What is deposit and current? What is a deposit account and a current account? “Account name” details when returning personal income tax: what to pay attention to

Opening an account with the Savings Bank of Russia is already a familiar procedure performed by thousands of citizens throughout the country. This is not surprising, because this feature provides the user with maximum convenience and comfort, and also creates auxiliary benefits. Every day we come across banking services - we receive funds or send them, open personal cards, take out loans. But unfortunately, modern banking terminology is sometimes complex, which is not always easy to understand. One of the frequently asked questions among users is: how can I find out whether I have a deposit account or a current account? In fact, there are several identifying features that will allow you to recognize and classify it into one category or another.

There are different types of accounts in Sberbank

Types of accounts and distinctive features

All accounts existing in the banking system can be divided into three main types. These are current, card and deposit elements. Let's look at each of them in more detail to identify similarities and distinctive features.

Current account in a banking organization: what is it?

Traditionally, this area is used to solve problems that are directly related to payroll and payment transactions. It is not operated so that the user can save his savings on it and then invest it. The key task is to ensure full customer service and provide access to your own funds.

There are no interest charges on the remaining amount, and even if the bank offers such a service, the income will be small. An account can be opened in ruble and foreign currency. Through this instrument, the owner is given the ability to receive and send.

Checking account

This is not a separate direction, but only part of the current account. Its opening is carried out by organizations and enterprises that do not act as financial and credit structures, and are also not individual entrepreneurs who are engaged in the private practice of conducting settlement activities and business.

Types of bank accounts

Card account and its key features

An account with Sberbank can also be of a card nature. This type of account is used for the purpose of financial manipulation and involves the use of bank plastic cards. If a financial institution offers this product, the client should clarify a certain list of nuances:

• how much will it cost to maintain this account;
• whether commission payments are expected for certain transactions, in particular for receiving cash;
• is it possible to use a card linked to an account abroad;
• Are there any additional services in the establishment’s arsenal?

Plastic card products can be debit and credit. In the first case, savings are kept in the form of income (salaries, returns on debt obligations, other income). Typically, such “plastics” are used to make purchases through non-cash payments, as well as for online purchases. As for the second category of accounts, they act as types of consumer lending and contribute to exceeding the limit of the remaining money on the terms of payment and repayment. If the borrower makes timely loan payments, the limit may increase after a certain time period of using the card.

Credit cards have become widespread in Russian banking practice. This is due to the ease of their use and the comfort of the borrower. But it is worth considering that such actions are followed by retribution in the form of increased interest rates compared to a loan.

A number of financial and credit institutions practice a combination of current and card accounts, which allows the use of this instrument for transactions with cards.

Thanks to such an account, the client has the opportunity to use funds at any time convenient for him. The key advantage is that there is no need to personally visit the bank to carry out operations and transactions, which guarantees saving a lot of time. However, financial experts advise using a current account to receive and send funds due to its versatility and enormous convenience.

The deposit account is aimed at increasing profits

Bank deposit account: how to recognize it

The opening of this direction is carried out with the aim of ensuring an increase in user savings. The bank accrues certain interest on them. In its own way, this type of operation helps to generate passive income and investment opportunities with a low probability of risk factors. Despite the fact that deposits bring users insignificant amounts of income, they have become widespread. Today, banks offer various conditions for them, but mostly clients do not have access to them. At least, this tactic is valid during the period of operation of the treaty of the same name. If it is terminated, additional interest will be charged, which, by the way, is considerable.

What is the difference between a deposit account and a current account?

It turns out that there are several parameters in which these accounts have a different nature:

• features of the counting mode;
• the amount of interest income and deductions;
• cost of operations.

In general, in practice, a deposit can be distinguished by the fact that it contains several elements:

• % rate for the immediate presence of money on deposit;
• term - when it expires, the deposit is closed;
• compulsory insurance to which funds on deposit are subject;
• replenishment – ​​it can be carried out in exceptional cases;
• receiving cash - while the contract is in force, this is impossible.

The expiration of the deposit is carried out by creating two statements. One of them is aimed at closing the account, and the second is aimed at ending the deposit. After this, the money is transferred to the current account or issued to the owner in cash.

