home The buildings What is a cashless payment? Means of non-cash payments. Bank transfer If bank transfer

What is a cashless payment? Means of non-cash payments. Bank transfer If bank transfer

The development of technology has an impact on all spheres of human life. To a greater extent, these changes are positive, such as, for example, cashless payments - it is convenient, fast and safe. How is this system set up? What are its pros and cons? About this and much more - in the article.

Right

In the Russian Federation, the system of cashless payments is the sphere of competence of financial and civil law. Cashless payments are regulated by 3 regulations:

The Civil Code of the Russian Federation, where Chapter 46 "Settlements" contains the necessary information about this type of payment.
Regulations on the rules for the transfer of funds and the Regulations on the issuance of payment cards approved by the Bank of Russia. They consider the forms, the procedure for conducting cashless payments in the Russian Federation and the requirements for payment documents.

Members

The organization of cashless payments is designed in such a way that its participants can make payments without spending a lot of time.

According to the above documents, the participants of non-cash payments can be:

individuals;
legal entities;
entrepreneurs;
the shops;
other institutions.

Participants in a cashless settlement after conducting monetary transactions receive settlement documents confirming the fact of the transaction. They contain the following required information:

account details and BIC of the recipient of the transfer;
name of the payer's bank;
TIN of the owner of the account from which the funds will be debited;
name and account number of the credit institution.

concept

Based on the content of the above documents, it can be noted that a cashless payment is a calculation that is made without the use of cash through the transfer of money from the payer's bank account to the recipient's bank account. This type of payment is available to everyone - individuals and legal entities, entrepreneurs. But the payment process is possible only in banks and credit institutions licensed to carry out such operations.

Principles

Cashless payment is a system that is based on certain principles. Their observance ensures the order and safety of payments by bank transfer. So, the organization of cashless payments is based on the principle:

Acceptance, which requires the mandatory consent or notification of the account holder to debit money from the account. Even requests from state bodies are subject to this rule.
Urgency, which implies the existence of a time frame established by the payer, during which funds must be debited. If they are violated, then the bank is responsible.
Freedom of choice, which implies the possibility for participants to choose the form of payment.
Legality, which implies the obligatory compliance of all ongoing operations with current legislation.
The principle of liquidity, which implies maintaining the necessary amount on the account for uninterrupted payments.
Control, which implies the need to control the correctness of ongoing transactions and compliance with the established provisions on the procedure for conducting cashless payments.
Liability, which implies the existence of material or non-material liability for non-compliance with the terms of the contract between the participants in the transaction.

Forms

Forms of non-cash payments are transfers or payments through:

payment request and order;
direct debit;
electronic money;
letter of credit;
checkbooks;
collection.

A payment request is a request by the recipient of funds (creditor) to pay a certain amount through the bank for the delivered goods, work performed or services rendered.

Direct debit is the debiting of funds from the payer's account in favor of the recipient of funds (creditor), provided that the payer has provided the bank with a payment order that contains information to whom, when and in what amount the funds are required to be paid.

Electronic money is a virtual replacement for cash, which can be paid through an electronic wallet with Internet access.

A letter of credit settlement is a settlement under a letter of credit (instruction) of the payer, which indicates the amount and terms of payment for the recipient of funds.

A checkbook is a brochure consisting of 25 or 50 sheets - checks, each of which contains information about the payer - the holder of the book. One sheet, signed by the payer, allows you to receive the amount indicated on it to the account of the recipient of funds.

Collection - a bank service, according to which he undertakes to transfer a payment from the payer's account to the recipient's account without the participation of the latter, but in the presence of an order and other necessary documents.

Kinds

Cashless payment is a type of payment that has practically no boundaries and time, since in this way you can pay for goods and services in one country, and be in another, not to mention the city. Based on this fact, all types of cashless payments can be:

Non-commodity, which include payment for utilities, education in an educational institution, consultations and treatment in a medical institution and other similar services.
Commodity, which include payment for things intended for exchange for money or other products and services: raw materials, materials, finished products.
Interstate, which include settlements between the payer and the recipient of funds, correspondent accounts of which are located in different countries.
Intra-republican, which include settlements between the payer and the recipient of funds, whose accounts are located in the same federal district.
Guaranteed, in which the payment amount is reserved on the payer's account and transferred to the recipient of funds after he fulfills his obligations to the payer.
Non-guaranteed, which include payments that are not documented.
Instant, which includes a payment made at the time of purchasing a product or receiving a service.
Deferred, in which payment for goods or services is made after the time specified in the contract, and not immediately. This form of payment includes a loan, installment plan, mortgage.

Ways

Non-cash payment methods can be contact and contactless:

payments by bank cards through the POS terminal;
payments using NFS technologies using a smartphone;
transfer of funds from the card using PayPass and Pay Wave technologies;
services provided by Internet banking;
payment through card details using Internet access;
transferring money through online wallets using terminals.

Payment

Cashless payment is a transfer of funds from one correspondent account to another, which reflects information about the sender, recipient, transfer amount and the name of the product or service. If the seller fails to fulfill its obligations to the buyer, the amount will be returned to the client minus the commission of the banking system.

According to legal documents, payment by bank transfer is based on the following principles:

all transactions must be carried out on the basis of an agreement between the bank and the owner of the correspondent account;
payment is transferred from one correspondent account to another only if there is sufficient amount for payment;
transactions are carried out in turn;
participants of cashless payments have the right to choose any of the available forms of cashless payments, regardless of the scope of their activities;
Participants of non-cash settlement have the right to dispose of available funds at their own discretion.

Refund

Goods or services purchased by bank transfer may be of inadequate quality. In this case, the client has the right to return the money spent. To confirm the purchase or purchase of the service, the client must provide a receipt, passport (or other identity document) and a warranty card to the store or organization. If the service or purchase was made online, the client sends the scanned documents via mail to the address of the company's warehouse. The seller either exchanges the goods for the one that the buyer needs, or returns the money to his bank account.

