Actual problems of the money transfer market. The Russian money transfer market is a space of new opportunities
Suren Ayriyan, President of the International System remittances"Unistream"
The technical innovations accumulating on the market have transformed into clear-cut technological breakthroughs, which have given the segment new channels for sending money, made it an integral part of the industry. electronic payments... The point of "no return" was passed when it was possible to draw a clear line between them and money transfers. In this regard, speaking about the current state of the money transfer market, we should note not so much an increase in the volume and number of clients, which is the case, but a new understanding of the market itself and fresh directions, primarily such as terminals, mobile transfers, transfers via the Internet. , new information carriers in the form of maps and much more. Integration with the field of electronic payments and other high-tech areas has become the main driver of the money transfer market in the last year. This sector began to actively seek and conquer more and more new areas, including retail chains. Money transfer is becoming part of one common information technology cluster, where various related business areas are intertwined.
One of the planes reflecting this new reality was the movement of the market towards the "virtualization" of services, towards the departure from the classical method of sending funds ("operator - client")
If we talk about retail chains, they have become attractive to operators primarily due to their mass character, their growing popularity, convenient location and the fact that the technical base of retailers is ripe for integration with companies that carry out financial transactions, which, in particular, are money transfers. The average check for sending here is from 10 to 12 thousand rubles.
This market sector at one time made a tangible contribution to the development of another product segment: terminals. They, in turn, gave the green light to a contactless method of sending money.
Going to the terminal, the client finds the desired option on the screen, enters the data necessary for sending funds, inserts cash into the bill acceptor and that's it: the procedure is complete. The absence of a human factor, queues and unnecessary formalities, absolute superiority in number and density - all this has made the terminals one of the most popular dispatch channels.
Speaking in terms of turnovers, with the growth of "classics" at a rate of 20-30% per annum, and retail - at 60%, the volume of transfers through terminals demonstrates an increase of hundreds of percent.
The multiple growth of volumes embodied all the advantages that the terminals provided: from speed to convenience.
The terminals, having proved their efficiency and won the trust of customers, instantly went beyond the boundaries of simple shopping centers. Underground passages, railway and air terminals, large shopping centers, cinemas, etc. - all of them almost immediately became sites for placing terminals. They were followed by money transfers, giving a new aspect of quality "24 by 7".
Don't forget about profitability. Terminals can operate even in the smallest communities, including infrastructure such as remote railway stations.
All these obvious and seemingly obvious advantages are held back by only one drawback: terminals can only work for sending. This gave a powerful impetus to the development of a new sector, where money transfer operators were looking. The use of ATMs and bank cards, to which funds are transferred, is becoming a completely logical way out and a promising direction of activity.
Integration with large banks with extensive ATM networks turns, as a result, into a very attractive area for players who can apply for cooperation with powerful financial institutions.
The average check for terminals and ATM is only 5-6 thousand rubles, which is much lower than the "classic" (20-30 thousand rubles per transfer). However, this does not in the least affect the attractiveness of this sector, because mass character and unprecedented territorial coverage are coming forward.
The top of the ladder "from classic to virtuality" is now firmly occupied by the so-called mobile transfers (transfer from a mobile account via SMS) and transfers via the Internet. Every mobile phone and every computer can serve the purpose of sending money (the "point of departure" of a money transfer). Lightness, simplicity, complete contactlessness and extraordinary perspectives. At the same time, an unprecedented coverage network and minimal labor intensity of the entire process.
Here, the volumes were not so great, but the rates of their growth are impressive to experts: hundreds of times in a relatively short period of time.
At this level of market evolution, UNISTREAM has stepped forward, starting work with the giants of the mobile market (Beeline, Megafon) and preparing the basis for other important projects.
All the above-mentioned market development trends, of course, can be characterized as the opening of innovative sales channels and, already in the customer coordinate system, interesting options that give people new and new opportunities to send money, and for players - promising polygons for defending their interests and influence. In an environment of exceptional growth in competition and intensifying competition for the customer, new technology-intensive sending channels provide an extraordinary impetus to increase profitability and reduce costs, increase efficiency and convenience.
In parallel, such irreplaceable tools as unified customer cards are entering the market. They provide opportunities for instant identification, new applications and push players to create their own processing centers.
It is important to note that new product ideas, including retail and terminals, are distinguished not only by their perspective and novelty. They have become part of a sector where clients send money relatively small amounts, but regularly, and thus join civilized services. These channels do not seriously compete with classical channels (bank offices), but rather attract new customers to the civilized market who preferred to use the services of the gray market.
When talking about food cuts, there are certainly other aspects to consider.
The struggle for the client ends by means of a banal reduction of tariffs in many directions. Instead, new and new tools appear: options related to cards, terminals, specialized centers - a lot of interesting things that can be offered to the client and what is more relevant for him than a simple tariff reduction.
The struggle for the client has gone out into other planes. For example, translation speed. Instant translation has become a self-evident category.
Much attention is paid to the development and implementation of comprehensive loyalty programs. An example of this is UNISTREAM's unified customer cards, which set the tone for the entire forward movement on the card field in the money transfer segment. They were the key to completely minimizing translation time, starting bonus programs new level and many other applications.
A period of intensive development of addressless transfers has begun, when the sender indicates only the addressee's name and the country of his stay, and the recipient is given money at any point of the operator.
In the context of the movement from the transfer of contact to virtual translation, it is the recognition of the brands of the systems, their "promotion" both in the B2C and B2B spheres, has become more and more important.
There is also a clearly growing "internationality" of operators, their desire and ambitions to enter more and more new ones.
If speak about quantitative characteristics, then the market is growing at an average rate of 30-35 percent per year.
The last year and a half have opened a completely new page in the history of the money transfer market, determined a stable and irrevocable scenario for its development towards further integration into the segment of electronic payments. The intensive development of technologies has given the market completely different opportunities and new layers of the client audience. If earlier we talked about new products, then today we are talking about whole opening directions that this integration gives us in combination with the promotion of IT systems. We expect the rapid development of these trends in 2011 and 2012.
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Introduction
international money transfer
This thesis is devoted to an overview of modern money transfer systems for individuals, operating in large numbers on the world stage, and which have become quite common in our country recently.
The relevance of this topic is quite obvious, since more and more often in our life we come across these tools, and they are becoming more developed and diverse in our market. In addition, over the past five to six years, the Internet has burst into our lives with a rapid speed, along with its principles of communication, business and, naturally, its fundamentally new tools. money circulation and, in particular, money transfer systems. The speed of circulation of money supply has increased significantly, information technologies are rapidly developing, life itself has become more dynamic. All this necessitates the proliferation of fast and convenient money transfer mechanisms, in particular, for individuals, as well as the provision of a legislative, organizational and legal basis for their effective and safe use on the territory of Russia.
The purpose of this work is to identify the main trends in the development of international money transfer systems taking place in the context of intensified competition in this market in recent years and a sharply increased volume of remittance flows of international labor migrants.
To achieve this goal, the following tasks are set in the work, which determine the internal structure of the work:
1. Follow the history of the formation of money transfer systems.
2. Consider the impact of remittances of labor migrants on the development of international remittance systems at the global level.
Investigate the current state of the Russian market for money transfer systems.
Determine the position of each system in the money transfer market and their relationship with the growth of the migration process.
Using the example of JSCB "Almazergienbank" OJSC to analyze the activities of international money transfer systems.
Conduct a comparative analysis of banks in Yakutsk offering translation services Money across international systems money transfers.
The scientific novelty of this work lies in the fact that the market of international money transfer systems in the Republic of Sakha (Yakutia) has been little studied and is an attempt to study it.
The practical significance lies in the fact that the results of the analysis of the work carried out in the course of the diploma research can be used as an auxiliary, analytical material by the specialists of the banks of Yakutsk. The work can be used as a teaching material.
The object of the thesis is JSCB "Almazergienbank" OJSC. The subject of the research is the analysis of international money transfer systems.
Thesis consists of three chapters. The first chapter is called "The concept and classification of remittances from individuals". This chapter reveals the concept of remittances, examines the types of remittance systems, and pays special attention to global remittance systems as a result of the increase in the number of international labor migrants.
The second chapter is called
MOSCOW BANKING Institute
BANKING
COURSE WORK
on subject
"Bank operations"
on the topic:
"Money transfers of individuals"
Students of group 2-BD-5
Fayzieva Alina Raisovna
Supervisor:
Gallyamova Anna Zakharovna
Moscow 2009
Introduction ………………………………………………………… 3
1.1. Basic concepts and definitions ……………………… ..4
1.2. General Provisions…………………………………………6
1.3. Basic conditions for money transfers …… ..14
2.1. The current state of the money transfer market …… 24
2.2. . Errors when making money transfers to individuals and possible ways their elimination ……………………… ..30
Prospects for the development of the money transfer market ... ... ... ... 36
Conclusion …………………………………………………… ..39
List of used literature …………………………… 40
Introduction
Money is a source of energy
J.M. Keynes
Money transfers by individuals are regulated in Russia by Federal Law No. 222-P of April 1, 2003 "On the Procedure for Making Cashless Payments by Individuals in Russian Federation».
