How long does it take to open a free current account?
Opening an account takes just a few minutes. However, full access to Current Account Services requires entering into an agreement with the bank. The documents must be signed within 14 days from the date of application. A bank representative will promptly contact you to arrange the meeting place and time.
What documents are required to open a current account?
Individual entrepreneurs only need to present a passport. If you represent a limited liability company, you will need the passport of the head of the organization and the company's founding documents.
The bank will prepare all other documents required to open the account. You will only need to review and sign them.
When choosing a tariff, it is important to consider the specifics of your company: the number of transfers to other banks and to individuals, the volume of financial turnover, as well as the frequency of cash withdrawal and cash deposit transactions. If you find it difficult to choose a tariff on your own, seek advice from the bank’s specialists. They will answer your questions at any time.
If necessary, you can always change the tariff. To do this, also contact the bank’s employees or do it yourself through the remote banking service.
How long does it take for money to be credited to an account?
The transfer time depends on many factors:
payment dispatch time;
transfer type;
payment system used;
nature of the transaction (intrabank or interbank).
When using the Faster Payments System (SBP), funds are usually credited within seconds. At the same time, a standard bank transfer is credited within a few hours in most cases, but in rare cases the crediting may take up to 5 days.
When can The bank close a current account on its own initiative?
The bank may close a current account for the following reasons:
the client has not carried out any transactions on the account for 6 months;
if there is debt on the account or if the account balance is zero and no funds have been credited for more than 6 months;
the legal entity has been liquidated.
The account will also be closed if The bank suspects that the account is being used for money laundering. In this case, transactions on the account will be suspended. The bank will request documents confirming the legality of the incoming funds.
In all cases, except for the liquidation of a legal entity, The bank must notify the client of its decision. If there are funds remaining in the account, they must be transferred to another bank or withdrawn in cash.