But the client is not always right, since the seller of a product or service has the right to refuse to return the money spent. Such cases include:

the product is food and is of good quality;
the product is non-replaceable and cannot be returned;
documents on the transfer of money to the seller's account are lost;
The item has been used and is out of stock.

Advantages

Cashless payments are already a proven payment method that has earned the trust of users due to its undeniable advantages. These include:

a flexible system allows you to make both one and several transactions in the form of a “chain” with the possibility of additional payment;
there is no need for a cash desk and, therefore, you can save on its maintenance;
provability of non-cash payments, as it is possible to obtain the necessary bank documents if necessary;
funds can be kept on bank accounts for an unlimited time;
security, as there is no possibility of fraudulent actions using counterfeit money;
reduced distribution costs;
the need to transfer cash to the bank within three days after their receipt at the cash desk saves time, since there is no need for additional transactions with the bank.

Flaws

Despite the large number of advantages of cashless payments, this method of payment for services has a number of disadvantages:

the banking system, like any other, is not immune from interruptions in work, which can lead to problems when transferring money or withdrawing money from an account;
constant interaction with the bank leads to additional and possibly mandatory payments.

This method of payment may not be profitable for start-up entrepreneurs, as it requires a regular cash flow to pay salaries to employees and pay for bank services.

When organizing cash and non-cash settlements with buyers and customers, it is necessary to take into account the rules for conducting cash transactions for cash payments, and the cash settlement limit between legal entities, and the procedure for conducting non-cash settlements. The rules and practice of their application are in this article.

Accounting for cash and non-cash settlements with buyers and customers

In relations with clients, cash and non-cash payments are possible. You are obliged to give the buyer the right to choose the form of payment - cash or bank transfer.

You have the right to accept payments only in a form convenient for you, if the revenue without VAT or the book value of the company's assets for the past year amounted to no more than 60 million rubles.

In all other cases, it is necessary to provide for the possibility of accepting payments in various forms. Including, you will need to work with plastic cards.

When choosing a cash register, look at the presence of the function of accepting cashless payments in the device.

It is convenient to keep records of settlements with buyers and customers through the Business.Ru automation program. When trading using cash registers, data on each cash and non-cash cash transaction is automatically received from cash registers (POS terminals or fiscal registrars) and accumulated in the program, providing an up-to-date picture of sales.

In the case of non-cash settlements under agreements, the entire history of settlements with a specific counterparty is reflected on a separate page. You can track the general status of calculations directly from the main page of the automation program, and if you wish, you can detail the information on the positions you are interested in.

The program also generates settlement reports in a form convenient for you, which allow you to track the status of receivables.

Organization of non-cash payments

Non-cash payments are distinguished by the fact that neither side of such cash settlements sees real money. All payments are made through a bank.

When making non-cash payments, the order of payment is observed. If there is not much money in your bank account, the bank will transfer funds for obligations in order of priority for payment.

The accountant puts it in the appropriate field of the payment. You cannot influence the order of payment in any way - it is established by law and looks like this:

the first stage - compensation for harm to life and health and payment of alimony;
the second stage - severance pay and royalties;
the third stage - salary and settlements with the state on taxes and contributions (mainly overdue);
the fourth turn - payments under other executive documents;
fifth priority - all other payments, including current taxes and contributions.

The bank processes documents of one queue in the order in which payments are received. In general, no matter how much you want, say, to pay off the loan as soon as possible, keep in mind that the salary of employees will still be more important for the bank.

The forms of non-cash payments are selected by the client of the bank (that is, you) from the general available list, which is approved by the Bank of Russia. In case of non-cash settlements with the buyer, the form of settlements is prescribed in the contract.

Non-cash settlements also include the organization of payments in a retail store using payment cards. When accepting a card payment from a buyer, you must issue him a cash receipt, and if you work without cash registers, then the appropriate strict reporting form.

Try the Business.Ru online cash register with the ability to work both with stand-alone bank terminals and with the connection of the terminal to the program. Create discount and bonus cards in the system and remotely control the work of the store.

In addition, the terminal for accepting bank cards issues a receipt (slip check). One copy remains for you (the cashier), the second one is given to the buyer.

If a slip check requires a customer's signature, your employees must ask the customer to sign. To do this, each workplace of the cashier must have a pen.

If you have a large percentage of card payments and want to surround your customers with comfort and care, also offer them special substrates with a flat surface, which are more convenient to sign on than on the free surface of the cash register or on the counter.

Cash settlements with buyers in 2020

Cash payments are made by "live" banknotes and coins, without the participation of banks. For cash settlements with customers, cash registers are used.

In addition to accepting cash payments from individuals in retail, cash settlements between legal entities are also possible. That is, in principle, you can accept cash payments from legal entities.

However, keep in mind the current limit for cash payments between legal entities. Now it is 100 thousand rubles.

In the case of cash payment, you are obliged to issue a cash receipt to the buyer. If you have the right to work without a cash register, instead of a cash receipt, you issue the corresponding BSO.

However, the individual buyer may ask you for additional supporting documents. In this case, you are dealing with an accountable person who, in this sale and purchase relationship, does not represent himself, but his company.

Cash and non-cash payments in 2020

Therefore, there is again a restriction on cash payments between legal entities.

In this case, the limit does not apply to the amount of one payment, but to all settlements under the same contract. Even if payments under one contract are spaced apart in time and are made in parts, all the same, the total amount of cash that you have the right to accept from a particular client-legal entity under this transaction should not exceed 100 thousand rubles.

For example, this applies to the payment of goods in installments or payments under lease agreements.

According to the current legislation, cash from the cash desk can be spent only for certain purposes. In this regard, there may be difficulties with the return of money to the buyer when processing the return of goods.

If the client paid for the purchase in cash, you have the right to return the money to him also in cash. If the buyer paid with a card, it is prohibited to give him cash from the cash desk upon return.

This will be regarded as a violation of cash discipline. In this case, the refund must be transferred to the client's bank account.

