Opening an account in foreign currency by an individual. Foreign currency accounts in Sberbank for individuals: how to open an account? Foreign exchange account - what is it
The question of how to open a foreign currency bank account for an individual is especially acute for those who often commit expense transactions v foreign currency... Undoubtedly, you can transfer funds in rubles, but in this case you will have to pay an additional commission for currency conversion. In addition, everyone knows that the bank sells foreign currency for a few percent more expensive than it buys. Today, everyone has the opportunity to open an account in foreign currency, even if you are not a legal entity or individual entrepreneur... However, let us examine this issue in order, and also present several proposals of credit and financial institutions in Russia.
Why do you need a foreign exchange account and its advantages
The first step is to determine who needs a foreign currency account. In addition, it is important to know what benefits and what it gives potential customers:
- can be exchanged into currency remotely without looking for exchangers;
- the owner can make transfers to individuals, for example, relatives living abroad;
from it you can pay payments and loans without currency conversion; - for those who often travel abroad or pay for any goods, there is no need to buy currency every time and pay a conversion fee.
But at the same time, one should not forget that financial institutions charge a certain fee for the service. That is, the owner will still have to pay for its opening and maintenance, plus pay separately for transfers and commissions.
Process of paperwork
To begin with, it is still worth explaining what a currency account is. In fact, this is a personal account of an individual opened in foreign currency. That is, the bank opens it in your name, it is intended for storage and movement Money in a specific foreign currency. But today it is also possible to open a multicurrency account, that is, you can store not only domestic, but also foreign currency, and receive cash or pay for purchases in that currency without conversion.
In fact, the process of registering a foreign exchange account is quite simple. The main task of a potential client is to choose the right bank. Indeed, there are a lot of offers on the financial services market, so you will have to spend a little time studying banking sites. As a rule, information about the terms of service is posted on the official website of the bank, however, it is advisable to personally visit the branch and consult with a specialist. Next, you need to prepare several documents:
- identity document;
- application form;
- the amount for the down payment.
So, in order to become a client, you must definitely come to the bank yourself and write an application, then make an initial fee for a certain amount, at least 5-10 units of foreign currency. If you are already a client of this or that bank, it is possible that it provides the opportunity to use all the services without leaving your home using Internet services.
Please note that when you open any bank account, you have the opportunity to receive a plastic debit card tied to it.
Which account to choose
For individuals banks offer several options for opening foreign currency accounts, including deposit accounts. That is, everyone has a choice to open a deposit in foreign currency or an account with the only difference that the deposit allows you to receive benefits in the form of interest. As for the interest rates on deposits, they can vary greatly, for the most part they range from 0.1 to 3% per annum.
A foreign currency account for an individual is suitable if it is needed to carry out various operations; in this option, it makes no sense to open a deposit. Insofar as interest is accrued only for a certain period of storage of funds in case of early disposal of money, the bank does not accrue profit.
There is a third option - this is a multicurrency account, that is, it allows the owner to profit from fluctuations in the exchange rate, for example, banks offer to open an account in three currencies: in rubles, dollars or euros. Further, the client independently manage his finances, for example, if the dollar is expected to rise, then the user can convert his savings into dollars.
The best offers from commercial banks
Today, almost all commercial banks offer opening a foreign currency account for individuals. But before determining where it is better to open a foreign currency account for individuals, when considering various proposals, it is worth paying attention to some important details:
- opening cost and annual maintenance;
- commission for the operation;
- commission for replenishment;
- possibility of remote control.
Please note that up-to-date information on banking offers can be viewed on the official website commercial bank... Including about opening a foreign currency bank account.
Reflection of a currency account in Sberbank Online
Sberbank of Russia
Here you can open a deposit or current account in foreign currency, as for deposit offers, then there are many of them. You can open a deposit both in the territorial division of the credit and financial organization, and in online cabinet in the Sberbank system online. As for the interest rates on deposits in foreign currency, they on average fluctuate from 0.01 to 1.25% per year, the terms for placing funds on the account are quite flexible, from 1 month to several years.
As for foreign currency accounts, there are two relevant proposals: a universal account or on demand. The only difference between them is that a demand account has no deadlines, that is, it is unlimited, and the universal one is valid for 5 years, after which the contract is renewed automatically, and the number of renewals is not limited.
Interest rates on account balance 0.01 percent per year. You can open an account in any currency, including dollars, euros, Japanese yens, Canadian dollars, Swedish kronor, pounds sterling and others. To draw up an agreement, it is enough to contact any branch of Sberbank and sign a service agreement. By the way, as far as tariffs are concerned, there is no fee for opening and maintaining an account, the minimum deposit amount is $ 5, or an amount equivalent to $ 5. It should be noted that the number of deposits and withdrawals of cash is not limited, provided that the balance must be at least a minimum balance of $ 5.
Methods for opening a foreign currency account with Sbarbank
VTB Bank of Moscow
In this credit institution There is one proposal for a foreign currency account - this is a current account without interest. Currency: rubles, dollars or euros. Minimum amount unlimited, term - unlimited, there are no restrictions on replenishment and withdrawal of cash. You can submit an application directly at a bank branch or in Internet banking, provided that you are already using the services of VTB24 Bank and you have access to your personal account in the online system.
Credit Europe Bank
Credit Europe Bank has the ability to quickly issue an account in foreign currency, namely in US dollars, euros, Turkish lira or pounds sterling. You can open an account at any branch of Credit Europe Bank, it is enough to have a passport with you, as for the payment for the service, it is 10 conventional units. The service will also cost you 10 conventional units. By the way, no fee is charged for existing depositors and borrowers on credit to Europa Bank, a fee is charged for bank transfers is from 1 to 10% of the transfer amount, depending on the amount and currency. It is possible to issue a debit card for managing funds.
