How to prepare documents for opening an account in the payment system
The payment system is used to transfer non-cash funds from one subject to another. There are many similar systems, and each user can choose the most suitable one independently, taking into account the specifics of the company.
Opening accounts in the banking system is especially important now - registration in the system is carried out quickly and easily, the payment procedure is prompt, customers are treated more loyally in comparison with banking organizations.
What is the payment system used for
The features of payment systems are that they do not issue loans, do not accept deposits, and do not carry out a number of other procedures that can be carried out by banks. However, the procedure of opening an account in the payment system is often faster and easier than in a bank.
For what purposes can the payment system be used:
• Receiving and sending transfers;
• Payment for goods and services;
• Registration of payment cards;
• Request an expense report;
• Currency conversion.
Opening an account in the payment system is important for those who plan to receive and send payments in different currencies from countries, including companies that accept payments through the site, as merchant accounts are offered by payment systems.
Advantages of the banking system:
• Ability to control the account;
• The possibility of remote operations;
• Ability to work with multiple currencies;
• Fast registration;
• The convenience of use.
Nowadays, most banks do more thorough customer checks, which can last a long period. In this regard, working with banks is more difficult. The payment system is a licensed online banking option, with the help of which you can perform various financial transactions.
Nuances of opening an account in the payment system
To open an account in the payment system, you will need to collect a number of documents. These include forms for opening an account, as well as information about the applicant, copies of his passports. In addition, corporate documents are required, as well as bylaws and financial statements.
Stages of opening an account:
• Preparation of required documentation;
• Payment of services for registration of the application;
• Opening an account with a positive decision;
• Verification in the system.
One of the account options is a merchant account. Its advantages are efficiency, security, lack of currency control, speed of transfer of funds. To open such an account you will need to provide a description of the company’s activities, corporate documentation, and personal information about the applicant.
To get answers to your questions regarding opening accounts, contact our IT-OFFSHORE specialists. We will provide qualified advice and help with the choice of the payment system.