Under individuals means citizens whose non-cash payments are not related to the implementation entrepreneurial activity.
Non-cash settlements are carried out by individuals through credit institutions (branches) licensed by the Bank of Russia, which provides for the opening and maintenance of bank accounts of individuals and / or transfers of funds on behalf of individuals without opening bank accounts (except for postal transfers).
In this term paper I tried to analyze the basic principles of making money transfers both with opening an account and without opening an account.
Chapter 1 will discuss the general terms and conditions for making transfers to individuals.
Chapter 2 presents the current state of the money transfer market, what money transfer systems exist today, what are their advantages and disadvantages, as well as what mistakes are made and possible ways to eliminate them.
Chapter 3 describes the most important trends and prospects for the development of the money transfer market.
Chapter 1
1.1. Basic concepts and definitions
For the purposes of this coursework used the following concepts, definitions and abbreviations:
Remittance- the amount of cash intended for payment to the recipient specified in the sender's order.
Contract- an agreement concluded between the Organization and the Bank, on the basis of which the Bank carries out Transfers on behalf of the Payers in payment for goods (services) of the Organization with subsequent crediting (transfer) to the bank account of this Organization.
Contract- an agreement, as well as additional agreements to it, concluded between the Organization and the Bank, according to which the Bank, on behalf of the Organization, carries out operations of receiving and issuing cash from Clients on various systems money transfers.
Cashier- cashier of the operational cash desk of the Authorized division of the Bank.
Client- an individual (resident or non-resident) depositing or receiving cash in the Bank's Authorized Money Transfer Division.
Clearing bank- a bank that carries out mutual settlements between the sender's bank and the recipient's bank.
Controller- an employee of the Authorized Subdivision of the Bank, authorized to draw up and record documents on operations performed. In the Authorized subdivision - the operational cash desk outside the cash desk, the functions of the Controller can be performed by the Cashier.
Non-resident ( non-resident ) - an individual who has permanent residence abroad and is temporarily in Russia.
Operator- an employee of the Authorized Subdivision of the Bank, whose duties include execution of Money Transfers.
Operation day- the time that is a part of the working day during which funds transfer operations are performed in the Authorized Unit.
Operating cash desk- the cash desk of the Authorized subdivision, which accepts the Payer's funds for the subsequent Transfer.
Sender- an individual who instructs the sender's bank to send a money transfer.
Recipient- a natural or legal person who is the recipient of the money transfer.
Resident ( resident ) - an individual who has a permanent place of residence in Russia, as well as temporarily located outside of it.
Authorized units- structural subdivisions of the Bank (additional offices, operational cash desks outside the cash office of the Bank, branches) that service Clients on money transfers.
1.2. General Provisions
When making a Transfer of funds outside the Russian Federation, an individual who is resident Of the Russian Federation, has the right within one operating day transfer foreign currency or the currency of the Russian Federation in an amount not exceeding the equivalent of USD 5,000.
For an individual - non-resident the amount of foreign currency transfer from the Russian Federation is not limited.
Foreign currency in favor of an individual can be transferred to the Russian Federation without limiting the amount.
Funds in rubles of the Russian Federation between individuals - residents and between individuals - non-residents on the territory of the Russian Federation can be transferred (received) without limiting the amount.
Transfers in the territory of the Russian Federation in foreign currency can be carried out between individuals who are non-residents.
a resident on the territory of the Russian Federation cannot send to an individual - non-resident, but he has the right to receive funds from an individual - non-resident.
Cash in rubles of the Russian Federation an individual -
a non-resident on the territory of the Russian Federation has the right to send to a resident individual to an account with an authorized bank.
The residence of an individual is determined by the documents submitted by the individual and the available information about the recipient or
payer. To determine the currency residence of an individual who is a foreign citizen or stateless person, when making a Money Transfer, in addition to an identity document, an individual must submit to the Bank a document confirming his right to stay in the Russian Federation.
Transfers of more than $ 7,500 equivalent require separate authorization from the Organization's Service Center.
Residents must make all transfers for foreign exchange transactions from accounts with authorized banks, with the exception of certain transactions related, in particular, to donation, inheritance. Non-residents on the territory of Russia have the right to open bank accounts in foreign currency and the currency of the Russian Federation only in authorized banks and carry out transactions on them in the manner established by the Central Bank.
The withdrawal of funds from the current account of an individual is carried out by the bank at the order of the account holder or without his order in cases stipulated by law, on the basis of settlement documents within the limits of the funds available on the account.
Passport or other identity document in accordance with the legislation of the Russian Federation (hereinafter - identity document);
- "Card with samples of signatures and seal imprint" form 0401026 of the All-Russian classifier of management documentation OK 011-93 (hereinafter - card form 0401026), drawn up in accordance with the procedure established by the Bank of Russia.
Other documents provided by law and / or the bank account agreement.
Settlement documents are filled in by individuals using office equipment, computers or by hand with a pen with paste or ink in black, blue or purple. When filling out settlement documents using office equipment or by hand, the second and subsequent copies of settlement documents can be made using black, blue or purple copy paper. It is allowed to use the second and subsequent copies of settlement documents obtained by duplicating equipment, provided that the copying is made without distortion.
When an individual transfers funds from his current account to the bank account of a legal entity or to the current account of an individual, as well as to other accounts (account for deposit accounting, account for payments using bank cards), including the accounts of the payer himself in the settlement document in the field "Payer", if an individual is a payer, in the field "Beneficiary", if an individual is a recipient, the full name, surname, name, patronymic (unless otherwise follows from the law or national custom) (hereinafter - full name ) of an individual from whose account (to account) funds are transferred. When transferring funds by an individual in the settlement document, the taxpayer identification number (TIN) of the individual (if any) is indicated in the payer's "INN" field, or in the "Payer" field - after the full name. in brackets, the address of the place of residence (registration) or place of stay, or the date and place of birth (hereinafter - other information about the payer established by law). When specifying the address of the place of residence (registration) or place of stay or place of birth, it is allowed to use abbreviations that make it possible to definitely establish this information about the payer, when specifying the date, it is allowed to use the format DD.MM.YYYY.
The procedure and conditions for carrying out operations to transfer funds on behalf of individuals without opening a bank account are communicated to individuals in an accessible form, including by posting information in customer service points, including internal structural divisions of the bank, and are considered accepted by an individual when he signs a document for the transfer of funds.
Banks carry out operations to transfer funds on behalf of an individual without opening a bank account on the basis of a document submitted by an individual. The form of a document intended for submission / filling by individuals when transferring funds without opening a bank account is established by banks or by the respective recipients of funds to which payments are sent, provided that the document or the agreement between the bank and the recipient of funds provides for all necessary transfer of funds details, as well as the taxpayer identification number (TIN) of an individual (if any) or other information about the payer established by law, on the basis of which banks fill out payment order.
When transferring funds received from individuals to the address of one recipient, the payment order can be filled out by the bank - the sender of the payment for the total amount, with the subsequent transfer of the documents filled out by individuals in accordance with the terms of the agreement providing for the obligation of the bank - the sender of the payment to send documents to the recipient of the payment , as well as the responsibility of the sender's bank for failure to fulfill the obligation. The payment order is filled in and executed by the bank by the sender of the payment in accordance with the requirements for filling out settlement documents established by the Regulation of the Bank of Russia No. 2-P.
To provide Transfers to individuals without opening an account, the Bank concludes an agreement with the relevant Money Transfer System. Through the money transfer system on behalf of individuals without opening bank accounts, a Russian bank can carry out:
Sending money transfers from individuals in rubles of the Russian Federation without opening a bank account across the territory of the Russian Federation in favor of individuals and legal entities;
Sending money transfers from individuals in rubles and foreign currency without opening a bank account outside the Russian Federation in favor of individuals;
Payment to individuals of money transfers received without opening a bank account from individuals across the territory of the Russian Federation in rubles;
Payment to individuals of money transfers received without opening a bank account from individuals from outside the Russian Federation in rubles and foreign currency.
In accordance with the currency legislation of the Russian Federation, banks carry out money transfers that do not require an operation on a special bank account and are private money transfers (in favor of individuals) or payments for goods and services (in favor of legal entities), and are also not related to transactions capital movement. The bank carries out operations in next order:
Sending and payment of money transfers of individuals and legal entities, carried out between residents, as well as between residents and non-residents in rubles on the territory of the Russian Federation - without restrictions;
Sending money transfers from resident individuals from the Russian Federation in rubles and foreign currency - for an amount that, within one business day, cannot exceed an amount equivalent to $ 5,000 (Five thousand), determined using official rates foreign currencies against the ruble, established by the Central Bank of the Russian Federation as of the date of registration of the application for a money transfer;
Sending money transfers from non-resident individuals from the Russian Federation in rubles and foreign currency - without restrictions;
Payment to individuals - residents and non-residents of money transfers received in the Russian Federation in rubles and foreign currency - without restrictions.
