home » Well pumps » Cashless payments are accepted. Payment method by bank transfer

Cashless payments are accepted. Payment method by bank transfer

Cashless payments- these are settlements (payments) carried out without the use of cash, through the transfer of funds to accounts in credit institutions and offsets of mutual claims. Non-cash payments are of great economic importance in accelerating the turnover of funds, reducing the cash required for circulation, and reducing distribution costs; organizing cash payments using non-cash money is much preferable to cash payments. The widespread use of non-cash payments is facilitated by an extensive network of banks, as well as the state’s interest in their development, both for the above reason and for the purpose of studying and regulating macroeconomic processes.

In the Russian Federation, the Central Bank has established the following types of non-cash payments:

Settlements by payment orders

Settlements under letters of credit

Payments by checks

Payments for collection

Calculations by payment requests

Payment order- this is an order of the account owner (payer) to the bank servicing him, documented by a payment document, to transfer a certain amount of money to the recipient’s account opened in this or another bank. Payment orders can be in paper or electronic form.

Typically, a payment order is drawn up in four copies: the 1st copy is intended for the payer, the 2nd - for the payer's bank, the 3rd and 4th are transferred to the recipient's bank. Payment orders are accepted by the bank regardless of the availability of funds in the payer's account, but are executed only if there are sufficient funds on it.

Payment orders can be used to transfer funds:

for goods supplied, work performed, services rendered, for advance payment of goods, work, services, or for making periodic payments;

to budgets of all levels and to extra-budgetary funds;

for the purpose of returning/placing credits (loans)/deposits and paying interest on them;

for other purposes provided for by law or agreement.

After the bank employee checks the correctness of filling out and processing payment orders on all copies (except the last one) accepted for execution of payment orders, in the “Receipt of payments to the bank” field, the responsible executive of the bank enters the date of receipt of the payment order by the bank.

The last copy of the payment order, in which the bank’s stamp, the date of receipt of the payment order and the signature of the responsible executor are affixed in the “Bank Marks” field. The bank that has accepted the payer's payment order is obliged to transfer the specified amount of money to the recipient's bank for crediting it to the account of the person specified in the order. If necessary, the bank has the right to attract other banks to perform operations to transfer funds to the account specified in the client’s order. The bank is obliged, at the request of the payer, to inform him about the execution of the order.

Letter of Credit- this is a conditional monetary obligation accepted by the bank on behalf of the applicant (payer under the letter of credit), to make a payment in favor of the recipient of funds under the letter of credit, the amount specified in the letter of credit upon submission of documents by the latter to the bank in accordance with the terms of the letter of credit within the terms specified in the text of the letter of credit, or to pay , accept or honor a bill of exchange, or authorize another bank (executing bank) to make such payments or pay, accept or honor a bill of exchange).

A security containing an unconditional order from the drawer to the bank to pay the amount specified in it to the check holder. The drawer is a person who has funds in the bank, which he has the right to dispose of by issuing checks, the check holder is the person in whose favor the check was issued, the payer is the bank in which the drawer's funds are located.

The drawer does not have the right to revoke a check before the expiration of the established period for presenting it for payment.

There are cash checks and settlement checks. Cash checks are used to pay the holder of the check cash in the bank, for example, for wages, household needs, travel expenses, etc.

Payment checks- these are checks used for non-cash payments, this is a document of the established form containing an unconditional written order from the drawer to his bank to transfer a certain amount of money from his account to the account of the recipient of the funds. Check acceptance- this is a mark indicating the consent of the payer’s bank to transfer the amount specified in the check to the recipient’s account.

Collection- an intermediary banking operation for the transfer of funds from the payer to the recipient through a bank with the transfer of these funds to the recipient’s account. Banks charge commissions for performing collections.

Collection- a banking settlement operation through which the bank, on behalf of its client, receives, on the basis of settlement documents, funds due to the client from the payer for goods and materials shipped to the payer and services provided and credits these funds to the client’s bank account.