Alfa Bank
Similarly, Alfa-Bank delivers the ability to open a current account in any currency within one of the service package. That is, the user can choose one of four service packages - Economy, Optimum, Comfort and Maximum plus. The difference lies in the cost of the package of services, respectively, the higher the cost, the more opportunities the bank provides.
It is important that the client can use the package of services from Alfa Bank for free, provided that an account is opened for crediting the client's main income.
As for the terms of service, the bank provides an opportunity to open an account in any currency: rubles, dollars or euros. In addition, the bank accrues income up to 7% on the balance on savings account and allows you to issue a debit card for free and use remote services. As for the account in foreign currency, the owners of the current account have the opportunity to transfer their funds into any currency, for example, when traveling abroad, you can transfer your savings into dollars or euros through Internet banking.
So, the main question, in which bank it is better to open a foreign currency account, is an individual question for everyone insofar as the terms of service are identical everywhere. But it is also worth noting that some banks charge a service fee while others do not. In addition, some banks, for example, Alfa-Bank, make it possible to earn up to 7% on the balance from their own savings.
As you can see, it will be quite simple for an individual to open a dollar account. At the same time, the bank does not require any additional documents from citizens of the Russian Federation, by the way, for non-residents of our country it is necessary to add documents confirming the right to stay in Russia to the list of documents. In any case, you can always get up-to-date information about the products and services of this or that bank from the operator hotline the bank of your choice.
In the article, we will consider what a foreign currency current account is and find out how it differs from a simple checking account. Let's talk about currency transactions and the procedure for opening a bank account. We have prepared for you the rates of banks for servicing foreign currency accounts and collected feedback from their customers.
What is a foreign currency current account
According to the legislation of the Russian Federation, each company carrying out entrepreneurial activity, has the right to conclude contracts with foreign partners. In such a situation, legal entities need a foreign currency current account, for example, a dollar one.
A currency account is called a current account in which foreign currency is placed. Opening and all operations on this account regulates the Federal Law "On Currency Regulation and Currency Control".
Note that only financial institution, which has the appropriate license for this.
This type of account can be used:
- for operations using monetary units other states;
- for the implementation of financial transactions, the subjects of which are located abroad;
- to transfer funds related to the export and import of goods;
- to obtain loans with a duration of no more than six months;
- to receive a pension, wages etc.
Everything foreign exchange earnings are carefully checked by the bank. As soon as the money is credited to the account, you will receive a notification. Within 15 days, you need to transfer the documentation on the operation performed to the financial institution.
Let's clarify that on the territory of our country, non-cash payments between residents in any currencies, except Russian ruble are prohibited at the legislative level.
Differences between a currency account and a simple checking account
Currency and regular current accounts have some differences. Foreign currency accounts are used for settlements in the currency of other states. In this case, you are given a SWIFT code, which you will use to interact with a foreign banking organization.
As for a regular current account, it is opened in order to conduct settlements with partners in rubles. Such an account is a kind of "wallet" for any company.
TOP-10 banks where you can profitably open a foreign currency account
Bank | Opening an account | Account keeping | Translation cost |
0 p. | 0 p. | 25 - 30 dollars | |
0 p. | 0 p. | 300 - 3,000 RUB | |
0 - 2500 RUB | 1700 RUB | 0.3 of the amount (minimum $ 15) | |
0 p. | 0 p. | 0.15 - 0.2% of the amount | |
Expert Bank | 0 p. | from 0 p. | 0.05 - 0.2% of the amount |
500 p. | 0 p. | 0.1% of the amount | |
from 0 to 2000 rub. | 1,500 - 2,190 p. | depends on the type of currency | |
0 p. | 200 - 800 RUB | 0.5% - 1.5% of the amount | |
0 p. | 0 p. | 0.1% of the transfer amount | |
0 rub. | 1440 - 9900 RUB | 0.13% of the transfer amount (minimum 37 USD / 28 EUR) |
You can familiarize yourself with the tariffs in more detail on the official websites of the above banking organizations. But it is worth noting that often financial institutions do not charge an additional fee for opening a foreign currency account if your company is already on the cash register at the institution you applied to.
How to open a foreign currency current account
A foreign currency account for an organization is opened in strict accordance with the bank's regulations. Let's take a closer look at how to open it correctly.
First of all, you need to start collecting the necessary documentation. The requirements for it differ in different banking organizations, so it is worth consulting with your personal manager.
Most often, to open foreign currency accounts, you need to provide the following securities:
- form-based statement banking organization;
- account opening agreement;
- the constituent documents of your company;
- extract from the Unified State Register of Legal Entities / EGRIP;
- a card with samples of signatures and seal imprints;
- passports of all persons who will have access to the account.
If you open a foreign currency account in a bank in which you are already serving, the list of documents will be reduced. In such a situation, the manager will ask you to fill out an application form and draw up a contract.
If you have opened a foreign currency account with a banking organization outside the Russian Federation, you must inform the Federal Tax Service of this fact within 7 working days. Otherwise, you risk getting a fine of 5,000 rubles. If an account is opened in Russia, the bank itself will notify the tax office.
So what do you need to do to complete an invoice?
- Choose the most suitable banking organization.
- Consult with a specialist on the issue of opening an account in foreign currency.
- Collect and submit the required documentation to the financial institution.
- After you transfer the documentation, you will be opened three accounts: current, transit and special transit. With the help of these accounts, the movement of funds, as well as their accounting and control, will be carried out.
- Sign .
After all the steps have been completed, you will be able to use the account to carry out the necessary operations. Further, we propose to read the reviews of entrepreneurs who have already opened foreign currency accounts in various banking organizations.
The easiest way to open a foreign currency bank account for an individual is to contact a credit institution where you already have an account - Sberbank, Alfa-Bank, Gazprombank, VTB24, etc. Opening foreign currency accounts by individuals in this case takes from days to 3 days and does not require additional documents.
