What is the difference between a current account and a personal account? Current account and personal account. It is the same? What operations can be carried out on a current account?

Today, every person is interested in having a bank account. A valid account provides access to a variety of non-cash transactions - storage and accumulation of capital, payments for goods and services, transfers of funds, services. However, it is easy for a potential client to get confused: they offer to open accounts of various types, including settlement and current accounts. Let's figure out how they differ and what activities they are suitable for.

A current account is a bank account that is used to record financial transactions of the population. Consists of twenty digits that form a unique account number for each holder. A typical example of an account is "" accounts or passbooks.

In a practical sense, opening a current account for an individual allows:

• Transfer funds to government and commercial organizations;
• Receive wages on a plastic card linked to your account;
• Keep your savings in a safe place;
• Make loan and other payments.

An important nuance. Financial institutions and regulatory authorities prohibit opening a current account for business and entrepreneurship. If its owner is convicted of commercial use of the account, the bank will cancel the agreement for settlement and cash services.

To accompany trade relations, banks open a separate type of account for corporate clients - current accounts. These are accounts with twenty-digit numbers that allow you to:

• Receive payment for goods sold or services provided;
• Transfer money to suppliers or to the state treasury;
• Pay for cash management services at the selected rate;
• Keep your own savings in a safe place;
• Make payments on loans and borrowings;
• Calculate salaries for employees.

Formally, the law does not oblige organizations and individual entrepreneurs to open a current account. However, in practice, opening an account is necessary: ​​without a bank account, a company or entrepreneur can make non-cash payments in an amount of no more than 100 thousand rubles.

Note that not only clients are interested in maintaining accounts. Thanks to bank accounts, tax and judicial authorities exercise control over Russian businesses. This gives legal entities and individual entrepreneurs certain preferences:

• A financial institution does not have the right to refuse a client to open a current account;
• Purely active accounts opened by one client are not limited;
• The only reason for refusal provided by law is conducting illegal activities.

Having outlined the features of current and current accounts, let’s try to compare them according to key parameters:

Differences between a current account and a current account

	Current account	Checking account
Meaning of the term	An account used by a bank to record financial transactions of individuals	A type of bank account opened for commercial activities
Owner status	Individuals	Legal entities and private entrepreneurs
Operation type	Transactions between a citizen and a legal entity, not necessarily for trade purposes	Settlements between counterparties within the framework of trade relations
Opening an account	According to customer's requirement	Necessary for full calculations
Service fee	Most banks do not charge fees	The cost of settlement and cash services depends on the tariff

It is obvious that the accounts in question are similar. Both settlement and current accounts are opened for non-cash transactions and storage of funds. This is reflected in the official bank account records, where both types of accounts are recorded as “checking account.” The distinction between them is made by bank employees - for their own convenience and the convenience of clients.

In a practical sense, the difference between settlement and current accounts concerns their purpose. For commercial activities, entrepreneurs and organizations open current accounts, and for ordinary transactions a current account is provided. At the same time, citizens themselves decide whether they need a current account. Business is more limited: without a current account, active payments and a large volume of financial receipts are impossible.

These differences determine the cost for RKO:

• For legal entities and individual entrepreneurs, the service is paid. The financial institution charges a commission for frequent transactions and additional functionality;
• For individuals the service is free. Current accounts are opened, as a rule, for a limited number of transactions.

Thus, a current account and a current account are different concepts, which is reflected in banking rules and Russian legislation. Having finally understood the purpose of accounts, a potential client can make the right choice in favor of one or another service.

10:03 11.04.2019

The main elements of bank details are information about the current account and personal account.

In order to be able to work with them correctly, it is advisable to know and understand what they are and what their differences are.

Account number

Settlement number is an independent bank account of the enterprise through which all non-cash payments are made.

It should be said right away that such an account is an account that was opened in one of the banking institutions. Using it you can carry out a certain type of operations related to money movements:

1. An organization or enterprise has the ability to transfer funds to the balance sheet of other companies.
2. Receive money to your account number.
3. Transfer a certain part of the funds to a deposit.
4. Withdraw money from the deposit, transferring it to the settlement balance of the enterprise.