Collection can be clean and documentary.

Clean collection is the collection of financial documents (bills of exchange, promissory notes, checks and other similar documents used to receive payments) when they are not accompanied by commercial documents.

Documentary collection- this is the collection of financial documents accompanied by commercial documents (invoices, transport and insurance documents, etc.), as well as the collection of only commercial documents. Documentary collection in international trade is the obligation of the bank to receive, on behalf of the exporter, from the importer the amount of payment under the contract against the transfer of commodity documents to the latter and transfer it to the exporter.

Disadvantages of the collection form of payment: 1) The time gap between the shipment of goods, the transfer of documents to the bank and the receipt of payment, which can be quite long, which slows down the turnover of the exporter’s funds; 2) Lack of reliability in payment for documents (may refuse to pay for trade documents or become insolvent by the time they arrive at the importer’s bank). These disadvantages are overcome by using telegraphic collection, which reduces the unwanted time gap, as well as by using collection with a pre-issued bank guarantee, which makes it possible to create payment security close to that which arises under irrevocable letters of credit.

Payment request(colloquially “payment”) is a payment document containing a demand from the creditor (supplier) to the debtor (payer) to pay a certain amount of money through the bank.

To settle a payment request, the payer's acceptance is required. However, in certain cases (if this is stipulated in the agreement between the payer and the recipient or if such a case is stipulated in the law), it is possible to make payments without acceptance.

Acceptance- the response of the person to whom the offer is addressed about its acceptance. Acceptance - consent to payment. According to Russian law, acceptance must be complete and unconditional (acceptance of an offer on different terms is recognized as a new offer).

Cashless payments - what does it look like in practice? Despite the fact that they are regularly talked about, many nuances remain beyond the scope of conversation. We will discuss them further in the article.

Payment forms

Not so long ago, it was considered common to carry a significant portion of available cash in wallets. Now this has become irrelevant. The reason is mainly due to the proliferation of bank cards. With their help, you can manage all your available money, and there is no need to carry banknotes with you.

Non-cash transfers have made it possible to make payments between participants in economic transactions without the use of paper money.

Cashless payments - how is it from a business point of view? Businessmen have previously used accounts with credit institutions to make payments among themselves. However, there was the use of paper documentation.

Businessmen, and ordinary citizens, are now freed from the need to complete a large amount of documentation to manage their accounts. It is enough to make a few clicks with a computer mouse to make deductions. All account transactions are carried out in the office or at home using a computer.

There are also other, non-electronic forms of payment, no matter how common.

Despite the differences, they are all united by one thing - the exception of the need to carry paper money. This is of particular importance for enterprises.

Why is it convenient?

Banking services cost some money, but, nevertheless, citizens and organizations still resort to them. And the following features contribute to the fact that payment by bank transfer is so attractive:

Comfort. Access to money is provided throughout the entire day on any day (weekend or weekday).
Speed of the operation. A few keystrokes or PC buttons are all that is needed to carry out the operation.
Documentation is generated electronically.
Credit institutions store information about completed transactions without restrictions, thereby creating a kind of archive that can be accessed at any time.
Saving money (banks offer preferences to clients who use electronic payment forms and reporting methods).

The listed advantages mainly concern methods that work using electronic technologies.

Legislative regulation

The organization of non-cash payments is regulated by the following acts:

Civil Code - contains the basic provisions of the legislation on non-cash payments, describes the procedures and conditions for the responsibility of the parties.
Law “On Banks and Banking Activities”.
Law “On the National Payment System”.
Regulations on the issue of payment cards.
Other federal laws and regulations adopted by the Central Bank as a regulator of financial activities.

Based on legislative acts, banks develop their own rules for the provision of services. From a legal point of view, they have the status of transactions, the provisions of which can be challenged in arbitration or general court, depending on who the client is.