Why is it better to open a foreign currency account with Alfa-Bank
Alfa-Bank, along with the known disadvantages, has a number of advantages:
- Favorable exchange rate - the difference is only 50 kopecks with the Central Bank's rate of plus (when buying currency) and minus (when selling currency funds).
- Convenient online account opening.
- The basket of currencies is quite diverse - euro, dollar, British pound and Swiss franc.
- The operational support of consultants in the chat of the Alfa-Mobile application is still available.
Of the significant risks, one can single out the fact that funds in the bank's foreign currency account are not physically stored in Alfa-Bank, and not even in Russia. In the case of the euro, it is the German Commerzbank, located in Frankfurt am Main, for the dollar, the American Citibank in New York. Alfa-Bank is the beneficial bank. This fact should be taken into account when calculating geopolitical risks.
Let's analyze the opening of a currency account in dollars and euros at Alfa-Bank. Two options:
- Open a foreign currency account in a bank department
- Open via mobile app Alpha Mobile.
Pros and cons of opening foreign currency accounts at a bank branch
To begin with, let's decide on the pros, cons and how to open a currency card in a bank for an individual.
Minuses
- Queues and not always friendly staff
- The activation time for foreign currency accounts is several days longer
- Exchange rate much less profitable when replenishing through the checkout.
pros
- No need to install a paid app
- The ability to get a complete answer from a specialist
Pros and cons of opening a foreign currency account online
Minuses
- Alpha Mobile is a pay-for-service application.
- Accounts are activated later the specified period- after 3 working days instead of 1 declared.
- It is impossible to get a complete answer from a specialist.
pros
- There is no need to visit a branch of Alfa-Bank with all that it implies.
- The ability to get an answer very quickly - in the chat.
- The exchange rate is noticeably more profitable when transferring through the Alfa-Mobile or Alfa-click application. The difference is 50 kopecks from the rate of the Central Bank.
- If the bank closes, you can withdraw money more quickly, without waiting for the Central Bank of the Russian Federation to revoke the license.
How to open a foreign currency bank account online
Let's describe the method through Alfa-Mobile. This application can be downloaded for free in the Appstore or Google Play, but keep in mind that the uncut version of the application debits money from your account every month - 59 rubles under the guise of a commission for the Alfa-Mobile service.
Instructions
If you do not have the opportunity to leave your home, or just the desire did not arise, you can master making money on the Internet by creating a currency account and manipulating exchange rate differences.
Step 1 Open the application, select "Opening new accounts" as in the image:
Step 3 Now decide on the currency in which you need to open a currency account: dollar, euro, British pound or Swiss franc:
In our country, you cannot carry out transactions in foreign currency outside of bank accounts. However, no one forbade enterprises to engage in foreign trade activities.
At the same time, contracts are concluded with foreign partners and settlement obligations arise. To complete them, we need foreign currency accounts.
These are accounts that differ from our usual settlement accounts only in that funds in foreign currency are placed on them. And also by the fact that the bank will open two accounts for us.
One - transit - the incoming currency will be credited to it. Part of it is subject to mandatory sale in accordance with the law. And the balance is transferred to the second foreign currency account, which is intended for accumulation and transfers.
Read about how and in which bank it is better to open foreign currency accounts for legal entities and individuals.
Foreign currency accounts are accounts where funds in foreign currency are deposited
Since according to Russian legislation any domestic enterprise can conduct foreign trade activities, many firms use this right and conclude agreements (involving settlement obligations) with foreign counterparties.
In this case, it becomes necessary to open a bank foreign currency account, since it is prohibited to carry out operations in foreign currency outside of it.
What are they and what are they used for
A foreign currency account opened with a bank by a legal entity is an account where funds in foreign currency are deposited for their subsequent management.
The rules for opening such an account and operations with funds on it are regulated by the Federal Law "On Currency Regulation and Currency Control", as well as by a number of Provisions of the Central Bank of the Russian Federation, created on the basis of this law. One of the main restrictions associated with opening a foreign exchange account is the following rule: only those commercial institutions who hold the corresponding license from the Central Bank of the Russian Federation.
A company that has opened a foreign currency account with a bank acquires the right to carry out a number of operations in foreign currency, both current and related to capital flows:
- The first category includes the following operations:
- money transfers related to export and import;
- obtaining loans for a period not exceeding 180 days;
- transfers related to the transfer of interest, dividends and other types of income received from the movement of capital;
- other money transfers (pensions, salaries).
- The second group includes following operations:
- investments (in authorized capital foreign enterprise or securities);
- transfers in payment for real estate (recognized as such by the laws of the country where it is located) abroad;
- deferred payment for exports and imports (for a period not exceeding 180 days);
- obtaining loans for a period of more than six months;
- other transactions in foreign currency that cannot be classified as current.
If a legal entity wants to open a foreign currency account with a bank and signs a corresponding agreement, then, in fact, three accounts are opened for it at once:
- transit (for crediting proceeds in foreign currency),
- current (to account for the funds remaining at the disposal of the enterprise after the mandatory sale of export earnings)
- special transit (for accounting for foreign currency purchased on the territory of the Russian Federation).
How to open a legal entity
If a foreign currency account wishes to open an enterprise - a bank client who has already opened a current account with it - all that is needed is to fill out an application and sign an agreement.
Otherwise, you must submit a package of documents:
- constituent documents and certificate of state registration of a legal entity (notarized copies);
- a card of signatures of persons who will have the right to manage the account;
- notarized copies of the tax registration certificate and the information letter on registration with the state statistics authorities.
As for the cost of the service:
- As a rule, Russian banks do not charge additional fees for opening a foreign currency account if the company is already on the cash register.