Read more about calculations:

In this article, your attention will be presented to all the main methods of payment by bank transfer.

Cashless payment rules

Since the year 2012, new laws have come into force regulating the rules for cashless payments. Before carrying out operations, we advise you to familiarize yourself with them.

Cashless payment is a payment that is carried out without cash.

Cashless payments can be made using bills of exchange, checks, and other methods. People use cashless payments in some areas of economic relations. For example, cashless payments are used in the sale of products, various works, services, in obtaining and returning loans from a bank, in the use and payment of actual income.

There are the following forms of non-cash payments:

Settlement by payment orders,
- letter of credit form of payment,
- payments by checks,
- settlements by payment orders and claims
- settlements due to mutual claims.

Organizations themselves choose the forms of non-cash payments. These forms are provided for in the contracts that the organization enters into with the bank. Payers and collectors act as participants in cashless transactions. As well as the banks that serve them. All transactions related to bank accounts are performed only on the basis of the necessary settlement documents.

The billing document is order, which is executed on electronic media or in writing.

There are the following orders:
- payer
- recipient

The requirements for the execution of settlement documents are set out in the regulation of the Central Bank of the Russian Federation.

Types of non-cash payments

Cash settlements can be carried out by the company either in cash or in the form of a non-cash payment.

Non-cash payments are made using non-cash transfers to the settlement, current and currency accounts of bank customers, a system of accounts between different banks, clearing offsets of mutual claims through settlement fees, even with the help of checks and bills that replace cash. Non-cash payments are made mainly through banking, settlement and credit operations. The use of these operations helps to reduce the cost of cash flow and provides a more reliable safety of funds.

Payment by bank transfer

Payment by bank transfer is carried out if there are details of the bank or individual to whom the money needs to be transferred. Payment by bank transfer helps to significantly reduce the time of making payments.

Cashless payment methods:

1) Bank transfer
2) Bank cards
3) Electronic payments ( , WebMoney, [email protected])

Now you know what payment methods are available by bank transfer.

Right

In the Russian Federation, the system of cashless payments is the sphere of competence of financial and civil law. Cashless payments are regulated by 3 regulations:

The Civil Code of the Russian Federation, where Chapter 46 "Settlements" contains the necessary information about this type of payment.
Regulations on the rules for the transfer of funds and the Regulations on the issuance of payment cards approved by the Bank of Russia. They consider the forms, the procedure for conducting cashless payments in the Russian Federation and the requirements for payment documents.

Members

The organization of cashless payments is designed in such a way that its participants can make payments without spending a lot of time.

According to the above documents, the participants of non-cash payments can be:

individuals;
legal entities;
entrepreneurs;
the shops;
other institutions.

Participants in a cashless settlement after conducting monetary transactions receive settlement documents confirming the fact of the transaction. They contain the following required information:

account details and BIC of the recipient of the transfer;
name of the payer's bank;
TIN of the owner of the account from which the funds will be debited;
name and account number of the credit institution.

concept

Based on the content of the above documents, it can be noted that a cashless payment is a calculation that is made without the use of cash by transferring money from the payer's bank account to the recipient's bank account. This type of payment is available to everyone - individuals and legal entities, entrepreneurs. But the payment process is possible only in banks and credit institutions licensed to carry out such operations.

Principles

Acceptance, which requires the mandatory consent or notification of the account holder to debit money from the account. Even requests from state bodies are subject to this rule.
Urgency, which implies the existence of a time frame established by the payer, during which funds must be debited. If they are violated, then the bank is responsible.
Freedom of choice, which implies the possibility for participants to choose the form of payment.
Legality, which implies the obligatory compliance of all ongoing operations with current legislation.
The principle of liquidity, which implies maintaining the necessary amount on the account for uninterrupted payments.
Control, which implies the need to control the correctness of ongoing transactions and compliance with the established provisions on the procedure for conducting cashless payments.
Liability, which implies the existence of material or non-material liability for non-compliance with the terms of the contract between the participants in the transaction.

Forms

Forms of non-cash payments are transfers or payments through:

payment request and order;
direct debit;
electronic money;
letter of credit;
checkbooks;
collection.

A payment request is a request by the recipient of funds (creditor) to pay a certain amount through the bank for the delivered goods, work performed or services rendered.

Electronic money is a virtual replacement for cash, which can be paid through an electronic wallet with Internet access.

A letter of credit settlement is a settlement under a letter of credit (instruction) of the payer, which indicates the amount and terms of payment for the recipient of funds.

Collection is a bank service, according to which it undertakes to transfer a payment from the payer's account to the recipient's account without the participation of the latter, but if there is an order and other necessary documents.

Kinds

Non-commodity, which include payment for utilities, education in an educational institution, consultations and treatment in a medical institution and other similar services.
Commodity, which include payment for things intended for exchange for money or other products and services: raw materials, materials, finished products.
Interstate, which include settlements between the payer and the recipient of funds, correspondent accounts of which are located in different countries.
Intra-republican, which include settlements between the payer and the recipient of funds, whose accounts are located in the same federal district.
Guaranteed, in which the payment amount is reserved on the payer's account and transferred to the recipient of funds after he fulfills his obligations to the payer.
Non-guaranteed, which include payments that are not documented.
Instant, which includes a payment made at the time of purchasing a product or receiving a service.
Deferred, in which payment for goods or services is made after the time specified in the contract, and not immediately. This form of payment includes a loan, installment plan, mortgage.

Ways

Non-cash payment methods can be contact and contactless:

payments by bank cards through the POS terminal;
payments using NFS technologies using a smartphone;
transfer of funds from the card using PayPass and Pay Wave technologies;
services provided by Internet banking;
payment through card details using Internet access;
transferring money through online wallets using terminals.

