Settlements by payment orders. Settlements by payment orders are the most commonly used form of payment in property turnover.
14. Payment order - a payment instruction, according to which the sending bank, on behalf of the payer, transfers funds to the receiving bank to the person specified in the order (beneficiary).
The payment order is submitted to the sending bank in the number of copies determined by the sending bank, but not less than two copies, except for the cases specified in this Instruction. The first copy of the payment order is certified with a seal and signatures of the payer's officials according to the signature and seal samples submitted to the bank.
In the case of an internal bank transfer in Belarusian rubles through a settlement system that does not allow transferring all the required details, the client submits three copies of the payment order to the bank. The third copy of the payment order after execution by the sending bank of the payment order is sent to the receiving bank for issuance to the beneficiary.
If it is necessary to confirm the execution by the sending bank of the payer's payment order (when the payer pays the state duty and in other cases), the payer shall submit an additional copy of the payment order to the sending bank. On the reverse side of an additional copy of the payment order, the payer makes a record of the transfer of funds in favor of the beneficiary, indicating the amount of payment (in words), the currency of payment and the name of the beneficiary. In appropriate cases, this entry is made by the payer in the form prescribed by law. After the sending bank executes the payment order, this entry is certified by the signatures of the responsible executor (indicating the date of execution of the payment order), the chief accountant or a person authorized to exercise additional control, and the seal of the sending bank. This copy of the payment order is issued to the payer.
Payment orders are submitted to the sending bank within ten calendar days from the date of their issue (the day of issue is not taken into account).
On the basis of a payment order transmitted electronically, the sending bank generates on paper copies of this payment order in the amount necessary to comply with the requirements of parts two to four of paragraph 14 of this Instruction and the agreement. On all copies of copies of payment orders on paper, before the details containing the name, number, date of the settlement document transmitted in electronic form, the following entry is made: "Copy".
Payment orders or registers of payment orders on paper are submitted to the bank in one copy by customers whose service period is less than a year, in confirmation of payment orders transmitted electronically.
17. The sending bank has the right to accept for execution a permanent payment order of the client, according to which the sending bank undertakes to transfer the payer's funds in favor of the beneficiary within a certain time period, upon receipt of funds to the payer's account or in other cases.
A permanent payment order is drawn up in an arbitrary form or in a form developed by the bank, indicating all the mandatory details provided for payment orders and submitted to the sending bank in one copy.
The payer has the right to make an entry in the permanent payment order instead of the details "amount (in numbers and words)", "name of the transfer currency" about the procedure for determining the transfer amount by the bank; instead of the numbers and dates of the documents serving as the basis for the payment, indicate the procedure and frequency of their submission (receipt) to the bank; provide for other conditions for the execution of a permanent payment order.
The Bank has the right to require the payer to indicate in the permanent payment order clear instructions regarding the procedure for determining the amount of the transfer, the conditions for the execution of the permanent payment order, the validity period or an indication that the permanent payment order is of an unlimited nature.
19. If the payer does not have an account in the transfer currency or sufficient funds in the transfer currency, the payer has the right to give the sending bank a payment order for a transfer with conversion (purchase, sale), in which the requisite "Amount and currency"
22. The sending bank does not accept payer's payment orders for execution in the following cases, if:
22.1. there are corrections and erasures in the payment order;
22.2. mandatory details are not specified in the payment order;
22.3. the payer's signatures and stamp on the payment order do not correspond to the samples submitted to the bank;
22.4. the documents required in accordance with the law are not submitted;
22.5. the data of the payment order do not correspond to the data of the documents submitted to the sending bank in the cases established by law;
22.6. the payer has no legal grounds for making a credit transfer, if the control by the sending bank over the legality of making a credit transfer is established by legislative acts of the Republic of Belarus or regulatory legal acts of the Council of Ministers of the Republic of Belarus, the National Bank of the Republic of Belarus;
22.7. it is impossible to carry out the conversion (purchase, sale) of funds in accordance with the requirements of the law or it is impossible to carry out the conversion (purchase, sale) of the currency according to the specified
23. The sending bank has the right to refuse to accept the payer's payment order for execution if there are no or insufficient funds on the payer's account for the execution of this payment order, unless otherwise provided by the agreement between the bank and the payer.
24. Payment orders not accepted for execution for the indicated reasons are returned by the sending bank to the payer with an indication on the reverse side of the first copies of the reasons for their return.
27. Write-off of funds from the payer's account for the purpose of making a credit transfer under a permanent payment order is issued by a memorial order. In the field "Purpose of payment"
28. On the basis of the payment order submitted by the client, the sending bank sends the payment order to the correspondent bank.
29. Unless otherwise provided by law or an agreement between the client and the sending bank, the payment order:
received at the end of the banking day, is accepted for execution no later than the next banking day;
accepted for execution during a banking day is executed on the same day.
30. Write-off of funds from the payer's account for making a credit transfer on a permanent payment order is not made in the absence or insufficiency of funds on the payer's account and / or, with the exception of transfers carried out on account of urgent needs if there are in the card file to the off-balance account "Settlement documents, not paid on time" unfulfilled settlement documents.
31. If there is a bank agreement with a client to accept payment orders for execution (with the exception of standing orders) in the absence (insufficiency) of funds on the payer's current account, the payment order in the unpaid amount is credited to the off-balance account "Settlement documents not paid on time" and placed in the file cabinet for this account.
In case of partial payment, the amount in which the order is credited to the card file is indicated on the back of all copies of the payment order. The specified record is certified by the signature of the responsible executor.
For partial payment of the order (in case of insufficient funds on the current account), a memorial order is issued. In field
Payments by payment orders are the most commonly used form of payment in property turnover. In some legal relations, the use of this form of payment is a priority. For example, in relations for the supply of goods, the buyer pays for the supplied goods in compliance with the procedure and form of payment provided for in the supply agreement. If the procedure and form of settlements are not determined by agreement of the parties, then settlements are carried out by payment orders (clause 1 of Article 516 of the Civil Code of the Russian Federation).
Payment order- this is a settlement document drawn up by the payer and containing an instruction to the bank to transfer a certain amount of money from his account to the recipient's account.
Clients submit orders to the bank serving them in two copies, and in case of settlements between clients served by one bank - in three. If settlements between banks do not provide for electronic exchange of documents, then four or five copies (for settlements from other cities) are submitted. Payment orders are valid for 10 days from the date of issue.
It is allowed to indicate in the payment order the date of payment transfer. In this case, the bank will not execute the payment order immediately, but upon the appropriate date. The payment order will be placed in Card Index No. 9 “Settlement documents awaiting the date of payment transfer” (account 90909).
Settlements using payment orders are carried out according to the following scheme:
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1 - the payer submits a payment order to the bank;
2 - the payer's bank writes off funds from the payer's account;
3 – the payer's bank sends a payment order to the beneficiary's bank;
4 - the beneficiary's bank credits funds to the beneficiary's account;
5 - banks issue statements from personal accounts to their customers.
The possibilities of using payment orders in settlements are diverse, it can be said with confidence that the considered form of settlement is universal. With the use of payment orders, settlements are made both for commodity and non-commodity transactions.
In settlements for goods and services, payment orders are used when making payments for goods received and services rendered; for payments in the order of advance payment for goods and services; to pay off accounts payable on commodity transactions; when making payments for goods and services by court and arbitration decisions; on rent for premises; payments to transport, communal, household enterprises for maintenance and others.
In settlements for non-commodity transactions, payment orders are used to make payments to budget and extra-budgetary funds, repay bank loans and interest on loans, contribute funds to authorized funds when establishing joint-stock companies, partnerships, etc .; acquisition of shares, bonds, certificates of deposit, bank bills; payment of penalties, fines, penalties, etc.
In addition, the advantages of the form of payment under consideration include: the simplicity of document flow and the technique of carrying out calculations, which speeds up the turnover of working capital, as well as the possibility of preliminary checking the quality of the goods. Settlements using payment orders are the most common form of cashless payments in practice. At present, in Russia, the share of settlements by payment orders in the total amount of non-cash payments is more than 93%.
Settlements for collection
Collection settlements are a banking operation through which the bank, on behalf of and at the expense of the client, on the basis of settlement documents, performs actions to receive payment from the payer. To carry out collection settlements, the bank has the right to involve another bank (executing bank).
