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How to open an account at a bank?

Throughout the world, circulation of cash will soon become outdated, with all financial transactions to be carried out on a non-cash basis, which means that you cannot do without opening a bank account. To learn how to do this easily and quickly, please read our article.


How to open a personal account?

It is advisable to decide first why you need an account. As an individual, you may open an unlimited number of accounts at any banks of the country, except for the National Bank. 

You may open:

  1. current accounts – these are used usually to keep and transfer funds as well as for card transactions;
  2. savings accounts – these are the deposits at which funds are stored with interest accrued.

Accounts are opened and maintained in both tenge and foreign currency.

When creating an account, a bank assigns an individual identification code (IIC), which is a 20-digit bank account number of the bank's customer.


What documents are needed to open an account?

Residents of the Republic of Kazakhstan may simply provide their IDs. Non-residents are also required to provide a copy of the certificate of registration of a non-resident as a taxpayer.
After these documents are submitted, your bank manager draws up a Contract, which should describe all the conditions of holding and repayment of funds, the size of bank fees, and procedure for termination of the contract. Read all the terms carefully before signing the Contract.


Account for receiving public welfare payments

In this case, in addition to your ID, you must also provide your bank with an application in which you are expected to specify the purpose of the current account - accrual of welfare benefits paid from the state budget/social payments from the State Social Insurance Fund.


How to open an account in the name of another person?

List of documents that individuals need to provide to the bank:

  1. notarized power of attorney providing an authority to open and/or manage an account (parents and legal representatives of a client – guardians, trustees, foster carers – are not required to have such a power of attorney);
  2. birth certificate (for underage clients under the age of 16);
  3. account holder’s document of identification.
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