Best banks for the self-employed in 2024

Opening an account

It is not recommended to use a personal account for receiving money from clients. Although there is no strict statutory rule against this, the Central Bank of the Russian Federation has issued certain recommendations.

The self-employed should open dedicated accounts for business purposes or use a personal account exclusively to receive payments. This will simplify income tracking and help avoid unnecessary scrutiny from the tax authority. Most often, opening an account is part of a bundled service package provided to self-employed citizens upon registration. 

If a client decides not to open a separate account, they must notify the bank of their status. Otherwise, the credit institution may block access to the account due to suspicious transactions. 

A self-employed person can open multiple accounts with different banks. This is usually done for the convenience of clients who want to transfer payments without commission fees.

What a self-employed person should consider when choosing a bank

If a client wants to register as self-employed through a bank, they need to choose an institution that offers this service. 

The official website of the Federal Tax Service of Russia lists the following organizations: 

• Alfa-Bank; 
• Sberbank;
• AK Bars Bank;
• JSC Bank KUB;
• LLC BLANK BANK;
• LLC Bank 131;
• PJSC TKB Bank;
• VTB;
• MTS Bank;
• Sovcombank;
• T-Bank;
• Bank Levoberezhny; 
• RNKB;
• Solidarnost;
• KS Bank;
• Bank Sinara; 
• Modulbank; 
• Primsotsbank; 
• Rosselkhozbank;
• RNCO YooMoney;
• JSC CB ENERGOTRANSBANK;
• RNCO United Settlement Chamber;
• RNCO United Kassa;
• PJSC AKB AVANGARD;
• Bank Morskoy;
• Bank Akcept. 

You can view the full list of banks offering registration for the self-employed and payment of the professional income tax at link.

To benefit from such cooperation, a potential client should review the terms offered. Many banks offer preferential lending conditions to the self-employed or regularly award bonuses. 

Banks for the self-employed in 2024

Although banks offer similar products and services, the terms may vary across different institutions. In the competition for clients, credit institutions are developing lines of specialized credit products, so it is best to choose a financial institution for your self-employed activities while considering potential bonuses. 

Today, self-employed individuals can open an income-receiving account at more than 20 banks. We present the 7 best offers for your attention. 

Sberbank

Sberbank offers the "Svoe Delo" free service package, which allows you to:

• issue a digital card;
• quickly generate receipts directly within the Sberbank Online service;
• use educational platforms;
• keep records using the calendar app;
• pay taxes;
• receive legal consultations; 
• download document templates for free.

This commercial bank is one of the best adapted to the needs of the self-employed. It provides many free services. 

Alfa-Bank

Alfa-Bank offers online registration followed by access to the following features: 

• 24/7 operator support for various inquiries; 
• a service for generating additional income — the savings Alfa-Account; 
• automatic receipt generation; 
• receiving tax payment reminders. 

MTS Bank

The bank provides numerous bonuses to its clients, namely: 

• free issuance of the #YASAM virtual card; 
• accrual of interest on the account balance; 
• the "New MTS Bank" mobile app with a special section for the self-employed, where you can not only generate receipts but also calculate taxes in advance. 

To register as self-employed or deregister, you do not need to visit any institutions — all of this can be done in the mobile app. 

T-Bank

T-Bank offers great conditions. Self-employment registration takes place in a modern online mobile app, which allows you to generate receipts and pay taxes. 

When opening a Tinkoff Black card, self-employed individuals can count on separate bonuses: 

• accrual of annual interest on the account balance; 
• cashback paid in rubles; 
• free cash withdrawals at ATMs; 
• free transfers via the Faster Payments System. 

Also, T-Bank provides 24/7 customer support by phone and in chat. 

All credit and financial institutions listed by the Federal Tax Service make it possible to register as self-employed and generate receipts for the tax office. Other features are bank initiatives that help them attract new clients. Financial organizations often offer maintenance discounts, preferential lending terms, higher deposit rates, and assistance with tax calculations and payments. When choosing a bank for self-employment registration, you should pay attention to these additional features, since basic functions are always provided.