From a legal point of view, all funds deposited and on the balance of a certain account number are the property of the person in whose name it is registered. In other words, if the owner is an individual, then the funds on the settlement number belong to him.

And if the details belong to a legal entity, only specially authorized employees on the staff of this enterprise have the right to use this money.

It is important to know: in the banks of our country they open a current account that has 20 or more digits, just like a regular personal balance, so there is no visual difference between them.

You need to open such an account:

1. In the case of organizations, it is needed to make payments with work partners (that is, other organizations and individuals).
2. If we talk about the settlement number of an individual, then it is needed to conduct financial transactions of a business nature using banking institutions.

Face number

A personal number is also called an accounting number, which is used to work with money of legal entities and individuals.

The main signs that indicate that a particular account is personal are:

1. The number consists of 20 digits, the first 14 of which are the same, and the rest are designations of the personal number opened in a particular bank.
2. The ability to open your personal account for this type of balance, used for online banking and solving various problems, from analytical to control of funds turnover.
3. A personal number is opened for both an individual, that is, a citizen, and a legal entity (enterprise), exclusively for the internal movement of funds.
4. The main feature of a personal account is that it works through the remote banking system, which allows you to carry out banking transactions without working with counterparties (that is, intermediaries).

What is the difference

A current account is considered full-fledged and is registered with the Bank of Russia, while a personal account is located exclusively within the bank in which it is opened.

The main differences between a current account and a personal account can be described as follows:

1. A personal balance is required only for conducting transactions between your accounts and cards. Also, using it you can make payments, top up your mobile phone account or pay for the Internet.
2. The account number is used to conduct transactions related to the business activities of the enterprise.
3. Both options can be used to carry out banking transactions to transfer, withdraw or receive funds, but only a current account can be used for business activities.

Many banks try to clearly separate both options from each other. This is especially true when working with a legal entity. Restrictions may be placed on your personal balance that prohibit external transactions.

Worth knowing: in some cases, the use of the company’s personal balance is permitted only for payment for services and goods, as well as deposits.

Why do entrepreneurs need a personal number?

The desire to save money most often becomes the reason for breaking the law in terms of using personal balance for business activities.

Despite the fact that the settlement number allows the use of very broad functionality, many legal entities also open a personal account.

This is due to:

1. Much cheaper cash management services.
2. In some cases, a personal balance has no restrictions on the movement of funds, as well as on the required amount of balance on it, which allows you to bring the balance to zero at any time.

However, if it is used for commercial purposes, quite unpleasant situations may arise:

1. In the case of transferring funds to a personal number, with a note that the transfer comes from an individual entrepreneur, such an operation may simply not be carried out.
2. If you ask the buyers themselves not to indicate in the documents that the activity is carried out through an individual entrepreneur, they themselves may not agree to this, since for them this is fraught with a fine.

Banks themselves do not have the right to monitor financial activities, as well as their direction, of individuals and legal entities. However, in case of violation of the law, which can be revealed as a result of a tax audit, sanctions from government authorities are possible, ranging from large fines to criminal liability or liquidation of the enterprise.

How to open a personal bank account, watch the following video:

In the terminology of banking services, concepts such as current and personal accounts of clients are used. They differ. What is the difference between current and personal accounts is described in this article.

This concept covers a wide range of applications. It is used to record all financial transactions of a legal entity or individual. Such accounts are opened not only by credit organizations, but also by tax authorities, pension funds, housing and communal services management companies, investment companies, etc. These are analytical accounting documents.

The bank opens a personal account for a client, an individual, to carry out and record actions with financial assets: placing money on deposits, transferring them when paying off loans, calculating interest on deposits, etc. It can be linked to a debit or credit card and used by an individual for personal purposes to transfer funds to legal entities, including repaying bank loans, paying for goods and services of legal entities, storing their own funds, and receiving passive income.

One individual can open several such accounts for each type of transaction (credit, settlement, savings, investment). Personal account information is confidential, but the bank provides it at the request of regulatory authorities.

