When you sign up on open.money & complete your KYC, you get your own Open Business account. 

The Open business account is not a replacement for a current account. The differences between an Open business account  and a regular bank account are as follows -

 

 

Open business account 

Current account

Online payment collection

Yes

Yes

Do payout to any account

Yes

Yes

Do transactions from an

offline bank branch

No

Yes

Issue cheques

No

Yes

Bank statements

No

Yes

You can do transactions, reconciliation, and accounting of these transactions - all from your Open business account.