The savings book is opened with a current account

Features for Sberbank of Russia

Sberbank has been operating for a long time and continues to offer users a large number of opportunities, associating them with reliability and security. In the lion's share of situations, citizens send deposit funds here. Among the main proposals in this area are several programs:

1. "Save." In this case, deposits and withdrawals are not carried out; there is the possibility of early closure. The rate indicator is 9%, if we are talking about ruble currency, and if we are talking about dollars, then it is 2.22%. You can also use the euro, then the percentage decreases even more and amounts to 1.7%.
2. "Save online". The opening is carried out online, exclusively through Sberbank. There is also a special pension account, which is intended exclusively for persons who are supported by the state.
3. “Replenish.” Deposits and withdrawals are possible, and there is the possibility of early termination of this agreement. The rates for rubles and dollars are also pleasant for the client, 8% and 2%, respectively.

If we take into account other deposits, then their calculation is only for partial receipt of cash.

What should a savings book be classified as?

A reasonable question often arises among users: is a savings book a current account or a deposit account? The income and expenditure of funds on deposits are traditionally reflected in this document.

Recently, their provision has suffered some reductions, and Maestro cards are offered instead. If we consider this issue strictly on its merits, we can note the fact that the savings book is linked to a specific account. At the same time, it is not a personalized tool for using funds. It works like a security or can act as a promissory note. If you lose it, then anyone can become the owner of access and perform any actions with it. Therefore, the passbook account is current.

Thus, we have looked at the fundamental differences in accounts and their features. A competent approach to choosing an account to open will guarantee your benefit and well-being from a financial point of view.

Deposit account is an account opened in a bank by an individual or legal entity for a certain period. The bank charges interest on such funds. The interest rate is negotiated when opening an account and depends on the following conditions: duration of the account, amount, period of conservation of funds.

The main advantage and essence of a deposit account is the increased interest rate on the deposit amount. The main purpose of opening such an account is to invest and preserve available funds.

The interest rate on a deposit is often close to the inflation rate, which means that the invested amount will not decrease over the years due to inflationary costs. And it brings the account owner a small or large income, depending on the amount of the deposit.

Features of the deposit

The bank imposes one condition on the depositor - money can be withdrawn from the account only after a predetermined period. The bank will not issue the money ahead of time or will issue it, but with losses for the depositor. Funds in the deposit account cannot be used for everyday expenses.

Are you interested in deposits with interest paid every month? You will find all the information

It is important to know that a deposit involves giving the bank some valuable property and making a profit from it. Such property can be cash in different types of currencies, securities, shares, jewelry, precious metals. Not all banks agree to transactions with valuables.

Using a safe deposit box as a place to store your valuables without receiving income also corresponds to the concept of a deposit. Sometimes socialists use the term depositary in this case.

Is it profitable to invest in deposits? Watch this video:

Deposits in the bank are made only by depositing cash into the account. Deposits can be opened both in national currency and in foreign currency.

Binary options are a new type of earnings, and find out exactly how to earn money in this way in the article.

Lower interest rates are assigned to deposits. The terms of the deposit are negotiated in advance, before signing the agreement. The depositor, depending on the terms of the deposit agreement, has the opportunity to more freely manage his own funds.

Difference between a deposit account and a current account

It is customary to distinguish three types of accounts that can be opened in banking institutions: current, deposit and settlement. Deposit account is an account opened with a bank under certain conditions. Funds cannot be withdrawn or replenished until a certain time has passed.

Current account – does not limit the owner’s access to his funds at any time. Money from the account can be used for any purpose. Such an account does not generate income for its owner. If the account involves the accrual of interest on the funds in the account, then this is the minimum rate, sometimes it can be about hundredths of a percent.

Savings account in a bank

A savings account is not a deposit account. The accrued interest depends on the amount of the contribution. This type of account allows for free access to funds. Funds can be placed, for example, only for one month; unlike a deposit account, such an account does not have a limitation on the validity period, and without the depositor’s statement of desire to close the account, the service agreement will be extended.

Have money, but you'll need it soon? Then you can find out how to do this by following the link.

Unlike funds in an insured account, funds in a savings account are not insured, which means that in the event of unexpected problems with the financial viability of the bank, the funds cannot be returned to the account owner.

Programs offered by banks can be downloaded

Types of bank deposits

How to save your savings

You definitely shouldn't keep your money in a dark corner at home. So they will depreciate every year, instead of working and generating income. Several reasonable options:

Bank deposits in parts corresponding to the amount of insurance. If the amount is small, then it will not bring much income, but the interest rate will most likely cover the inflation rate. Conversion of rubles into foreign currency. The best option is to evenly distribute your available funds and invest in different currencies, so the chances of going broke are reduced.

