How to withdraw money from the settlement account of IP: bank explanations
Opening an IP and doing business using this legal form does not require special preparation from the entrepreneur, however, the withdrawal of profits and cash withdrawals can cause problems for beginning businessmen. VestaBank Deputy Chairman of the Board Alexey Fedorov spoke about how much money and for how long it can be withdrawn from the settlement account of an individual entrepreneur.If you briefly answer the question of how to withdraw money from the account of an individual entrepreneur, then we can say in one word: “no way.” Especially when it comes to sufficiently large amounts of cash. In this case, banks regard such an operation solely as cashing out funds. However, you can still withdraw certain amounts of money without any obstacles from the bank.
From your IP
Banks control customers’ cash flows and fight against cashing out funds under the close supervision of the Bank of Russia and Rosfinmonitoring. The position of the regulator on this issue is becoming tougher every year, so no relief from banks for individual entrepreneurs is expected in the coming years.
To combat the withdrawal and money laundering, banks evaluate the ability of individual entrepreneurs to earn a certain amount of money with their labor. Based on this, limits on cash withdrawals from a current account are usually set. In most banks for private entrepreneurs, they amount to about 100 thousand rubles per day. In this case, money can be withdrawn for a reasonable commission. After exceeding this threshold, most banks impose withdrawal fees.
Like a private person
If you need a large amount, there is another way – to transfer funds from the settlement account of the IP to the personal account of an individual. In general, this method is the most convenient and safe, and the limit in this case can be increased up to 500 thousand rubles per day. This is the maximum that banks offer today.
Thus, none of the methods allows you to withdraw millions of rubles per day from an individual entrepreneur’s bank account.
How to use large amounts of funds in the account of an individual entrepreneur? Many people forget about such a simple opportunity as paying expenses. To do this, you can use both cashless payments and a corporate card. Do not forget about this tool. A lot of payments and services today can be paid directly from the IP account, for example, buying a car, airline tickets, utility bills and so on. Especially if you are working on a simplified tax system. In this case, an individual entrepreneur does not need to prove what expenses were incurred to conduct business. This allows you to make many payments through IP. In this case, the withdrawal of funds from the account is not required.
But if you still need cash, you will have to act within the limits set by banks.