Settlements for collection are carried out on the basis of the following documents:
Payment requests with acceptance,
Payment requests without acceptance),
collection orders.
Previously, payment requests-orders were also used.
Payment Request is a settlement document containing the requirement of the recipient of funds to the payer to pay a certain amount of money through the bank. Payment requirements are used in settlements for goods supplied, work performed, services rendered.
Payment requests are presented by the recipient of funds to the payer through the bank serving the recipient of funds. They may be accompanied by commodity-transport or other documents confirming the shipment (release) of goods (performance of work, provision of services), or they are sent directly to the payer's address, indicating the date of dispatch in the payment order. Payment requests do not expire.
The payer is given a certain period (at least 5 days) to accept the payment request. At the indicated time, the documents are in his bank in Card file No. 1 “Settlement documents awaiting consent for payment” (account 90901). On the grounds specified in the main contract, the payer has the right to refuse in whole or in part from the acceptance of payment requests. Full or partial refusal of payment is made out by a statement of refusal of acceptance. When the payer's bank accepts this application, all documents are sent back to the recipient without execution.
The procedure for settlement by payment requests includes the following steps:
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2
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1 - shipment of goods by the recipient and simultaneous transfer of the payment request to the servicing bank;
2 - transfer by the beneficiary's bank to the payer's bank of the payment request together with the shipping documents;
3 - placement by the payer's bank of the payment request together with shipping documents in file cabinet No. 1;
4 - transfer of the payment request to the payer;
4a - in case of refusal, the payer must submit to the bank an application for refusal of acceptance;
5 - on the basis of the documents received and in the absence of refusal to accept the demand, the payer's bank debits the amount of payment from the payer's account;
7 – transfer by the beneficiary's bank of the amount of payment to the beneficiary's account;
8 - notification of the recipient about the transfer of funds.
Without the payer's acceptance, settlements by payment claims are carried out in cases established by law or provided for by the parties under the main agreement, provided that the payer's bank is granted the right to debit funds from the payer's account without his order. Collection orders are used in cases where the indisputable procedure for the collection of funds is established by law and for collection under executive documents.
The disadvantage of this form of payment is the dependence of the recipient of funds on the solvency or consent of the payer to make a payment. Settlements by payment claims are more beneficial for the payer, as they represent some advantages for him: when the last payment request is received, the main obligation of the counterparty has actually been fulfilled, therefore, the risk of non-performance of the contract is minimized, while for the recipient of funds there is a risk of non-payment or payment not being made in in full under the terms of the contract.
At present, in Russia, the share of collection settlements through payment requests and collection orders does not exceed 4%.
Settlements under a letter of credit
Letter of credit represents a conditional monetary obligation accepted by the issuing bank on behalf of the payer, to make payments in favor of the recipient of funds upon presentation of the latter documents that comply with the terms of the letter of credit, or to authorize the executing bank to make such payments.
The subjects of a letter of credit obligation are the payer, the issuing bank, the recipient of funds and, as a rule, the executing bank. The letter of credit is intended for settlements with one recipient of funds. The prerequisite (basis) for the emergence of a letter of credit obligation is the payer's instruction to open a letter of credit, which he gives to the bank serving him (issuing bank). The recipient of funds may refuse to use the letter of credit before its expiration, if the possibility of such refusal is provided for by the terms of the letter of credit.
The procedure for settlements under a letter of credit is established in the agreement, which reflects the following main conditions:
Name of the issuing bank;
Name of the executing bank;
Name of the recipient of funds;
The amount of the letter of credit;
Type of letter of credit;
A complete list and exact description of the documents submitted by the recipient of funds;
Validity period of the letter of credit;
Terms of payment (with or without acceptance).
The execution of the letter of credit is carried out by the executing bank if the recipient of funds presents documents confirming the fulfillment by him of all the conditions of the letter of credit. Violation of at least one of the conditions of the letter of credit should serve as a basis for the executing bank to refuse to execute the letter of credit (Article 870 of the Civil Code of the Russian Federation).
Closing of the letter of credit is carried out by the executing bank on the following grounds: expiration of the letter of credit; an application by the recipient of funds to refuse to use the letter of credit, if such a possibility is provided for by the terms of the letter of credit, and the revocation of the revocable letter of credit by the payer.
The procedure for using a letter of credit includes the following steps:
1 - application for a letter of credit;
2 - write-off of funds from the payer's account;
3 - transfer of funds to the beneficiary's bank;
4 – opening a letter of credit account for the payer;
5 - notification of the recipient about the opening of a letter of credit;
6 - delivery of goods and provision of a register of invoices with the attachment of documents stipulated by the terms of the letter of credit;
7 - transfer of funds from the letter of credit account to the beneficiary's account.
Banks can open the following types of letters of credit:
Covered (deposited) and uncovered (guaranteed);
revocable and irrevocable (can be confirmed);
divisible and indivisible;
with and without acceptance.
When opening a covered (deposited) letter of credit, the issuing bank transfers at the expense of the payer's funds or the credit provided to him the amount of the letter of credit (coverage) at the disposal of the executing bank for the entire period of the letter of credit. When opening an uncovered (guaranteed) letter of credit, the issuing bank grants the executing bank the right to write off funds from its correspondent account within the amount of the letter of credit. The procedure for writing off funds from the correspondent account of the issuing bank under a guaranteed letter of credit is determined by agreement between the banks.
A revocable is a letter of credit that can be changed or canceled by the issuing bank on the basis of a written order of the payer without prior agreement with the recipient of funds and without any obligations of the issuing bank to the recipient of funds after the withdrawal of the letter of credit. Irrevocable is a letter of credit that can be canceled only with the consent of the recipient of funds. At the request of the issuing bank, the nominated bank may confirm an irrevocable letter of credit (confirmed letter of credit). An irrevocable letter of credit confirmed by the nominated bank cannot be changed or canceled without the consent of the nominated bank.
For a divisible letter of credit, payments can be made in several steps, for an indivisible one, the amount is paid only in full. If the terms of the letter of credit provide for acceptance, then the payer can send an authorized representative to the location of the executing bank, who must accept the invoices issued by the supplier. On all copies of the register of accounts, he makes an inscription of acceptance.
The undoubted advantage of the considered form of payment is reliability. A letter of credit is indispensable in the case when the buyer and seller make a one-time transaction and have limited information about the financial condition, solvency and good faith of the counterparty. Thanks to a letter of credit, the seller does not depend on the solvency of the buyer and his willingness to pay, and immediately after the shipment of the goods, he can receive money for him. Naturally, it is in the interests of the supplier (seller) that the letter of credit be covered and irrevocable. As part of the letter of credit form of payment for each of the parties, there are guarantees for the fulfillment of the obligation - the seller is sure that the amount due to him for the delivery of the goods has already been received by the executing bank; the buyer pays for the delivered goods only after the goods are actually delivered to his address.
The disadvantage of this form of payment is: diversion of funds from the buyer's turnover, as he reserves them to pay the supplier's bills before the goods are shipped. In addition, the trade turnover slows down, since the supplier cannot ship finished products before the notification of the opening of a letter of credit and incurs additional costs for its storage.
At present, the scope of application of the letter of credit form of payment in Russia is not wide enough, its share in the structure of non-cash payment forms is relatively small, only about 2%.
Check form of payment
Check- this is a security containing an unconditional order of the drawer of the check to the payer (bank) to pay the amount specified in it to the holder of the check.
A distinctive feature of relations on settlements by checks is their special subject composition. The main participants in relations in check settlements are the check drawer, check holder and payer. The drawer is the person who issued the check; holder of a check - a person who is the owner of the issued check; payer - the bank making the payment against the presented cheque. The law gives the ability to be a check payer exclusively to credit organizations.
The issuance of a check does not extinguish the monetary obligation for which it was issued. The fact is that the check only replaces, but does not eliminate the former debt obligation of the drawer, which remains in force until the payer pays the check. Only from this moment the holder of the check loses the right to claim against the drawer. It is not allowed to withdraw a check before the expiration of the term for presenting it.
The check is paid by the payer at the expense of the drawer's funds. Presenting a check to the bank servicing the holder of the check to receive payment is considered to be presenting the check for payment. The check is valid for 10 days from the date of issue (up to 70 days for international checks).