Investing in gold – gold never loses value, which means it is a profitable investment.

Stocks and securities - securities markets and exchanges, structures are complex and quite serious in terms of understanding. You can get rich in one minute, or you can lose everything, but if you understand all the intricacies and devote a lot of time to this process, you can increase your initial capital several times over.

Is it possible to live off a bank deposit? This video will tell you:

How to open an account

In any bank, when opening a deposit, a specialist will need to provide:

• passport;
• when serving, a military ID;
• If available, a pension certificate.

For legal entities, the list of required documents is much more extensive. Each bank independently designates the list of documents it needs, which will be communicated upon your visit to the institution.

Pros and cons of deposit accounts

The main advantage of deposits is the increased rate on the invested amount, and if this amount is significant, then the interest will be a good income. You can withdraw interest income either monthly or at one time when closing the deposit.

The downside is the limitation of the insured deposit amount, which means that in case of problems with the bank, funds in excess of the insured amount cannot be returned.

You can withdraw funds without losses only after closing the deposit; if you miss this moment, the contract will be extended and you will not be able to use the money at your own discretion without losses, or you will have to leave them in the bank for another full term.

Saving your money on a deposit account is a convenient way, but only a deposit with a large initial amount can bring significant income.

Quite often situations arise in which bank clients who use various services of these institutions wonder what the difference is between current and deposit accounts. The appearance of a request for an intelligible answer can be explained by the user’s misunderstanding of the clauses of the service agreement. Occasionally, this question arises from clients who want to know about their options for using the money provided to the bank.

Each banking institution has its own clients. To make it easy and simple for users to manipulate their funds, accounts are created. They are divided by type. When a bank client encounters the expressions “settlement”, “urgent”, “on demand” or “card” in the text of an agreement, he feels completely confused. This publication will discuss how to find out which account is opened at a banking institution.

The accounts used by clients of banking institutions, which will be considered, can be divided into two types:

• current;
• deposit.

Current account

Any citizen (individual), government or charitable organization can open a current account in a bank. They can open it only for personal purposes, which will not be in any way related to business activities. This account allows you to perform a certain number of operations:

• calculation of salary or pension;
• calculation of insurance and social payments (alimony, benefits);
• making payments for purchases;
• receiving and sending money transfers;
• cash out money.

The main feature of a current account, which is used to serve clients of a banking institution, is their instant access to funds.

A current account opened with a bank is not used for investment purposes. For legal entities and organizations, it acts as a depository of money to which they have constant access. As a rule, the bank does not accrue interest on the balance of funds in the current account. And if a banking institution offers such a service, then the interest will be small. You can open a current account both in rubles and in the currencies of other countries.

A current account is useful for making payments involving large amounts of funds. At the same time, you can replenish it only using receipt orders or through the cash desk of a banking institution. In the same way, it is possible to cash out a significant amount. Using online banking services, it is possible to perform operations with funds in the account. The client does not pay a subscription fee to the bank for using the current account.

In order to simplify the procedure for withdrawing funds from a current account, a debit or credit card is attached to it.

The client, when using a card account, has the opportunity to:

• cash out your account or credit money without standing in line at the bank or post office;
• top up your account through the terminal;
• manage funds and control spending using online banking.

The card account holder has the opportunity to:

• convert rubles into foreign currency without cashing;
• make payments for purchases and services;
• entrust the execution of regular payments to bank employees.

Each account has its own personal number. The bank charges a certain fee every month for servicing the card account. Its size is influenced by the type of card, which determines the limit on withdrawal or replenishment of the account. The addition of a card account over the current one facilitates the process of manipulating funds. The client receives expanded capabilities, but is forced to pay for service and convenience.

Deposit account

Deposit account – opens in a bank. A certain amount of money is credited to it, which, according to the agreement, will be on it for a specified period of time. For this, the bank accrues interest to the owner of this account. The main purpose of a deposit account is to increase savings. This option for placing funds is one of the types of passive income. Also, deposit accounts are called investments with little risk, but also with little income. However, deposit accounts are quite popular in Russia. Banking institutions offer various conditions for deposits. Interest accrued by the bank on the deposit is paid in accordance with the agreement - every month or after the termination of the agreement.

Deposits can be:

1. Urgent. When a deposit is made for a specified period. The client has the opportunity to receive his funds only after the expiration of the contract.
2. Poste restante. In this case, the time for which the deposit is open is not determined. The client can withdraw his money whenever he wishes. Consequently, the interest rate on such a deposit is low.

