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Open business bank account in Belarus
A bank account is an important attribute of each company. Without a corporate account it is impossible to conduct an effective business. The opening of such an account is an agreement between the client and the bank on the allocation of funds and operations with them. Using an account, a company gets the opportunity to make transfers, keep money, make cashless payments and make other financial transactions. Residents and non-residents are entitled to open accounts in Belarusian rubles and in any foreign currency. Banks establish different conditions for each type of account, so before you open an account, you need to identify your needs and proposals of financial institutions.
Banks in Belarus that offer services to companies
All commercial banks in Belarus provide services to companies. These are Belarusbank, Belagroprombank, Belinvestbank, Bank Dabrabyt, Paritetbank, BPS-Sberbank, Belgazprombank, BelVEB Bank, Priorbank, Alfa-Bank, VTB Bank (Belarus), MTBank, Technobank, BNB Bank, Idea Bank, TK Bank, BSB Bank, RRB-Bank, Solution, BTA Bank, ABSOLYUTBANK, Fransabank, StatusBank, Zepter Bank.
Bank services to companies
Choosing a bank for cooperation is an important step in doing business. Banks of Belarus offer various products to attract customers from small, medium and corporate businesses. However, there is an approximate general list of basic services. The most important of these are lending in the form of providing cash both for current activities and in the form of investments, deposit operations, cash management services, and foreign exchange operations. In addition, banks offer reference and analytical services.
Account Opening Procedure
The procedure for opening an account is regulated by the Bank Code, the Civil Code, and Decree of the President of the Republic of Belarus dated 16.01.2009 №1.
You can open an account by personal appeal to the bank or by using the registration authority. Upon personal appeal, a company independently applies to the bank with a proposal to open an account for it and presents the necessary documents. The registration office assists in opening an account, if there is a corresponding mark in the application for state registration of a new company. In this case, the registration authority will independently send to the bank the information necessary to open an account. At the same time, representatives of a company will need to personally come to the bank to conclude an agreement and issue a signature card.
Based on the submitted documents, the bank enters into an agreement with the company and opens an account no later than the next day (except holidays). The company is assigned a number to identify the owner.
Documents required for opening an account by a company
• application;
• a copy of the charter with a stamp of the state registration. Notarization is not required.
The law does not oblige to submit other documents for opening an account, but in practice there are situations when the bank's local regulatory legal acts include the need to provide additional documents.
Documents required for opening an account by an individual entrepreneur
• application;
• a copy of the state registration certificate. Notarization is not required.
In some case additional documents can be asked.
Opening accounts in Belarusian and foreign currency
It is possible to open accounts in Belarusian rubles and foreign currency in banks and NBFIs of Belarus. This can be done by both a resident and a non-resident. It is possible to open an account in the currency which is established by the National Bank and has the official exchange rate of the Belarusian ruble.
Opening an account by a foreign company in Belarus
A foreign company has the right to open a current / settlement account, deposit accounts, and other accounts in foreign currency that is established by law in banks of Belarus. In Belarusian rubles, a non-resident has the right to open a current / settlement account of type “T”, an account of type “C”, a deposit account and other accounts mentioned in legal acts.
Conclusion of a bank account agreement
The subjects of the contract can be a bank or an NCFD on the one hand and a company, an individual entrepreneur or an individual on the other. An individual can conclude this contract from the age of 14. The account holder can be a resident of Belarus and a resident of another country.
Analyzing the legal nature of the agreement, the following characteristics can be distinguished: a bank account agreement is a consensual, bilateral (mutual), onerous, public or accession agreement.
The bank account agreement form follows the general rules for processing transactions.
Making a bank card
Bank payment card provides access to a bank account.
A bank payment card issued and used under an agreement concluded between the bank and the company. A corporate card that provides access to accounts on which the organization’s own funds are stored is debit. This card allows you to use the funds in these accounts within the balance of cash on them or the overdraft limit established by the agreement on the use of the card.
In order to make debit and credit bank payment cards to customers, the bank concludes:
• agreement on the use of the card;
• loan agreement.
Before concluding an agreement on the use of the card (credit agreement), the bank is obliged to provide the client with information on the use of the card.
After concluding an agreement and opening an account, an application is sent to the client to personalize the card.
When the card is made, the client is given a PIN code or other necessary information for transactions, including information on the card details and the method of access to the account.
Confirmation of authority of the chief accountant
Earlier, in order to confirm the authority of the head and accountant of the organization it was required to have the documents places in the State Register. Nowadays, a signature card is used for these purposes.
Certification of signatures of officials
When you open an organization’s account, you need to draw up a bank card with signatures of people authorized to sign documents for settlements. This card allows you to make operations on the account. The Bank independently carries out certification of signatures included in such a card. If the information on the people included in the card has changed, the account holder is obliged to immediately notify the bank about this in order to make a new card within a month.
Account Management
The account holder may manage the funds in his account on his own or through authorized people.
The right of disposal is confirmed by the signature card.
Rights to dispose of funds may be limited in case of seizure of funds or suspension of operations on the account.
Internet bank
In conditions of intensive development of information technologies, banks faced the task of minimizing the participation of personnel in the process of providing services. In this regard, a significant part of banking products is implemented using remote banking systems. Internet banking allows you to remotely make payments, transfers, manage your finances. Banks have the right to independently choose which transactions to make in remote banking systems.
Client-bank
Client-bank is a system of electronic banking services for companies and individuals. It allows you to remotely interact with the bank, managing accounts and financial flows from anywhere in the world. At the same time, special software is installed on the organization’s computer.
Bank service payments
Organizations can choose either a package with a specific set of services, or service under standard conditions. Opening an account may be paid or included in the package price. For witnessing signatures on the card, a fee may also be charged.
The bank account agreement may include the obligation to pay for the bank’s services for the transactions to the client’s account.
In order to choose the best option, before opening an account, you should familiarize yourself with all the tariffs offered by different banks.
Photo: creditcardsmojo.com, poisk-banka.ru