Using an individual entrepreneur's personal account for commercial payments

Until 2014, Article 23 of the Tax Code of the Russian Federation directly prohibited the use of personal accounts of individuals to conduct business. Now this provision has lost its legislative force, but is valid in fact. It is very attractive for individual entrepreneurs to conduct financial transactions through them. The law does not prohibit them from doing this, but there are restrictions. A personal account can be used if the cash payment limit under one agreement with a legal entity or other individual entrepreneur does not exceed 100,000 rubles. There is no limit for settlements with employees and ordinary individuals.

The basis for restrictions on individual entrepreneur payments through a personal account is:

1. Bank of Russia Instruction No. 163-I, still in force in 2018, prohibits its use for business or private practice. The bank has the right to refuse to carry out transactions if it determines that cash receipts are related to business activities.
2. When receiving large sums of money, its owner must be prepared for the bank to inquire about the source of financing. This occurs within the framework of anti-terrorism and anti-money laundering laws.
3. Business partners may refuse to transfer money to the entrepreneur for him, because in this case, payment for a product or service is recognized as income of an individual and is subject to taxation in the amount of 13% of the amount.
4. The financial relations of the individual entrepreneur with counterparties are confirmed by contracts. If money is sent to this account by an individual entrepreneur, problems will arise with the tax authorities, since the transaction will be difficult to justify.
5. The tax authorities will try to collect tax not only from the funds transferred to the individual entrepreneur for entrepreneurial activities, but also from personal money.

Under any taxation system (USN income minus expenses, OSNO, Unified Agricultural Tax), an individual entrepreneur must confirm business expenses. If payments are made from his personal account, the tax office will not accept them to reduce taxable amounts. As a result, the entrepreneur will have to pay more taxes.

Thus, an individual entrepreneur can work using a personal account for business activities, but by doing this, he limits himself in many ways.

• Buyers and clients do not have the opportunity to pay with payment orders or cards.
• Online trading opportunities are limited.
• There is a risk of being suspected of money laundering.
• The circle of partners and clients is narrowing.
• Increased risks associated with storing cash.
• Cannot hold excess cash beyond the established limit.

What is a current account?

According to Article 861, paragraph 2 of the Civil Code of the Russian Federation, payments between legal entities and citizens for business activities must be carried out in non-cash form. Each legal entity or individual must open a bank account (check, demand, current) through which non-cash payments are made. This is a bank record with a unique number, which can be used to identify a client of any bank, as well as track all of his financial transactions. It is not necessary to deposit money when opening it.

The bank does not charge interest on the funds placed on it; it is not intended for receiving passive income or storing money. This is a special operational tool for carrying out settlements by submitting orders to the bank through various channels. One bank client may have several current accounts that differ in currency and the intended purpose of the funds placed..

In the Russian Federation, a 20-digit account numbering system is used. The 20 digits of the number encrypt the owner (individual or organization, 3 digits), subject of the federation (3), account currency (3), control (1), bank division (4), bank account number (7).

For whom is a current account opened?

It can be owned by both a legal entity and an individual. Individuals open it on their own initiative. Their accounts are often called current accounts. For legal entities and individual entrepreneurs with settlements exceeding 100,000 rubles, it is mandatory to have a bank account.

What documents are needed to open a current account?

To open it, an individual just needs to contact the bank with a passport and submit an application. For ease of use, it can be linked to a debit or credit card. Legal entities should first check with the bank for a list of documents and requirements for the form of their identification. They may differ from bank to bank.

Basic documents that all banks ask for:

• Extract from the Unified State Register of Legal Entities. Its shelf life is one month
• Certificate and registration of a legal entity
• Extract on registration with the Federal Tax Service and Taxpayer Identification Number (TIN)
• Constituent and statutory documents of the enterprise
• Letter of registration with state statistics bodies
• Orders on the appointment of an accountant and manager
• Documents confirming the actual location of the organization

The difference between personal and current accounts

In practice, both personal and current accounts are often called settlement accounts, but there are differences between them.

Personal accounts:

1. Open to individuals to store money, receive passive income and make payments to other individuals or organizations.
2. Cannot be used for commercial activities.
3. They are serviced by banks free of charge or at a minimum tariff.
4. They may not have limits on the movement of money during the day, as well as requirements for a minimum balance of funds.

