What are the main forms of cashless payments? Surely, so far your knowledge does not spread? Meanwhile, at least one should have an idea of ​​this, so to speak, for general development. In the article, we will consider not only the main forms of cashless payments, but also the principles of their use.
The concept
Before you understand the issue, you need to understand what it is. Bank transfer is called banking operations, the essence of which is the transfer of conventional monetary forms from one account to another. In other words, direct money exchange does not occur.
Cashless payments are carried out on accounts through the Bank of Russia or credit organizations. The basis for opening an account is a bank account agreement or a correspondent account agreement, unless otherwise provided by law or another form of settlement is used.
As a rule, non-cash payments are made between firms for amounts of at least sixty thousand. Only one current account can be opened for each organization. It is opened by the whole organization, while the form of ownership is unimportant, because the current account has the status of a legal entity and operates on a commercial basis. The owner of such an account manages its own funds and acts as an independent payer for payments to the budget. The account owner may also enter into other arrangements with the bank.
A current account is opened by an institution that is not engaged in commercial activities. As a rule, various public organizations use this account. It is noteworthy that the owner of such an account can use the funds from it only in accordance with the estimates of a higher organization.
Cashless Terms
Before disassembling the main forms of cashless payments, it is worth mentioning the conditions under which they are implemented:
- The presence of an account in a banking organization. This is the most important condition of all. In order to freely carry out non-cash payments, it is necessary to open a current account. To do this, you need to contact the bank, where they will explain what documents are required.
- Be sure to carry out all operations through the bank and keep money in the accounts of the same bank.
- Payment can be made only on the condition that there are funds in the account, and the owner can take a loan.
- It is necessary that all payments are made under the contract.
- The payer must be notified of all transactions that occur on his account.
- The legislation of our country provides for several basic forms of cashless payments and types of payments, which means that freedom of choice will be another condition. Simply put, the bank cannot establish restrictions on the choice of settlement forms, only counterparty organizations can do this.
- Standardization of payment documents. This is due to the fact that all payments are carried out on the basis of payment documentation, which, in turn, is compiled according to general rules and standards. All settlement documents must be executed on uniform forms and contain certain details.
Details of settlement documents
We have already said that there are several basic forms of cashless payments in the Russian Federation, as well as the details about details for any settlement documentation are described above. But in the previous chapter there is no specifics, but meanwhile you need to know about the details.
So, in the documents should be:
- Name of the settlement document.
- Payment type.
- The number of the settlement document and the date of issue.
- The name of the payer, his tax identification number, account number, name and address of the payer's bank. The bank identification code, sub-account or correspondent account number should also be indicated here.
- It is necessary to indicate the recipient of money, his TIN, account number, address and name of the beneficiary's bank, BIC, number of sub-account or correspondent account.
- You also need to write the purpose of the payment.
- As for the amount of payment, it must be indicated both in numbers and in words.
- Priority of payment.
- In certain cases, the signature and seal of authorized persons is required.
It is important to remember that nothing can be corrected in settlement documents. It is possible to present settlement documentation within ten days, the day of discharge is not included in the deadline.
A large selection of the main forms of cashless payments in Russia and in the world is due to the fact that information technology is constantly evolving. This allows you to use electronic money and saves time.
The essence of the calculations
Operations on the current account of the organization show changes in debt obligations and requirements, and also within the organization reflect the redistribution and distribution of gross national product and national income.
If banks work clearly, then non-cash accounts contribute to:
- Accelerating the turnover of funds.
- Reduce cash needed for circulation.
- Accelerated payment.
- Reducing the additional costs of storing, printing and transporting a large number of banknotes that are needed for cash payments.
Based on this, it can be noted that forms of organization of cashless payments have long replaced cash transactions.
Current legislation says that non-cash transactions between enterprises can be performed not only by banks, but also by non-bank credit institutions. As for banks, they interact with each other through correspondent accounts opened with counterparty banks.