Payment

According to legal documents, payment by bank transfer is based on the following principles:

all transactions must be carried out on the basis of an agreement between the bank and the owner of the correspondent account;
payment is transferred from one correspondent account to another only if there is sufficient amount for payment;
transactions are carried out in turn;
participants of cashless payments have the right to choose any of the available forms of cashless payments, regardless of the scope of their activities;
Participants of non-cash settlement have the right to dispose of available funds at their own discretion.

Refund

But the client is not always right, since the seller of a product or service has the right to refuse to return the money spent. Such cases include:

the product is food and is of good quality;
the product is non-replaceable and cannot be returned;
documents on the transfer of money to the seller's account are lost;
The item has been used and is out of stock.

Advantages

Cashless payments are already a proven payment method that has earned the trust of users due to its undeniable advantages. These include:

a flexible system allows you to make both one and several transactions in the form of a “chain” with the possibility of additional payment;
there is no need for a cash desk and, therefore, you can save on its maintenance;
provability of non-cash payments, as it is possible to obtain the necessary bank documents if necessary;
funds can be kept on bank accounts for an unlimited time;
security, as there is no possibility of fraudulent actions using counterfeit money;
reduced distribution costs;
the need to transfer cash to the bank within three days after their receipt at the cash desk saves time, since there is no need for additional transactions with the bank.

Flaws

Despite the large number of advantages of cashless payments, this method of payment for services has a number of disadvantages:

the banking system, like any other, is not immune from interruptions in work, which can lead to problems when transferring money or withdrawing money from an account;
constant interaction with the bank leads to additional and possibly mandatory payments.

This method of payment may not be profitable for start-up entrepreneurs, as it requires a regular cash flow to pay salaries to employees and pay for bank services.

2.3. The procedure for the transfer of funds in the Russian Federation

Currently, in the Russian Federation, the procedure for transferring funds is regulated by Bank of Russia Regulation No. 383-P “On the Rules for Transferring Funds”.

The transfer of funds is carried out within the framework of the following forms of cashless payments(see fig. 2.3.1.):

Rice. 2.3.1. Forms of non-cash payments.

Forms of non-cash payments are chosen by bank customers independently and may be provided for by agreements concluded by them with their counterparties.

Bank customers draw up funds transfer orders, on the basis of which funds are transferred. The Bank of Russia used the general term “instructions” to designate all documents on the basis of which credit institutions carry out money transfers. Regulation No. 383-P establishes detailed descriptions and characteristics of the following orders:

- payment order;

- collection order;

– payment request;

- payment order.

The listed forms of orders are used in all forms of non-cash payments. In addition to the four indicated forms of orders, other types of orders may be used in banking practice, for which the Regulations do not establish a list of details and forms. If a credit institution uses “non-standard” orders in its activities, then their forms, details and the procedure for working with them must be approved by the internal documents of the credit institution.

TO settlement (payment) documents, in addition to orders for the transfer of funds, bank warrants also apply.

According to the Bank of Russia, in January-September 2013, 3,242.9 million units were used in Russia. payment documents in the amount of 321,333.4 million rubles, of which 97.2% are payment orders, 0.6% are payment requests and collection orders, 0.0% are checks, and about 2% are bank orders.

Orders can be drawn up both in electronic form (including using electronic means of payment) and on paper. On the basis of the order of the payer, the bank of the payer may draw up an order and carry out a one-time and periodic transfer of funds.

In the money transfer scheme drafters of orders transfer of funds can be:

- payers;

- recipients of funds;

– collectors of funds (i.e. persons or bodies entitled, on the basis of the law, to present orders to the bank accounts of payers);

Legal entities, individual entrepreneurs, individuals, banks act as payers and recipients of funds.

Credit institutions transfer funds in rubles to the bank accounts of their customers, as well as without opening bank accounts on the basis of transfer orders. Banks transfer funds through bank accounts through:

- writing off funds from the bank accounts of payers and crediting funds to the bank accounts of recipients of funds;

- write-offs of funds from the bank accounts of payers and the issuance of cash to recipients of funds - individuals;

- writing off funds from the bank accounts of payers and increasing the balance of electronic funds of recipients of funds.

– Credit institutions transfer funds without opening bank accounts, including using electronic means of payment, through:

- acceptance of cash, instructions of the payer - an individual and crediting of funds to the bank account of the recipient of funds;

- acceptance of cash, instructions of the payer - an individual and the issuance of cash to the recipient of funds - an individual;

- acceptance of cash, instructions of the payer - an individual and increase in the balance of electronic funds of the recipient of funds;

- reducing the balance of the payer's electronic money and crediting funds to the bank account of the recipient of funds;

- reducing the balance of the payer's electronic money and issuing cash to the recipient of funds - an individual;

– decrease in the balance of the payer's electronic money and increase in the balance of the recipient's electronic money.

Let us consider in more detail the forms of non-cash payments.

1. Settlements by payment orders. When making payments by payment orders, the payer's bank undertakes to transfer funds to the payer's bank account or without opening the payer's bank account (for an individual) to the recipient of funds specified in the payer's order.

Schematically, settlements by payment orders can be depicted as follows (see Fig. 2.3.2. and 2.3.3.).

Rice. 2.3.2. Scheme of settlements by payment orders on the bank account of the payer.

Based on the requirements of the regulator arising from Regulation No. 383-P, it is possible to determine when a credit institution uses a settlement (payment) document in the form of a payment order.

Rice. 2.3.3. Scheme of settlements by payment orders without opening a bank account of the payer.

First, legal entities and individuals can give orders to write off funds from their bank accounts, including the transfer of funds from a deposit account. An order can be drawn up for a total amount with a register that includes orders from one priority group on the transfer of funds to several recipients.

Secondly, legal entities can give instructions to make settlements without opening an account, including using electronic payment tools, to transfer electronic funds from a client's bank account to a bank account. Otherwise, a legal entity may submit an electronic order for the transfer of funds, including by means of an electronic money transfer, on the basis of which the bank will draw up a settlement document - a payment order.

