How to open the sub-account

How to open the sub-account

The sub-account represents correspondent account which opens for bank or the credit organization in other credit organization or in division of the Central bank Russian Federation. These accounts actually do not differ from settlement accounts of legal entities and individuals. They are used for implementation of calculations which are made by one credit organization at the expense of another or on its assignment.

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Write the application on opening of the sub-account. It is made out according to the form 0401027 approved in the Appendix 32 Provisions of the Central Bank of Russia No. 2-P of October 3, 2002 "About clearing settlements in the Russian Federation". Specify the name of division of the Central bank Russian Federation or other bank of the country, and also full name of branch of your credit organization.

Specify a request for opening of correspondent account. Certify the document the signature of the chief accountant and director, and also the press of the enterprise. Under the statement there is a place in which it will be noted by the second party about permission of opening of the sub-account and its number.

Collect a package of documents which is enclosed to the application: certified copy of the license for performance of bank operations; certified copy of constituent documents; letter of the Central Bank of the Russian Federation on confirmation of approval of candidates for the chief accountant and director; certificate on registration; the certified card with samples of the signature of the director and chief accountant and an impress of a seal.

If the sub-account opens on branch, also prepare the certified copy of the message of the Central Bank of the Russian Federation that the branch is brought in the Book of the state registration of the credit organizations and serial number is assigned to it; certified copy of Provision on branch; and also the original of the power of attorney which is issued to the head of branch on opening of the sub-account.

Sign the correspondent contract for opening of the sub-account after receive the positive decision on your statement. All calculations and operations between the credit organizations have to be performed according to this contract.