Money transfers between non-residents in rubles on the territory of the Russian Federation are not carried out.
When sending / paying money transfers, the commission from the sender / recipient is charged in accordance with the current tariffs of the bank. The distribution of the commission between the bank and the clearing bank and (or) the transfer system is carried out in accordance with the terms of the concluded agreement. Personal accounts to reflect sent / received money transfers on the bank's balance sheet are opened at the time of receipt / sending of the transfer.
When making transfers, the Client has the right:
Send money transfer;
Receive a money order;
Change the details of the sent money transfer (financial and not financial changes, while financial changes are possible only on the day of departure within ± 10% of the original transfer amount);
Cancel the sent money transfer and receive it (if the transfer is not paid to the Recipient), including the amount of the paid commission (by the decision of the Organization).
Changes to the sent transfer or its cancellation are carried out in the Authorized department in which the transfer was accepted.
The Bank's liability to Clients has the following limitations:
When accepting funds - continues until the receipt of information about the acceptance of the transfer by the relevant System;
When issuing funds - arises from the moment of receiving information about the availability of the required transfer in the System.
1.3. Basic conditions for money transfers
Deposit transfers
Commercial banks fulfill the instructions of depositors to transfer deposits in rubles and foreign currency (the entire deposit or part - for those types for which the possibility of paying part of the deposit is provided for by the terms of the agreement). For the execution of transfers of deposits, a fee is charged in the cases and in the amount determined by the bank tariffs.
Banks make transfers only to the name of a specific individual. The transfer of a deposit in foreign currency is carried out only in the name of the depositor or heir.
The basis for the transfer is a written application of the established form, which is drawn up and signed by the depositor, his representative, heir.
To transfer several deposits from one bank, the depositor can make one general statement with an indication of the account numbers and amounts for each deposit.
The application for the transfer of the deposit of a minor depositor is signed by the person who manages this deposit. When transferring a deposit made by a minor between the ages of 14 and 18, the depositor signs the application. Such a contribution can only be transferred to his name.
Together with the application for the transfer of part or all of the deposit amount, a passbook must be submitted, and if the entire deposit is transferred and the account is closed, then a bank deposit agreement must also be submitted.
The transfer of a deposit opened by enrollment, for which a savings book was not issued, and the depositor's sample signature was not received, when requested by the bank to which the deposit is transferred, it can be carried out only in full amount together with the interest due.
The depositor is given the right to give the bank where the deposit is kept, a long-term order to transfer the amounts from this deposit. Such transfers from deposits in rubles can be performed both in the name of the depositor himself and in the name of other persons indicated by the depositor in the order; transfers of amounts from deposits in foreign currency are carried out only in the name of the depositor.
The person who has issued an application for the transfer of a deposit may give a written order to cancel it. The order is given to the bank that maintains the depositor's personal account or that has accepted cash for transfer, or to the bank where the transferred amount is sent. The order indicates to which account the refundable amount should be credited on the deposit.
If the transferred amount is credited to the deposit account, it will be returned on the basis of the depositor's application, in whose name this account is opened.
Acceptance and withdrawal of funds without opening an account
The procedure and conditions for carrying out operations to transfer funds from the Russian Federation and to the Russian Federation on behalf of individuals from an account and without opening a bank account, as well as the UB's obligations to pay the transfer received in the Russian Federation, are established by the UB in accordance with the requirements of the legislation of the Russian Federation and the Bank's regulations. Russia. In addition, information on the procedure and conditions for UB operations to transfer funds from the Russian Federation and vice versa on behalf of individuals without opening a bank account should be posted on the stand and is considered communicated and accepted by an individual when he signs a document for transferring funds.
Any variant of money transfers, and there are a lot of them in the world, allows you to transfer funds only within one system. This means that you can send money only to that country and to the city where there are agents or representatives of the system. In Russia, money is sent only between banks that have entered into an agreement with a particular system and act as its agents. In other countries, the functions of an agent can be performed not only by banks, but also by other organizations, up to stores. Some Russian banks provide their clients with several money transfer systems at once.
Funds in money transfer systems are accepted and issued only in cash, and are “transported” in electronic (non-cash) form through modern data transmission channels. This provides a high speed of translation - from several minutes to a day. Most systems transfer funds without opening an account only between individuals, although some transfer systems allow you to transfer money from individuals to legal entities and vice versa.
When accepting cash Client's employee of the Bank:
1) informs the client wishing to make a transfer:
About rates for transfers;
About the currency in which the transfer will be paid in the country of destination;
About the current exchange rate;
On additional services for notifying the recipient about the transfer: delivery of the check to the address, notification by phone, security questions, additional messages;
On the restrictions that exist in this country on money transfers;
On the presence of a money transfer system point in the city indicated by the sender and the address of this point.
2) Finds out from the client the country, city of destination, currency, the amount of the transfer, the need for additional services, informs the Client of the amount of the commission charged for this operation, and the total amount that the client must pay to the Bank's cash desk;
3) Asks the client to fill in the client part of the letterhead for sending funds;
4) Accepts an identity document from the client and determines its status (resident, non-resident) regarding the existing restrictions on the amount and the possibility of making a transfer. If there are restrictions, it offers the client to change the terms of the transfer.
In accordance with the legislation of the Russian Federation, the documents proving the identity of an individual, upon presentation of which the bank makes a money transfer, are:
for residents
:
citizens of the Russian Federation :
Passport of a citizen of the Russian Federation;
General civil passport;
Seaman's passport;
Diplomatic passport;
Serviceman's identity card (in addition to the certificate, a certificate of registration at the place of residence of the serviceman is presented);
Military ID (valid only during military service);
Temporary identity card of a citizen of the Russian Federation, issued by an internal affairs body before a passport is issued;
foreign citizens :
stateless persons :
Residence permit in the Russian Federation;
for non-residents :
citizens of the Russian Federation :
General civil passport with a mark of permanent residence abroad of the Russian Federation;
foreign citizens :
Passport of a foreign citizen (in addition to the passport, migration card and (or) an entry visa and a certificate of temporary registration at the place of stay in the Russian Federation or a temporary residence permit in the Russian Federation);
stateless persons :
Temporary residence permit in the Russian Federation;
refugees:
Refugee ID;
Certificate of consideration of an application for recognition of a person as a refugee issued by a diplomatic or consular institution of the Russian Federation or by an immigration control post or territorial body federal executive power for the migration service.
A money transfer, depending on the requirements of the sending / receiving bank, can be carried out upon presentation of a driver's license.
Also, a money transfer can be carried out on the basis of a power of attorney drawn up in the proper manner:
The power of attorney must be notarized;
A power of attorney for the disposal of property is not accepted if it does not stipulate the right to receive / send funds from bank accounts;
The power of attorney may be certified by the embassy (consulate) of a foreign state in the Russian Federation or by the embassy (consulate) of the Russian Federation abroad;
A power of attorney in a foreign language is submitted to the bank along with a certified translation into Russian;
The original (if only the right to make a money transfer is defined by the power of attorney) or a copy of the power of attorney, certified by a bank employee, is placed in the documents of the day along with the application for a money transfer.
5) Checks the correctness and completeness of the information required when filling out the letterhead, and then directs the client to the cashier.
7) Informs the client about the need to personally notify the recipient of the transfer amount and control number, if the notification service was not ordered by the sender.
Since August 2001, Federal Law No. 115-FZ "On Counteracting the Legalization (Laundering) of Criminally Obtained Incomes and the Financing of Terrorism" came into force, the requirement of which is mandatory control of any operation on the accounts of individuals in the event that the amount for which it is performed, is equal to or exceeds 600,000 rubles, or is equal to or exceeds the amount in foreign currency equivalent to 600,000 rubles, and by its nature, this operation belongs to one of the following types of transactions:
Crediting or transferring funds to an account, if at least one of the parties is an individual registered in a state that does not participate in international cooperation in the field of combating money laundering and terrorism financing;
Crediting or transferring funds to an account, if at least one of the parties is a person who owns an account with a bank registered in the specified state;
Operations on bank accounts of individuals with registration of bearer documents;
Transfer of funds abroad to an account opened for an anonymous owner, and receipt of funds from abroad from an account opened for an anonymous owner.
In cases where non-residents make money transfers in excess of the amount equivalent to $ 5,000 (Five thousand), determined using the official exchange rates of foreign currencies against the ruble established by the Central Bank of the Russian Federation as of the date of the application for a money transfer, a bank employee must make copies of documents confirming the status of an individual as a non-resident of the Russian Federation, certify them with your signature. When an individual (resident and non-resident) makes a money transfer / money transfers for a total amount equal to or higher than the equivalent of 600,000.00 (Six hundred thousand) rubles, determined using the official exchange rates of foreign currencies against the ruble established by the Central Bank of the Russian Federation on the date of registration of the application for the money transfer, the responsible employee must, on the basis of the sender's documents, fill out the client's questionnaire in accordance with the form approved by the bank. The questionnaire is drawn up:
In relation to an individual performing a transaction;
In relation to an individual, on behalf of and on whose behalf the operation is performed;
In relation to a representative of an individual performing a transaction with funds.