Forms of non-cash payments

Let's clarify once again, non-cash payments - how is it? There are several forms of it, some of them are directly stated in the law, others exist within the framework of general regulatory norms, in particular, electronic money. Non-cash payments are carried out by:

letter of credit;
collection settlements;
issuing a check;
payment order;
in other ways not provided for, but also not prohibited by law.

Letters of Credit

A letter of credit is a payment for goods or services or a transfer of funds on behalf of a client. What is the essence of non-cash payments? The operation is carried out at the expense of the client, for the purpose of which the required amount is blocked in the account. A loan may be issued against the payment.

A letter of credit comes in two forms - revocable and irrevocable. In the first case, the bank making payments has the right to change the conditions for their implementation at its discretion and, in particular, to revoke it. By law, it is considered revocable unless the contract with the client indicates otherwise.

The bank accepting the payment, unlike the recipient of the money, must be notified in advance of a change in the terms of payment or refusal by the bank making the payment.

An irrevocable payment confirmed by the bank sending the money cannot be canceled without the consent of the receiving bank, nor can its terms be changed.

The executing bank has the right to make payment at its own expense, having previously received evidence of the recipient's compliance with the terms of the letter of credit. The bank, which is responsible for sending payments, is obliged to reimburse all expenses to the executing bank.

Payments for collection

When making collection payments, the bank, on the contrary, undertakes to accept payment in favor of the client. Postings may be provided through another bank at the discretion of the institution that has undertaken to accept payments.

Payments by checks

A check is a security on the basis of which payment is made from the account of the person who issued it. There are no additional conditions for receiving funds.

The check is presented to the bank where the drawer has an account. Money can be debited from it on the basis of checks, in accordance with the agreement with the bank. The check details are as follows:

the title of the document must include “check”;
an order to pay a specific amount with a currency designation;
information about the payer, recipient and account from which the payment should be made;
date and place of drawing up of the check;
signature of the check writer.

The absence of one of these points makes it invalid. The employee accepting the said security is obliged to verify its authenticity and the authority of the person presenting it.

Cashless payments - what does it look like with checks? Their issuance can be made to a specific person; in this case, the transfer of rights is prohibited, since the issuance of a check may imply the transfer of rights.

Payment may be guaranteed by a bank or other person in whole or in part. The guarantee mark is made by the guaranteeing person.

Payment order

The next method of non-cash payments is an agreement between the bank and the client. The bank undertakes to transfer the amount specified in the document to the recipient's account. The translation period is specified either in the order or in the contract. Today this method of transfer is the most common. Moreover, it is easier than others to completely transfer it to an electronic document management system.

An application for a money transfer can be made by a person who does not have a bank account, unless there are restrictions in the law or bank rules.

Some nuances of calculations

Banks have the right to postpone a payment or refuse to post it if there are doubts about its legality and the lack of authority of the person requiring the payment. The absence of a complete set of documents and inaccuracies in the same payment orders give the right to suspend the operation.

If another bank is involved in the transaction, its representatives also have the right to express their doubts and request additional information to clarify the transfer data.

The legislation gives significant freedom to banks in terms of establishing their own rules for non-cash payments.

If the client suffers losses, in particular, by transferring money to a person who did not have rights to it, or there were unreasonable delays in payments, the bank is obliged to compensate for the damage. The guilt of the financial organization and the owner of the money will certainly become clear.

Other forms of payment

Another form of payment is direct debit. The debit is made from an account that has sufficient funds, at the request of another person. The bank that opened the account withdraws money from the account in accordance with the agreement with the client.

This form fits the above described forms of non-cash payments in Russia. And it makes no sense to single it out from a legislative point of view. Banks offer other combined methods, which in one way or another are derived from those prescribed in civil legislation.

It is impossible not to pay attention to electronic payment systems.

Electronic money

Webmoney and Yandex Money are the most famous electronic payment systems. They are not banking institutions and successfully occupy a significant part of the non-cash payments market, providing the lion's share of e-commerce in the country.