The check payer is obliged to verify by all means available to him the authenticity of the check, as well as that the check has been presented for payment by a person authorized by it. The responsibility of the drawer and payer in the event of payment of a forged, stolen or lost check is to compensate for the losses incurred as a result of this. They are assigned to the payer or drawer, depending on whose fault they were caused.
Considering the calculations using checks, the order of their implementation can be reflected as follows:
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1 3 5 10
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1 - an application for the issuance of checks with a payment order for the amount of checks attached;
2 - write-off of funds from the payer's account and deposit on a special checking account;
3 - issuance of checks;
4 - exchange of checks for goods;
5 - collection of a check (issuing a check and a register of checks to the bank);
6 - transfer of the check to the issuing bank;
7 - write-off of funds from a checking account;
8 - transfer of funds to the beneficiary's bank;
9 – crediting funds by the beneficiary's bank to the beneficiary's account;
10 - notification of the recipient about the receipt of funds.
In accordance with banking rules in Russia, two types of checks are used:
limited (the payer's funds are deposited on a special account intended only for payment by checks);
Guaranteed (payment by check is made from the payer's current account, and in their absence, at the expense of an overdraft).
The undoubted advantage of a check for the recipient is that the check is a guaranteed form of payment. When receiving a check, the holder of the check is sure that payment will be made. From the point of view of the payer, the advantage of the check is that payment for the goods occurs at the time of receipt. In other words, a check is convenient for settlements in cases where the payer does not want to give money before receiving the goods, and the supplier does not want to transfer the goods before receiving guarantees of payment. In addition, when paying by checks, the supplier can fully protect himself from doubts about the timing of settlement with the buyer and the acceleration of payment. A check is also convenient for settlements in all cases where the seller is initially unknown.
The disadvantage of this form of payment for the payer is the need to deposit funds in the account in order to receive checks, which delays the circulation of money and can lead to financial difficulties. For the recipient, there is a certain risk of receiving a fake check that the bank will not pay.
6.3 Features of interbank settlements
When considering the forms of non-cash payments, the question of how banks conduct settlements among themselves on behalf of clients (interbank settlements) was left aside.
Settlement transactions for the transfer of funds through credit institutions can be carried out using:
1) correspondent accounts opened with the Bank of Russia (centralized settlements);
2) correspondent accounts opened with other credit institutions (direct correspondent relations);
3) accounts of settlement participants opened with settlement non-bank credit institutions (interbank clearing);
4) accounts of interbranch settlements opened within one credit institution (interbranch settlements).
In any case, interbank settlements are carried out in accordance with the law, banking rules and bank account (correspondent account) agreement.
Under correspondent account is understood as a bank account, which reflects the settlements made by one bank on behalf and at the expense of another bank. When concluding a correspondent agreement, the accounts for settlements, the currency of the account, the rules and procedure for transferring funds, the procedure for replenishing the account and other conditions for making payments are determined. Payments on correspondent accounts are made within the balance of funds on the account, or in excess of this balance at the expense of the extended credit (overdraft).
To notify the owner of the correspondent account about the execution of settlement operations, he is sent advice note(from Italian - notice). An advice note is issued as a special document or as a copy of settlement or accounting documents. Advices include or are accompanied by settlement documents that served as the basis for the transaction. The transfer of settlement documents from the sending bank of the payment is allowed both on paper and in electronic form.
When transmitting information on paper, the sending bank of the payment is consolidated payment order, to which copies of settlement documents are attached. An integral part of the consolidated payment order is an inventory of the attached settlement documents. When transmitting information via communication channels, the sending bank of the payment is electronic settlement documents, certified by an electronic digital signature and containing the details necessary for conducting operations on correspondent accounts, as well as all the details of the payers' payment orders.
An account statement serves as confirmation from the executing bank of settlement transactions. The agreement on correspondent relations may provide for the direction of confirmation by the executing bank of the payment to the sending bank on the performance of each settlement transaction.
The most common type of interbank settlements are centralized settlements through the settlement network of the Bank of Russia. The settlement network of the Bank of Russia is understood as a set of bank divisions that have an independent balance sheet and provide settlement and/or cash services to customers and conduct settlement and/or cash transactions on their own behalf.
The settlement network of the Bank of Russia is the most important component of the country's payment system, through which the bulk of funds pass. It includes two Central Operational Departments of the Bank of Russia (OPERA at the Central Bank of Russia), dozens of head cash settlement centers (GRCC), hundreds of district and interdistrict cash settlement centers (RCC), field offices of the Bank of Russia - more than 1300 units in total. All credit organizations and thousands of other clients are served there.
In order to make settlements through the settlement network of the Bank of Russia, a credit institution opens a correspondent account with the RCC. At the same time, a correspondent account agreement is concluded and the necessary documents are submitted. A correspondent sub-account may be opened for a branch of a credit institution at its location.
The correspondent account of the bank, in essence, performs the same functions as the settlement account of the organization, but taking into account the specifics of the bank's activities. This account holds the banks' own funds, through which a wide range of operations are carried out: settlement and cash services for the bank's clientele; transfer and collection of funds on behalf of clients, bank settlements on mandatory payments; operations on interbank loans and deposits; business operations of the bank itself, etc.
All payments from the bank's correspondent account are made within the balance of funds on this account at the beginning of the business day. The normal situation is the presence of a credit balance, which is formed as a result of the excess of receipts to the account over the amount of payments from it. Banks are obliged to ensure timely receipt of funds in their account in the amount necessary for making payments. Otherwise, a debit balance (negative balance) may form on the correspondent account. Essentially, this means that the RCC has credited the bank for the amount of the debit balance. Therefore, the RCC stops further payments from the correspondent account of the bank, and sends all receipts to pay off the debit balance.
In order to identify participants in the settlement network of the Bank of Russia, a system of nine-digit bank identification codes (BIC) is used. The structure of these codes is shown in Table 6.3.1.
Table 6.3.1 The structure of the bank identification code (BIC)
Centralized settlements are carried out mainly through the electronic payment system. The procedure for conducting electronic payments depends on the level of technical equipment of settlement participants, the degree of their integration into the communication channels of the Bank of Russia.
If the technical conditions allow, then the credit institution, on the basis of the payment documents of its customers and for its own operations, prepares an electronic payment document (EPD). The exchange of EPDs between credit institutions and the RCC is carried out in packages that include one or more EPDs. Each package is protected by the sender's electronic digital signature. The credit institution is responsible for the content of the details of the EPD. Debiting funds from the payer's account and crediting these funds to the recipient's account in the subdivisions of the settlement network of the Bank of Russia is carried out programmatically.
The EPD package prepared by the credit institution is transferred to the cash and settlement center using special software and hardware protection means by means of telecommunications or special communications on a magnetic medium. Transfer of payment documents on paper is allowed. In this case, EPDs are generated in the RCC by entering the details of the accepted payment documents.
Upon receipt of the EPD on a magnetic carrier at the RCC, they are checked, and the register of electronic payments is printed in two copies. The first copy is returned to the sender along with the magnetic media. The second copy is registered in the registration log of document packages. The register is an output form containing an inventory of the EPD. It is used as a transaction day document. All EPDs received from credit institutions are placed in an electronic archive and stored for the period specified for the storage of paper documents.
EPDs that have passed the details control are programmatically checked for the possibility of payment from the bank's correspondent account. In the absence of funds on the correspondent account, EPDs are not accepted for execution, which is notified to the bank, or are placed in the intraday queue of deferred payments until the funds are received on the correspondent account.
The EPDs that have passed control are sorted by recipient regions, and an EPD packet is generated for the recipient's RCC. Transmission to RCC-recipients is carried out by means of telecommunications according to the established schedule. The transferred EPDs are placed in a card index to the corresponding account for subsequent matching with confirmations.
Confirmation must be received from the receiving RCC no later than the business day following the dispatch. According to the accepted confirmations, registers of matched electronic payments are formed. A memorial order is issued for the total amount of EPDs matched per day for each RCC recipient, on the basis of which the amounts are recorded.
In the receiving RCC, the received EPD packets are used to check the electronic digital signature, structural control of the EPD packets, logical control of the EPD details, and confirmation packets are created for the RCC senders. Depending on the results of the control, funds are credited to the relevant accounts or prompt identification and elimination of the causes of delays in payments.