Deposits provide an opportunity to invest financial resources. The amount of interest accrued by the bank on the deposit allows you to neutralize the effect of inflation that always takes place in the financial environment.

As a rule, the owners of these accounts do not have access to their financial resources during the validity of the deposit agreement. The interest that the bank accrued on the deposit can be withdrawn monthly, at the end of the term, capitalized, etc.

Some banking institutions provide the possibility of early termination of a deposit account agreement. However, in this case the client will lose part of the accrued interest or must pay a fine.

In accordance with the law, banking institutions that have a license for such activities can enter into agreements for opening deposits.

What is the difference between current and deposit accounts

The difference between the accounts lies in the functions they perform. Having a current bank account allows you to transfer and withdraw financial resources. However, the owner of this account does not receive profit from the presence of monetary resources in the account. For money to make a profit, it should be placed in a bank deposit account.

Before opening an account at a banking institution, you should decide why it is needed:

• to receive income - deposit;
• to receive payments, make payments for purchases and various services - current.

In a bank account, financial resources of citizens or legal entities are generated in non-cash form. Having made the right choice to open an account, you can either carry out various operations with the funds in the account, or receive income for their use by the bank.

Typically, a standard deposit agreement stipulates that the client will not be able to withdraw the funds deposited by him before the agreed date. Actually, for this inconvenience the bank pays the client an increased percentage.

In essence, both current and deposit accounts in a banking institution are repositories of the client's financial resources, with differences:

• a current account provides immediate, quick access to money. The depository does not allow them to be used for a certain time or provides special conditions for their use;
• The current account does not have an expiration date. A standardized deposit agreement assumes a specific date until which funds will be deposited;
• Banking institutions do not accrue interest on the current account. Opening a deposit account involves the accumulation of funds accrued by the banking institution as interest on the deposit amount.

Anything else - interest accrued by the bank on the balance of money in a regular account, the ability to use part of the deposit and accrued interest - these are the possibilities of a card account. It is a handy and easy-to-use add-on for the client.

To answer the question of how to find out which account is open, you need to understand that only a banking institution can reliably provide such information. Current and deposit accounts typically differ in number identification, which begins with different groups of numbers. The easiest way to obtain accurate information is to contact the bank where the account is opened.

A bank account is a document, the execution of which by a credit institution for a certain person is an integral part of the subject of the bank account agreement concluded between them, and which is intended to reflect the monetary obligations of the 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 specific 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 the movement of funds during accounting and reporting. According to the Law “On Banks and Banking Activities,” clients have the right to open the number of current and other accounts they need in an unlimited number of banks (credit organizations) 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 and local self-government bodies, 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 the presence of a combination of four qualifying features:
- a bank account is an account for recording funds;
- opened and maintained in credit institutions;
- is an integral part of the subject of the bank account agreement;
- intended to reflect the obligations of the credit institution to the client.

All bank accounts are accounting accounts (personal accounts). Their opening is conditioned by the conclusion of a bank account agreement, which entails the emergence of additional functions for them, as well as restrictions that protect the rights of a given client.

In the modern 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 your account. Money can be multiplied by putting it at a certain percentage, and about 50% of residents of large cities use plastic cards.

TYPES OF BANK ACCOUNTS

Current legislation allows clients of credit institutions to open a large number of different accounts that best suit the goals of their activities. The types of bank accounts can be classified on several grounds. Accounts are divided:
- for universal and special ones;
- depending on the account currency;
- depending on the account holder;
- 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. Not replenished. During the entire deposit period, additional contributions are not accepted.
2. With the possibility of replenishment. During the deposit period, you can deposit additional amounts into your bank account.
3. With the possibility of partial withdrawal of funds. You can withdraw part of the invested money from your bank account, but a certain amount must remain in 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 interest accrual.
2. Interest accrual at the end of the term.
3. Interim calculation 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 management, frozen, insured, card, current, correspondent, savings, impersonal metal, general, call, settlement, savings, consolidated, loan, current, transit, fiduciary, stock, private and check.

CHARACTERISTICS OF TYPES OF BANK ACCOUNTS

When contacting a credit institution to open an account, you have the right to choose the type of account based on your needs. Under a bank account agreement, the bank undertakes to accept and credit funds received to the account opened for the client, to carry out the client’s orders to transfer and issue the corresponding amounts and to carry out other operations on the account. Let's look at the most popular types of bank accounts.

