Current account for travel agencies

To open a current account, an individual entrepreneur only needs to present a passport.

If the account is opened for a limited liability company (LLC), the following will be required:

• the passport of the CEO or another authorized person;
• the company's incorporation documents.

The bank will prepare the remaining documents independently. You will only need to review everything and sign the documents.

Legislation does not establish restrictions on the number of current accounts that a legal entity or individual entrepreneur may open. They are entitled to open several current accounts.

This approach may be convenient for using the advantages of different tariffs. Also, within one bank, several accounts can be opened if the company is engaged in different types of activities or conducts settlements through branches.

There are several ways to credit funds to a current account:

• send a transfer from the bank account of an individual entrepreneur or legal entity; 
• deposit cash through the cashier at any bank branch; 
• top up the account via an ATM or terminal (using the “Self-collection” option); 
• use partner bank ATMs (VTB, Alfa-Bank and Raiffeisenbank).

The time for funds to be credited to a current account is only a few minutes. When transferred via the Faster Payments System (SBP), funds are received almost instantly. At the same time, a standard transfer may in rare cases take up to five days.

The processing speed of the transaction is affected by several factors: the time the transfer is sent, the type of instruction, and the payment system used. In addition, the transfer speed depends on whether it is made within the same bank or between different banks.

The bank has the right to initiate the closure of a current account in the following cases:

• the account has not been used for six months;
• there are no funds in the account or a negative balance has been recorded (if an overdraft is connected), and no funds have been credited to it for six months; 
• liquidation of the legal entity that is considered the account holder.

The bank may also block the account if it suspects that the account is being used for money laundering. In such situations, the bank first blocks transactions and requests documents confirming the lawful origin of the funds. If the client does not provide the required documents, the account is closed.

Important: except in the case of liquidation, the bank notifies the client in advance about the account closure. If there is money left in it, it can be transferred to another bank or received in cash.