Formally, neither the first nor the second organization is engaged in issuing money, but the equivalents they issue completely replace them. Competitors also offer plastic cards, but they are issued by Mastercard and Visa payment systems. The only difference is that such a card is linked to a Webmoney wallet.

Sales system and non-cash payments

Non-cash payment facilitates participation in trade transactions. For example, the parties to a transaction may be located in different parts of the world; now this is not a hindrance.

How are cashless sales organized? An entrepreneur or commercial organization providing services and goods indicates a bank account or electronic wallet details to which clients transfer money. A range of the largest banks or payment systems is offered.

Clients select one of the offered payment methods. Electronic wallets of payment systems are convenient because transfers between them are carried out instantly.

The same cannot be said about non-cash payments by banks. The only exception is transfers between private accounts. In this case, replenishing your account or making a transfer takes a few minutes.

In addition, special programs are provided for individuals that make it possible to quickly debit funds from their accounts as payments. An SMS message is sent to your mobile phone number asking you to confirm the payment. Confirmation is done by sending a new message from the client number.

Non-cash payments by banks in the case of legal entities take much longer. This is due to the need to ensure control over the legality of money transfers and the limitations of the bank's operating system.

A non-cash payment method is settlements without using cash, i.e., transferring a certain amount from one bank account of a credit institution to another. Banks act as intermediaries in settlements. This type of calculation has obvious advantages.

Every modern entrepreneur is well aware of all the currently existing systems for working with finances, the main and most common ones in practice, among which are payments by bank transfer or in cash.

If everything is clear with payment for purchased goods and products, then when considering the so-called non-cash system, many questions arise. Let's carefully study this methodology and determine its positive and negative sides, which will ultimately allow us to draw a conclusion and prefer the most attractive system for each individual enterprise, company or individual entrepreneur.

And so, between individuals and legal entities it involves the implementation of certain payments when there is no need to use cash. In other words, the entire operation takes place on the basis of the transfer of a specific amount from one account of a credit company to another, which becomes possible after the presentation of mutual demands between the participants in this type of transaction.

In this case, banks and other financial organizations authorized to carry out this type of activity become intermediaries between the participants in a previously concluded transaction. The thing is that it is on their accounts that the transfer of payments provided for by the non-cash payment system actually takes place.

Among the positive properties of this system, modern experts highlight the possibility of accelerating working capital, significantly reducing and reducing the cash that is necessary to make payments between two or more organizations participating in a particular transaction.

It is worth noting that this system is currently the most preferable for domestic enterprises, companies and even individual entrepreneurs operating in our state.

The legislation of the Russian Federation states that payments between legal entities, regardless of their number, as well as when individual citizens act as payers, must be made in the form of non-cash payments. All this is necessary in order to facilitate the algorithm for making transactions and paying for goods and services received. However, there are also some restrictions, according to which the maximum cash payment between organizations should not exceed 60 thousand rubles.

In all other cases, companies must use a non-cash payment system, which is very convenient and can significantly reduce all kinds of risks of losing money due to the raid of robbers or the tricks of fraudsters.

Now it is necessary to get acquainted with the types of non-cash payments, which are currently very actively used in Russian reality. Among them, the most popular at the moment and the most widely used by domestic business representatives are considered to be settlements by payment orders, under a letter of credit, when using special checks or within the framework of a collection program, as well as upon presentation of a payment request.

To implement this type of payment, companies must use special payment orders, letters of credit of the established form, well-known checks throughout the world, as well as demands and instructions.

At the same time, every entrepreneur and manager of an individual company must keep in mind that the period for making payments using the non-cash payment system cannot last more than two business days within the territory of one subject of the Russian Federation and five days, if the area and space of the entire state is taken into account .

Positive qualities of cashless payments

According to modern experts, non-cash payments have many advantages compared to paying for goods and services in cash. Thus, this system is distinguished by the flexibility of settlements, as a result of which a whole range of transactions can be serviced, involving various additional payments and recalculations.