In a similar manner, an individual payer gives an order to transfer funds without opening a bank account, which can be drawn up in the form of an application. The form of the instruction to transfer funds without opening a bank account of the payer-individual on paper is established by the credit institution or the recipients of funds in agreement with the bank. It must contain the details of the payer, recipient of funds, banks, the amount of the transfer, the purpose of the payment, and other information as agreed with the bank. Based on the order of the payer-individual, provided in electronic form or on paper, the credit institution draws up a settlement document - a payment order and makes settlements. Based on the instructions of individual payers, a credit institution may draw up a payment order for the total amount and send it to the recipient bank of the register or instructions of individual payers.

Thirdly, the bank itself can act as a payer or recipient of funds. He has the right to independently develop a form of order, on the basis of which a payment order will be drawn up, except for the case when the payer is the bank itself, and the recipient is the bank's client. Then the transfer of funds to the bank account of the client-recipient of funds is carried out by the bank on the basis of a settlement document drawn up by it - a bank order. If the payer is a bank, the transfer of funds to the bank account of the client - recipient of funds can be carried out by the bank on the basis of a bank order drawn up by it.

A payment order as a settlement document performs the function of an order or a settlement document drawn up on the basis of an order for non-cash settlements by payment orders, settlements under a letter of credit, settlements in the form of electronic money transfers.

Note that the payment order is valid for submission to the bank within 10 calendar days from the date of its preparation.

2. Settlements under a letter of credit. When settling under a letter of credit, a bank acting on the order of the payer to open a letter of credit and in accordance with its instructions undertakes to transfer funds to the recipient of funds, provided that the recipient of the funds submits the documents stipulated by the letter of credit and confirming the fulfillment of its other conditions, or authorizes another bank to execute letter of credit.

Thus, the following features of the letter of credit form of payment can be distinguished:

- the recipient of funds, before receiving the money, must fulfill the conditions stipulated by the letter of credit, for example, he must first ship the goods and provide documents confirming the shipment to his bank;

- the recipient of funds before the fulfillment of his part of the contract (for example, before the shipment of the goods) knows that the money for him is deposited with the buyer or there is a bank guarantee in case the buyer fails to fulfill its obligations to transfer funds;

- on the part of the payer, an important condition is the fact that the delivered goods will be of proper quality, in the agreed volume and assortment (for this, it is necessary to indicate in the terms of the letter of credit that the seller must submit certain documents to the bank confirming the quality, quantity and assortment of goods).

The bank acting on the order of the payer to open a letter of credit is called the issuing bank. The executing bank may be the payer's bank, the beneficiary's bank or another bank. The issuing bank has the right to open a letter of credit on its own behalf and at its own expense. In this case, the issuing bank is the payer.

Details and form (on paper) of the letter of credit are established by the bank. The letter of credit must contain the following mandatory information:

– number and date of the letter of credit;

- the amount of the letter of credit;

- details of the payer;

- details of the issuing bank;

- details of the recipient of funds;

– details of the executing bank;

- type of letter of credit;

– validity period of the letter of credit;

– method of execution of the letter of credit;

- a list of documents to be submitted by the recipient of funds, and requirements for the submitted documents;

- purpose of payment;

- deadline for submission of documents;

– the need for confirmation (if any);

- the procedure for paying bank commissions.

The letter of credit may contain other information.

In Russia, the following can be used types of letters of credit.

Covered (deposited) letter of credit. This form of letter of credit is the most common, it provides that the buyer opens an account with a bank (issuing bank) and deposits funds into it in the amount necessary to pay for the letter of credit (or takes them from this bank on credit against collateral). The issuing bank transfers these funds to the correspondent account of the executing bank. When the time comes for the execution of the letter of credit, the executing bank transfers the funds in its correspondent account to the seller's account (see Fig. 2.3.4.).

Rice. 2.3.4. Settlement scheme for a deposited letter of credit.

The executing bank communicates the terms of the letter of credit received from the issuing bank to the recipient of funds. The transfer of funds to the executing bank as coverage for a covered (deposited) letter of credit is carried out by a payment order of the issuing bank indicating information that allows the establishment of a letter of credit, including the date and number of the letter of credit. The recipient of funds can submit documents directly to the issuing bank. Under a covered (deposited) letter of credit, the issuing bank is obliged to request confirmation from the nominated bank that the recipient of funds did not submit documents to the nominated bank, and has the right to demand that the nominated bank return the coverage amount based on a request confirming the submission of documents by the recipient of funds to the issuing bank, and in the case of a confirmed letter of credit, also the execution of the letter of credit by the issuing bank. In this case, the executing bank shall return the coverage amount no later than the business day following the day of receipt of the issuing bank's request. The execution of the letter of credit is carried out by transferring funds by payment order of the executing bank to the bank account of the recipient of funds or by crediting the appropriate amount to the bank account of the recipient of funds in the executing bank. After the execution of the letter of credit, the executing bank sends to the issuing bank a notice of the execution of the letter of credit indicating the amount of execution and attaching the submitted documents no later than three working days after the date of execution of the letter of credit. When it is established that the documents accepted by the executing bank from the recipient of funds do not conform to the terms of the letter of credit, the issuing bank has the right to demand from the executing bank the return of the amounts paid to the recipient of funds at the expense of the coverage transferred to the executing bank (under the covered (deposited) letter of credit), reimbursement of the amounts debited from the correspondent account opened with the executing bank, or refuse to reimburse the executing bank for the amounts paid to the recipient of funds (under an uncovered (guaranteed) letter of credit). When closing a covered (deposited) letter of credit, the return of unused funds to the issuing bank is carried out by a payment order of the executing bank no later than the business day following the day the letter of credit is closed.

Uncovered (guaranteed) letter of credit. The parties may agree to use an uncovered letter of credit. In this case, the issuing bank does not transfer funds to the executing bank, but when the time comes for the execution of the letter of credit, the executing bank writes off the required amount from the account of the issuing bank opened with it to the seller's settlement account. In this case, the buyer's bank guarantees payment to the seller's bank. In turn, the buyer must guarantee payment to the bank by providing security. The advantage of this form of letter of credit for the buyer is that in order to open a letter of credit, it is not required to withdraw own funds from circulation (see Fig. 2.3.5.)

