Banking. Cashless payment system. Its role, elements. Forms of non-cash payments (the most important)

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Banking. Cashless payment system. Its role, elements. Forms of non-cash payments (the most important)

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Topic 76. System of cashless payments. Her role, elements. Forms of non-cash settlements

Cashless payments - these are calculations carried out between f.l. and y.l. without the use of cash by transferring funds through a bank from the settlement (current) account of the payer to the account of their recipient.

Cashless payments have found wide application in the development of the banking system.

Principles of organizing cashless paymentsA: 1. All enterprises and organizations are required to keep their funds in bank accounts. In the cash desks of enterprises it is allowed to leave the amount of cash within the established norms. 2. The vast majority of non-cash payments must be made through a bank. 3. The demand for payment must be made either before or after the shipment of the goods, so that payments are not delayed. 4. Payments are made from clients' bank accounts only with their consent. 5. Several forms of settlements and types of payments have been established, which enterprises can choose at their discretion. Non-cash payments help to reduce distribution costs in the form of additional costs for printing, storage, transportation, etc. The basis of non-cash payments is interbank settlements.

Forms of non-cash payments. According to this, the following instruments: Payment orders - this is a payment document containing the payer’s order to the bank to transfer a certain amount from his account to the recipient’s account.

Payments by checks. When paying by checks, the account holder (drawer) gives a written order to the payer (the bank that issued settlement checks) to pay a certain amount indicated in the check to the recipient of funds (check holder).

Letters of credit payments. A letter of credit is an instruction from the buyer's bank to the supplier's bank to pay the invoices of this supplier for the shipped goods or services rendered on the terms specified in the letter of credit application. The following types of letters of credit are opened for the buyer: 1. - covered (deposited) - these are letters of credit, at the opening of which the issuing bank that opened the letter of credit transfers the payer's own funds or the loan granted to him at the disposal of the supplier's bank to a separate account for the entire duration of the obligations under the letters of credit. 2. - an uncovered (guaranteed) letter of credit can be applied if 2 banks servicing settlement customers have correspondent accounts with each other. Each letter of credit must indicate whether it is revocable or irrevocable.

The advantage of this form of payment is that there is no delay in paying for products and services, the money is prepared in advance and the recipient of the funds is sure that he can immediately, even on the day of shipment, receive the money due to him.

Settlements by payment requests-orders. A payment request-order is a settlement document containing the requirement of the recipient of funds to the payer to pay a certain amount through the bank. Both forms are filled out by the supplier. The payment request - on his behalf, and the payment order - on behalf of the payer.

Settlement of payment requests. Payment requests are widely used in the acceptance form of settlements, when payments are not made immediately after the shipment of the goods and the issuance of trade documents. Having shipped the goods, the supplier issues payment requests in the appropriate number of copies and submits them for collection. The bank, accepting documents for collection, undertakes to send them on time to the bank institution serving the buyer, collect funds from him there and transfer them to the supplier's settlement account.

Payments in the form of plastic cards.

According to the economic content, debit and credit cards are distinguished. Credit cards are associated with the opening of a line of credit in a bank, which enables the owner to use credit when purchasing goods and when receiving cash loans. Debit cards are designed to receive cash from ATMs or purchase goods using electronic terminals. The money is debited from the cardholder's bank account.

Authors: Shevchuk D.A., Shevchuk V.A.

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