Along with this, many domestic entrepreneurs note the possibility of quickly checking the receipt of funds to the company’s current account, when there is no doubt about the second party to the transaction fulfilling its obligations to pay for the materials received. In addition, the system of non-cash payments between legal entities eliminates the possibility of fraud by third parties who intend to secretly take possession of other people's assets and financial resources.

Moreover, it is absolutely impossible to pay with so-called dolls and counterfeit banknotes, because every bank has a serious security system, protection and verification of all financial assets with which employees of this organization work. In addition, companies using a non-cash payment system can significantly reduce the costs associated with transporting cash, storing and checking it, since all this falls on the shoulders of the bank, whose client is the enterprise or individual entrepreneur.

Along with all the above listed criteria and positive qualities, this possibility of making payments between legal entities does not impose on participants in this kind of relationship any restrictions on the period of storage of funds in bank accounts, which is very convenient in modern conditions of general instability.

By the way, many companies give their preference to non-cash payments for the simple reason that there is no need to use a cash register in everyday work, its maintenance and training of specialists in how to use it.

Moreover, all funds that passed through the cash desk must be transferred to the bank within three days, except for money that will go to salaries of employees of the company, enterprise or firm. All this imposes the need for additional efforts, actions and the search for additional time, which a company employee authorized to carry out all these operations must find in his schedule, often being distracted from more important matters.

LLC on OSNO, produces its own products and sells them, works only by bank transfer with LLC or individual entrepreneur. Sales of products to individuals and documentation are in the article.

Question: We are an OSNO LLC, we produce our own products and sell them, we work only by bank transfer with the LLC or individual entrepreneur. Can we accept payment for products to a bank account from an individual, and do we need to send a check to the cash register? At the moment we do not have a cash register. How should an individual make a payment in order to avoid using a cash register? if we can accept payment from an individual and not punch a check, then until what period can we do this, until 01/01/2019? or more?

Answer: LLC has the right to accept non-cash payments from individuals. faces. The use of cash register in this case depends on whether the payment was made using an electronic means of payment or without. Electronic means of payment include payment cards, the client-bank system, and electronic wallets.

If an individual pays with a card at a bank, with a card through a terminal at a bank, or pays through an online bank, then these are payments by electronic means of payment, and the company is not exempt from using cash register systems. There is no deferment until July 2019. You will need to generate a check no later than the day following the day of settlement, but no later than the moment the goods are transferred.

From July 1, 2019, more organizations and individual entrepreneurs must use CCP. A convenient table will help you understand whether your company needs to use cash registers.

But if a physicist pays in cash through an operator or in cash through a terminal at a bank, then the seller should not punch the check. The deferment is valid until 07/01/2019. This is not an electronic means of payment, but a regular non-cash payment.

In order to understand how physical. the person who paid needs to understand the statement, or find out about the payment method from the buyer himself. To avoid this, you can punch checks for all receipts from individuals into your current account. The inspectorate will not fine you for extra checks.

Rationale

New changes in Law No. 54-FZ: how to take them into account in your work

Change 1. A cash register is required for all non-cash payments

The requirement for which payment methods must be used is changed. The law introduced the concept of “non-cash payment procedure”. Before the amendments, the law required the use of cash register systems only for cash payments and non-cash payments using electronic means of payment (EPP). The definition of ESP is in the Law of June 27, 2011 No. 161-FZ “On the National Payment System”. This is for example:
– bank card;
– any electronic wallets;
– online bank, etc.

Since July 3, 2018, the law requires the use of cash register systems for any method of non-cash payment. For example, when paying by receipt or payment order through a bank. But additional checks will need to be punched only from July 1, 2019. Non-cash payments, except electronic means, were exempted from cash register until July 1, 2019.

Answers to frequently asked questions

Is it now necessary to use cash register systems for non-cash payments with individuals?

