How to open a business account on favorable terms

Modern entrepreneurs know about all the advantages of cashless payments, but it is necessary for financial transactions to be legal and not to attract the strict gaze of regulatory authorities. That is why you should know how to open a business account on favorable terms, and experts from the WestStein financial service will tell you more about its advantages in this article.

Opening a current account for business and paying for the maintenance of a current account in cooperation with us is affordable and does not take much time. Our clients are provided with constant advice from leading professionals in the banking industry. Qualified managers will not only help you pass verification and prepare the necessary documents, but also take care of informing the consumer. In turn, the WestStein virtual card will become a convenient tool which have virtually no boundaries in terms of operations.

Bank account for business: what should a merchant know about it?

Every entrepreneur (an individual or a legal entity) has the opportunity to open a current account online if they are interested in conducting financial transactions inside and outside the company in a non-cash way. Such a bank account is essential to optimize the company’s processes, for example, to:

• quickly transfer wages to employees to the appropriate cards;
• pay state taxes and contributions;
• pay for renting an office space, for goods (stationery, food) for the team, for services;
• accept payments from suppliers and contractors;
• participate in the tender system;
• make a profit with the help of Internet acquiring, in the case when customers pay for goods or services using a POS-terminal.

That is, it follows from this that a free current account for a business allows a company to operate within the law. At the same time, not only large concerns enjoy the benefits of such account. Even individual entrepreneurs can easily discover its merits.

What is the best current account for business?

 Answering this question, we should highlight the advantages of a current account, which are markers of profitability and accessibility:

• democratic cost of account maintenance and low fixed commission when withdrawing cash from an ATM;
• optimization of the company’s activities for the modern consumer who wants and can pay for goods/services in a non-cash way;
• “purity” in terms of law – to open a current account for free means that the entrepreneur does not hide anything from the supervisory authorities, and moreover, that he/she makes all deductions in a timely manner and in full in order to avoid penalties;
• the ability to make transactions in non-cash and cash ways for large amounts of money.

And the ability to open a business account online is also a huge step towards business digitalization. A merchant can manage the financial side of the issue thanks to Internet banking and is completely independent of a specific place and time.

Opening a current account: an algorithm of actions

The experts of our financial institution assure that the procedure will take extremely little time, while a person can start using the account immediately after verification. So, to become an account owner you need to follow these steps:

1. On the WestStein website, you should find the “Open my account” link, it will redirect you to the registration form.
2. Fill out the proposed questionnaire and go through verification – confirm your phone number and email address.
3. After that, a qualified manager will contact you and announce the list of documents to be submitted. Don’t worry – collecting documents will not take much time.
4. When the package of papers is collected and submitted for consideration, you need to wait a bit and get a response from our employee.
5. After approval of the account, an electronic wallet is immediately available to the client.
6. Next, you need to select the number of cards (plastic and virtual) that will be linked to your account so that there is enough for all trusted employees.
7. Plastic cards arrive at the customer in ten working days.

Just a few steps to take and you are an account owner, a confident entrepreneur who keeps up with the times and banking trends. Our financial company with great pleasure will help you go through this path, and will also become a reliable assistant in solving various financial issues.

With WestStein, accounting and financial issues within your company will be resolved in the best possible way. Our experts guarantee high-quality customer service and regular support – at any time, in a convenient format, in any language.