Principles
Before proceeding to the forms of organization of cashless payments, it is worth talking about the principles of these same payments. Their compliance allows us to ensure compliance with the requirements and the calculations themselves. The requirements include reliability, timeliness and effectiveness.
There are only seven principles of various forms of bank cashless payments, and all of them are worth telling:
- Legal regime of payments and settlements. In other words, everything must comply with the legal framework. This principle assumes the presence of several regulatory documents, according to which the calculation is carried out. The main legislative sources are the Civil Code, the Arbitration Code and the Code of Civil Procedure.
- Settlements mainly on bank accounts. What does it mean? The main forms of cashless payments in Russia both between legal entities and between individuals are carried out through the bank, in which the account is opened. For services between the client and the bank, a bank account agreement is concluded.
- Maintaining liquidity. It is about the level when payments are made without interruption. Thanks to this principle, all obligations are fulfilled unconditionally and clearly. This is due to the fact that payers need to know the exact timing of the receipt of money in order to properly plan payments.
- The payer must agree to the payment. The implementation of this principle is achieved through the use of a payment instrument, for example, a payment order or check, or a special documentary acceptance, which is issued by the recipient of funds. By the way, the law provides for write-offs that do not require consent. This may include shortfalls in taxes or other obligatory payments.
- Urgency of payment. Funds must be continuously spent at the time indicated in the contracts. If the deadlines are not respected, then the circulation of funds is disrupted, which sooner or later leads to a payment crisis. By the way, the principle of urgency can also be attributed to the fulfillment of banking obligations in relation to settlement transactions.
- Control over the correctness of the calculations. Observation is divided into several types, but all of them are subject to the federal law "On Accounting", that is, there must be publicly available accounting reports.
- Property liability for non-compliance with the terms of the contract. Violation by a party to the contract leads to civil liability, which is expressed in the payment of the penalty and damages.
Form content
Before disassembling cashless payments, their organization and basic forms, let's look at what each form contains.
So, the elements of the calculation form are:
- Type of settlement document.
- The method of transmitting information.
- Workflow order.
Settlement Form
So we got to the main point. So, the main forms of cashless payments are:
- Money orders.
- Checks.
- Letter of credit.
- Settlements for collection.
- Other payments that are prescribed by law and are used in banking practice.
Since these methods are the main forms of cashless payments, then they should have common features. And they are:
- Responsibility for improper fulfillment or non-fulfillment of obligations to carry out banking operations lies directly with the banking organization.
- Details, form, content, as well as the procedure for the execution of various settlement methods are regulated not only by law, but also by banking rules.
By the way, the characteristic of the main forms of cashless payments is very reminiscent of the principles of these same payments, so we will not dwell in detail. We’ll better talk about each of the methods of cashless payments.
Payment order
This is the name of the settlement document, which is issued on a form of a certain form. It contains the owner’s order to the issuing bank to transfer some amount to the beneficiary’s account. By the way, the latter account can be opened in this, and in another bank.
Most often, a payment order is executed in four copies. One of them is received by the payer, the bank has the stamp on the document, which means that the order is equivalent to a receipt on receipt of the settlement document.
If the calculation is carried out according to this form, the bank is obliged, on behalf of the account holder, to transfer money to the recipient for the given details within the time period established by law or by agreement. The obligations of the issuing bank appear after the conclusion of the bank deposit agreement or bank account. For this reason, the institution must execute the payment order in any case. There are only two exceptions provided by law:
- Lack of funds in the account of the owner.
- The form and content of the payment order does not comply with the rules and legislative requirements.
A financial institution must transfer money to the beneficiary's account with any bank. When transferring funds, the organization performs two duties at once:
- Withdraws funds from the owner’s account.
- Provides the transfer of money to the details of the recipient.
It is noteworthy that the obligation was fulfilled only if the money arrived at the recipient's account. This is due to the fact that the bank is responsible not only for its actions, but also for the actions of the entities that it attracted to make settlements.