Yes need. From July 1, 2018, it is necessary to use cash register systems, but only when making payments using electronic means of payment. For example, when paying through electronic wallets and online banking. For new non-cash payment methods there is a deferment until July 1, 2019. That is, when paying receipts and payment orders through an operator at a bank, cash register will need to be used only from July 1, 2019.

Is it necessary to use cash register systems for non-cash payments with organizations and individual entrepreneurs?

No, for non-cash payments with organizations and individual entrepreneurs, it is not necessary to use cash register systems in principle. An exception is settlements with the presentation of an electronic means of payment. For example, when making payments using a card. If payments are made through the Client-Bank system, then cash register is not required. This is a non-cash payment without presenting an electronic means of payment. Similarly, a cash register is not needed if the payment goes to the individual entrepreneur’s savings book.

Change 2. We clarified in which calculations to use CCP

The law expanded the concept of “settlements”. In particular, it now includes:
– accepting interactive bets;
– receipt and payment of prepayments or advances, their offset or return;
– provision and repayment of loans to pay for goods, works, services;
– provision or receipt of other consideration for goods, work, services.

When offsetting or returning advances and prepayments, as well as providing or receiving other counter-provisions, the CCP may not be used until July 1, 2019. A similar deferment was given for providing loans to pay for goods, work, and services.

Answers to frequently asked questions

Is cash register necessary when issuing reports and salaries?

Need not. The issuance of accountable money or wages to an employee is not related to payments for goods, works and services.

Should the buyer use cash register when paying in cash?

When both the seller and the buyer are an organization or individual entrepreneur and payment is made in cash or by presenting, for example, a corporate card, it is enough for one party to use the cash register. It would be logical for this to be the seller.

Should I use cash register if I received an erroneous payment?

No, payment is not related to the receipt and payment of funds for goods, work and services. There is no need to reflect the received amount as sales. But if you took it into account as a sale, run checks for receipt and return, and the payment itself must be returned.

Change 5. The date of issue of the check for non-cash payments has been determined

In the previous version of the law there was only a requirement to punch the check at the time of settlement. There were also clarifications from the Ministry of Finance and the Federal Tax Service that the check must be punched at the moment when the bank notified the seller about the execution of the payment.

The new law clearly defines at what point to generate a cash receipt for non-cash payments, except for payments on the Internet, and hand over the receipt to the buyer. The check must be punched before the delivery of the goods, but no later than the next business day after payment. For more details on when to hand over the check to the buyer, see the table below.

Situation	Deadline for handing over the check to the buyer
Buyer has provided payments for goods, works and services	The check must be sent electronically at the time the check is generated
Buyer did not provide email address or subscriber number when payments for goods	A paper receipt must be sent along with the goods.
Buyer did not provide email address or subscriber number when payments for work, services	A paper check must be sent to the buyer at his first direct interaction with the seller

What is changing. The law clarified that the seller does not use the cash register if another company or individual entrepreneur pays him by bank transfer. There is an exception to this rule. The check will have to be punched if the buyer - a company or businessman - uses an “electronic means of payment with presentation” for payments (Clause 9, Article 2 of Law No. 54?FZ as amended by Federal Law dated 07/03/2018 No. 192-FZ).

How to interpret the amendments. First, let's understand what an electronic means of payment is. By law, this is a means that allows the client to draw up, certify and transfer a payment using the Internet, electronic media, including payment cards and other technical devices (Clause 19, Article 3 of the Federal Law of June 27, 2011 No. 161? FZ). The Central Bank explained that electronic means of payment include payment cards and the “client-bank” system (Information of the Bank of Russia “Answers to questions related to the application of certain provisions of Law No. 161?FZ, letter of the Bank of Russia dated 02.05.2012 No. 14 -27/270). Thus, if a firm pays through a client-bank, it does not actually present such electronic means to the merchant. But if an accountable person of another company pays with a card - personal or corporate, by applying it to the POS terminal, then the seller is obliged to punch a cash receipt with the “receipt” sign. The accountant will attach this check to the advance report when he reports to his place of work.