Rice. 2.3.5. Guaranteed letter of credit settlement scheme.

When executing an uncovered (guaranteed) letter of credit, the executing bank has the right not to execute the letter of credit until funds are received from the issuing bank, except for the case of confirmation of the letter of credit by the confirming bank.

irrevocable the letter of credit cannot be canceled at the unilateral application of the buyer without the consent of the seller. Most letters of credit are irrevocable as this ensures the interests of the supplier. The consent of the recipient of funds to change the terms of an irrevocable letter of credit may be expressed by submitting documents corresponding to the amended terms of the letter of credit. The terms of an irrevocable letter of credit are changed or an irrevocable letter of credit is canceled from the day following the day the executing bank receives the application of the recipient of funds with his consent, of which the executing bank notifies the issuing bank no later than three working days from the day the application of the recipient of funds is received.

However, it must be taken into account that if it is not expressly stated that the letter of credit is irrevocable, then it is considered revocable. When executing a revocable letter of credit, the executing bank executes the letter of credit in the full amount and on the current terms of the letter of credit if, before the submission of documents, the recipient of funds did not receive notice from the issuing bank about the cancellation of the letter of credit or changes in other conditions of the letter of credit, in terms of the amount of the letter of credit - upon receipt from the issuing bank notice of reduction in the amount of the letter of credit.

When establishing the compliance of the submitted documents with the terms of the letter of credit, the executing bank executes the letter of credit. The execution of a letter of credit can be carried out by the bank in the following ways:

- immediately upon submission of documents no later than three business days from the date the bank makes a decision on the compliance of the documents submitted by the recipient of the funds with the terms of the letter of credit, but no later than three business days after the expiration of the five-day period established for verification of the submitted documents;

- with a delay in execution on a date (dates) determined by the terms of the letter of credit or a fixed period, starting from the date of certain actions, including the submission of documents, shipment of goods;

– in any other way provided for by the terms of the letter of credit.

When it is established that the submitted documents do not comply with the terms of the letter of credit on external signs, the executing bank has the right to refuse to execute the letter of credit, notifying the recipient of funds and the issuing bank, motivating the refusal. The executing bank may first request the issuing bank for consent to accept the submitted documents with discrepancies. In this case, the documents are stored in the executing bank until a response from the issuing bank is received. If the payer gives the issuing bank consent to accept the submitted documents with discrepancies, the issuing bank has the right to give its consent to the executing bank to execute the letter of credit. If the payer refuses to accept documents with discrepancies, the issuing bank is obliged to notify the executing bank of this, indicating in the notification all discrepancies that are the reason for the refusal.

3. Settlements by collection orders. Collection orders apply:

- in case of collection settlements in cases stipulated by the contract;

- when making settlements on orders of creditors of funds.

The recipient of funds may be a bank, including the payer's bank.

The collection order is drawn up, presented, accepted for execution and executed in electronic form, on paper.

The use of collection orders in settlements for collection is carried out, firstly, if there is a condition in the bank account agreement between the payer and his bank on debiting funds from the bank account, and secondly, the payer submits to the payer's bank information about the recipient of funds who has the right to present collection orders to the bank account of the payer.

The right to submit collection orders to the payer's bank account can be confirmed by the recipient of funds by submitting relevant documents to the payer's bank.

If the recipient of funds is the payer's bank, the condition for debiting funds from the payer's bank account may be provided for by the bank account agreement on the basis of a bank order drawn up by the bank.

The payment scheme for collection orders is shown in Figure 2.3.6.

Rice. 2.3.6. Settlement scheme by collection orders.

The collection order of the recoverer of funds may be presented to the payer's bank through the bank of the recipient of funds. The beneficiary's bank, which has accepted the collection order for the purpose of collecting funds, is obliged to present the collection order to the payer's bank.

A collection order presented through the recipient's bank is valid for presentation to the recipient's bank within 10 calendar days from the date of its preparation.

4. Settlements by checks. This, practically not used today, form of payment in Regulation No. 383-P is given several paragraphs, indicating that a bank that wants to work with them can develop internal rules. The check may contain details determined by the credit institution; the form of the check is established by the credit institution; the credit institution is obliged to verify the authenticity of the check, as well as that the bearer of the check is a person authorized by it; checks of credit institutions are used when transferring funds, except for the transfer of funds by the Bank of Russia. The calculation scheme is shown in Figure 2.3.7.

Note that the check serves as an order, but not a settlement (payment) document. Based on the check presented for payment, the credit institution must form its settlement (payment order) or cash (cash order) document, thereby substantiating the movement of funds.

Rice. 2.3.7. Payments by checks.

5. Settlements in the form of transfer of funds at the request of the recipient of funds (direct debit). When making non-cash payments in the form of transfer of funds at the request of the recipient of funds, a payment request is mainly applied.

If the recipient of funds is a bank (for example, in the case when direct debiting is used to repay the debt of the borrower on a loan in his bank), the debiting of funds from the bank account of the client-payer, if there is a pre-given acceptance of the payer, can be carried out by the bank in accordance with the bank account agreement on the basis of bank order drawn up by the bank (see Fig. 2.3.8.)

The payment request is drawn up, presented, accepted for execution and executed in electronic form, on paper.

A payment request may be submitted to the payer's bank through the beneficiary's bank.

A payment request submitted through the beneficiary's bank is valid for submission to the beneficiary's bank within 10 calendar days from the date of its preparation.

Rice. 2.3.8. Settlements in the form of transfer of funds at the request of the recipient of funds.

6. Electronic money transfers. This form of non-cash payments is regulated by the Federal Law of June 27, 2011 No. 161-FZ “On the National Payment System”.