- If a legal entity only intends to become a client of the bank, then the service will cost it an average of 1,000 rubles, and it will receive account maintenance and access to Internet banking free of charge.
Source: "kibanki.com"
Aircraft operations
Currency account (BC) (English currency account) is an account in banking institution, owned by a legal entity or individual, on which their funds in foreign (convertible) currency are accumulated and spent. Banks accrue interest on funds in foreign currency accounts in the currencies in which they have income from placing funds on the international foreign exchange market.
Enterprises of any form of ownership and management can engage in foreign trade activities, for which they can open a foreign currency account in Russia.Such an account can be opened with a bank that has a license The central bank Russia to conduct operations with foreign currency. The main regulation governing the implementation currency transactions, is the law of the Russian Federation "On currency regulation and currency control", as well as issued on its basis by the regulations of the Central Bank of Russia.
Transactions with foreign currency and securities in foreign currency are subdivided into:
- current foreign exchange transactions,
- foreign exchange transactions associated with the movement of capital.
Current foreign exchange transactions:
- transfers to and from the country of foreign currency for making settlements without deferred payment for the export and import of goods, works and services, as well as for making settlements related to crediting export-import transactions for a period not exceeding 180 days;
- obtaining and providing financial loans for a period not exceeding 180 days;
- transfers to and from the country of interest, dividends and other income on deposits, investments, loans and other operations related to the movement of capital;
- transfers of a non-commercial nature, including transfers of wages, pensions, alimony, as well as other similar transactions.
Foreign exchange transactions related to the movement of capital:
- direct investment, i.e. investments in the authorized capital of the organization in order to generate income and obtain the rights to participate in the management of the organization;
- portfolio investments, i.e. acquisition valuable papers;
- transfers in payment of ownership of buildings, structures and other property (including land and its subsoil), attributable under the laws of the country to real estate;
- granting and receiving a deferred payment for a period of more than 180 days for the export and import of goods, works and services;
- providing and receiving financial loans for a period of more than 180 days;
- all other foreign exchange transactions that are not current.
An authorized bank opens one account for the company in any convertible currency, but it is possible to open an account in several currencies. All foreign currency funds of the enterprise are to be kept in a foreign currency account.
For non-observance of this procedure, the enterprise is subject to a fine in the amount of all foreign exchange earnings.
The account is serviced in accordance with the concluded banking service agreement. In accordance with this agreement, the company opens two accounts at once, which are maintained in parallel:
- transit currency,
- current currency.
On the mandatory sale of foreign exchange earnings
In accordance with the instruction of the Central Bank of Russia dated June 29, 1992 No. 7 "On the procedure for the mandatory sale by enterprises, associations, organizations of a part of foreign exchange earnings through authorized banks and conducting transactions in the domestic foreign exchange market Russian Federation»And subsequent additions to it, all proceeds received from the export of goods and services rendered, with the exception of some cases stipulated in the instructions, are credited to the transit foreign currency account of the enterprise.
Then the company (bank client) is sent an account statement and a notification. Upon receipt of this notification, the enterprise within 14 days gives an order to the bank for the obligatory sale of 50% foreign exchange earnings and the simultaneous transfer of the remainder of the proceeds to its current foreign currency account.The authorized bank sells foreign currency on the interbank currency exchange within seven business days. The ruble proceeds from this sale are credited to the company's current account.
Foreign currency earnings on the current foreign currency account by order of the account holder can be:
- transferred abroad for import operations;
- transferred to foreign trade organizations to pay for imported goods;
- sold at the currency exchange, auction;
- translated into payment of debt for a loan in foreign currency;
- used to pay travel expenses, postal and telegraph services;
- used for other purposes with the permission of the Ministry of Finance of the Russian Federation, the Central Bank of Russia or an authorized bank.
Accounts and deposits in foreign currency for citizens
On behalf of citizens, banks open current accounts and deposits in foreign currency and carry out transactions on them. Commercial authorized banks, upon receiving an application from a citizen and presenting an identity card, open a personal foreign currency account. Then a current account agreement is signed.
- By order of the owner, the funds can be paid in cash, while at the request of the client, a permit is issued to export currency in the presence of a foreign passport with a visa.
- By order of the owner, funds from the current account can be transferred in his name abroad, to the accounts of stores trading in foreign currency in the country.
- By order of the account holder, funds can be deposited on term deposit or deposit. Banks charge interest on current accounts and deposits in accordance with agreements.
In addition to foreign exchange services for legal entities and individuals, authorized banks sell and purchase foreign currency at the rates set by these banks.
The difference between the selling and buying rates should not exceed 10%.
For the performance of these operations, banks charge a commission according to tariffs or do not. The purchase and sale of foreign currency in cash is made operating cash registers bank or its exchange offices.
Opening and maintaining procedure
An important area of foreign economic relations is credit and settlement relations associated with the movement of capital from one country to another, cash payments for goods and services, as well as non-commodity transactions.
Operations with foreign currency can not be carried out by all commercial banks, but only by those who have received permission from the Central Bank of Russia. Permission to commercial banks for credit and settlement services foreign economic activity legal entities and individuals, for other operations with foreign currency is issued by the Central Bank in the form of a license.
By the volume of the granted rights, licenses are divided into general, extended and one-time:
- The general license gives a commercial bank the right to carry out operations in foreign currency both on the territory of the Russian Federation and abroad.
- An extended license differs from a general license in that a commercial bank is allowed to maintain correspondent relationships with no more than six foreign banks.
- A one-time license allows a commercial bank to carry out a specific banking operation in foreign currency.
Such licenses allow the bank to:
- maintain current balance sheet foreign currency accounts of its clients,
- carry out international settlements for export-import and non-commodity transactions through correspondent accounts in authorized banks holding a general license,
- establish correspondent relations with authorized banks of the CIS and with six foreign banks,
- carry out credit operations to attract and place foreign exchange funds within the country.