If a bank employee identifies the facts of splitting money transfers sent (from the same sender in favor of one recipient), the client's questionnaire must be filled out if the amount of transfers becomes equal to or exceeds the equivalent of 600,000.00 (Six hundred thousand) rubles, determined using official rates foreign currencies against the ruble, established by the Central Bank of the Russian Federation as of the date of registration of the application for a money transfer, for one business day Upon the execution of a money transfer / money transfers, a bank employee is obliged on the same day to send information about the sender and about the operation / operations to the bank employee responsible for drawing up the report in accordance with the requirements Federal law from 07.08.2001 N 115-ФЗ, in the order established in the bank. In the presence of the sender's surname in the list of persons involved in terrorist activities, the responsible employee, regardless of the amount of the transfer, takes actions determined by the bank's internal procedures.
An example is the following set of actions:
If, according to the presented document, it turns out that the sender is not the person who is on the list, the bank employee makes a copy of the document as confirmation of this fact. A copy of the document is placed together with the application for the money transfer;
Otherwise, he makes a copy of the document, addresses the sender with a request to fill out the client's questionnaire and suspends the operation. Information about the fact of identifying a person involved in terrorist activities is immediately communicated by internal order to the security service, the internal control service and the bank employee appointed by the order for the bank responsible for the development and implementation of internal control rules in order to counteract the legalization (laundering) of proceeds from crime , and the financing of terrorism, and programs for their implementation.
Based on the information received from the sender and specified in the application for sending the money transfer, the bank employee enters the data into the software package. In the software package, the money transfer is automatically assigned an identifier, which is communicated to the sender.
Features of sending money transfers to legal entities
Individuals carry out money transfers in favor of legal entities whose activities are related to the sale of goods to the population, the provision of works and services. The list of organizations to which money transfers are made is determined and provided by the money transfer system. The method of sending money transfers to legal entities is similar to sending money transfers to individuals. When a client contacts a bank institution to make a money transfer in favor of a legal entity, the responsible employee answers the questions that arise, informs the client about the conditions for making a money transfer, the commission charged when sending a money transfer.
Money transfers in favor of certain legal entities for certain amounts can be carried out by individuals (residents and non-residents) without presenting an identity document, if this is not required by the current legislation of the Russian Federation.
When dispensing cash For clients, an employee of the Bank:
1) Finds out from the client who wants to receive funds, information about the transfer: full name. the sender, place of departure, unique control number, transfer amount, answer to the security question (if any), while knowledge of the control number is not required, but knowledge of only the control number is not sufficient to issue a transfer;
2) Checks the availability of the given transfer;
4) Asks the client to fill out the client's part of the letterhead to receive funds;
5) Checks the correctness and completeness of the information required when filling out the letterhead to receive funds.
The transfer amount or part of the transfer can be issued in a currency other than the transfer amount, including if it is necessary to issue a fractional part of a foreign currency unit to the Client. In this case, it is necessary for the client to issue an Application for receiving funds (transfers to the Russian Federation, across the territory of the Russian Federation).
The possibility of making changes to the sent transfer is provided in order to promptly change the conditions of the transfer, to eliminate errors and inaccuracies made by the client and / or employees of the Bank.
The following non-financial changes can be made to the sent, but not yet paid transfer, at the initiative of the client:
Change of country and city of destination;
Change of the name of the recipient and / or sender;
Adding a security question.
Change of the transfer amount and transfer fee at the initiative of the Client
possible for a still unpaid transfer only on the day of departure within ± 10% of the original transfer amount.
If the transfer is sent erroneously without the Client actually depositing funds, the transfer is immediately canceled at the initiative of the Bank.
A money order can be returned to the sender if it has not already been received by the recipient.
Chapter 2
2.1. Current state of the money transfer market
How often it happens that thousands of kilometers away from us, a loved one urgently needs our help ... Financial. The postal money order used by our fathers and mothers, grandmothers and grandfathers has long failed to meet the requirements of the rapid pace of our life - sometimes, and quite often, a person simply cannot wait a week for the money to reach him. And if he is in a different country altogether? Until recently, the concept of "money transfer" did not include many possibilities: postal order, wire transfer, or bank "cash to a savings bank" or "from a savings bank to a savings bank". They were all slow and rather uncomfortable. Therefore, in this Chapter I would like to analyze the prospects for the development of money transfers without opening an account.
The transfer of funds should be as fast as possible, because there are all sorts of situations in life, and sometimes the health and life of a person depends on the speed of money delivery.
This is why almost instant money transfer systems based on computer and network technologies have begun to be created all over the world. The following requirements are imposed on such a transfer system: reliability, speed, convenience .
Every money transfer is protected modern system security.
Television commercials of express money transfer systems are standard: a strong miner (a young stewardess, a respectable businessman, etc.) walks into a bank branch, addresses a girl at the counter, fills out a form and gives away bills. Next shot: happy parents (fiancee, student son, etc.) take cash from a bank on the other side of the earth. In the finale, a life-affirming slogan like "we are transferring not just money" is required. Such videos are not uncommon on TV, today many people want to declare themselves with the help of TV advertising Russian systems, because recently they had to intensify the struggle for a very promising market.
Choosing the right money transfer option is not easy. Today in Russia there are about 20 systems. Leading positions in terms of service and real opportunities for making transfers around the world are occupied by international systems - Money Gram, Western Union and Travelax. They are the most technologically advanced, they have the widest geography of translations. This is enough large systems of this kind in the world. Moreover, they are well known and promoted not only in banking, but also among the population. But, in my opinion, given the realities of the Russian market, these systems have a very significant drawback: they are, as it were, designed for people from economically developed countries, who have high enough earnings, which are inherent in a certain mentality. More specifically, the same Americans and Europeans are accustomed to the fact that for Banking services you have to pay and pay dearly, because these services provide security and reliability.
The patriarch in our market is Western Union, which has been operating in Russia since 1991. Research firm Aite Group estimates that Western Union accounts for 20% of the global money transfer market. In 2007, this payment system made over 375 million transfers worldwide from more than 200 countries. Now in the CIS countries more than 20 thousand customer service points are connected to the Western Union system, and in Russia - more than 5 thousand. Whereas in the early nineties the company began operations in Russia, Russia was the recipient country: the number of remittances from abroad was higher than from the country. Those who left the USSR sent the earned money to their homeland to support their relatives and friends. For several years, Russia has been a sending country for remittances, since it receives many labor migrants from the CIS countries. The growth of population migration has stimulated the demand for money transfer services. In turn, the high demand for this service contributed to the expansion of the number of market participants and a gradual decrease in average market rates.
The international giant Western Union signed an agreement in 2006 with Russian Post, the largest Russian player in the transfer market. Thanks to this, he gained access to many of its branches in the regions. The operators, as they say, have divided the clearing: with Western Union, you can make a transfer from the provinces only abroad, and money inside the country, as before, is sent by regular postal order or using the CyberMoney express system.
Currently, we have an indisputable fact that our money transfer systems work quite effectively and quite competitively on the domestic market and on the market of the CIS countries, which have already ousted the recognized market leaders: Anelik (from Armenia), PrivatMoney (Ukraine), Unistream (Russia), Migom (Russia) and others. This fact has its own natural explanation and reasons. By Russian legislation money transfers of individuals without opening an account, exclude transfers of an entrepreneurial nature. That is, we are dealing with translations that can be characterized as help.
According to the Central Bank, migrants working in Russia last year sent remittances to their ethnic homeland totaling 4.5 billion rubles - a million more than a year earlier. The main volume falls on Ukraine, Moldova, Tajikistan and Uzbekistan. The average transfer amount is $ 470 per month. According to experts, the illegal export of funds from Russia to the near abroad is 10-12 billion dollars.
Judging by recent events, the Russian money transfer market has become more specialized and aligned with the Western pattern. The activity of Russian financial organizations that have taken up the development of transfer systems is facilitated by the growth of migration to the country from neighboring states. After all, the traditional clients of "translators", in spite of TV spots, are by no means flight attendants and businessmen, but guest workers. The bulk of transfers from Russia falls on Ukraine, Uzbekistan, Tajikistan, Armenia, Azerbaijan, Georgia and Moldova. According to experts, despite the fact that no more than 50% of translations in the country go through legalized companies today, the trend towards an increase in demand for the services of licensed "translators" is very high.
If we talk about the security of domestic systems, then in general they are not inferior to Western counterparts. In terms of information technologies we have sufficiently highly qualified specialists who, in my opinion, are in no way inferior to their Western colleagues in professionalism. In what, after all, domestic money transfer systems are inferior, such as Money Gram and Western Union, is the urgency of transfers. So, for example, using Western Union services, you can receive a transfer in any country in the world within half an hour, or even less. But I would like to note once again that, unlike domestic systems, Western Union has been operating in this market for about a century. Therefore, the successes of our systems are really great and will still make themselves felt. But the speed of translation is extremely important for the “captains” of big business. For citizens of small and medium income, who transfer money to their families to ensure their accommodation, in the overwhelming majority of cases, the difference of half an hour or an hour, of course, does not matter much.