Current accounts:

1. Open to legal entities and individuals.
2. They are not used to generate passive income, but are opened for quick access to available funds.
3. Mandatory for legal entities and individual entrepreneurs for payment amounts exceeding RUB 100,000.
4. One individual or legal entity can have several accounts in one bank, differing in purpose and currency.
5. Maintenance will cost organizations from 1000 rubles. per month.

Organizations are required to carry out banking transactions only using their current account number. Individuals can use a card linked to a current or personal account.

Why are current and personal accounts separated?

Both current and personal accounts are bank accounting documents. The first one is intended for making payments, and the second one keeps records of all the client’s monetary transactions.

What is the difference between individuals and legal entities?

An individual in the Russian Federation is a citizen of the Russian Federation, a foreigner or a stateless person who has certain rights and obligations by virtue of his existence. Individuals differ in age, gender, nationality, financial situation, and place of residence. They act as subjects of legal relations, have legal capacity and capacity in accordance with the civil legislation of the Russian Federation.

A legal entity is an enterprise, an organization created by an individual and registered by government agencies. It can be in various organizational and legal forms (LLC, OJSC, JSC, PJSC, NPO, etc.), be non-profit or commercial, own property, conduct economic or commercial activities, dispose of separate property that is on their balance sheet. They have the right to enter into contracts, make transactions, and participate in court hearings as plaintiffs or defendants. The rights and obligations of legal entities are enshrined in their charters and in the Civil Code of the Russian Federation.

Video: Opening a current account for an individual entrepreneur. How to open an individual entrepreneur account in a bank?

A current bank account is required to record monetary transactions of an individual entrepreneur or company. Such an account is not used by the client as a means of earning interest or storing savings. Through the current account are made financial transactions necessary for the operation of the company.

Definition of current account

The client has the opportunity to deposit any amount into the account and withdraw it at his own request. In some cases, the deposited funds may be blocked by the tax authority: for example, due to debts on contributions and taxes.

Creating an account is not free: The bank withdraws a pre-agreed monthly amount as payment for maintaining the account. If no financial transactions have taken place through the account, the bank will not accept payment.

The number of accounts that one organization can open is not regulated. They usually differ in the currency used and the purpose of the finance.

By law, a bank cannot refuse an organization to open an account if its activities do not contradict the laws of the country. To create a record, you need to collect a package of documents. Some of them must be certified by a notary.

Papers required individual entrepreneur To register an account at most institutions:

• certificate of registration of individual entrepreneurs in the register of individual entrepreneurs;
• data from the Unified State Register of Individual Entrepreneurs;
• certificate of registration with the tax authority;
• passport.

Papers required for account registration companies:

• certificate of registration of the company as a legal entity;
• data from the Unified State Register of Legal Entities ();
• decree on the creation of a company and the appointment of its management;
• data on registration with the tax office at the location of the organization;
• charter with the seal of the tax authority;
• sheets of records from the Federal Tax Service;
• memorandum of association;
• license for the activity (if necessary);
• data on the assignment of statistics codes from Rosstat;
• papers to the legal address of the company;
• seal;
• passport.

For accurate information, you should contact the branch of the organization where you decided to create an account. When registering an account, you should take into account that if the bank goes bankrupt, all invested funds will be burned along with the institution.

Opening a current account has a number of advantages. When you own an account, there is no need to constantly visit the bank. Employees of a company or individual entrepreneur can purchase plastic cards to which wages will be credited. The procedure for paying taxes and contributions, as well as working with counterparties, is simplified.

Features of a personal account

It's called a personal account record keeping of financial and credit transactions of individuals and companies. Accounts of this kind are common in tax offices and government agencies. Depending on the purpose of the account, it displays different data.

1. In case of conducting employee accounts the record stores information about salary calculations, various benefits, compensation and other transfers of financial resources. Based on this data, the amount of required payments for taxes and contributions is calculated.
2. Bank personal account necessary to record all financial transactions between the bank and its client: storing data on the movement of funds on deposits, accrual of interest. Typically, a bank creates several personal accounts for one citizen.
3. On personal account of shareholders displays information about the securities of an individual or company: their issue indicating the type, category, registration number, value and quantity. The manager record stores information about budget allocation transactions.
4. U insured citizen The personal account stores data for measuring future pension accruals. The record has a unique number and is stored until the date of death of the insured citizen.
   A personal account is also created for each tax payer at the time of registration with the tax authority.