Based on the received EPDs, paper copies of the received EPDs are printed out at the receiving RCC or a credit institution (if EPDs are to be transferred by means of telecommunications). Copies of the EPD are issued by the signatures of an accountant and a controller with a stamp and calendar stamp of the date the document was posted to the client's personal account.
As already noted, banks can carry out settlement operations by direct correspondent relations(through correspondent accounts opened with other banks). The relationship of banks in the implementation of such settlement operations are built on the basis of an agreement on correspondent relations. The parties in these relations are called the correspondent bank and the correspondent bank.
Respondent Bank– credit institution (branch) that opened a correspondent account (NOSTRO) to another credit organization. Correspondent bank– credit institution (branch) that opened a correspondent account (LORO) another credit institution and performing operations on this account, stipulated by the agreement.
There are two types of correspondent accounts:
1) LORO account ("Your account with Us") - an account opened by a correspondent bank to a respondent bank, through which funds are transferred and credited.
2) NOSTRO account (“Our account with YOU”) – an account opened with a respondent bank.
Write-off of funds from the LORO correspondent account is carried out in accordance with the instruction of the respondent bank, with the exception of cases of write-off of funds from the account without the owner's order, provided for by law or contract. The order of the respondent bank is a payment order drawn up by this bank and which is the basis for conducting a transaction on the LORO account. The payer's settlement documents are also attached to the payment order.
The correspondent bank performs a transaction on the LORO account, provided that the amount of the respondent bank's instruction does not exceed the account balance, the nature of the transaction complies with the agreement, legislation and regulations of the Bank of Russia. Thus, banks are not entitled to transfer taxes and other obligatory payments through these accounts. If necessary, the correspondent bank may provide the respondent bank with a loan on the basis of an additional agreement. The instructions of the respondent bank, which cannot be executed on its account, must be returned to it by the correspondent bank on the day of receipt of these instructions.
Interbank settlements can be carried out not only by writing off (crediting) funds to bank accounts, but also as a result of clearing.
Interbank clearing is a system of regular non-cash settlements based on the offset of mutual claims and obligations of the settlement participants.
The concentration of payments in clearing can significantly reduce the balance of payments and the total amount of circulating means of payment, and expand the scope of non-cash circulation. Through clearing, settlements are simplified, cheaper and accelerated. The organization of an interbank offset is different depending on the status of the participants in mutual offsets, the organizational structures conducting the offset, the method of carrying out, the offset technology and other circumstances.
One of the options for interbank clearing is interbank settlements through the RCI, which are used in the settlement network of the Bank of Russia. Along with this form of clearing, settlement non-bank credit organizations (RNCOs) are used in interbank settlements. The main goals of the creation of RNKO are to speed up and optimize interbank settlements, as well as to increase their reliability and reliability.
The clearing organization must provide reliable multi-level protection of data from unauthorized access, misuse, distortion and falsification at the stages of processing and storage. Reception, transmission of data over communication channels is carried out using hardware and software cryptoprotection, data encryption methods.
One of the directions of development of banks is the creation of a developed branch network. Taking into account that the branch of the bank is not a legal entity and the parent credit institution submits a consolidated report, the settlement operations of the branches have certain peculiarities.
A credit institution shall have the right to open the following accounts in the name of a branch in order to carry out settlement transactions, granting it the right to dispose of these accounts and reflect operations on these accounts on its balance sheet:
Correspondent sub-account in the RCC at its location;
Accounts of interbranch settlements in the parent organization, as well as in any of the branches of the credit institution.
Using accounts of interbranch settlements, a credit institution can conduct intrabank settlements. On the accounts of interbranch settlements, branches of banks can make payments on all operations permitted by the license to the parent bank. Opening and closing of these accounts is carried out by order of the head of the head bank.
The procedure for conducting settlement operations on these accounts must ensure compliance with the following conditions:
Drawing up a daily consolidated balance sheet for the bank;
Each branch (settlement participant) must have a unique number in the intra-bank settlement system (this number is used when creating personal accounts for interbranch settlements);
A procedure for identifying each settlement participant should be established (exchange of cards with samples of signatures and seals, analogues of a handwritten signature in the form of codes, passwords, electronic signatures, etc.);
Reconciliation of settlements should be made daily on the basis of account statements.
To make payments to customers, the branch that sends the payment draws up an order and, together with copies of the customers' settlement documents (or their electronic copies), sends them to the destination by the chosen route and method of information transfer. In the branch executing the payment, the received funds are credited to the accounts of customers.
6.4 Offenses in the field of cashless payments
The system of cashless payments has always been an attractive object for criminal encroachments. This is due to the possibility for criminals to steal significant amounts of money, for example, by introducing false documents into the settlement system.
Offenses in the field of non-cash payment turnover can be committed by bank employees by illegal opening and use of accounts. Such actions should include:
Illegal opening of bank accounts,
Violation of the jurisdiction of bank accounts,
Violation of the order of calculations,
Deliberate delay in customer payments (violation of the timeliness of settlements).
Accounts opened without proper legal registration for remuneration to bank employees. At the same time, the following documents may be missing or do not meet the requirements: documents that determine the status of bank customers (certificate of state registration, legally approved constituent documents, etc.), a certificate of registration with the tax authorities, a notarized card with sample signatures and an imprint print. As a rule, this indicates that this enterprise is fictitious, registered to nominees or non-existent persons. The purpose of opening accounts is to carry out illegal transactions and avoid fulfilling their obligations.
To commit crimes in the financial and credit sphere, criminals almost always use commercial structures bought on a turnkey basis or registered with false, stolen passports, at fictitious legal addresses. The vast majority of fictitious enterprises do not keep accounting records or carry out them with violations, without submitting balance sheets and other reporting documentation to the tax authorities, the analysis of which would allow timely identification and suppression of illegal activities. In addition, often false firms are created to carry out one or two criminal transactions.
Under violation of the jurisdiction of bank accounts it should be understood the illegal use of other types of bank accounts (deposit, special) as settlements or the conduct of operations bypassing the current account (when issuing a loan). Thus, legal entities get the opportunity to conduct transactions regardless of claims to the current account, with a violation of the order of payments, as well as use the account to accumulate funds that do not belong to them with their subsequent spending on various transactions. Such violations are impossible without the participation of bank employees.
Violation of the order of payments can occur when there is insufficient funds in the current account. In such a situation, the legislation establishes five queues for payment of settlement and payment documents. Priority is given to settlements with individuals, with the state for mandatory payments and settlements under executive documents. Payments of a commercial nature should be made last. Within one queue documents are paid in the calendar order of their receipt. It is possible that a situation may arise when bank employees accept settlement and payment documents for execution out of turn for a fee. At the same time, there are debts on wages and on settlements with the budget.
Some lending institutions intentionally delay the execution of payment documents of clients in order to use these funds as credit resources and receive interest on loans. It should be taken into account that funds can be placed on the interbank credit market for a very short period of time (1, 3, 7 days). In this case, damage can be caused not only to legal entities and individuals, but also to the state. For example, when taxpayers' payments to the budget are delayed and extra-budgetary funds or funds are sent to budgetary institutions.
The greatest danger in the field of non-cash payment turnover is theft of funds using false settlement and payment documents. The object of theft can be not only the funds of the bank's clients, but also the funds of the banks themselves, including the Central Bank of Russia. There are many options for using false payment documents, they can be combined into the following groups:
Theft of funds under false documents of clients,
Theft of funds on false internal bank documents,
Theft of funds under false interbank documents.
Theft of funds under false documents of clients is the most common form of this type of offence. Fake documents are submitted to the bank for the transfer of funds from the company's account to the account of a front company for subsequent assignment. The objects of forgery can be:
Money orders,
accepted payment requests,
Collection orders and executive documents of courts and arbitration courts,
Cash checks (in case of theft of cash from the current account),
Registers of accounts and shipping documents (in case of theft of funds from letters of credit accounts),
Settlement checks and registers of checks (in case of theft of funds from checking accounts).
When drawing up these documents, criminals must know the full details of the enterprise and forge the signatures of its officials and the seal. With the spread of the "bank-client" system, there are more cases of its "hacking" and the introduction of electronic payment documents on behalf of the enterprise, certified by an electronic analogue of its own signature.
