or pull out through the cardtocard (c2c) services, when a transfer is made from card to card. As a rule, these cards have restrictions on how much can be withdrawn per month in general, how much can be withdrawn without a commission, and the ATMs themselves can take an additional commission..
- But the easiest way is to transfer by bank transfer from your IP account to your own individual account, opened in the same bank or in another. In the latter case, it will be a regular interbank transfer. As a rule, the cost of such a transfer to other banks is fixed and does not depend on the amount of the payment, about 20-50 rubles per payment. Some banks have restrictions on the maximum amount of transfers to individuals per month, so they force them to switch to more expensive tariffs with larger limits..
It is better to transfer money to your personal account with the following notes: «Transfer of own funds. Without VAT», or «Translation for personal needs. Without VAT», or «Withdrawal of profits. Without VAT». Better not to write something like «Entrepreneur salary», otherwise they may want to withdraw personal income tax from this.
Transfer from an individual entrepreneur's current account to an individual's account in another bank
How to open a current account
Tariffs of various banks and their comparison, I posted in my post - Which bank to choose for individual entrepreneurs, be sure to look when you choose a bank. At the moment, I chose Tinkoff with a tariff for 490 rubles per month.
Current account value for individual entrepreneurs
Standard prices are:
- Opening an account 0-1000 rubles
- Account management 0-2000 rubles / month
- Certification of a card with your signature 0-500 rubles.
- Transfer via the Internet bank to a personal account of an individual in the same bank 0 rubles
- Transfer via the Internet bank to a personal account of an individual in another bank 20-100 rubles per payment
If you do not have a very large business and you do not need something special, then you can find the bank that has a small monthly commission for maintaining an account - the same Tinkoff. But one must understand that such banks will not be in the top ten. And, conversely, if you have a big business and you need a lot of services, then you can go straight to the top bank and take the most expensive tariff there..
If you are engaged in foreign economic activity (foreign economic activity) and open 3 accounts in different currencies (RUB, USD, EUR), then the bank may charge a commission for maintaining each of the accounts. Check it out. And, it would seem, a small commission of 1000 rubles / month will turn into 3000 rubles / month. It also makes sense to find out in advance what the currency control commission is. As a standard, they take a fixed 300-500 rubles for small receipts, and 0.5-1% of the amount, if the payment is several thousand dollars..
Some banks have discounts or separate tariffs for My Business users. If you are going to use this online accounting service, then keep this in mind.
Account opening documents
The list of documents may differ, as each bank goes crazy in its own way. Be sure to find out what documents your bank needs. I'll write some average list.
- Certificate of registration of an individual as an individual entrepreneur (OGRNIP)
- Certificate of registration of an individual with the tax authority (TIN)
- A card with your signature, certified by a notary
- The passport
- Tax return for the previous period or an extract from the previous bank for several months (for old individual entrepreneurs)
- Printing, if you use it in your business
Also, on the spot, you will still fill out a number of documents:
- Application for opening an account or accounts
- Customer profile
- Information about the beneficial owners
The originals of all documents are brought and their copies are made on the spot. But some banks may request to make notarized copies before coming to them. Typically, this requirement applies to a card with your signature. Again, customer-oriented banks will certify this card at the time of signing the documents and you will not need to go to a notary, which is much more convenient. Sometimes they charge an additional fee for certifying the card, sometimes they don't take anything..
In any case, it is better to call the selected bank or find a list of documents for opening an individual entrepreneur account on their website. The last time I opened an account in Modulbank, I brought only the OGRNIP, TIN and passport, and did not pay a ruble. They said the declaration will then be requested from me through the Internet bank, but they have not requested.
Where to open a current account of an individual entrepreneur
It is difficult to give advice here, because it all depends on your region and your needs. A list of all banks, their rating and reviews are available on the banki.ru website. In Moscow, the choice of banks is quite extensive and not everyone has representative offices in other cities. So go to the websites of banks in your city, look there for Settlement and Cash Services (CSC) in the section for legal entities or individual entrepreneurs, and see the tariffs. As I wrote above, you can lay down somewhere between 500-1000 rubles of monthly expenses.
Of those banks in Moscow, whose tariffs I looked at and among which I chose:
- Tinkoff
- Dot
- Alfa Bank
- Sberbank
- Modulbank
Tinkoff, Modulbank and Point have tariffs with free monthly service.
In fact, it all depends on how much you are willing to pay. I do not have many transactions, not very large turnovers, so I can choose large banks with a large number of services and appropriate tariffs. Therefore, based on personal experience, I can safely recommend Tinkoff. Module and Point are good too.
Comparison of bank tariffs for business>
If you plan to use Internet accounting services (why is it needed), then it makes sense to choose only among those banks with which there will be integration. This means that all payments will be automatically uploaded to the service, simplifying the maintenance of KUDIR.
Yes, you can download the statement from the Internet bank and upload it to the service yourself, but I am not a supporter of unnecessary and unnecessary actions, because when you already have an operating business, there are a lot of things to do, you even start to think about an accountant with a salary.
On my own I can recommend My Business, which I have been using for several years. The list of banks with which they have integration is quite extensive and is presented in the screenshot below. As an option - Elba, someone likes her more. But in my experience, they have very slow tech support and a very confusing interface..
Quotes My Business>
Opening a current account for individual entrepreneurs
You decide where it is more profitable, whether you are ready to pay a commission, and what kind. Since the economic situation in the country is unstable, then, of course, there is a risk that non-TOP banks may collapse. However, you still will not lose anything, because there is a DIA and all the money within 1.4 million will be returned to you (you should not just keep more on the account).