A current account is opened at a bank institution for legal entities engaged in entrepreneurial activities, as well as entrepreneurs without the formation of a legal entity for payment transactions for settlements for goods supplied, services rendered, and work performed.

A current bank account is the main account of an enterprise and is usually opened at the place of registration. Current legislation provides that an enterprise can 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 (shops, warehouses, branches) outside their location, at the request of the owner of the main current account, settlement sub-accounts can be opened for crediting revenue and making payments at the location of these divisions.

A current bank account is used for:
- crediting revenue from business activities and making payments related to this activity to suppliers and counterparties in civil transactions;
- crediting the amounts of received loans;
- settlements with banks for loans received and interest on them;
- settlements with employees for 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 transactions are completed.

Current bank accounts are opened for organizations that are not legal entities: public organizations, institutions, branches, representative offices, departments, etc. The following is made from current accounts:
- issuance of funds for wages;
- expenses for maintaining 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:
- shift the responsibility for making regular payments to bank employees;
- send the necessary amounts to third parties, for example, to pay for goods or services;
- avoid the need to come to a bank branch by receiving a plastic card for your account to cash out funds and pay for purchases;
- convert funds without withdrawing them from the account. That is, the rubles in 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 open to individuals for settlement transactions not related to business activities or private practice.

A deposit account is intended for storing temporarily available funds. It is open to individuals and legal entities. Under a bank deposit agreement, a credit institution that has accepted a sum of money received from or received for a depositor undertakes to return the deposit amount and pay interest on it under the conditions and in the manner prescribed by this agreement.

The interest level depends on the length of the term - the longer the term, the higher the interest. 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 will not be able to make a single settlement transaction. In case of urgent need, you can withdraw your money from the deposit account, but you will have to pay a fine, which is different in each bank. The amount of the fine must be specified in the contract.

Only those banks that have received a license to attract funds for deposit in Russian rubles or foreign currency in accordance with the requirements of the current legislation of the Russian Federation have the right to open a deposit account.

Budget bank accounts are opened for organizations (enterprises) financed from the federal budget (extra-budgetary funds). Depending on the nature of the transactions taken into account, they are divided into income, expenditure, current accounts of local budgets and current accounts of extra-budgetary funds.

Funds from budget accounts are subject to strictly intended use. As a rule, they are spent on: remuneration of employees; transfers to the population; payment for goods, works and services under concluded state or municipal contracts or in accordance with approved estimates without concluding such.

Budget accounts are opened for a certain period (fiscal year). When an account is closed, the remaining funds at the end of the financial year are transferred to the appropriate budget.

A foreign currency bank account is used to conduct settlement transactions in foreign currency. “Foreign currency” is money 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 organization (parent organization), opened in a division of the Central Bank settlement network, in other organizations;
- correspondent subaccount - a bank account opened by a credit institution for its branch in a division of the Central Bank settlement network;
- inter-branch settlement accounts – accounts opened on the balance sheets of the parent organization and branches to account for mutual settlements;
- a correspondent account “LORO” is opened by a correspondent bank to the respondent bank, through which the correspondent bank carries out transactions for transferring and crediting funds. The specified account is also 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 is usually a loan on the balance; lending on a special basis – lending based on turnover.

A registered account is opened by the bank in the name of the client. Such an account is managed by the client through any bank branch upon presentation of an identity document. If money is transferred from such an account to an account at another bank, the receiving bank sees the owner's name and 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 account holder's name and identifies the account holder's identity if necessary. Operations on the account, as a rule, can only be carried out through your representative at the bank, which does not allow you to use the account in other branches of this bank.

A card account is opened by the bank to record transactions performed by the client using a bank card. The cards themselves are divided into two types: debit and credit. Using a debit card, the client can withdraw money from an ATM or pay for purchases without exceeding the amount in his account. Credit cards, in turn, allow you to exceed the amount, but within a clearly limited loan amount, which is agreed upon when receiving the card and depends on your solvency.