If you give your employee accountable cash or card so that he can buy materials from another company, then you do not need to issue a receipt for the expense. This was confirmed to us by a Federal Tax Service specialist.

What is changing. The law clarified that companies can refuse checks until 07/01/2019 if the physicist pays by bank transfer, but there is an exception to this rule - payments using an electronic means of payment. You will need to generate a check no later than the day following the day of settlement, but no later than the moment the goods are transferred.

How to interpret the amendments. In Change 1 we already figured out what electronic means are. If an individual pays with a card at a bank, with a card through a terminal at a bank, or pays through an online bank, then these are payments by electronic means of payment, and the company is not exempt from using cash register systems. But if a physicist pays in cash through an operator or in cash through a terminal at a bank, then the seller should not punch the check.

At the same time, the accountant cannot understand from the bank statement how the buyer paid. We analyzed the corresponding account and the name of the payment in the bank statements to understand how the individual paid for the services. If the first five digits in the correspondent account are 40817, it means that the client paid from his account through online banking (see sample statement below). In this case, CCT is required. But if the first five digits in the account number are 30233, then it is impossible to understand what kind of calculations these are. As bankers told us, these can be payments either in cash or by card. Thus, the accountant cannot find out how the client paid unless the buyer himself reports it. Therefore, in order not to run into fines, it is safer to buy a cash register now. And in order not to have to understand the statement, you can punch checks for all receipts from individuals into the current account. The inspectorate will not fine you for extra checks.

If the client has provided a phone number or e-mail before settlement, the company will send a cash receipt to this number or e-mail address. If the client did not provide contact information or the organization does not have the technical ability to transfer the receipt by email or mobile phone, then a paper receipt must be issued along with the goods.

Alexander Sorokin answers,

Deputy Head of the Operational Control Department of the Federal Tax Service of Russia

“Cash payment systems should be used only in cases where the seller provides the buyer, including its employees, with a deferment or installment plan for payment for its goods, work, and services. It is these cases, according to the Federal Tax Service, that relate to the provision and repayment of a loan to pay for goods, work, and services. If an organization issues a cash loan, receives a repayment of such a loan, or itself receives and repays a loan, do not use the cash register. When exactly you need to punch a check, look at

Cashless payments - these are settlements (payments) carried out without the use of cash, through the transfer of funds to accounts in credit institutions and offsets of mutual claims. Non-cash payments are of great economic importance in accelerating the turnover of funds, reducing the cash required for circulation, and reducing distribution costs; organizing cash payments using non-cash money is much preferable to cash payments. The widespread use of non-cash payments is facilitated by an extensive network of banks, as well as the state’s interest in their development, both for the above reason and for the purpose of studying and regulating macroeconomic processes.

In the Russian Federation, the Central Bank has established the following types of non-cash payments:

Settlements by payment orders
Settlements under letters of credit
Payments by checks
Payments for collection
Calculations by payment requests

Payment order - this is an order of the account owner (payer) to the bank servicing it, documented in a payment document, to transfer a certain amount of money to the recipient’s account opened in this or another bank. Payment orders can be in paper or electronic form.

Payment orders can be used to transfer funds:

for goods supplied, work performed, services rendered, for advance payment of goods, work, services, or for making periodic payments;
to budgets of all levels and to extra-budgetary funds;
for the purpose of returning/placing credits (loans)/deposits and paying interest on them;
for other purposes provided for by law or agreement.

Letter of Credit - this is a conditional monetary obligation accepted by the bank on behalf of the applicant (payer under the letter of credit), to make a payment in favor of the recipient of funds under the letter of credit, the amount specified in the letter of credit upon submission of documents by the latter to the bank in accordance with the terms of the letter of credit within the terms specified in the text of the letter of credit, or to pay , accept or honor a bill of exchange, or authorize another bank (executing bank) to make such payments or pay, accept or honor a bill of exchange).