Banks can make transfers that include various conversions of electronic money into traditional (cash, non-cash) money and vice versa, including:

– money transfers through bank accounts;

– money transfers without opening bank accounts.

In the first case, transfers are made by writing off funds from the bank accounts of payers and increasing the balance of electronic money (EMF) of the recipients of funds.

In the second case - when making transfers without opening bank accounts (with the sender of the payment) - the following options are possible:

a) acceptance of cash, instructions of the payer - an individual and increase in the balance of the recipient's EMF;

b) decrease in the balance of the payer's EMF and crediting of funds to the bank account of the recipient of funds;

c) reducing the balance of the payer's EMF and issuing cash to the recipient of funds - an individual;

d) decrease in the balance of the payer's EMF and increase in the balance of the payee's EMF.

Note that in accordance with Federal Law No. 161-FZ, a bank that makes electronic money transfers is called electronic money operator.

When making non-cash payments in the form of an electronic money transfer, the client provides funds to the electronic money operator on the basis of an agreement concluded with him.

Note that the electronic money operator is not entitled to provide the client with funds to increase the client's electronic money balance. The electronic money operator is not entitled to accrue interest on the client's electronic money balance.

The transfer of electronic money is carried out by simultaneously accepting the client's order by the electronic money operator, reducing the payer's electronic money balance and increasing the recipient's electronic money balance by the amount of the electronic money transfer.

Consider further procedures for acceptance for execution, revocation, return (cancellation) of orders and the procedure for their execution. The procedure for performing such procedures is established by credit institutions and communicated to customers, claimants, credit institutions in contracts, documents explaining the procedure for performing procedures for accepting orders for execution, as well as by posting information at customer service points.

Procedures for accepting orders for execution include:

1) certification of the right to dispose of funds (certification of the right to use an electronic means of payment);

2) control of the integrity of orders;

3) structural control of orders;

4) control of values of details of orders;

5) control of the sufficiency of funds.

Let's explore each of these steps in more detail.

1) Certification of the right to dispose of funds when accepting for execution an order in electronic form, it is carried out by the bank by checking the electronic signature, an analogue of a handwritten signature and (or) codes, passwords. Certification of the right to dispose of funds upon acceptance for execution of an instruction on paper is carried out by the bank by checking the presence and compliance of the handwritten signature and seal imprint with the samples declared to the bank in the signature and seal sample card. When accepting for execution an order of an individual to transfer funds without opening a bank account on paper, the credit institution checks for the presence of a handwritten signature. Certification of the right to use an electronic means of payment is carried out by a credit institution by checking the number, code and (or) other identifier of the electronic means of payment.

2) Control of the integrity of the order in electronic form is carried out by the bank by checking the invariance of the details of the order. The control of the integrity of the order on paper is carried out by the bank by checking the absence of changes (corrections) made in the order. Registration of orders in electronic form, on paper, is carried out in the manner established by the bank, indicating the date of receipt of the order, while the orders of the collectors of funds are subject to mandatory registration.

3) Structural control of disposition in electronic form is carried out by the bank by checking the established details and the maximum number of characters in the details of the order. Structural control of the instruction on paper is carried out by the bank by checking the compliance of the instruction with the established form.

4) Controlling the values of order details is carried out by checking the values of the details of the orders, their admissibility and compliance. Upon receipt of the order of the payer requiring the consent of a third party to dispose of the payer's funds, the payer's bank monitors the presence of the consent of the third party in the manner prescribed by law and the agreement. The consent of a third party to the disposal of the payer's funds may be given in electronic form or on paper in the manner prescribed by the agreement.

Upon receipt of the order of the recipient of funds requiring acceptance the payer's bank, the payer's bank monitors the presence of the payer's pre-given acceptance or, in the absence of the payer's pre-given acceptance, receives the payer's acceptance.

The payer's advance acceptance may be given in an agreement between the payer's bank and the payer and (or) in the form of a separate message or document, including a statement of advance acceptance. In advance, this acceptance must be given before the presentation of the order of the recipient of funds. This acceptance may be given in advance in respect of one or more bank accounts of the payer, one or more recipients of funds, one or more instructions of the recipient of funds.

The payer's acceptance is received by the payer's bank by transmitting the order of the recipient of funds or a notification in electronic form or on paper for acceptance to the payer and receiving acceptance (refusal of acceptance) of the payer with drawing up an application for acceptance (refusal of acceptance) of the payer. The orders of the recipients of funds are placed in the queue of orders pending acceptance.

5) Control of the sufficiency of funds in the bank account of the payer is carried out by the payer's bank upon acceptance for execution of each order repeatedly or once in the manner established by the bank. If there are sufficient funds on the bank account of the payer, the instructions are subject to execution in the sequence of receipt of instructions by the bank, receipt of acceptance from the payer. In case of insufficient funds on the payer's bank account, the instructions are not accepted by the bank for execution and are returned (cancelled), except for:

- instructions on the transfer of funds to the budgets of the budgetary system of the Russian Federation;

– orders of creditors of funds;

– orders accepted by the bank for execution or presented by the bank in accordance with the agreement.

The specified orders accepted for execution are placed by the bank in the queue of orders not executed on time for the execution of orders on time and in the order of priority for debiting funds from a bank account, which are established by the Civil Code of the Russian Federation. If the funds on the account are not enough to satisfy all the claims against it, the funds are debited in the following order (see Fig. 2.3.9.).

The sufficiency of funds under the instructions accepted for execution for the purpose of transferring funds without opening a bank account is determined by the credit institution based on the amount of funds provided by the client.

When carrying out transactions using electronic means of payment, the credit institution of the recipient of funds, in the cases provided for by the agreement, receives the consent of the credit institution of the payer to carry out the transaction using the electronic means of payment. This process is referred to as - authorization. In the event of a positive result of the authorization, the payer's credit institution is obliged to provide funds to the recipient's credit institution in the manner prescribed by the agreement.