Rules for numbering bank accounts

Our country uses a 20-digit bank account. A 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 type of account this account belongs to.
The 2nd group consists of 3 characters and indicates the currency in which the account is opened in accordance with the all-Russian currency classifier.
The 3rd group consists of one character and contains the so-called. the account key, which is calculated based on a special algorithm taking into account all other digits of the account, as well as the BIC 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 ratings of international rating agencies (Standard & Poor’s, Moody’s, Fitch and others).
3. A range of banking services provided to clients.
4. The degree of control over banking operations by the state.
5. Compliance of the bank’s profile with the specifics of the proposed operations on the account.
6. Cost of servicing a bank account.
7. Minimum deposit.
8. Possibility of obtaining credit cards.
9. Ease of servicing remote clients.
10. Interest on current and deposit accounts.
11. Territorial location of the bank and its branches.
12. Availability of investment programs.

CONCLUSION OF A BANK ACCOUNT AGREEMENT

In the modern world, it is impossible to imagine a company that does not have a bank account. The bank does not have the right to refuse a 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 permitted by law or other legal acts.

The basis for opening and maintaining an account is a banking agreement. Under a bank account agreement, the bank undertakes to accept and credit funds received into the account, carry out the client’s orders to transfer and withdraw 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 in the established form (sample provided by the bank).
Constituent documents confirming the legal status of the company: charter, memorandum of association, minutes of the decision on creation (copies certified by a notary, a higher organization or body carrying out registration).
Certificate of state registration (copy certified by a notary).
Two cards with sample signatures and a seal imprint, one of which is notarized.
Certificate of registration with the tax authority (copy).
Certificate of registration with the Social Insurance Fund (copy).
Certificate from the statistical authorities on the assignment of OKPO codes and classification characteristics (copy).
Documents confirming the election, appointment to the position of persons authorized to manage the account, indicated on the bank card: election protocols, orders for taking office, orders for appointment, etc. (copies).

Within ten days after the bank opened an account for the company, it is necessary to report this to the Tax Inspectorate at the place of registration.

After signing a bank account agreement, the client - account owner can carry out any types of operations provided for by this agreement and current legislation.

We come across banks every day - we go to receive or send money, open accounts and cards, and in fact our whole life would be a little incomprehensible without banks and their functions that they now perform in our society.

Sometimes banking terminology is so difficult for us to perceive that we have to look for the meaning of a particular banking term.

Our editors sometimes receive questions of this nature - “I have a deposit or current account, how can I find out?”, “What is the difference between a deposit account and a current account?” or “What does a deposit or current account mean?”... As it turns out, such simple terms for our citizens become an obstacle in their financial relations with banks. Most likely this is the problem of the banks themselves, that they pay little attention to their clients, do not train them and talk with clients only on a specific issue.

In this material I want to answer your questions and still tell you in more detail about the current and deposit accounts, their difference and what does this mean?

Current account...

Current bank account- this is an account that is opened in the name of a bank client, which allows the client to freely use the funds that they themselves deposited on it. Using a current bank account, you can deposit money into it and carry out transactions of any format, of course, within the limits of the balance on it. As a rule, money is sent from a current account to other accounts or transfers are received from other accounts, not necessarily opened in the same bank. For the fact that you use a current account, the bank may charge a commission and also charge you interest on the balance of money on the current account; as a rule, the interest on current accounts in the bank is not large, which cannot be said about the deposit account...

Deposit account...

Deposit account- this is an account that the bank opens for the client to place the client’s temporarily free funds on it. Opening a deposit account by a bank is a mutual agreement between the bank and the client to place money on it for a certain period - 1,2,3,6,9,12... months. The client’s money remains in the deposit account for a certain period of time, and for the fact that the client does not withdraw it, the bank pays the client a reward in the form of interest. As a rule, at the end of the deposit account term, the client withdraws his money along with interest or places the money in the deposit account for another period.

What is the difference between a deposit account and a current account?

By the definition of a deposit account and a current account, which were described above, the general difference between them is already clear, but I will still describe to you the main points that distinguish a current account from a deposit account:

You can use money from the current account at any time, and from the deposit account only at the end of the contract.

The bank does not charge interest on the current account, or charges a small percentage, but necessarily charges a large percentage on the deposit account.

As a rule, this pair is combined when a bank client places money on deposit, while the money is credited to the client’s deposit account, and interest on the use of the deposit is credited to the current account.

Also, a deposit account and a current account differ in account numbers, which the bank specifically numbers for each client. In Ukrainian banks, you can distinguish these accounts by the first 4 digits - the current account begins with 2620, and the deposit account begins with 2630 or 2635. You can view these numbers in the agreement that the bank gave you when opening the account.

It happens that a payment card can be linked to current accounts so that the client can use money from the current account at an ATM or store, but a card is not provided for a deposit account, because you gave the money to the bank for a period.