Today it is quite difficult to do without banking services. Paying salaries, repaying loans, paying bills and many other operations can be easily and easily carried out thanks to such institutions.
There are these types of bank accounts for individuals:
- Deposit.
- Credit.
- Current.
- Card.
This list is also relevant for legal entities. We will analyze in more detail the indicated types of bank accounts.
Deposit
If you do not want to work and at the same time dream of having a stable cash income, you can open in a bank deposit account. True, there is one drawback with this method of doing nothing and getting money - you need to have sufficiently large savings so that interest payments on the deposit are enough for you to live on.
A deposit account is a contribution that can be made by both an individual and a legal entity. Depending on the duration of the contract, it can be:
- short term;
- long term;
- perpetual.
Banks need deposit accounts as the main means to attract liabilities, which they further use to issue loans.
There are different types of this financial product that differ in their characteristics. The main differences are in the amount of interest rates, conditions contract renewal, penalties, payment amounts, etc.
Credit
A loan is something that will allow you to make an expensive purchase if you do not have enough money. And due to the fact that it can be repaid monthly for one or even two or more years (depending on the terms of the contract), the load on the family budget will not be large. That is why loans for household appliances are quite popular.
Lending is a banking method of making money, therefore, interest rates on loan agreements are slightly higher than on deposits.
Current
According to its characteristics, the current account is not similar to any of the above. He will not allow you to earn money or use the funds of the bank. Its main purpose is to allow storing, managing, transferring and performing other operations with non-cash money.
Mostly current accounts are used by legal entities, since usually the cost of settlement and cash services for them is much lower than other types of bank accounts. And here we ourselves understand: even if the commission is half a percent less, then with a turnover of millions of rubles this is a significant savings and advantage. At the same time, its validity period is almost unlimited and there is no monthly commission for maintenance (it applies more to individuals).
Card
If we consider the most popular types of bank accounts for individuals, then the leader in the rating will certainly be card. And every day there are more and more of them. They are gradually replacing other types of accounts.
This is the same current one that has the main advantage - the card. In fact, it is a plastic key to human funds that are on the account and allows you to:
- withdraw or deposit funds to an account outside the bank branch through special ATMs;
- to make cashless payments directly at points of sale without drawing up payment orders;
- many banks support remote card management (via mobile phone, Internet, etc.);
- can be both credit and funded;
- control settlement transactions by setting a limit for withdrawals or payments.
And all this can be done without coming to the bank branch. Such mobility allows a person to feel their independence.These advantages have contributed to the fact that the bulk of the population has not even one, but several cards.
How to open an account?
The question of how to open or order a particular service in the bank is also relevant. Despite what types of bank accounts you decide to open, first of all you will need a passport and an identification code. If you are a legal entity, then constituent documents and extracts from state registers will be required.
On credit accounts, the issue is more acute, since other additional documents may be required to open a financial product. These include a statement of income, statements of existing accounts, certificates of employment, etc. This is understandable, because banks want to minimize their risks. Therefore, when opening these types of bank accounts, be prepared that this can be delayed and the service will not be as fast, for example, as when opening a deposit.
The most difficult thing is for legal entities that have decided to open line of credit. It represents several credit accounts, which the company can use as necessary. For such a thing, banks have entire departments that collect a wide range of various documents, up to balance sheets and auditors' reports.