For example, commercial Bank having an extended license, he can open a correspondent account with Vneshtorgbank of Russia, which has been issued a general license, and carry out all his international settlements through this account.
To carry out foreign economic settlements in an authorized bank, both residents and non-residents (with the permission of the Central Bank of Russia) open accounts in foreign currency.
An account in rubles is opened for non-resident legal entities.
To open a foreign currency account, a client must submit to a commercial bank:
- an application for opening a current balance currency account in the prescribed form;
- application for opening a transit currency account;
- a notarized copy of the charter or regulations on the activities of the enterprise, the memorandum of association;
- a card with samples of signatures and a seal of the enterprise;
- decision to create or reorganize an enterprise;
- help from tax office and pension fund about the registration of the enterprise.
When opening a foreign currency account, commercial banks take into account:
- the client has a qualified financial apparatus prepared for carrying out foreign exchange transactions;
- legitimacy of sources of income currency values;
- prospects of foreign economic activity in terms of foreign exchange earnings.
When a client opens a foreign currency account, the bank may require the client to submit an act of the last revision or an accounting report for the last reporting date... The bank can familiarize itself with contracts, agreements confirming the receipt of foreign currency funds by clients in the near future.
In connection with the mandatory sale of part of the currency by Russian legal entities and individuals to the foreign exchange reserve of the Central Bank of Russia and directly in the domestic foreign exchange market, each client opens two parallel accounts in an authorized bank:
- transit currency account;
- current foreign currency account.
The full amount of receipts in foreign currency is credited to the transit account.
The current foreign currency account records the funds remaining at the disposal of the enterprise after the mandatory sale of export earnings.
A number is assigned to the current foreign currency account in the bank. The account currency is determined at the request of the client. The name of the currency in the bank is coded in accordance with the previously existing classifier of currencies. So, the codes of freely convertible currencies are designated # 001-199.
In the analytical accounting of a commercial bank, a personal account is maintained for each client who has a current foreign currency account. Accounts are accounted for in double counting: in foreign currency and in rubles. Conversion of foreign currency into rubles is carried out at the rate of the Central Bank of Russia.As foreign currency exchange rates change in rubles, the currency balances in bank accounts are revalued (in ruble terms). The amount of exchange differences is charged to the customer's results of operations. Notification of debiting and crediting funds to the client's account is made by means of debit and credit memos.
Incoming funds, as a rule, are initially credited to the client's foreign exchange account in transit. Direct crediting of funds to the current foreign currency account is made only when it follows from the text of the payment document that compulsory sale currency has already been made or currency receipts are exempted by law from such a sale.
Source: "financial-lawyer.ru"
Why do you need a transit currency account
When opening a foreign currency account, a transit foreign currency account is always opened for each type of currency at the same time - this is a bank account intended for crediting payments in foreign currency.
Receipts
Foreign currency will come to the transit account, and you will make foreign currency payments from the current account.
Initially, funds from foreign counterparties will go exactly to the transit account.
Also, if a Legal entity or individual entrepreneur transfers currency from its foreign currency account in one authorized bank to its foreign currency account in another authorized bank, the amount will be credited to the transit account.
Terms of transfer from a transit account to a current one
After the receipt of foreign exchange earnings on the transit account, each organization (according to Instruction No. 111-I of March 30, 2004) has an obligation, by written order, to either sell (within 15 working days after the crediting date) this amount for rubles, or transfer it to the current foreign currency account.
The percentage when writing off export earnings to the ruble / current foreign currency account is determined by the resident independently.
What package of documents is required to confirm the credited amount
To write off funds from a transit currency account, a full package of documents is simultaneously submitted to an authorized bank, namely:
- an order to write off funds, filled in according to the established form of a specific bank;
- certificate of currency transactions, which reflects information on crediting;
- documents that are the basis for receiving foreign currency (agreement, invoices, specifications, annexes, acts of work performed or any other documents on the basis of which foreign currency was received).
In the event that there are not enough documents or information to confirm the credited amount, the bank has the right to request additional data or refuse to execute the order.
Each time a foreign currency is credited from a non-resident, a commission is charged by the bank as a currency control agent in accordance with the tariffs of a particular credit institution.
Sale of currency
If you open an account in foreign currency without opening a current ruble account, the procedure for transferring funds is as follows: foreign currency earnings are transferred to a transit account. Funds are debited from the transit account to the current currency account, and then a currency transfer is made to your currency account in another bank.
Or, you can convert currency from a transit currency account in one bank directly to a ruble account in another bank, but at the same time, you should take into account the tariffs, the need to pay the commission of the currency control agent in the first bank, as well as the accounting features of a particular bank when carrying out an operation and agree with it. possibility in advance.
If the foreign currency is credited under a contract, total amount which is equal to or greater than $ 50,000?
If you have received foreign exchange earnings under an agreement in which a specific amount is determined, and it is equal to or exceeds $ 50 thousand, then it will be possible to write off funds from the transit account only after opening a transaction passport in this bank under this agreement.
The processing time must not exceed 15 business days after the date the currency was credited in order to avoid a violation. It is important to remember that a passport is considered open on time if the bank assigns it a number and signs it within these 15 working days.
Source: "tochka.com"
Transit and current currency accounts. How and why
If you decide to open a foreign currency account, the bank will open two accounts for you at the same time - transit and current. On the transit one, you will receive currency from a non-resident, and from the current one, you will make foreign currency payments yourself.
You received currency from a non-resident, but to use it, you still have to work hard.
The requirement for crediting foreign currency received in favor of a resident legal entity to a transit foreign currency account is established by the Bank of Russia Instruction No. 111-I of March 30, 2004. You can use the currency credited to your transit currency account only after the procedure for identifying the amount received.For identification, you must submit to the bank:
- Certificate of foreign exchange transactions (CBO) in the prescribed form.