Conducting transactions between credit institutions

A correspondent account is opened for transactions between two credit institutions in order to fulfill a correspondent agreement. The record displays data on settlements carried out by one bank on the instructions of another bank.

An account is necessary to participate in the creation of a reserve fund, record your own property, and save payment data. Correspondent accounts are of the types “Vostro” and “Nostro” (“Loro”).

Main differences

A personal account is not intended for commercial activities and is used for the citizen’s personal purposes: for example, to pay for utilities or communications. In turn, a current account is necessary for transferring finances to other persons - and usually these operations are related to the commercial activities of a company or individual entrepreneur. The account provides the ability to send and receive payments from other bank accounts.

Some banks do not make it possible to transfer funds from an individual’s personal account to companies or receive anything from them. A current account can be used as a personal account - to pay for purchased services or goods.

Correspondent and current accounts have a similar feature - are a type of banking accounting. However, a correspondent account is opened by a banking structure, and a settlement account by a company or individual entrepreneur.

For non-cash transfers, an organization needs a current account: funds received from sales of goods and services are credited to it, and employee salaries are also credited from it.

A correspondent account stores not only your own money, but also the financial assets of organizations opened with the bank. To transfer money to a company or individual entrepreneur, you need to know not only the organization’s account, but also the bank’s correspondent account.

Current accounts are accounts of financial transfers of a company or individual entrepreneur. Funds in the account are available upon the first request of the bank client; in some reports they may be called demand accounts.

The name "current account" is used as an informal designation for the accounts of citizens who use it for private settlement transactions. As a rule, current accounts are not related to commercial entrepreneurial activity and are distinguished from the term “current account”.

In official bank account records, both current and demand accounts are recorded as “current accounts.” The distinction was created for the convenience of the bank employees themselves.

Find out how to open a current account for free and quickly in this video.

Currently, it is difficult to imagine a person who is not a bank client. Through banking institutions they pay salaries, pensions, and make transfers to each other. Almost everyone has a credit card, or at least once in their life they have used a loan or opened a deposit for some purpose. When interacting with banks, two such concepts are often encountered: personal account and current account. Some people believe that these concepts are the same as each other, but this is far from the case, and it is recommended to know the difference between them in order to avoid problems when making payments.

What is a current account?

Every enterprise needs to make settlements with counterparties: it transfers funds to its suppliers, receives money from buyers for products supplied to them, and so on. To solve this problem, a bank account is opened, intended for carrying out payment transactions. Currently, almost all operations are carried out using remote banking services (Client-Bank or Internet Bank applications), which significantly saves employee time. As soon as an enterprise receives a certificate of registration as a legal entity (or an individual is registered as an individual entrepreneur), he needs to open a current account in order, at a minimum, to pay taxes and other mandatory payments to the state.

To do this, you need to come to the bank and provide the following package of documents:

• A card with sample signatures of persons who can manage funds in the account (usually the director of the enterprise and the chief accountant). This form can either be certified directly by bank employees, or by a notary, who will certify the rights of the responsible persons.
• Constituent documents (TIN, registration certificate, extract from the state register, charter, orders for the appointment of responsible persons or similar decisions of the founders). All documents must be certified by the seal of the enterprise.
• Copies of passports of persons who will manage the company’s funds in the account.
• Application in the prescribed form for opening a current account.

After this, the bank carries out a legal examination of the documents so that all documents comply with the current provisions of regulations and all responsible persons have the necessary rights. Information is also checked by the security service. If among the managers or owners of the company there are persons who have or have had problems with the law (conviction for economic crimes, management of a large number of enterprises, previously engaged in illegal schemes for optimizing tax payments), the bank may refuse to open an account, since financial organizations carefully monitor their own reputation.

In case of a positive conclusion from the legal department and security service of a banking institution, a current account for financial transactions is opened for an entrepreneur or enterprise in a credit institution, which is a unique twenty-digit code.