In the first nine months of last year, the systems transferred more than $ 3.4 billion from Russia. “According to our estimates, the volume of the CIS remittance market is 12-13.5 billion dollars,” says Suren Ayriyan, director of the Unistream money transfer department. Banks understand: as in any growing market, the situation is changing rapidly, and now there is an opportunity to grab a piece of the pie. Currently, there are 20 systems on the market, but the growing competition encourages the emergence of new projects. “Every bank that has a relationship, apparently, considers the creation of its own money transfer system as its integral contribution to the development of the country's economy,” laughs Sergey Kochergin, Deputy Director for Eastern Europe at Travelex Money Transfer. "Over the past year, the number of such systems in the region has doubled."
Money transfers generate a constant fee and commission income, independent of either market conditions or the rates of the Central Bank. Transferred money - received a commission. This is every banker's dream.
In addition, due to transfers, banks significantly expand their client base, because a citizen who uses the service can pay attention to other products of the credit institution.
CONTACT is gaining more and more popularity - it is the first Russian system of international money transfers in US dollars, EURO-currency, as well as in the currency of the Russian Federation both within Russia and abroad on behalf of individuals without opening a bank account for them. The system is based on a network of Russian and foreign correspondent banks and specialized companies licensed to provide services to individuals. JSCB RUSSLAVBANK (CJSC) performs the functions of the Clearing Bank, which include: Organizational, Settlement and clearing, Information and technical, PR support. The geography of the system is more than 27 thousand service points in 79 countries of the world. More than 11 thousand people use its services every day. In 2006, the volume of money transfers carried out through the system amounted to more than 900 million, and from March 2006 to March 2007 the volume of transactions exceeded 1 billion dollars. The advantage of the system is that in addition to money transfers, it provides customers with a whole range of services. In Russia, using CONTACT, you can pay off consumer loans, replenish various accounts, pay for the services of cellular, satellite and TV operators, travel and insurance companies, as well as the Internet, IP-telephony, etc.
Active competition for the system bank transfers is currently being implemented by the Russian Post with its Cyber-Money project. About 45 thousand post offices throughout Russia became participants in the project. However, the delivery time of money to the addressee remains rather high.
There is also another very serious competitor on the market - Sberbank of the Russian Federation. He launched the Blitz urgent money transfer system based on the use of modern banking technologies and high-speed communication channels. As the press service of Sberbank of Russia told Nezavisimaya Gazeta, more than 7 thousand are already connected to work. structural units bank, and by the end of the current quarter their number will increase to 7.5 thousand. The main advantage of the Blitz system is the transfer speed, which is no more than one hour from the moment of departure. Thanks to the wide network of Sberbank, the service becomes available to a large circle of citizens. It is important that the client deals with one bank, which is fully responsible for the service as a whole. This determines the absolute reliability of the translation. The advantages of Blitz urgent money transfers include an affordable transfer fee. The size of the commission is 1.75% of the amount, but not less than 100 rubles. and no more than 2,000 rubles. Maximum amount transfer - 500,000 rubles.
There are other systems as well. The main thing is to correlate your needs with the geography of each system, the speed of money transfer and tariffs.
2.2. Errors in making money transfers to individuals and possible ways to eliminate them
Money transfer is a service provided by many Russian banks. The volume of such operations is constantly increasing, but the number of errors that occur during the implementation of translation operations is not decreasing. But avoiding mistakes means reducing the cost of the process.
The volume of money transfers carried out by individuals through credit institutions has grown significantly in recent years. The frequency of individuals turning to banks to carry out such operations has also increased.
This situation in the banking services market is primarily due to the great interest of banks in attracting individuals to service, the expansion of retail products offered, as well as the growing public confidence in the banking sector.
However, it is no secret to anyone that the growth in the volume of such operations entails an increase in the number of errors in their implementation. In this regard, it becomes necessary to analyze the most common mistakes when transferring funds by individuals through credit institutions.
The following groups of errors can be distinguished that accompany money transfer operations:
· Failures in the computer system;
· Operational errors;
· Errors of the translator when filling out the payment order form.
Crashes in the computer system
The share of this type of errors in the implementation of non-cash payments by individuals through credit institutions is insignificant and usually, as practice shows, does not exceed 3%.
A technological failure caused by the load on the server and the network causes delays in sending payments and receiving funds.
Disruptions in the operation of the ATM network can cause delays in the receipt of funds to the accounts of individuals for further repayment of loan debts.
Operational errors
Approximately a quarter of all errors in the transfer of funds are made by the teller when processing payment orders. This percentage is due to the increased volume of transactions and, as a result, an increase in the workload on the operator. Insufficient qualification of the clerk (which can be caused by staff turnover) is also the reason for these types of errors. This is the so-called human factor, which is most often triggered when processing orders filled in by hand.
In addition, the increase in the number of errors is facilitated by the uniformity of payments (replenishment of their own accounts, transfer of funds to pay off loan debt).
Translator errors
This category of errors accounts for the largest share. According to the testimony of bank employees, the time spent on servicing one client has recently been forced to decrease due to an increase in the number of transactions and an increased number of subjects filling out documents for transferring funds.
So, filling out a payment order when applying for a loan for the purchase of a car and making a payment in favor of a car dealership is often done by an employee of a car dealership. And the borrower, without going into the correctness of filling, only puts his signature on the payment order.
Reduction of this kind of errors is possible with a detailed explanation of the payment order filling scheme by the bank employee to the translator. It is necessary to provide consulting services to the employees of car dealerships, and provide individuals with instructions for filling out the payment order form. In addition, when paying off a debt to a bank on a loan, the borrower can use the method of depositing funds through an ATM.
A significant decrease in the share of errors occurs if the client is freed from filling out the payment order form. This is an opportunity when concluding a general agreement with a bank for a transfer own funds client. Let's say the client provides service bank on its own behalf, the right to dispose of your card account for further repayment of loan debt. Such an order takes effect in the absence of funds on the account to repay the loan and enables the bank to carry out the operation of transferring funds from one client's account to another. Carrying out this operation does not require the presence of the client and filling out the payment order form. At the same time, the borrower can be sure that the debt will be repaid on time.
This category of errors also includes the lack of funds for making a payment on the account of the originator. When transferring a payment order to a bank employee, the latter must, without fail, verify that the funds on the client's account are sufficient to carry out this transfer. However, as mentioned above, the uniformity of operations and the increasing workload on the operators lead to the bank accepting a payment order with the impossibility of its implementation due to insufficient funds on the client's account.
The question arises: who is responsible for this error? In my opinion, the translator. Indeed, it is in his interests to transfer the amount to the recipient, and the responsibility for the sufficiency of funds on the account lies with him. The task of the bank employee in this case is to familiarize the client with the bank's tariffs and, if this is a calculated value, explain how the amount of the transfer fee can be determined.
In accordance with Regulation No. 222-P, an application for transferring funds from an individual's account must contain the following details:
· Name of the settlement document and form code;
Number of the settlement document, day, month and year of its issue:
· payment type;
· The amount of the payment, indicated in words and numbers;
· Name of the payer, his account number, taxpayer identification number (TIN);
· Name and details of the payer's bank, bank identification code (BIC), number of the correspondent account or subaccount;
· Name of the recipient of funds, his account number, taxpayer identification number (TIN);
· Name and details of the beneficiary's bank, bank identification code (BIC), number of the correspondent account or subaccount;
· purpose of payment;
Type of transaction in accordance with the Accounting Rules of the Bank of Russia and credit institutions located on the territory of the Russian Federation;
· Signatures of authorized persons.
When carrying out operations to transfer funds on behalf of individuals, errors are most often encountered in filling in the following fields:
Name of the recipient
Beneficiary's account number
· Taxpayer identification number (TIN).
Recipient's name
This problem is relevant for translations coming from non-residents and coming in their favor, and consists in the correct writing of data in Russian. Untimely notification of the change in the name of the recipient serves as a reason for clarifying the details of the transfer. In such a situation, the client must provide the bank with a document confirming these changes.
Beneficiary account number
The mistake in specifying the beneficiary's account number is one of the most common. The discrepancy between the recipient's account number and its name is the reason for clarifying the details of the transfer.
It should be noted that all clarifications of the recipient's details are carried out by the bank for a commission in accordance with the approved tariffs. The term for clarifying the details of the recipient is set by the bank independently, but must not violate the requirements of the Bank of Russia. In accordance with the Regulation of the Bank of Russia dated 03.10.2002. No. 2-P "On non-cash payments in the Russian Federation" to clarify the details of the recipient, the bank is given a period of 5 working days. If after the expiration of the specified period the problem is not resolved, then the amount is returned to the payer by a payment order drawn up in accordance with the requirements of the Bank of Russia.
In addition, when making money transfers by individuals, you should pay attention to the purpose of the transfer. Until recently, such transfers were mostly non-commercial in nature.
