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Criteria for Choosing a Bank to Open a Settlement Account in Russia
June 4, 2018 17:29


Criteria for choosing a bank to open a settlement account in Russia

In addition to your own preferences and goals that your business will pursue, there is a number of factors on which you have to focus, choosing a bank:

  • the price of the service for opening an account for an entrepreneur,
  • the price of service for a bank account (it is not necessary in some organizations, in the case of a zero turnover on account)
  • how much they will charge for transactions on the transfer of their own funds - the cost of processing one payment order
  • options for adding and servicing the online bank, as well as the cost and commission
  • location of the bank 
  • reliability

This factor is considered, including with the help of feedback from the company's customers. It is advisable to choose a bank that is involved in the system of state guarantees of DIA (Deposit Insurance Agency). In this case, you can expect that your funds stored in the bank will be insured, and in case of unforeseen problems of banking organization, the state will compensate you for it.

How Much does the Settlement Account in Russia Cost? 

Today many companies start offering different discounts. You can find promos where when paying for a year in advance, you will get a reduction in the price of servicing your settlement account.

Why does a Sole Proprietor in Russia Need a Settlement Account? 

Legal Services in Russia

Our attorneys offer various legal services for international clients interested in opening or developing business in Russia.
We have a profound experience in legal advice and interaction with government agencies.
Our attorneys in Russia offer the following services:
- Written legal advice on Russian legislation – from $80
(when buying a subscription for 2 or more consultations per month - $70)
- Legal support for subsidiaries / branches and representative offices
- Registration services (registration, modification, liquidation of subsidiaries / branches and representative offices)
- Accounting services for subsidiaries / branches and representative offices

Contact us


Author: Anna Dorozhkina

Tags: Legal Services in Russia Russian business Settlement Account in Russia   

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