What features accompany settlement and cash services for individuals? What is this all about? What benefits do we get? What should you pay attention to during registration? These and many other questions will be answered in the article.
general information
Settlement and cash services for individuals is the name of the operation of opening and subsequent maintaining bank accounts that belong to specific people. For financial institutions, this is a very profitable and important activity. First of all, at least by the fact that in such cases people and companies transfer significant amounts of money to banks. And this is an important aspect, according to which the latter differ from other financial institutions. In addition, attracting individuals allows you to establish business relations with them, which subsequently develop into other, closer forms of cooperation. These include: the provision of bank guarantees, factoring, leasing, lending, trust and the like operations. Due to this, relations are strong, because when a financial institution and a client trust each other, they become mutually beneficial and mutually interested partners.
What are the benefits for individuals?
We can:
- Make any payments that are in no way connected with the implementation of entrepreneurial activity.
- Transfer funds received in the name of the owner.
- Carry out conversion operations.
- Make regular fixed payments (but only if there is a special request from the client).
Although, of course, there are certain specific features. So, if the court decides that for a certain reason it is necessary to write off a specific amount, this will be done without problems. In this case, one should only obey, which the bank does. Settlement and cash services for individuals nevertheless, despite such specifics, are the most useful tools that are necessary and widely used.
Various features
You need to talk about things like tariffs. Settlement and cash services for individuals, as previously mentioned, is very beneficial for the bank. But not only due to the fact that capital is secured through it, for which no interest should be paid, but also due to the removal of commissions. For the sake of fairness, it should be noted that it is considered good practice not to charge any additional payments if they are made within the framework of one financial institution. But if the operations are carried out between different banks, you have to pay a commission. Its size is relatively small, but still amounts to a few percent. In addition, in such cases, there is a certain specificity in the work plan. Do not forget that the usual term for a bank payment is three days. Yes, now they pass almost instantly, but if the order for payment or settlement is transmitted after the working day, there may be a delay until the next morning. Therefore, choosing who will service the ongoing transactions, you should inquire in detail about what and how is organized.