However, the development of civilized market relations begins to affect the nature of remittances. The volume of commercial payments is increasing. An increasing volume is made up of payments from individuals to pay for various services. At the same time, one should not only remember that it is necessary to avoid errors typical for such transfers, but also pay attention to the correct filling of the "Purpose of payment" field.
Taxpayer identification number (TIN)
Incorrectly specified recipient taxpayer identification number is also one of the most common mistakes. However, if the rest of the transfer details are correctly followed, this is not a reason to suspend the transfer of funds.
Chapter 3
Prospects for the development of the money transfer market
Main trend recent years- increasing competition. Today, there are about two dozen money transfer systems on this market, including international systems and local corridor operators. Consumers can also take advantage of regular bank transfers offered by banks or online transfers.
In the future, it is expected further growth the volume of money transfers, moreover, within Russia and to the CIS countries. Increased competition will inevitably lead to lower tariffs, improved quality, reliability and an expansion of the range of services provided.
Russian money transfer systems have already entered international markets, concluding partnership agreements with their foreign colleagues, and in the future there will be even more such agreements, since no Russian system will be able to cover foreign markets with its own network: it is quite expensive and already too late. In the summer of 2007, such agreements were signed by the Leader system and the Russian Post. One such partnership agreement allows both parties to get quick access to other markets.
According to the latest data from the World Bank, global remittances have nearly doubled between 2000-2005. By the end of 2008, the volume of the world money transfer market is projected to increase to $ 300 billion.
In the future, the rates for transfers will be reduced until they drop to the “natural minimum”. This level, according to experts, is at around 1% on average across the entire range of translations.
Currently, the most promising direction is the development of high technologies in the banking sector and the integration of banking services into the World Wide Web - the Internet. Banks are trying to bring part of their operations and the procedure for interacting with the client on the Internet.
Internet banking is the management of a client's bank accounts via the Internet with the ability to perform all traditional banking operations, similar to those performed in a bank office using a client's computer and a standard software included in the user's standard package. All customer transactions are subject to applicable banking legislation. For initial identification and conclusion of an agreement for the provision of services, the presence of the client at the bank is required. Transactions are usually made in all currencies with which a given credit institution works. In practice, the main operations performed through Internet banking systems are:
Transfer of funds of individuals to accounts in this or any third party bank both to the account of the system user and to the account of a third party;
· Receipt of a statement of account movements and account status for a certain period;
· Payment for services of cellular operators, Internet providers and other services;
· Payment of utility services;
· Transfer of funds in favor of legal entities and individuals to pay for goods and services;
· Conversion of funds from one currency to another;
Opening additional accounts, for example, deposits, and transferring part of the funds from the client's current account, etc.
Conclusion
Transfers without opening a bank account are not a new product for customers. For a long time, the main supplier of this service was the post office and, to some extent, Sberbank through its network of branches and offices. This service was quite expensive and not very efficient, and besides, it was limited by the territory of Russia and the presence of a branch at the desired point of receipt of the transfer. postal service or a branch of Sberbank. The situation changed with the beginning of population migration. Large international translation systems have appeared on the market and are actively working.
Working with these systems allows you to translate almost anywhere in the world in a matter of minutes. System services are not cheap, but in case of emergency, customers are ready to go for significant expenses.
In addition to transfers without opening an account through money transfer systems, almost all banks offer services for transferring funds from one account to the account of individual clients both within Russia and abroad. This is a classic banking service, the tariffs for which practically do not differ from bank to bank, and, given the lack of bank accounts for most of the population, it is incomparable with the volume of transfers without opening an account and makes up a small part of total retail income.
In addition to transfers between individuals, they are actively developing bank payments without opening an account and from an account of individuals in favor of legal entities. The main volume of such payments is made up of utility bills paid monthly by the population. More and more banks offer the ability to pay utilities to their clients. Understanding the massiveness of this market and low profitability in terms of one operation, commercial banks try to automate payment as much as possible by shifting the procedure to automated systems self-service.
Bibliography
Legislative and regulations
1. Civil Code Russian Federation, parts 1 and 2;
2. Federal Law of the Russian Federation of December 2, No. 395-1 "On Banks and Banking Activities" (as amended and supplemented);
3. Federal Law of December 10, 2003 "On Currency Regulation and currency control"No. 173-FZ;
4. Federal Law of 07.08.2001. No. 115-FZ “On Counteracting Legalization (Laundering) of Criminally Obtained Incomes and Financing of Terrorism”;
6. Federal Law of 25.07.2002. No. 115-FZ "On the Legal Status of Foreign Citizens in the Russian Federation";
7. Federal Law of 22.12.2003. No. 177-FZ "On insurance of deposits of individuals in banks";
8. Regulation of the Bank of Russia "On the procedure for making non-cash payments by individuals in the Russian Federation" (as amended on January 22, 2008) dated April 1, 2003;
9. Regulation of the Bank of Russia "On non-cash payments in the Russian Federation" dated 03 October 2002 No. 2-P;
10. Regulation of the Central Bank of Russia dated March 26, 2007 N 302-P "On the rules of accounting in credit institutions located on the territory of the Russian Federation" (as amended and supplemented);
11. Instruction of the Bank of Russia “On the procedure for opening, closing, organizing the work of exchange offices and the procedure for the implementation by authorized banks certain types banking operations and other transactions with foreign currency in cash and the currency of the Russian Federation, checks (including traveller's checks), the face value of which is indicated in foreign currency, with the participation of individuals "dated April 28, 2004 No. 113-I.
Educational literature
1. Banking / ed. G.I. Beloglazova. - SPb .: Peter, 2003;
2. Banking / ed. prof. O.I. Lavrushin. - M .: Finance and Statistics, 2005;
How often it happens that thousands of kilometers away from us, a loved one urgently needs our help ... Financial. The postal money order used by our fathers and mothers, grandmothers and grandfathers has long failed to meet the requirements of the rapid pace of our life - sometimes, and quite often, a person simply cannot wait a week for the money to reach him. And if he is in a different country altogether? Until recently, the concept of "money transfer" did not include many possibilities: postal order, wire transfer, or bank "cash to a savings bank" or "from a savings bank to a savings bank". They were all slow and rather uncomfortable. Therefore, in this Chapter I would like to analyze the prospects for the development of money transfers without opening an account.
The transfer of funds should be as fast as possible, because there are all sorts of situations in life, and sometimes the health and life of a person depends on the speed of money delivery.
This is why almost instant money transfer systems based on computer and network technologies have begun to be created all over the world. The following requirements are imposed on such a transfer system: reliability, speed, convenience.
Every money transfer is protected by a modern security system.
Television commercials of express money transfer systems are standard: a client (husband, wife, brother) walks into a bank branch, addresses a girl at the counter, fills out a form and gives back bills. Next shot: a client (wife, husband, sister) collects cash from a bank on the other side of the earth. In the finale, a life-affirming slogan like "we are transferring not just money" is required. Such videos are not uncommon on TV, today many Russian systems want to make themselves known with the help of TV advertising, because recently they had to intensify the struggle for a very promising market.
Bank transfers are money transfers made by individuals through the banking system. Money transfers of individuals refer to non-cash settlements of citizens, not related to the implementation of entrepreneurial activities and are carried out by banks and non-bank structures only with a license. Of the Central Bank Russia for this type of activity.
Cashless settlements of individuals are carried out on the basis of the Regulation of the Central Bank of the Russian Federation dated 01.04.2003 N 222-P (as amended by the Directive of the Central Bank of the Russian Federation dated 22.01.2008 N 1965-U) - "On the procedure for making cashless settlements by individuals in the Russian Federation" ...
In accordance with this Regulation of the Central Bank of the Russian Federation, bank transfers of money from individuals are divided into two types:
1. Transfers on the current account. In this case, an individual, on the basis of a bank account agreement, opens a bank current account, to which all funds transferred from other accounts or deposited in cash are credited. Money transfers from the current account can be made using the forms of non-cash settlements established by law (payment orders, letters of credit, checks, by collection).
2. Transfers without opening a bank account. Money transfers are carried out on the basis of a document filled in by an individual. The form of the document is established by banks or by the respective recipients of funds to which transfers and payments are sent. The document drawn up by the bank or in the agreement between the bank and the recipient of funds provides all the details necessary for transferring funds, as well as the taxpayer identification number (TIN) of an individual (if any) or other information about the payer established by law. Based on this document, the bank fills out a payment order on form 0401060.
The Central Bank Russia has also set separate restrictions on the amount of transfer. Thus, the maximum allowable amount of a money transfer carried out outside the Russian Federation is established by the Directive of the Central Bank of the Russian Federation of March 30, 2004 N 1412-U "On establishing the transfer amount by an individual resident from the Russian Federation without opening bank accounts". In it, the Bank of Russia sets the following restrictions on international transfers:
in the implementation currency transactions a resident individual has the right to transfer from the Russian Federation, without opening a bank account with an authorized bank, foreign currency or the currency of the Russian Federation in an amount not exceeding the equivalent of 5,000 US dollars, determined using the official exchange rates of foreign currencies against the ruble established by the Bank of Russia on the date of the instruction to an authorized bank to carry out the specified transfer.
the total amount of transfers of a resident individual from the Russian Federation without opening a bank account, carried out through a bank within one business day, should not exceed the amount equivalent to USD 5,000.