Theft of funds under false internal banking documents involves the preparation by employees of banks and cash registers of false memorial, payment or corrective orders for the transfer of funds from customer accounts to shell companies' accounts for subsequent appropriation. Such actions may be accompanied by "hacking" of the bank's computer networks and the introduction of these documents in electronic form.
It is possible for bank employees to change the details of genuine payment orders of clients or to make deliberately incorrect accounting entries. Thus, the funds of clients are redirected to the accounts of shell companies and appropriated.
Have an increased risk theft of funds under false interbank documents. This is explained, firstly, by significant amounts of interbank payments and, secondly, by the fact that the state represented by the Bank of Russia may be the affected party. The system of interbank settlements in Russia has undergone significant changes in recent years. At different stages of its development, various payment documents acted as an instrument of criminal attacks:
Credit memos for MFIs,
Consolidated payment orders of banks,
electronic payment documents,
Settlement checks stamped "Russia".
The most notorious were frauds involving false credit memos for MFIs, which were a means of interbank settlements through the settlement system of the Central Bank of the Russian Federation. The peak of these crimes occurred in 1992-1993. The perpetrators created fake credit memos for MFIs and payment orders from clients, which, bypassing the payer's bank's cash register, were sent (by courier, by teletype) to the recipient's bank's cash register. The latter credited money to the correspondent account of the beneficiary's bank, which, in turn, transferred them to the account of the client indicated as the beneficiary. These documents are fictitious, because the payer does not exist or the money has not been debited from his account. Consequently, the RCC, on behalf of which the advice was sent, did not debit the corresponding amount from the correspondent account of the payer's bank. Thus, it turns out that the payment was made at the expense of the funds of the Central Bank of Russia, of which the RCC is a subdivision. This machination is fundamentally possible, because debiting funds from the correspondent account of one bank and crediting them to the correspondent account of another do not coincide in time and space. During 1992 alone, more than 150 false advice notes were uncovered. The total amount of funds stolen under false advice in 1992-1995 is equivalent to 5 billion US dollars.
As a tool for direct settlements between commercial banks, consolidated payment orders of banks are used. , acting as a credit note. Based on these documents, transactions are made to credit funds to customer accounts in correspondence with LORO and NOSTRO accounts of correspondent banks. Consolidated payment orders of banks can also be the object of forgery. In this case, the damage is caused to the bank that accepts this document for execution.
Recently, the main part of interbank settlements is carried out in the form of electronic payments. The main tool for such payments is an electronic payment document (EPD), its purpose is similar to a credit memo or a bank's consolidated payment order. Accordingly, the principle of theft of funds remains, only the technique of introducing a fake is changed. This requires unauthorized access to computer networks and knowledge of the procedure for compiling documents.
Among the interbank documents, we included settlement checks marked "Russia". Although these documents were not a means of interbank settlements, they were issued by the RCC on behalf of the Central Bank of Russia. Checks marked "Russia" were put into circulation on July 1, 1992. It was easy to fill in check forms with fictitious data due to the simplified procedure for making seals. Fraudsters received money on counterfeit checks in banks remote from the actual issuers of checks, which made it difficult to verify their authenticity, especially in the context of insufficient technical equipment of domestic banks. Since November 1992, the issuance of checks has become more complicated, and their use is limited to single-year settlements. Nevertheless, more than 100 counterfeit checks for a total amount of more than 4 billion rubles had already been identified by this time.
The main stages of any scam with false interbank documents are: production of false documents, delivery / implementation of documents to the bank or cash register, tracking the movement of documents and, if necessary, confirming them, receiving and appropriating funds. At all stages, as a rule, the help of accomplices in the RCC or commercial banks is used. The recipients of funds can be:
Fictitious firms (one-day enterprises created specifically for this purpose),
Partner firms (operating under joint venture agreements),
Conscientious firms misled (receiving payment for the delivered goods).
The money received on the accounts of front companies is transferred to the accounts of other enterprises for subsequent conversion and transfer abroad or cashing out. Often such transfers are made without proper justification for bribes to bank employees.
A significant proportion of offenses in the field of non-cash payment turnover is associated with theft of funds and goods in imaginary transactions. Illusory transactions are concluded on behalf of fictitious enterprises and aim to deceive counterparties in order to seize their money and inventory. Fake transactions include:
Theft of advance / prepayment (imaginary implementation),
Theft of goods when forging documents for payment (sham representation),
Theft of an advance payment / prepayment and goods from various companies at the same time (imaginary mediation),
Theft of goods under the guise of mutual offsets (imaginary offsets).
Mechanism imaginary implementation known enough. Criminals create a fictitious enterprise and announce in the media the possibility of selling goods at low prices and in a short time, subject to prepayment. After the conclusion of contracts and the receipt of money on the account, the amount of the advance / prepayment is assigned, and the attackers hide.
To receive an advance payment, the appearance of a legally operating participant in economic activity, his respectability, the possession of significant financial and other opportunities to fulfill the contract in their actual absence is created. For these purposes, distorted data are entered into constituent documents, documents (seals, stamps, letterheads, details) of collapsed enterprises are used, "fake" financial reports and conclusions of imaginary experts and auditors are compiled. A so-called "facade" is being created: an attractive office, fictitious information about transactions in progress, fake guarantees and guarantees, supposedly known partners, correspondence with foreign partners, custom-made articles in newspapers. If necessary, the availability of goods or the possibility of its delivery can be confirmed by: fake warehouse receipts for the storage of non-existent valuables, forged transport and customs documents, fictitious supply contracts, demonstration of someone else's goods.
Imaginary representation is to create the appearance of payment for the delivered goods, work performed, services rendered. Criminals pretend to be representatives of a non-existent (or existing) company and enter into an agreement for the supply of goods with an advance payment. To receive the goods from the supplier, he is presented with: a payment order for payment with a fake bank mark on its acceptance and transfer of money, a fake bank statement from the account, a letter of guarantee and a power of attorney to receive inventory items. In reality, the money for the released goods will not be credited to the supplier's account. The instrument of this fraud can be counterfeit checks or checks issued for an amount exceeding the limit of the checkbook. In the latter case, the bank pays checks only up to the amount deposited in the checking account. Goods appropriated in this way are sold, and funds are appropriated.
A combination of the two previous methods is ostensible mediation when contracts are simultaneously concluded for the purchase of goods from one enterprise and for the sale of it to another. At the same time, after receiving an advance payment from the buyer and the goods from the supplier, the organizers of the fraud hide. Organization imaginary offsets is to offer offsets with creditor enterprises. Goods received for offsetting are appropriated.
Questions and tasks for self-control:
1. Define cashless payments.
2. Expand the principle of settlement security.
3. Expand the principle of priority of calculations.
4. Expand the principle of the consent of the payer in the calculations.
5. Expand the principle of timely settlements.
6. List non-cash payments in the Russian Federation.
7. Give a definition and name the types of settlement documents.
8. Describe the payments by payment orders.
9. Describe the calculations as payment requirements.
10. Describe the calculations for the letter of credit.
11. Name the types of letters of credit.
12. Describe the payments by checks.
13. List the types of interbank settlements in the Russian Federation.
14. Describe the settlements through the settlement network of the Central Bank.
15. Describe direct correspondent accounts.
16. Describe the interbank clearing.
17. Describe the intra-bank inter-branch settlements.
BANK PAYMENT CARDS
7.1 Essence and types of bank payment cards
The introduction of bank cards as one of the main means of non-cash payments is the most important task of the "technological revolution" of banking. This means of payment, having many undoubted advantages, provides both cardholders and credit institutions involved in their issue and maintenance with a lot of advantages. For cardholders, this is convenience, reliability, practicality, time saving, no need to carry large amounts of cash. For credit institutions - increasing competitiveness and prestige, the availability of payment guarantees, reducing the costs of manufacturing, accounting and processing paper money, minimal time costs and savings in human labor. This is only an incomplete list of the qualities of plastic money that led to their recognition in the world market. Payment cards are a key element of electronic banking systems, increasingly replacing check books and cash banknotes.
The general term "payment card" refers to various types of instruments that differ both in name and set of services provided with their help, as well as in technical capabilities and organizations issuing them. The main feature of a payment card is that, regardless of the degree of technical perfection, it stores a certain set and volume of information, which allows it to serve as one of the progressive means of organizing cashless payments.