- Application for sale (transfer) from a transit foreign currency account in the form established by the bank.
- The justifying document (contract, invoice, other document on the basis of which the foreign exchange operation was carried out) - if it was not provided in currency control bank earlier, including when issuing a PS.
- PS (if necessary and if it is not drawn up in advance).
If all the documents required to unblock the currency are submitted to the bank at the operational time and are properly executed, the foreign currency will be unblocked on the day of submission of the documents.
Accordingly, the funds from the transit currency account will be transferred to the current currency account or to the ruble current account of the organization, depending on the content of the application (i.e., depending on whether you just want to transfer currency from the transit account to the current account or sell it).
If the amount on the transit account was received under a foreign trade agreement (loan agreement) that requires a passport of the transaction (PS) and at the time of unlocking the PS funds you have not yet issued, the unlocking period will increase until you issue the PS.
Well, if you want to do foreign exchange payment non-resident, then you need to fill out an application for the purchase of currency in the form of a bank. When the currency appears on the account, you can safely make a payment, not forgetting about paying VAT, otherwise the bank's currency control will not miss the payment.
Source: "valutnyicontrol.ru"
How to open and use them
Modern banks allow you to keep money not only in national, but also in foreign currency. This is convenient for those who constantly cooperate with foreigners, or prefer to keep their savings in dollars and euros. But not everyone knows how to take advantage of this opportunity.
VS: what is it and why is it needed
A foreign currency account differs from an ordinary one only in that it stores foreign currency funds. If you receive money from foreign partners, then it makes sense to open just such an account so as not to lose interest when exchanging currency. Fluctuations in the exchange rate will become less relevant to you, and their sum difference will be reflected only in accounting.
By law, a foreign currency current account can be opened:
- Individual;
- Organization;
- Entity.
To do this, you need to collect everything Required documents and meet with a bank representative to conclude an agreement. It is worth asking for a list of necessary documentation in advance and specifically at the bank whose services you plan to use. There they will explain in detail how to open a foreign currency account for a legal entity or an individual.
If you do not want to keep all your savings in one place, then no one forbids you to open a foreign currency transit account in a bank with which you have not previously been connected in any way. But using the services of an institution in which you already have investments is still much more profitable - this will save you time, and the list necessary documents will be smaller.
When opening, keep in mind that only one type of currency can be stored on it. That is, you cannot transfer dollars, sterling and euros there at the same time. To do this, you will need three different locations. In most banks, opening and using a foreign currency account is free, as well as accounting for funds in a foreign currency account. If a separate fee is charged for this, bank employees will warn you about this.
What is the difference
Money in a foreign currency account can not only be accumulated, but also actively used. By concluding a contract with a bank, you get the opportunity to use two accounts at once:
- Transit;
- Current.
Both are essential for doing business. A transit currency account is used to receive funds. This is where your employers or partners can transfer money. In fact, this is the internal storage of the bank itself, which you cannot use.
It is needed in order to keep records of transactions in foreign currency accounts, as well as accounting for funds in foreign currency, which are stored in one place.
Therefore, all funds received must be transferred to a current account. Only then will you be able to carry out all the foreign exchange operations you need:
- Pay off loans;
- Withdraw cash;
- Transfer the required amounts.
The process of transferring money from a transit account to a current one at first may seem complicated and full of unnecessary actions. After the sender transfers the required amount, you cannot immediately use your funds. You will need to wait for a notification of the transfer from the bank itself and provide documentation for this transaction. Information about the receipt of funds, as a rule, comes within fifteen business days.
As for the documentation, it can be contracts, reports or any other evidence that the transaction was carried out legally and in accordance with all the rules. This is necessary for accounting for foreign exchange transactions. After everything is checked by the bank employees, the funds will be transferred from the transit account to the current one.
Additional bonuses
In addition to the options discussed earlier, there is also a special transit account. You already know what a transit account is, but this subspecies of it has its own characteristics. It is worth talking about it separately, since its opening takes place without your active participation. It is also used for the most part by the bank to record transactions in foreign currency.
This is a kind of way to control the resident. The Bank has the full right to keep records of operations on a foreign currency account and uses this for its own safety. It is used in the event that a resident regularly sells and buys foreign currency. In this case, you need to account for currency funds and transactions on a currency account, so that everything can be checked at any time.
Most often, it is not opened for an individual, but for an organization. In this case, its managers can also take advantage of the new account. If the company has the necessary documents, then it can be used for various operations related to the purchase or sale of foreign funds.True, not everything is allowed here. So, for example, you cannot:
- Buy another currency with this money;
- Purchase securities.
But the funds located there can be used to cover travel expenses... But its main purpose, as already mentioned, is to keep records of transactions in foreign currency accounts.
Source: "buh-spravka.ru"
Where and how an individual can open a foreign currency account
How to open a foreign currency bank account - this question is asked by almost every person whose life or work is in one way or another connected with foreign exchange transactions. The main advantage of opening such an account is the ability to conduct a transaction without additional costs in the form of commissions.
pros
A foreign currency account has certain advantages:
- It allows you to carry out various operations (buy-sell) without going to exchange offices, as well as use the currency that may not be available at all in exchangers.
- You will be able to make a transfer through the bank to your loved ones who are abroad, pay for tourist trips and study abroad. This is a more convenient and profitable way, in contrast to transfers through international payment systems, since they carry out currency conversion.
- It makes it possible to pay off loans and debts without spending money on paying unnecessary commissions. The amount of payment is not limited.
- Eliminates the need to transport foreign currency when traveling abroad: you can open a special account that will allow you to cash out in any country.
