Do I need a bank account for an individual entrepreneur and where to open one quickly?

If you are an individual planning to become an entrepreneur, of course, in addition to official registration, you need a bank account, which you will register with the tax office and from which you will deduct a certain percentage of the profit corresponding to your group to the state budget.

Very fast open a sole proprietorship account you can at Rife Bank. You don't have to specifically go to the branch of the financial institution, just leave an application on its official website.

Watch the video instructions on how to quickly open an account for an individual entrepreneur online at Rife Bank:

What documents are needed 

To open a business account online, you need to provide a very small package of documents: Certificate of registration of an individual entrepreneur, TIN and passport.

For greater efficiency, Rife will ask you to register on the public services portal "Diya" and help you generate a qualified electronic signature, which you will need constantly.

What accounts can I open at Rife?

In addition to the hryvnia, you can open an account in euros or dollars. Or you can have both at once. According to the tariff package for business, you have the right to do this. Moreover, the bank opens all three accounts free of charge.

You will be able to manage them, as well as all account transactions, in Raiffeisen Online internet banking. Fresh information from the interbank market appears there every day. Thus, you will always know what is happening today. euro to hryvnia exchange rate or dollar. If necessary, you can quickly buy or exchange the desired currency directly in the application without wild commissions.

What else can I expect as a sole proprietor? 

Any business, regardless of its direction, involves the sale of goods or services. Given the current trend towards the use of bank cards, you will have to connect a contactless payment service.

You can apply for acquiring immediately after registering an account, but first determine which one you need. If your business does not involve scale, at the start it will be suitable android payment terminal in a smartphone. The algorithm for accepting client payments here is very simple.

After signing the service agreement, you will have the right to download and install a specially developed application by Rife on your phone with an Android operating system and version no lower than 8.0 (these support NFC technology).

In it, you create a fiscal receipt for payment, show it to the client, he applies his device (smartphone or smartwatch) with a bank card tied to Google Pay or Apple Pay, and in a second you both hear a characteristic signal that the transaction was successful. You immediately send the paid receipt to the client's email or to any of the messengers he specifies. That's it.

How much does such acquiring cost?

Since using such a service does not require special equipment, which would have to be rented from the bank and paid a monthly fee, or purchased by the bank itself, the financial institution charges only a 1,3% commission on each check for its services.

The bank provides a special application for free. Given the cost of your products and the likely customer flow, the conditions are quite adequate even for a microbusiness. So don't put off your success for a long time.