Example: Company A wants to buy a bag of cement from Company B. However, company A does not want to pay money immediately to company B, worrying about its unreliability. She goes to the Bank and says: “Bank, I want to pay company B for a bag of cement, you reserve the money, but transfer it only when company B supplies me with my cement.” This conversation in writing is called a Letter of Credit. The bank agrees, transfers the money to company A to a special account, and when company B provides documents indicating that the delivery has been made, transfers this money to it.

Advantages of this form of non-cash payments: guarantee of payment to the supplier; control over compliance with delivery terms and letter of credit terms by banks; As a rule, funds are not diverted from economic circulation.

Flaws: complex document flow; high bank commissions.

Check - a security containing an unconditional order from the drawer to the bank to pay the amount specified in it to the check holder. The drawer is a person who has funds in the bank, which he has the right to dispose of by issuing checks, the check holder is the person in whose favor the check was issued, the payer is the bank in which the drawer's funds are located.

The drawer does not have the right to revoke a check before the expiration of the established period for presenting it for payment.

There are cash checks and settlement checks. Cash checks are used to pay the holder of the check cash in the bank, for example, for wages, household needs, travel expenses, etc.

Settlement checks are checks used for non-cash payments; they are a document of the established form containing an unconditional written order from the drawer to his bank to transfer a certain amount of money from his account to the account of the recipient of the funds. Check acceptance- this is a mark indicating the consent of the payer’s bank to transfer the amount specified in the check to the recipient’s account.

Collection - an intermediary banking operation for the transfer of funds from the payer to the recipient through a bank with the transfer of these funds to the recipient’s account. Banks charge commissions for performing collections.

Collection- a banking settlement operation through which the bank, on behalf of its client, receives, on the basis of settlement documents, funds due to the client from the payer for goods and materials shipped to the payer and services provided and credits these funds to the client’s bank account.

Collection can be clean and documentary.

Disadvantages of the collection form of payment: 1) The time gap between the shipment of goods, the transfer of documents to the bank and the receipt of payment, which can be quite long, which slows down the turnover of the exporter’s funds; 2) Lack of reliability in payment for documents (may refuse to pay for trade documents or become insolvent by the time they arrive at the importer’s bank). These disadvantages are overcome by using telegraphic collection, which reduces the unwanted time gap, as well as by using collection with a pre-issued bank guarantee, which makes it possible to create payment security close to that which arises under irrevocable letters of credit.

Payment request (colloquially “payment”) is a payment document containing a demand from the creditor (supplier) to the debtor (payer) to pay a certain amount of money through the bank.

Offer- an offer (written or oral) from one person to another specific person or persons to conclude a civil contract.

According to Russian law, the offer must:

be sufficiently specific, that is, everything should be clear and unambiguous.
express the person’s intention to enter into an agreement with the addressee;
contain all the essential terms of the contract or the procedure for determining them.

7) Clearing(English) clearing- exempt) - non-cash payments between countries, companies, enterprises for goods supplied, sold to each other, securities and services provided, carried out through mutual offset, based on the terms of the balance of payments.

Clearing is a financial transaction procedure in which a clearing entity acts as an intermediary, and assumes the role of buyer and seller in a given transaction in order to secure orders between the two parties. This practice is usually used in international trade between enterprises. In another way, such transactions are also called compensation transactions.

Clearing is also used in banking to "clear" mutual obligations, often working on a cyclical basis, and banks often use clearing houses to perform these functions. In this case, clearing acts as a form of non-cash bilateral or multilateral settlements in the payment system.

The basis of clearing can also be trade agreements, which are signed with the aim of balancing the value in turnover and defining the quantity and type of goods, as well as payment agreements, which establish the conditions for making payments between partners. Payment in cash can only be made between two partners. It equalizes the balance sheet difference in the final balance of the parties as bilateral or multilateral obligations that are a consequence of civil law, public law, or mixed agreements.

Type