Payment card usually it is a plastic rectangle with a special magnetic stripe or microchip, which stores information necessary for paying for goods (works, services) or for withdrawing cash from the amounts available on a special account.
When buying a product, paying for a service or work, the card, together with the check, is placed by the seller in a special device - a cash terminal (imprinter). Once enabled, information about the cardholder's name and account number is printed on the check, along with the merchant's name and address. Then, using the same device, the seller contacts the bank or company issuing the card and finds out its "solvency", i.e. the presence of a minimum deposit or a free credit limit on the account.
In addition, the card goes through an authorization procedure - it receives permission from the credit institution that issued or distributed it to conduct transactions using it, which simultaneously generates obligations using the payment card documents. Having received this information, the seller decides whether the card can be accepted, i.e. used for payment. The details and amount of the transaction are recorded on the account (payment receipt) and signed by the buyer.
The seller, having compared the signature on the receipt and the card and making sure that they are identical, returns the card to the buyer, and also transfers a copy of the receipt. It should be noted that the cardholder additionally authorizes the transaction by dialing into the POS terminal a personal identification number known only to him. After all these operations have been completed, the seller gives a command to debit the required amount of money (the cost of the purchase, work or service) from the account. Later, the seller sends the receipt to the company or bank through the bank branch and thereby confirms the payment made at the time of purchase via computer communications.
If the amount of money on the account for settlements is insufficient, then the cardholder will be asked to use another form of payment. If there are no funds on the account at all, the card will be put on the stop list (a list of blocked numbers that are not accepted for service), its operation will be suspended, and operations will be terminated. In addition, lost or stolen cards are also included in the stop list, which excludes the possibility of their unauthorized or malicious use.
As noted above, payment cards have significant differences in the nature of the operations performed; according to technical characteristics; according to the types of persons who issue them and for whom they are intended. Consider the types of payment cards according to the most important features of the classification.
First of all, according to the nature of the operations performed, bank payment cards are credit and debit.
The lack of a legal definition of the concept of a payment card, and the resulting misinterpretation of this term, led to the fact that for a long time all types of payment cards were called credit cards in the Russian banking market. At the same time, in practice, mainly debit cards were issued and distributed. Let's take a closer look at the main differences between credit and debit cards.
Credit card is a means of payment in which the issuer assumes not only the obligation to transfer the client's funds to the accounts of his counterparties, but also the risk of immediate payment for goods, works and services of its owner within the limits of the credit limit established by him. Thus, a credit card allows its owner, when making any purchase, to defer its payment by obtaining a loan (credit line) from a bank.
The credit limit is determined by the issuing bank for each cardholder on his loan account. This account is absolutely independent of the client's current (settlement, deposit) account in the bank. As a rule, before opening a loan account, the bank or the respective card company checks the financial situation of the future cardholder, as well as details of the client's previous credit transactions (his "credit history"). Based on these data, the issuer determines the balance of the client's funds on the loan account, as well as the amount of possible receipts and write-offs.
It should be noted that issuers, as a rule, set specific terms within which the client is obliged to repay the bank loan. In the event of a delay in repayment, the bank has the right to charge the interest agreed in advance with the client for each day of delay. For this purpose, banks quite often establish a special insurance deposit, the funds of which can be used both to write off debts to the bank and to levy a claim in favor of possible creditors of the client.
Debit cards are intended for immediate payment for goods, works and services by direct debiting of funds from the current account of the cardholder to the account of his creditor within the amount available there. Thus, payments on a debit card are made by direct transfer of funds debited from the account of its owner, and not by obtaining a loan from a bank.
In case of insufficient funds, settlements by the bank will not be made, unless the bank has granted the client the right to overdraft. In the latter case, the payment card will be of a mixed nature, combining the features of a debit and a credit card. The amount of a bank loan may depend on various circumstances, for example, on the amount of permanent balances on the card account and the regularity of its replenishment.
From the point of view of technical capabilities, plastic cards can be classified into magnetic and microprocessor.
magnetic card is only a reflection of the owner's bank account: its magnetic indicator contains only information about the name of the owner and the number of his bank account. Therefore, when making payments using this card, each time it is necessary to contact the central computer to obtain information on the availability of the amount of money necessary for paying for goods (works, services) on the account (on-line mode).
microprocessor card(smart card) provides much more opportunities for manipulating the money in the account. The fact is that such a card contains a microprocessor (chip) - a small square or oval on the front side, the memory of which contains all the information about the bank account of its owner: the amount of money in the account, the maximum amount that can be withdrawn from the account at a time, about transactions made during the day. All this is due to the microprocessor, the main advantage of which is its high ability to reliably store and use large amounts of information with constant memory. The microprocessor card is able to work off-line, which does not require contacting the bank or company where the card holder's account is opened in every necessary case.
Thus, a microprocessor card is an order of magnitude more advanced means of payment than a magnetic one. Due to its technical characteristics, a smart card is not only more reliably protected from counterfeiting, but also provides a wider range of options for operating an account: in addition to receiving money through an ATM, its owner can transfer funds from a card account to a deposit account or another one, however, within that bank who issued the card.
Among the inconveniences that arise when using a microprocessor card, one can attribute, firstly, the lack of a unified unified system for servicing these cards, and secondly, the high cost of manufacturing microprocessors. Therefore, despite the high level of their protection against counterfeiting and unauthorized access to the cardholder's account, the costs of banks for the introduction of cards with memory on a microcircuit are too high, which somewhat limits their distribution.
According to the types of entities for which payment cards are intended, it is customary to allocate personal and corporate cards. The owner of a payment card can be both an individual who has a personal account with the issuing bank, and a legal entity for which a corporate account is opened.
Most common personal cards, issued to individuals. The bulk of them refers to "salary cards" - debit cards designed to transfer wages. Many organizations, including budget ones, have switched to a payroll system by non-cash transfer of funds to the card accounts of their employees. A feature of such cards in Russia is low balances on card accounts, as customers prefer to quickly withdraw cash from ATMs than use them for settlements in trade organizations.
Corporate card issued to legal entities and is intended for managing the account of a legal entity. It is issued by the issuing bank or distribution organization to individual employees of the company authorized to use its funds, and therefore, in addition to the name of the company, the user name is stamped on the corporate payment card, so that only one person can use it, who, when paying for goods, works or services, will have to confirm your personality. A company can open cards for several of its employees, and there are no restrictions on the number of cards opened within one company.
Purchasing a corporate card has advantages. First of all, it is a wider range of opportunities for operating an account. In addition to travel expenses, using such a card, you can pay for hospitality expenses, translation services, receive big discounts in service organizations, and sometimes even pay for contracts. In addition, the limit for receiving cash from a card account on a corporate card is much higher than on a personal one.
The responsibility for the improper use of a corporate card to the bank lies with the legal entity-owner, and the individual user, in turn, is accountable to his organization for all expenses incurred on the corporate card.
7.2 Issuance, acquiring and distribution of bank payment cards
The world history of payment cards has been going on for several decades. In Russia, the first payment cards were issued in 1989, but they became truly massive ten years later. During this period of time, the first regulatory document of the Central Bank related to bank cards appeared.
Similar information.
A payment order is an order from an enterprise to a servicing bank to transfer a certain amount of money from its account. The payer submits an order to the bank on the form of the established form. Payment orders are valid for ten days from the date of issue, not including the day of issue. With uniform and constant deliveries between the supplier and the buyer, settlements between them can be carried out in the order of planned payments on the basis of agreements using payment orders in the calculations.
Money transfers can be made by payment orders:
· for goods supplied, work performed, services rendered;
· to the budgets of all levels and extra-budgetary funds;
· for the purpose of repayment (placement) of credits (loans), deposits and payment of interest on them;
· on orders of individuals or in favor of individuals (including without opening an account);
· for other purposes provided for by law or the contract.
When receiving payment orders, the bank operator checks the correctness of their filling and registration. On all copies of payment orders accepted for execution (except the last one) in the field "Received by the bank of payments." he puts down the date of receipt of the payment order by the bank. The last copy of the payment order is returned to the payer as confirmation of acceptance of the payment order for execution. In it, in the "Marks of the bank" field, the stamp of the bank, the date of receipt and the signature of the responsible executor are put down.