Postal orders
Postal orders refer to non-cash settlements of citizens with legal entities and individuals, carried out without opening an account in postal facilities. The regulatory documents governing non-cash payments of individuals through the Russian Post are:
Federal Law on Postal Communication (as amended by Federal Law of August 22, 2004 N 122-FZ)
Resolution of the Government of the Russian Federation of April 15, 2005 No. 221 "On Approval of the Rules for the Provision of Postal Services".
Services for the implementation of postal money transfers are financial postal services. Postal order is carried out on the basis of the Agreement on the provision of postal services concluded with individuals, which is related to public contracts. The maximum amount of a postal order within Russia is 500 thousand rubles, outside Russia - 100 thousand rubles.
Choosing the right money transfer option is not easy. Today in Russia there are about 20 systems.
Consider two money transfer systems Contact and Zolotaya Korona:
CONTACT is a system of international money transfers between individuals, all over the world (CIS, Russia, Baltic states and foreign countries), without opening a bank account. The clearing center and organizer of the system is the system of JSCB RUSSLAVBANK, formed in the 90s, which has a general license issued by Russian Bank... In the two thousandth year, the system of payments and money transfers CONTACT was launched in Russia, and already in the two thousand and fifth year, it began to actively carry out money transfers to the CIS countries.
CONTACT has more than thirty thousand points in eighty-four countries of the world and three thousand service points in Russia. Money transfers are possible both in dollars, euros, and in Russian rubles.
Monetary system transfers, allows you to carry out both sending cash transfers from a card and bank account, and receiving transfers to cashless form by crediting money to a bank account, or by paying by check. At the same time, the commission for the transfer varies between zero point, seven tenths and up to five percent of the transfer amount.
In Russia, one and a half percent, and in neighboring countries up to two percent, but if the transfer amount is large, then the commission will be only one percent. The highest transfer amount will be three hundred and fifty thousand rubles. A transfer in euros or dollars is set at ten thousand dollars or euros. Abroad, a limited amount of transfer for a resident will be considered five thousand dollars for 1 business day. At the end of two thousand and nine, the CONTACT system introduced SMS all over the world - informing customers. In Russia monetary system transfers CONTACT works with Bank "Vozrozhdenie", with Bank GLOBEX, Omsk - bank.
In Russia, with the help of CONTACT, you can repay consumer loans, replenish various accounts, pay for the services of cellular, satellite and TV operators, travel and insurance companies, as well as the Internet, IP-telephony.
System advantages:
· All over the world - Russia, the CIS countries, the Baltic states and far abroad.
· In Russian rubles, US dollars and euros.
Unaddressed payment in a number of countries *
· Delivery speed: from 15 minutes.
* Abkhazia, Azerbaijan, Armenia, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Lithuania, Moldova, Russia, Tajikistan, Uzbekistan, Ukraine, Estonia, South Ossetia.
To send a money transfer you need:
· Provide the Bank employee with information about the amount of the transfer, name the country, city and bank where the addressee will receive the money. (The bank must be included in the CONTACT system).
· Enter the required amount of money and pay the commission in accordance with the current tariffs of the CONTACT system.
· Receive a copy of the application with the money transfer number and inform the recipient of information for receiving funds (amount, transfer number and bank address where you can pick up the CONTACT transfer)
Crediting of funds in favor of legal entities (repayment of a loan, replenishment of accounts, payment for services) is carried out on the basis of an agreement concluded between the sender and legal entity and can be from 1 hour to 2 days.
To receive a money transfer you need:
Get information from the sender:
o Network point address CONTACT where the money transfer will be paid to you.
o Unique transfer number.
o Transfer amount.
Come to the point of the network CONTACT during its opening hours.
· Get the transfer amount. Payment commission is not charged.
Basic rules for transferring money through the CONTACT system:
· You can send money in the CONTACT system in Russia only in rubles. In the countries of the near and far abroad, the sending and receiving of funds is carried out in dollars, euros and rubles.
· The amount sent through the Contact system is regulated in accordance with the legislation of the Russian Federation. Citizens of the Russian Federation are allowed to transfer outside the country no more than five thousand US dollars per day. For foreign citizens, restrictions on the amount of money in the CONTACT system do not apply.
The next monetary system "GOLDEN CROWN - MONEY TRANSFERS" is a unique, dynamically developing and very popular among customers - modern monetary system transfers based for individuals. It began its operation in the year two thousand and three and was developed by the CFT (Center for Financial Technologies), and already in the year two thousand and seven, the system introduced a new technology into industrial operation for the registration of sending transfers through cash registers. A money transfer card is issued once and stores (both about the sender and the recipient of transfers) information about the owner.
All-Russian Bank regional development provides an opportunity for instant unaddressed money transfers within Russia and to neighboring countries - Abkhazia, Azerbaijan, Armenia, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Uzbekistan and Ukraine, as well as across Russia and abroad using the Golden Crown system without opening a bank account.
System " gold Crown- Money Transfers "has been operating in the money transfer market without opening an account since 2003 and provides services throughout the post-Soviet space at more than 34,000 service points.
Benefits of Golden Crown transfers
Wide network of sending and receiving transfers through partner banks
Transfer speed - it can be received immediately after sending
· No address - when making a transfer, you only need to specify the country and city where the transfer is sent. The recipient himself will be able to choose the most convenient pick-up point for him
Low tariffs for transfers to the CIS and Russia - from 0.5%
SMS notification of the recipient and the sender about the status of the transfer
The ability to monitor the status of the translation on-line on the system website
· The ability to send money transfers through the trading networks "Svyaznoy", "Euroset", "MTS", TNK-BP.
Disadvantages of Golden Crown translations
The cost of transfers at individual banks differs from the standard transfer rates
To send a transfer of the Zolotaya Korona system to RRDB, you must:
Come to any RRDB office
Provide an identity document
· Show Sender Card. (For those who send a transfer of the "Golden Crown" system for the first time, the Card is issued free of charge).
Provide the RRDB employee with information about the amount and recipient of the transfer, name the country and city in which the addressee will receive money
· Enter the required amount of money and pay the commission in accordance with the current tariffs
After sending the transfer, the recipient will receive an SMS notification with the control number of the transfer
· After issuing money, the sender receives an SMS with a notification that his transfer has reached the addressee.
Sender card
For the convenience of making transfers to RRDB, you can issue a Sender's Card "Golden Crown". All the necessary data about the sender and possible recipients are entered into the database once. This reduces the risk of errors in data writing, relieves the sender of the procedure for filling out special forms during the next calls and significantly reduces the service time. Service time with the Sender's Card is no more than 3 minutes. The card is issued free of charge.
To receive the funds sent through the Zolotaya Korona system at RRDB, you must:
After receiving an SMS-notification with a control number of the transfer, come to any bank branch of RRDB in the city
Provide an identity document
Provide the bank operator with the transfer number
· You can receive a transfer without paying a commission almost immediately after sending the money. (You must take into account the opening hours of the service points and the time difference between time zones)
· The transfer can be received in all cities of Russia and the CIS, where the partner banks of the System operate.
Additional terms
· Money transfer "Golden Crown" can be sent in one of three currencies - rubles, US dollars and euros
· The maximum amount of one money transfer is 500,000 rubles or the ruble equivalent of 20,000 US dollars / 15,000 euros
· The amount of money sent through the Zolotaya Korona system is regulated in accordance with the legislation of the Russian Federation. Citizens of the Russian Federation are allowed to transfer abroad within one banking day no more than 5,000 US dollars or an equivalent amount in another currency. The equivalent is calculated at the exchange rate of the Bank of Russia as of the date the transfer is accepted by the Bank. For foreign citizens, restrictions on monetary amounts do not apply.
Receipt of funds outside the Russian Federation is made in accordance with the legislation of the country to which the transfer is made
The Bank does not accept transfers from individuals related to their entrepreneurial activities, as well as investment activities or the acquisition of rights to real estate.
· The All-Russian Bank for Regional Development carries out the following list of operations for money transfers without opening accounts by individuals using the Golden Crown - Money Transfers System:
o Payment to individuals of cash sent by individuals;
o Sending cash by individuals in favor of individuals;
These Bank operations are carried out in the following currencies:
o Russian rubles,
o US dollars,
The Bank does not accept transfers from individuals related to their entrepreneurial activities, as well as investment activities or the acquisition of rights to real estate.
Acceptance and issue of funds when sending and paying out transfers through the "Golden Crown - Money Transfers" System is carried out in cash without opening bank accounts.
For making transfers through the "Golden Crown - Money Transfers" System, the sender is charged a commission in accordance with the Tariffs established by the System Operator RNCO "Payment Center".
The transfer fee is charged in the transfer currency.