Now what are the main forms of cashless payments? And the first thing that comes to mind is a payment order. This is all due to the popularity of this form of payment, because it can be used to pay both individuals and legal entities.
Letter of credit
Among forms of cashless payments in Russia, payment by letter of credit is quite popular. Article 867 of the Civil Code establishes that a bank that acts on behalf of the owner to open a letter of credit undertakes:
- Make a payment to the payee.
- Transfer authority to another bank regarding payments to the recipient, or accept, pay, or take into account a bill of exchange.
- Take into account, pay or accept a bill of exchange.
It is important to remember that the rules on the performing bank with all rights and obligations apply to the issuing bank.
Settlements using a letter of credit are not as widespread as before, but nevertheless they remain the most guaranteed method of payment and the most acceptable form of payment.
Letters of credit by structure are quite complex, since the issuing bank has several legal relations with various entities. It:
- Payer.
- Attracted Bank.
- Executing bank.
- Beneficiary or beneficiary.
Attracted banks are those that were used by the issuing bank for settlements. Such an institution may be the organization in which the payer account is open, although in some cases it may be absent. It turns out that the bank account agreement in this case is not considered the basis for the occurrence of a letter of credit.
Collection
If they say, describe the main forms of cashless payments, do not forget about such a method of transferring funds as collection. What it is? This method of calculation provides for obligations on the part of the bank regarding the receipt of payment at the initiative of the recipient.
The procedure for payments for collection is regulated by law, which does not contradict banking rules. Collection operation is different in that the recipient of the funds, and not the payer, turns to the bank. For this reason, the international name “debit transfer” was adopted. When are collection payments applied? Only in two cases: when it is agreed between the recipient and the payer and, if such a calculation is prescribed by law.
The main form of non-cash payments in the bank is as follows: the recipient contacts the financial institution with an order to send the requirement to pay the payer in the prescribed form. The requirement form is affected by the selected billing document.
For collection, the following documents apply:
- Payment claim without acceptance.
- Payment claim with acceptance.
- Collection order.
Checks
Among 23 basic forms of cashless payments in the Russian Federation, checks stand out. This is the name of securities that contain the order of the drawer to the bank to issue a certain amount to the check holder. This security, as a rule, is issued as payment for goods or services. It is important to remember that issuing a check does not extinguish the monetary obligation with respect to which it was issued.
The payer on the check can only be a bank in which the drawer has funds. It is necessary that the owner of the money can freely dispose of them. You cannot revoke a check if it has expired. In addition to this point, the law regulates the procedure, as well as the conditions for the use of checks. Everything is registered in the Civil Code of our country.
In order to be able to pay by check, a contract must be concluded between the two parties or the corresponding condition is specified in the contract with the financial institution. Based on such a document, the owner receives a checkbook, which is made according to the requirements of the bank and the legislation on the details of the check. You can open a separate account from which funds will be debited upon presentation of a petition of the appropriate format.
Only the credit institution that issued it has the right to pay the check and this is done at the expense of the owner. As a rule, it is used for interbank settlements, if there is a correspondent agreement.
The check payer must verify by all means the originality of the check and also the checker's authority to manage the account. If the payer incurs losses due to the fact that he paid with a forged or stolen check, then the one who caused the trouble has compensated them.
The person who paid the check has the right to demand that it be handed to him along with a receipt that the payment has been received. This document is not only able to provide increased payment guarantees, there are still advantages. Among them:
- Irrevocable character.
- Equal opportunity with a security.
- Representative and order checks may be transferred from the check holder to other persons.
- The check holder may transfer the check to the bank for collection.
- Guarantee of payment in part or in full by aval.
- The check holder may demand that he be paid in case of refusal.
As you can see, accounting is impossible to learn in half an hour, but it's worth it to spend more. Do not forget that the more a person develops, the more he represents values, first of all, for himself.