- In the bank of your choice, be sure to inquire about the possibility of opening a multicurrency account. This will come in handy for traveling to the countries of the European Union.
- Provides the ability to manage your funds through a mobile phone or computer. Today, Internet and mobile banking services are available in almost all banks. Thus, you can be aware of all transactions performed on the account without leaving your home.
Having decided to open a foreign currency account, keep in mind that in each bank the cost of services (opening and servicing accounts) is different - you should not lose sight of this moment.
Also, each banking organization has a certain fee for transferring funds to the accounts of other companies, plus fees for withdrawing money.
Description of the opening procedure
The main thing that you need to pay attention to is the one-time fee for opening and the cost of service per year, as well as the size of the commission for cashing out funds, transferring to another account. In addition, currency exchange rates and a wide range of services in foreign currency are of great importance.
To open a foreign currency account, you need to prepare:
- passport
- account opening application
- a certain amount of funds required to open (usually $ 5-10).
After that, the specialist will prepare the documents and provide you with them for signature. Carefully read the agreement and pay special attention to the paragraph concerning the calculation of interest on the balance of funds. Usually, customers are offered to issue a plastic MC or Visa card linked to their account.
Which account to choose
There are usually 4 options:
- foreign currency account
- multiple currency account
- foreign currency deposit
- multi currency deposit.
The third option is needed for those who want to receive additional income in the form of accrued interest. The advantage of a multicurrency deposit is the ability to save funds even with sharp fluctuations in currency rates, as well as withdraw funds in one of the currencies.
Which is better: foreign exchange account or deposit
If you need an account in order to preserve and increase the available funds and, preferably, to receive a certain percentage on them, we advise you to open a deposit in foreign currency. The interest on it is lower than on the ruble, however, if you do not plan to withdraw cash, a decent amount can accumulate in a year.
The advantage of such a proposal will be the opening of a transit account to which money can be transferred to third parties and organizations, and, if necessary, withdrawn.
The most advantageous offers for them can be found in:
- Credit Europe Bank
- Tempbank
- International Bank St. Petersburg (MBSP)
- Prime-Finance Bank
- Eastern Express Bank.
Detailed conditions are presented on the official websites of these companies.
If you were planning to invest in euros, then you will find the most attractive conditions in:
- Tempbank (up to 2.5%),
- Prime Finance (up to 2.4%),
- YAR-bank (up to 2.05%),
- BBR Bank (up to 1.8%),
- Sibes Bank (up to 1.75%).
Opening a foreign currency deposit in the conditions unstable economy is a wise decision for anyone who wants to keep their savings and also get additional income. Usually the rates for such programs are quite low, but the income from this type of investment is much more profitable than from deposits in rubles.
If you need an account for permanent transactions, then we advise you to issue bank card... With its help, you can receive and send transfers, pay payments and purchases, withdraw cash.The most attractive conditions are offered by Alfa-Bank, Sberbank of Russia, Rosselkhozbank, Bank of Moscow and VTB 24.
In Sberbank, you can even open a foreign currency deposit online from your personal account:
The operation is confirmed by a one-time password sent via sms.
Source: "kreditorpro.ru"
How to open a dollar account with Sberbank
According to the legislation, in Russia all settlements are carried out in rubles. Making transfers or invoicing in other currencies is prohibited in the country. This prohibition does not apply to transfers of money abroad or receipt from there.
Most often, foreign payments are made in dollars. If necessary, bank customers can open foreign currency accounts for settlements. The procedure for their registration does not cause any particular difficulties, but their use has some nuances.
What it is
This is a foreign currency account with a banking organization. It opens in the name of a specific person or organization. On this account, funds in foreign currency can be accumulated, as well as spent or credited. According to the conditions, interest may be charged on the account balance.
Dollar accounts are current and deposit. The difference between the two is that the latter are urgent (have a start date and an end date).
Interest is accrued on the available amount, according to the terms of the agreement.
- Dollar deposits are used to preserve and increase savings.
- Dollar current accounts are needed for settlements and currency storage. They have a date of opening and are unlimited. Until the client decides to close, the accounts will continue to operate.
A dollar account can be opened with a bank licensed to work with currency.
Individuals and organizations can open such an account. Companies use a foreign currency account for settlements with foreign partners. Account servicing is regulated by the law "On foreign exchange regulation", as well as by various acts of the Central Bank and internal regulations jar.What operations can be performed:
- Transfers abroad and receiving money from abroad (commercial or non-commercial).
- Keeping your own money.
- For settlements between individuals or organizations.
- Portfolio investment such as asset acquisitions foreign company and so on.
Opening an account
The bank opens an account on behalf of the client. Upon presentation of an identity document, a foreign currency account is opened.
Immediately in the system, the employee forms a contract for a complex banking service and an account opening agreement. The standard current dollar account number will start with 40817840ХХХХХХХХХХХХ, where the combination 840 means the currency code - dollar.
You can also open a foreign currency account yourself in the online bank. To do this, go to your personal account and select the tab "Deposits and accounts" and "Open new contribution»:
Choosing a savings account:
Select the account currency - dollar and confirm the opening:
The new account should appear in the list of all accounts and deposits.
You can receive transfers from abroad to a foreign currency account
Money transfers from abroad can be received into foreign currency accounts. To do this, the account holder must provide the sender with his account details. You can also find out them from the agreement or in personal account on the "Account details" tab:
- If money is credited to a dollar account in dollars, then they are credited in the same amount.
- If the transfer is made in yuan to a dollar account, then the bank will convert yuan into dollars at the time the money is received. Here you can lose on the exchange rate difference, or you can win.
With frequent receipts from abroad of money to the account of an individual, the bank may have suspicions. According to Federal Law No. 115, the account can be blocked until the client provides documents confirming the origin of the money.
The bank may require proof that the proceeds are not the result of “money laundering” or the person is not engaged in illegal business activities.