When using the electronic settlement system, as well as the client-bank system, an electronic copy of the payment order is transmitted. For its transmission, various communication channels can be used, and an electronic copy is certified by an analogue of a handwritten signature. If necessary, a document is printed on paper from an electronic copy and the necessary fields are drawn up in it.
The bank must accept payment orders regardless of the availability of funds in the payer's account. If there is a shortage of funds on the payer's account, and also if the bank account agreement does not provide for an overdraft for paying settlement documents in excess of the funds available on the account, payment orders are placed in a file cabinet. This is a card index for off-balance account No. 90902 “Settlement documents not paid on time”. All copies of the payment order placed in the card index shall be marked in any form about the placement in the card index with the date indicated. Documents in this file are paid for as funds are received in the order established by Article No. 855 of the Civil Code.
Partial payment of payment orders from the card file on off-balance account No. 90902 is allowed. In this case, the bank uses a payment order of form No. 0401066. This form is similar to the form of a payment order and the procedure for filling it out corresponds to the general procedure for filling out forms of settlement documents.
The scheme of payments by payment order and the transactions used in this case are shown in fig. 5.11. Here is a calculation option using correspondent accounts opened with a division of the Bank of Russia. For ease of consideration, the case is chosen when the correspondent accounts of commercial banks are opened in one RCC. More complex schemes for passing a payment through the payment system of the Bank of Russia were discussed above.
Rice. 5. 1 1. Scheme of payment by payment orders when using correspondent accounts in the cash settlement center:
1 - the buyer submits a payment order to the bank in two copies and receives back the second copy as a bank receipt or sends an electronic version through the client-bank system;
2 - the buyer's bank, on the basis of the first copy of the payment order or an electronic version signed by an analogue of a handwritten signature, debits funds from the buyer's current account;
3 - the buyer's bank sends the register and the electronic version of the payment order to the RCC;
4 - RCC draws up a transaction between correspondent accounts of commercial banks;
5 - RCC sends an electronic version of the payment order to the seller's bank;
6 - the seller's bank, using the electronic version of the payment order, credits funds to the seller's settlement account;
7 - RCC sends statements from correspondent accounts to commercial banks;
8 - banks issue their customers statements from current accounts;
30101 - correspondent accounts of credit institutions with the Bank of Russia
30102 - correspondent accounts of credit institutions with the Bank of Russia
Correspondent accounts No. 30101 and No. 30102 presented in the diagram have similar names “Correspondent accounts of credit organizations with the Bank of Russia”, but the first of them is passive and is opened on the balance sheet of the Bank of Russia, and the second is active and is opened on the balance sheet of a commercial bank. In the diagram, the left account in the RCC corresponds with the buyer's bank account, and the right one with the seller's bank account.
A payment order issued to make a payment shown in the diagram may look similar to that shown in Figure 5.12. Unlike the scheme, it presents the full numbers of personal accounts for settlement accounts and for correspondent accounts. As for correspondent accounts, the payment order indicates the correspondent account on the balance sheet of the Bank of Russia.
In the "BIC" columns for the payer's bank and the beneficiary's bank, their bank identification codes are indicated.
The structure of the BIC is as follows:
digits 1, 2 - code of Russia;
digits 3, 4 - code of the territory of the Russian Federation (republics, territories, regions);
digits 5, 6 - the last two characters of the conditional number of the institution of the Bank of Russia;
digits 7, 8, 9 - designations of institutions, divisions of the Bank of Russia and credit institutions.
The last three digits take on the following values:
000 - for district and inter-district cash settlement centers;
001 - for head cash settlement centers;
002 - for other institutions and divisions of the Bank of Russia.
To designate credit institutions, these three categories take values from 201 to 999.
Fig.5. 12. An example of filling out a payment order when using correspondent accounts opened by commercial banks with the RCC
If, when calculating by payment order, not the payment system of the Bank of Russia is used, but a private payment system with direct correspondent relations between commercial banks, then the settlement scheme will look similar to that shown in Fig. 5.13.
Rice. 5. 1 3. Scheme of settlements by payment orders when using direct correspondent relations:
1 - the buyer submits a payment order to the bank in four copies and receives back the fourth copy as a bank receipt;
2 - the buyer's bank, on the basis of the first copy of the payment order, debits funds from the buyer's current account;
3 - the buyer's bank sends two copies of the payment order to the seller's bank;
4 - the seller's bank, using the second copy of the payment order, credits funds to the seller's settlement account;
5 - the seller's bank issues to the buyer's bank an extract from the correspondent account;
6 - banks issue their customers statements from current accounts;
c h e t a b u x g a l t e r c o g o g u t a t :
30109 - correspondent accounts of credit organizations of correspondents
30110 - correspondent accounts with correspondent credit institutions
40702 - commercial enterprises and organizations
For a change, the diagram shows an option when the calculation is carried out by a payment order prepared on paper. The payment order corresponding to this option will take the form shown in Fig. 5.14. It should be taken into account that in practice, as a rule, such settlements are carried out electronically, and then the electronic exchange of the payment order will take place similarly to the previous settlement scheme through the RCC.
Rice. 5.14. An example of filling out a payment order when using direct correspondent relations between commercial banks
The difference from the previous payment order is that in the field "Type of payment" it is written "by Mail", in the field "Payer" the current account and bank of the payer are indicated, and in the field "Account No." opposite the field "Payer" the correspondent account of the payer's bank is indicated at the correspondent bank. In this case, the beneficiary's bank acts as the settlement bank. Since the beneficiary's current account is located in this settlement bank, the data in the fields of the payer's bank and the beneficiary's bank are the same.
The Bank of Russia by Decree No. 2360-U dated December 11, 2009 "On the procedure for compiling and applying a bank order" introduced a new settlement document - a bank order. It can be used when a credit institution performs settlement operations on a bank account, a customer's deposit (deposit) account opened with this credit institution, in cases where the payer or recipient is the credit institution itself. The document is drawn up by a credit institution on paper or in electronic form according to Form No. 0401067. A bank order is attached to an extract from the client's personal account, reflecting the operations carried out on his personal account.
Payment order is a written order of the account holder to the bank to transfer a certain amount of money from his account (settlement, current, budget, loan) to the account of another enterprise-recipient of funds in the same or another one-town or non-resident bank.
The possibilities of using payment orders in settlements are diverse. With their help, settlements are carried out in the economy both for commodity and non-commodity transactions. In this case, all non-commodity payments are made exclusively by payment orders.
When making payments for goods and services, payment orders are used in the following cases:
- for goods received and services rendered, subject to reference in the order to the number and date of the shipping document confirming the receipt of goods or services by the payer;
- for payments in the order of advance payment and services (provided that the instruction refers to the number of the contract, agreement, contract, which provides for advance payment);
- to pay off accounts payable on commodity transactions;
- when paying for goods and services by court and arbitration decisions;
- when renting for premises;
- payments to transport, communal, household enterprises for maintenance, etc.
In settlements for non-commodity transactions, payment orders are used for:
- payments to the budget;
- repayment of bank loans and interest on loans;
- transfers of funds to state and social insurance bodies;
- contributions of funds to statutory funds when establishing joint-stock companies, partnerships, etc.;
- acquisition of shares, bonds, certificates of deposit, bank bills;
- payment of penalties, fines, penalties, etc.
To make a payment, a bank loan can be used if the economic agency has the right to receive it.
The order is valid for 10 days from the date of its issue (the day of issue is not taken into account).
With constant and uniform deliveries of goods and provision of services, buyers can settle with suppliers by payment orders in the order of planned payments. In this case, payments are made not for each individual shipment or service, but by periodically transferring funds from the buyer's account to the supplier's account at a specific time and in a certain amount based on the plan for the release of goods and services for the coming month, quarter. In this way, settlements can be made between trade organizations, their suppliers, between power plants and manufacturing enterprises for coal, gas, electricity, metal, etc.
Settlements by payment orders have a number of advantages compared to other forms of payment: a relatively simple and fast document flow, faster cash flow, the ability to pre-check the quality of paid goods or services, the ability to use this form of payment for non-commodity payments. But at the same time, there may be a risk of untimely transfer of funds by the servicing bank to the accounts of counterparties serviced in other banks (with a lack of funds on the correspondent accounts of the paying bank). Suppliers (recipients of funds) bear both the specified risk and the risk of untimely issuance of a payment order by the payer.
