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VTB opens checking accounts for businesses completely online using biometrics

VTB opens checking accounts for businesses completely online using biometrics
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VTB has launched a fully remote settlement account opening for small and medium-sized businesses with identity verification via biometrics. Entrepreneurs can register an individual entrepreneur or an LLC and immediately gain access to banking instruments without visiting a branch. For novice exporters and importers, this reduces the time to start the financial infrastructure for foreign trade operations.

The new scenario is aimed at entrepreneurs who are just registering a business. After online registration of an individual entrepreneur or LLC through the VTB service, the client confirms his identity with biometric data and immediately gets access to the current account - the first account is opened as part of the same digital process.

Business registration through the bank's service and account opening remain free of charge. Sole proprietors and LLC companies with a single participant can apply for documents without paying the state fee.

"We have expanded the account opening scenarios so that entrepreneurs can start working quickly, safely and without visiting the bank immediately after business registration," said Yulia Kopytova, Senior Vice President of VTB, Head of the Department of Analysis, Coordination and Product Development.

After opening an account, an entrepreneur gets access to the VTB Business Platform online banking. Payments are available through it, as well as the connection of banking products and services. The entire journey — from applying for registration to receiving financial instruments — now takes place remotely.

For entrepreneurs working with foreign counterparties, the speed of opening a checking account directly affects the timing of launching foreign trade operations: without a valid account, it is impossible to issue a transaction passport, make an advance payment to a supplier, or receive revenue from a foreign buyer. Eliminating the need for a personal visit to the bank reduces this gap to a few hours from the moment of state registration.

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