The fact is that there is a clause in the account opening agreement that the current account will not be used for business purposes. For this, the bank offers different accounts and at completely different rates.
Conversion
Quite often, when money is received on the accounts, currency conversion takes place. This happens when the currency of the sent transfer does not match the currency of the account. If the sender sends rubles to a dollar account, the amount will be converted at the time of crediting at the current rate of the bank. To avoid exchange rate losses, it is better to use identical transfer currencies and accounts.
In the context of developing relations with other countries, bank customers increasingly need to open accounts in foreign currency. Today, almost everyone provides this service. credit institutions, there is a foreign currency account for individuals and in Sberbank. Opening, conducting cash and non-cash transactions on it is regulated by the legislation of the Russian Federation, regulations Central Bank, intrabank instructions and regulations of the Savings Bank.
There are four lines of banking products that cover all the needs of foreign exchange customer service. These are accounts such as:
- Bank deposits used for payments and transfers: Savings account, Universal, On demand;
- Time deposits: Save, Manage, Replenish;
- Open for debit plastic cards: "Momentum", Standard from Ind. design, Standard, Aeroflot, Gold, Visa Platinum;
- Included in Packages banking services: Sberbank Premier, Sberbank First.
Reasons for opening
The need to open a foreign currency account with Sberbank for an individual usually arises when:
- There is a need to carry out conversion transactions for the purchase and sale of currency, both in cash and non-cash;
- It is expected to carry out non-cash banking currency transactions to receive and send transfers, pay bills;
- I would like to preserve and increase savings in the preferred currency.
Characteristics, conditions and comparative parameters
Consider deposits for payments and transfers, the essence of the discovery of which is to provide the functions of non-cash currency settlements for individuals.
- The possibility of replenishment;
- The ability to carry out expenditure transactions;
- Possibility of opening in bank branches and remote channels of online service (for existing clients of the bank);
- The presence of an interest rate equal to 0.01% per annum.
Types of accounts and deposits in foreign currency
"Savings account"
Pros: no expiration date, with any withdrawal amount, any balance amount, opens in different currencies (euros, US dollars, Canadian, Hong Kong and Singapore dollars, RMB, pounds sterling).
"Poste restante"- assumes free disposal of money
Pros: unlimited validity period, the possibility of replenishment, the ability to open an account in rare currencies.
Minuses: minimum balance(equivalent to five US dollars), deposits in rare currencies (other than US dollars and euros) are not issued in all branches.
"Universal"- involves the use for transfers and payments.
Pros: the possibility of replenishment, the ability to open an account in rare currencies.
Disadvantages: time limit (no more than five years), minimum balance (equivalent to five US dollars), registration in currencies other than US dollars and euros is not carried out in all branches.
Term deposits (provide accumulation functions)
General conditions for the validity of deposits:
- registration of all deposits in US dollars;
- the ability to register in the offices and service Sberbank Online;
- more high profitability and privileges for pensioners when making a dollar deposit through Sberbank Online.
Types of fixed-term dollar deposits:
"Save"- assumes targeted savings and profitability.
Features: amount - from $ 100, term - from one month to three years, interest rate - up to 1.35% (for online registration) and up to 1.15% (for registration at a bank branch), there is no possibility of replenishment and partial withdrawal ...
"Top up"- involves the accumulation of funds;
Features: amount - from $ 100, term - from one month to three years, interest rate - up to 1.15% (for online registration) and up to 0.95% (for registration at a bank branch), there is a possibility of replenishment, but not carry out a partial withdrawal.
"Manage"- assumes convenient management of funds.
Features: amount - from $ 1,000, term - from three months to three years, interest rate - up to 0.8% (for online registration) and up to 0.6% (for registration at a bank branch), there is the possibility of replenishment and partial withdrawal without loss of interest.
Debit cards
To carry out transactions using cards through remote service channels (ATMs, terminals, payments on the Internet, etc.), a special account is opened in US dollars or in euros, to which the Card is issued. Its type, like the currency of the account, in mandatory determined by agreement with the Client.
The list and types of Sberbank currency cards with an indication of the annual service fee are given below:
- "Momentum" - free of charge, issued on the date of circulation;
- Customized Standard - 25 USD / EUR;
- Standard - 25 dollars / euro;
- Aeroflot - 35 USD / EUR;
- Gold - $ 100 / euro;
- Visa Platinum - 100 USD / EUR.
The card category determines the daily and monthly cash withdrawal limit, the amount of free withdrawals from ATMs and cash desks in other regions, the number of bonuses accrued under the "Thank you from Sberbank" program, etc.
Detailed tariffs are posted and periodically updated on the bank's website.
Banking packages
Opening foreign currency accounts as part of a comprehensive package service Sberbank Premier and Sberbank First already included in the product filling and package prices.
The benefits of using batch service are higher interest rates on deposits, large card withdrawal limits, preferential conversion, personal support of all accounts in Sberbank.
Opening and closing
You can open an account at the office with your passport in hand. Existing clients of Sberbank can open an account or deposit in the Sberbank Online application (instructions and videos on login and registration are posted on the bank's website).
An application for a card can be submitted at any branch or posted on the Sberbank website indicating the office where it will be convenient for you to approach to receive plastic upon receipt.
Account closure is carried out at the request of the client.
Benefits for owners
Opening a foreign currency account with Sberbank does not entail additional financial and time costs, but allows:
- diversify savings - place deposits in different currencies;
- make profitable non-cash conversion (online cheaper than cash at the checkout);
- using a currency card, it is beneficial to save on conversion rates when traveling abroad, since when paying abroad with ruble cards, the conversion takes place at the rate set by the bank on the date of processing the transaction;
- when ordering goods through the website, save by paying sellers and legal entities making payments in foreign currency.