Settlements for collection carried out on the basis of:
1. payment claims, payment of which can be made:
a) by order of the payer (with acceptance) or
b) without his order (without acceptance)
2. collection orders, payment for which is made without the order of the payer (in an indisputable manner).
Payment claims and collection orders are submitted by the recipient of funds (collector) to the payer's account through the bank servicing the recipient of funds (collector).
Payment Request represents the requirement of the supplier to the buyer to pay, on the basis of the shipping and commodity documents attached to it, the cost of products delivered under the contract, work performed, services rendered.
The payment request is issued by the supplier on the basis of the actual shipment of products or the provision of services on a standardized form in three copies and, together with the shipping documents, is sent to the servicing bank for collection. Collection- this is a banking operation through which the bank, on behalf of its client, receives funds due to it from other organizations and enterprises on the basis of commodity, settlement and monetary documents.
Since the initiative in settlements with payment requests comes from the supplier, this eliminates the risk of late issuance of payment documents, but payment for these documents can be made only with the consent (acceptance) of the buyer. For this purpose, the payment requests received by the buyer's bank are registered in a special journal and the last copy of the payment request is transferred by the bank directly to the payer for acceptance.
Domestic banking practice knows different forms of acceptance: positive and negative, preliminary and subsequent, full and partial.
positive acceptance- the form of acceptance, in which the payer is obliged, for each settlement document containing the supplier's demand for payment, to declare in writing either his consent to payment or refusal to accept.
Negative acceptance- form of acceptance, in which the payer notifies the bank in writing only of the refusal of acceptance. Refusals not declared within the agreed time are regarded by the bank as the payer's consent to payment (tacit acceptance).
Prior acceptance means that the payer gives his consent to pay the supplier's demand before the money is debited from his account.
Subsequent acceptance provides for immediate payment of settlement documents as they are received by the bank during the banking day. If the payer refuses acceptance within the time period set for this, the bank must return the transferred funds to the payer's account.
Until 1991, in our country, the main form of acceptance was a negative acceptance of a preliminary nature.
The current regulation "On non-cash payments in the Russian Federation" (No. 2-P of April 12, 2001) provides for the use of payment requests in settlements positive form of acceptance , which always has preliminary character.
The term for acceptance of payment requests is determined by the parties under the main agreement, but not less than five working days. In this case, the day of receipt of the settlement document by the bank is not taken into account.
The refusal declared by the payer can be full or partial and must be motivated.
The traditional motives for refusals of acceptance are: the goods are not ordered; non-commodity account; there is no agreed price; shipment to the wrong address, as well as other motives related to the violation of contractual obligations by the supplier.
As a rule, the motive for refusal of acceptance must be supported by references to the relevant clauses of the contract between the supplier and the buyer.
Acceptance of a payment request or refusal of acceptance (full or partial) is drawn up by a special document on acceptance, refusal of acceptance in a special form. When accepting a payment request, the document is drawn up in two copies, the first of which is made out by the signatures of officials who have the right to sign settlement documents, and an imprint of the payer's seal. In case of full or partial refusal to accept the payment request, the document is drawn up in triplicate. The first and second copies - are made out by the signatures of officials who have the right to sign settlement documents, and an imprint of the payer's seal.
In case of non-receipt of the document of acceptance within the established period, refusal of acceptance, the payment request is returned to the issuing bank on the next business day after the expiration of the acceptance period, indicating on the reverse side of the first copy of the payment request the reason for the return: “Consent to acceptance was not received”.
Direct debiting of funds from the accounts of payers can be made on the basis of:
Legislation. In this case, in the field "Terms of payment", the recipient of funds puts down "without acceptance" and makes a reference to the law (indicating its number, date of adoption and the relevant article), on the basis of which the debit is carried out.
Agreement. In this case, in the field "Terms of payment", the recipient of funds puts down "without acceptance" and makes a reference to the contract (indicating its number, date of acceptance and the corresponding clause), on the basis of which direct debiting is carried out.
When accepting payment requests for direct debiting of funds, the responsible executor of the executing bank is obliged to check whether there is a reference to the legislative act (main contract) that entitles the recipient of funds to the specified settlement procedure. In the absence of the indication "without acceptance", payment requests are subject to payment by the payer in the order of preliminary acceptance with a period for acceptance of five working days.
Settlements by payment requests can be assessed as promising, since they meet the financial and economic interests of suppliers and buyers and strengthen contractual relations in the economy: the issuance of settlement documents is accelerated, since their execution is carried out by the recipient of the payment (supplier) immediately after the shipment of products or the provision of services; the supplier has the opportunity to receive factoring services at the bank for the time of diverting funds from economic turnover into shipped goods; payment is made only after shipment and verification of the fulfillment by the supplier of its obligations.
A collection order is a settlement document, on the basis of which funds are debited from the payers' accounts in an indisputable manner. Collection orders apply:
1) in cases where an indisputable procedure for collecting funds is established by law, including for the collection of funds by bodies performing control functions;
2) for recovery under executive documents;
3) in cases stipulated by the parties under the main agreement, provided that the bank serving the payer is granted the right to debit funds from the payer's account without his order.
In the collection order, in the field “purpose of payment”, a reference to the law (contract) should be made indicating its number, date of adoption and the relevant article (clause).
Payment order- this is an order of the owner of the account (payer) to the bank serving him, drawn up by a settlement document, to transfer a certain amount of money to the account of the recipient of funds opened in this or another bank. The payment order is executed by the bank within the period provided for by law, or the period established by the bank account agreement or determined by the business practices used in banking practice.
Money transfers can be made on the basis of payment orders:
a) for goods supplied, works performed, services rendered;
b) to the budgets of all levels and extra-budgetary funds;
c) for the purpose of repayment (placement) of credits (loans, deposits) and payment of interest on them;
d) for other purposes provided for by law or the contract.
In accordance with the terms of the agreement between counterparties, payment orders can be used to advance payment goods, works, services or implementation periodic payments.
Payment orders are accepted by the bank regardless of the availability of funds in the payer's account. In the absence or insufficiency of funds on the payer's account, and also if the bank account agreement does not determine the conditions for payment of settlement documents in excess of the funds available on the account, payment orders are placed in a file cabinet.
Payment orders are accepted to the bank regardless of the availability of money on the client's current account. The bank checks the correctness of filling and execution of the payment order and makes a note on the date of its receipt. Then the last copy of the order is returned to the client as confirmation of acceptance of the payment order for execution.
In the absence or insufficiency of funds on the payer's account, as well as the terms of payment of settlement documents in excess of the funds available on the account, the payment orders are placed in the file cabinet on the off-balance account No. 90902 "Settlement documents not paid on time". At the same time, on the front side in the upper right corner of all copies of the payment order, a mark is made in any form about being placed in a card index with the date indicated. Payment orders are made as funds are received in the order established by law.
The rules for making settlements allow partial payment of payment orders from the card file on off-balance sheet account No. 90902 “Settlement documents not paid on time”. In case of partial payment of a payment order, the bank uses a payment order of the established form. When issuing a payment order for partial payment, all its copies in the field “Bank marks” shall contain the stamp of the bank, the date, as well as the signature of the responsible executor of the bank. The first copy of the payment order for partial payment is certified by the signature of the bank's supervisory officer.
On the front side of the partially paid payment order, in the upper right corner, the mark "Partial payment" is made. The partial payment entry is made by the bank's responsible executor. In case of partial payment by payment order, the first copy of the payment order by which payment was made is placed in the documents of the bank's day, the last copy of the payment order by which payment was made is placed in the documents of the bank's day, the last copy of the payment order serves as an attachment to the extract from the payer's personal account. At the last partial payment under the payment order, the first copy of the payment order by which the payment was made, together with the first copy of the previously partially paid payment order, is placed in the documents of the day. The remaining copies of the payment order are issued to the client simultaneously with the last copy of the payment order attached to the extract from the personal account.
When paying a payment order on all copies of the settlement document, the date of debiting funds from the payer's account is affixed (in case of partial payment, the date of the last payment is indicated).
The bank is obliged to inform the payer at his request about the execution of the payment order no later than the next business day after the payer's application to the bank, unless another period is provided
bank account agreement. The procedure for informing the payer is determined by the bank account agreement.
The scheme of the document flow of settlements based on payment orders is shown in fig. 7.2.
Rice. 7.2. Workflow scheme for calculations using