Tariffs for transfers in the currency of the Russian Federation across the territory of the Russian Federation in favor of individuals
Tariffs for transfers in the currency of the Russian Federation *, in US dollars and in EURO to Kyrgyzstan, Moldova, Azerbaijan
Tariffs for transfers in the currency of the Russian Federation *, in US dollars and in EURO to Ukraine, Georgia, Abkhazia
Tariffs for transfers in the currency of the Russian Federation *, in US dollars and in EURO to Belarus
Tariffs for transfers in the currency of the Russian Federation *, in US dollars and in EURO to Kazakhstan
Tariffs for transfers in the currency of the Russian Federation *, in US dollars and in EURO to the Czech Republic, Mongolia
Tariffs for transfers in US dollars and in EURO to Turkey, Tajikistan
Tariffs for transfers in US dollars to the PRC
Tariffs for transfers in the currency of the Russian Federation *, in US dollars and in EURO to other countries not specified above
* - Sending in the currency of the Russian Federation is possible if payment in the country of destination is made in the currency of the Russian Federation
Note:
The maximum amount of one money transfer is 500,000 (Five hundred thousand) rubles, or 20,000 (Twenty thousand) US dollars, or 15,000 (Fifteen thousand) Euros.
The maximum amount of one money transfer intended to be received in the territory of the People's Republic of China is 20,000 (twenty thousand) US dollars.
The maximum amount of money transfers sent by a resident of the Russian Federation abroad within one banking day is 5,000 (Five thousand) US dollars or an amount in another currency equivalent to 5,000 (Five thousand) US dollars. The equivalent is calculated at the exchange rate of the Bank of Russia as of the date the transfer is accepted by the Bank.
The maximum amount of money transfers intended to be received on the territory of the Republic of Abkhazia within one day is 100,000 (one hundred thousand) rubles or an amount equivalent to 100,000 (one hundred thousand) rubles. The calculation of the specified amount is carried out at the rate set by the Payment Center NSCO.
The number and total amount of transfers are not limited, except for the limitation on the amount of the transfer in accordance with the current currency legislation.
If the amount of the Fee contains fractional values of kopecks / cents / eurocents, the amount of the Fee is automatically rounded to integer values of kopecks / cents / eurocents. The rounding rules follow the generally accepted mathematical rounding rules for numbers.
In my opinion, all systems are equally reliable, but each has its own nuances and peculiarities: the timing of the "delivery" of money to the recipient, commissions, available types of currencies, regions in which these systems operate, the number and location of offices where or get your hands on a translation. For example, the Contact system is a convenient offer for those who use "electronic wallets" (Yandex. Money, WebMoney) - you can replenish an electronic wallet at any bank office where these transfers are accepted.
Through the Zolotaya Korona system, money can be sent using an ID card through ATMs with a cash-in function. It is possible to control the status of the transfer on-line on the site of the Zolotaya Korona payment system. An SMS notification will inform you about the status of the transfer.
For the sake of convenience, customers are offered to issue an identification card for money transfers "Zolotaya Korona" once at any of the offices of Primsotsbank. After receiving it, you no longer need to fill out an application for each new transfer, all information about the sender and recipients will be contained on the card. The card is valid upon presentation of proof of identity.
Remittance- This is the transfer of funds by one person to another individual, usually through any special money transfer system and without opening a bank account.
Any money transfer system includes three components: a list of countries where you can send and where you can receive money, rates and time of transfer. Basically, the rules for making transfers are identical for all systems, since these operations are clearly regulated at the legislative level.
The Civil Code of the Russian Federation provides for the possibility of making transfers without opening a bank account. The bank has the right to establish the procedure and conditions for carrying out transactions to transfer funds from individuals without opening a bank account, including the procedure for payment for settlement services, as well as the bank's obligations to transfer funds are established by the bank in accordance with the requirements of legislation and regulations of the Bank of Russia. This applies, inter alia, to transactions for the transfer of funds to pay for settlement services. The implementation of transactions for the transfer of funds of individuals without opening a bank account takes place in several stages.
Currently, the following money transfer systems operate in Russia: Western Union, Anelik, Coinstar, Soft, MoneyGram, Avers, Privat, Lider, Aval, Unistream, Vigo, Allure, Blizko, Migom, FastPost, Contact, INTEREXPRESS, QuickPay.
Each money transfer is protected by a modern security system.
Choosing the right money transfer option is not easy. Today in Russia there are about 20 systems. International systems - Money Gram, Western Union and Travelax - are leaders in terms of service and real opportunities for making transfers around the world. They are the most technologically advanced, they have the widest geography of translations. These are quite large systems of this kind in the world. Moreover, they are well known and promoted not only in the banking sector, but also among the population. But, if we take into account the realities of the Russian market, these systems have a very significant drawback: they are, as it were, designed for people from economically developed countries who have high enough earnings, who have a certain mentality. More specifically, the same Americans and Europeans are accustomed to the fact that you have to pay and pay dearly for banking services, because these services provide security and reliability.
The patriarch in our market is Western Union, which has been operating in Russia since 1991. Research firm Aite Group estimates that Western Union accounts for 20% of the global money transfer market. Now in the CIS countries more than 20 thousand customer service points are connected to the Western Union system, and in Russia - more than 5 thousand. Whereas in the early nineties the company began operations in Russia, Russia was the recipient country: the number of remittances from abroad was higher than from the country. For several years, Russia has been a sending country for remittances, since it receives many labor migrants from the CIS countries. The growth of population migration has stimulated the demand for money transfer services. In turn, the high demand for this service contributed to the expansion of the number of market participants and a gradual decrease in average market rates.
The international giant Western Union signed an agreement in 2006 with Russian Post, the largest Russian player in the transfer market. Thanks to this, he gained access to many of its branches in the regions. The operators, as they say, have divided the clearing: with Western Union, you can make a transfer from the provinces only abroad, and money inside the country, as before, is sent by regular postal order or using the CyberMoney express system.
Currently, we have an indisputable fact that our money transfer systems work quite effectively and quite competitively on the domestic market and on the market of the CIS countries, which have already ousted the recognized market leaders: Anelik (from Armenia), PrivatMoney (Ukraine), Unistream (Russia), Migom (Russia) and others. This fact has its own natural explanation and reasons. According to Russian law, money transfers of individuals without opening an account exclude transfers of an entrepreneurial nature. That is, we are dealing with translations that can be characterized as help.
Judging by recent events, the Russian money transfer market has become more specialized and aligned with the Western pattern. The activity of Russian financial organizations that have taken up the development of transfer systems is facilitated by the growth of migration to the country from neighboring states. After all, the traditional clients of "translators", in spite of television spots, are by no means flight attendants and businessmen, but migrant workers. The bulk of transfers from Russia falls on Ukraine, Uzbekistan, Tajikistan, Armenia, Azerbaijan, Georgia and Moldova. According to experts, despite the fact that no more than 50% of translations in the country go through legalized companies today, the trend towards an increase in demand for the services of licensed "translators" is very high.
If we talk about the security of domestic systems, then in general they are not inferior to Western counterparts. In terms of information technology, we have sufficiently highly qualified specialists who are in no way inferior in professionalism to their Western colleagues. Banks understand: as in any growing market, the situation is changing rapidly, and now there is an opportunity to grab a piece of the pie. Currently, there are 20 systems on the market, but the growing competition encourages the emergence of new projects. Money transfers generate a constant fee and commission income, independent of either market conditions or the rates of the Central Bank. Transferred money - received a commission. This is every banker's dream. In addition, due to transfers, banks significantly expand their client base, because a citizen who uses the service can pay attention to other products of the credit institution.
The Russian Post is currently actively competing with the bank transfer system with its Cyber-Money project. About 45 thousand post offices throughout Russia became participants in the project. However, the delivery time of money to the addressee remains rather high.
There is also another very serious competitor on the market - Sberbank of the Russian Federation. He launched the Blitz urgent money transfer system based on the use of modern banking technologies and high-speed communication channels. The main advantage of the Blitz system is the transfer speed, which is no more than one hour from the moment of departure. Thanks to the wide network of Sberbank, the service becomes available to a large circle of citizens. It is important that the client deals with one bank, which is fully responsible for the service as a whole. This determines the absolute reliability of the translation. The advantages of Blitz urgent money transfers include an affordable transfer fee. The size of the commission is 1.75% of the amount, but not less than 100 rubles. and no more than 2,000 rubles. The maximum transfer amount is 500,000 rubles.
There are other systems as well. The main thing is to correlate your needs with the geography of each system, the speed of money transfer and tariffs.
Classification of remittances
Money transfers can be classified according to:
- 1. Directions:
- -international;
- - domestic.
You can issue an international transfer within the international payment system. It operates on the territory of two or more states, between which it allows you to transfer money.
Of course, not all existing international systems work in Russia. However, there is no shortage of them. Moreover, Russian banks have created their own systems that allow you to transfer money to some countries of the near and far abroad without any problems. At the same time, the commission that is withheld is much lower.
- 2. Recipient:
- - individual;
- - a subject of entrepreneurial activity.
- 3. Transmission method:
- - with the opening of an account;
- - without opening an account.
- 4. Card-to-card transfers.
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