Using the account, you can perform any payment transactions in favor of the state, counterparties and individuals, as well as carry out various financial transactions (for example, obtaining and repaying a loan, replenishing a deposit or withdrawing cash during periods of lack of funds). Also, a current account is necessary to receive payments from buyers and customers, and when carrying out retail trade, to deposit cash received from customers to ensure subsequent payments.

Opening and maintaining a bank account is a paid procedure. The financial institution, in accordance with the concluded agreement, charges the client a fee according to the established tariffs without acceptance (in other words, the client’s consent to carry out such an operation is not required).

One of the main features of a current account is the presence of a remote banking service agreement. Using the “Client-Bank” service, you can perform all necessary banking operations, except for withdrawing and depositing cash.

What is a personal account?

As a rule, a personal account is opened by ordinary citizens. A personal account is opened when a person enters into an agreement to deposit funds. Just like a current account, a personal account is a twenty-digit unique code. With its help, the bank maintains analytical records when performing settlement transactions with an individual’s funds.

To transfer money to your relative, or transfer someone a reward for services rendered or goods sold, you need to know his personal account. Currently, you can encounter situations where a personal account is “linked” to a phone number or credit (debit card), which simplifies the transfer process. Having a personal account to carry out any payment transactions is mandatory.

A personal bank account should be understood as:

• a special entry in the accounting system of a financial organization, which records the funds of a client - an individual;
• part of the unique twenty-digit current account number, which allows you to identify a specific client;
• an individual’s account in the Internet bank or when opening a demand deposit for making settlement and payment transactions.

A personal account can be used for the following purposes:

• transfer of funds to legal entities (payment for utilities, purchase of goods, etc.); obtaining and repaying loans;
• receiving remuneration from the employer and other persons;
• storing funds on deposits.

The main limitation that a personal account has is the impossibility of using it to conduct business activities, with the exception of transactions for the transfer of taxes and other obligatory payments.

At the same time, legal entities and individual entrepreneurs can also open a personal account with a banking organization. But such accounts are not used for settlements with counterparties for services rendered or goods sold. Most often, they are created to transfer wages to employees, as well as when receiving loans. Using a personal account, a company receives credit funds and makes loan payments.

Differences between personal and current accounts

So, the main difference between the two types of accounts that customers open in banks is as follows:

• unlike a current account, a personal account does not allow for monetary transactions to conduct commercial activities;
• used only for expenses not related to business activities: payment for mobile communications, housing and communal services, opening deposits and replenishing them, purchasing currency, obtaining credit funds, issuing wages, and so on.

A current account, unlike a personal account, has the following characteristics:

• used exclusively for conducting business activities (making payments, receiving payment for services rendered or goods sold on a regular basis);
• provides the owner with the opportunity to carry out payment transactions from other bank accounts;
• opens only to legal entities and entrepreneurs;
• if necessary, can be used to store funds, which is a function of a personal account;
• Current accounts are opened for clients only in banks. In contrast, personal identification cards can be opened at mobile operators, insurance companies, etc.

Some entrepreneurs and legal entities open personal accounts and try to use them to conduct commercial activities, but this is extremely difficult to do. Banks have the authority to monitor the transactions of their clients, and if they detect regular receipts and payments on a personal account that indicate commercial activity, financial institutions can block such transactions and terminate relations with such clients.

The desire to use personal accounts is due to the fact that they differ from settlement accounts in lower service rates and the simplified nature of working with cash. However, at present, banks very strictly monitor the circulation of cash and the correctness of cash transactions by enterprises, since this function is prescribed to them by law. Therefore, in addition to terminating cooperation, banks can also report suspicious transactions to the tax authorities, which is fraught with administrative and criminal liability for their clients.

Thus, it is recommended to use different banking services in different situations and take into account the differences between personal and current accounts. Legal entities and entrepreneurs should open current accounts to carry out their activities; personal accounts can be used to transfer salaries to employees or obtain a bank loan. Individuals can use facials to complete all transactions. Moreover, in both cases there is the possibility of remote servicing for them to complete the necessary operations (making payments, opening deposits, receiving rewards, and so on). Violation of agreements with banks in order to save money or gain additional opportunities can lead to significant losses.