In case of a positive result of the procedures for accepting an order for execution in electronic form, the bank accepts the order for execution and sends an electronic notification to the sender of the order about acceptance of the order for execution. If an order is placed in the queue of orders not executed on time in the order and in the notification in electronic form, the bank shall indicate the date of placing the order in the queue. In case of a positive result of the procedures for accepting for execution of an instruction on paper, the bank accepts the instruction for execution, confirms the acceptance of the instruction for execution by setting the date of acceptance for execution, the date of placing the instruction in the queue of instructions not executed on time, the stamp of the bank and the signature of the authorized person of the bank and returns to the sender of the order, a copy of the order in the manner and within the time period stipulated by the agreement, but no later than the business day following the day the order was received by the bank.

Rice. 2.3.9. The sequence of debiting funds in case of insufficiency of funds in the account.

In the event of a positive result of the procedures for accepting for execution of a paper-based instruction submitted for the purpose of transferring funds without opening a bank account, the credit institution shall accept the instruction for execution and, immediately after completing the procedures for accepting the instruction for execution, provide the sender of the instruction with a copy of the instruction on paper or a credit card document. organization on paper, confirming the acceptance of the order for execution, with the date of receipt and the marks of the bank, including the signature of an authorized person of the bank.

In case of a negative result of the procedures for accepting an order for execution in electronic form, the bank does not accept the order for execution and sends the sender of the order an electronic notice of the cancellation of the order, indicating information that allows the sender of the order to identify the order being canceled, the date of its cancellation, as well as the reason for the cancellation, which may be indicated in the form of a code established by the bank and brought to the attention of the sender of the order. In case of a negative result of the procedures for accepting for execution an instruction on paper, transferred for the purpose of transferring funds to a bank account, the bank does not accept the instruction for execution and returns it to the sender of the instruction with the date of return, the bank's mark on the reason for the return, the bank's stamp and the signature of the authorized bank's person no later than the business day following the day the bank receives the instruction. In the event of a negative result of the procedures for accepting for execution of a hard copy instruction submitted for the purpose of transferring funds without opening a bank account, the credit institution shall not accept the instruction for execution and immediately after completing the procedures for accepting the instruction for execution shall return it to the sender of the instruction.

Cancellation of unexecuted orders is carried out by the bank no later than the business day following the day on which the grounds for the cancellation of the order arose, including the receipt of an application for withdrawal.

Order Execution Procedures include:

- execution of orders in the manner established by banks, by debiting funds from the payer's bank account, crediting funds to the recipient's bank account, dispensing cash to the recipient of funds, or recording information on electronic money transfers;

– partial execution of orders;

- confirmation of the execution of orders.

The order of execution procedures orders, including orders for a total amount with registers, is established by credit institutions and communicated to customers, claimants, credit institutions in contracts, documents explaining the procedure for fulfilling order execution procedures, as well as by posting information at customer service points.

The beneficiary's bank establishes the procedure for crediting funds to the beneficiary's bank account, while it is allowed to credit funds to the beneficiary's bank account using two details: the beneficiary's bank account number and other information about the beneficiary.

Partial execution of orders of payers, recipients of funds, including orders for which a partial acceptance of the payer, collectors of funds is given, is carried out by the bank payment order in electronic form or on paper.

A payment order drawn up by a bank for the purpose of partial execution of the order of the recipient of funds, according to which a partial acceptance of the payer was received, if there are insufficient funds on the payer's bank account, it is placed in the queue of orders not executed on time.

When maintaining a queue of orders not executed on time in electronic form, the bank shall ensure the possibility of providing information on the partial execution of the order.

Partial execution of the order of the payer (recipient of funds) in electronic form or on paper, transmitted for the purpose of transferring funds to a bank account, is confirmed in the manner established by the bank, by:

– sending a notice to the payer (recipient of funds) in electronic form indicating the details of the payment order or sending a payment order in electronic form indicating the date of execution;

– submission to the payer (recipient of funds) of a copy of the executed payment order on paper, indicating the date of execution, affixing the stamp of the bank and the signature of the authorized person of the bank.

The execution of an order in electronic form for the purpose of transferring funds through a bank account is confirmed:

- by the payer's bank by sending the payer an electronic notice of the debiting of funds from the payer's bank account indicating the details of the executed order or by sending the executed order in electronic form indicating the date of execution;

– by the beneficiary's bank by sending a notice to the beneficiary of funds on crediting funds to the beneficiary's bank account indicating the details of the executed order or by sending the executed order indicating the date of execution.

Execution of an instruction on paper in order to transfer funds through a bank account is confirmed:

– by the payer's bank by presenting to the payer a copy of the executed order on paper, indicating the date of execution, affixing the bank's stamp and signature of the authorized person of the bank. In this case, the stamp of the payer's bank may simultaneously confirm the acceptance for execution of an instruction on paper and its execution;

– by the beneficiary's bank by presenting to the beneficiary of funds a copy of the executed instruction on paper, indicating the date of execution, affixing the bank's stamp and signature of the authorized person of the bank.

Execution of the client's instruction when performing a transaction using an electronic means of payment is confirmed by the credit institution by sending to the client, in accordance with the procedure established by the agreement, a notice to the credit institution in electronic form or on paper, confirming the execution of the transaction using an electronic means of payment, which must indicate:

– name or other details of the credit institution;

– number, code and (or) other identifier of the electronic means of payment;

- type of operation;

- Date of operation;

- the amount of the transaction;

– the amount of the commission fee, if any;

– identifier of the device when it is used to carry out a transaction using an electronic means of payment.

A notice confirming the execution of a transaction using an electronic means of payment may contain additional information specified by the credit institution.

In conclusion, we note that, according to clause 1.8 of Regulation No. 383-P, credit institutions must approve internal documents containing:

- the procedure for drawing up orders;

– the procedure for performing the procedures for accepting for execution, revocation, return (cancellation) of orders;

- the procedure for the execution of orders;

– other provisions on the organization of activities of credit institutions for the transfer of funds.

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