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Introduction

international money transfer

This thesis is devoted to an overview of modern money transfer systems individuals acting in large numbers on the world stage, and have become quite familiar in our country in recent times.

The relevance of this topic is quite obvious, since more and more often in our lives we come across these tools, and they become more and more developed and diverse in our market. In addition, over the past five or six years, the Internet has burst into our lives at a rapid pace, along with its principles of communication, business and, naturally, its fundamentally new instruments of money circulation and, in particular, money transfer systems. The speed of circulation of money masses has increased significantly, information technologies are developing rapidly, life itself has become more dynamic. All this makes it necessary to spread fast and convenient money transfer mechanisms, in particular, for individuals, as well as to provide a legislative, organizational and legal framework for their efficient 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 increased competition in this market in recent years and a sharp increase in the volume of remittance flows from 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 from labor migrants on the development of international money transfer systems at the global level.

Explore the current state of the Russian market of money transfer systems.

Determine the position of each system in the money transfer market and their relationship with the growth of the migration process.

On the example of JSCB "Almazergienbank" OJSC, analyze the activities of international money transfer systems.

Conduct a comparative analysis of banks in Yakutsk offering translation services Money through international money transfer systems.

The scientific novelty of this work lies in the fact that the market for 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 thesis research can be used as 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.

The diploma work consists of three chapters. The first chapter is called "The concept and classification of money transfers of individuals." This chapter introduces the concept of remittances, discusses the types of remittance systems, and pays special attention to global remittance systems as a result of an increase in the number of international labor migrants.

The second chapter is called

Suren Hayriyan, President of the international money transfer system "Unistream"

The technical innovations accumulating on the market have translated into clear technological breakthroughs that have given the segment new channels for sending money, making it already an integral part of the electronic payments industry. The point of "no return" was passed, when it was possible to draw a clear line between them and remittances. In this regard, speaking about the current state of the money transfer market, we should note not so much the growth in volumes and the number of customers, which is taking place, 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 sphere of electronic payments and other high-tech areas has become the main driver of the money transfer market of the last year. This sector began to actively seek and conquer more and more new areas, including retail chains. Money transfer becomes part of one common information technology cluster, where different related business areas are intertwined.

One of the planes reflecting this new reality was the movement of the market towards the "virtualization" of services, in the direction of moving away from the classical way of sending funds ("operator - client")

If we talk about retailer networks, 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 sector of the market at one time made a significant contribution to the development of another product section: terminals. They, in turn, gave the green light to a contactless way to send money.

Approaching 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 completed. The absence of a human factor, queues and unnecessary formalities, absolute superiority in terms of numbers and density - all this has made the terminals one of the most popular sending channels.

If we talk in terms of turnover, then with the growth of "classics" at a rate of 20-30% per annum, and retail - at 60%, the volumes of transfers through terminals show an increase by hundreds of percent.

The multiple growth of volumes embodied all the advantages that the terminals gave: from speed to convenience.

The terminals, having proved their effectiveness and won the trust of customers, instantly went beyond the boundaries of simple shopping centers. Underpasses, railway and air terminals, large shopping centers, cinemas, etc. - all of them almost immediately became sites for the placement of terminals. They were followed by money transfers, giving a new aspect of quality “24 to 7”.

Don't forget about profitability. Terminals can operate even in the smallest communities, including infrastructure facilities such as remote railway stations.

All these obvious and seemingly obvious advantages are hindered 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 turned their attention to. The use of ATMs and bank cards to which funds are transferred.

Integration with large banks with extensive ATM networks, as a result, turns into a very attractive direction for players who can apply for cooperation with powerful financial institutions.

The average check for terminals and ATMs is only 5-6 thousand rubles, which is significantly lower than the "classics" (20-30 thousand rubles in one transfer). However, this does not in the least affect the attractiveness of this sector, because mass character and unprecedented territorial coverage come forward.

The top of the ladder "from classic to virtual" is currently firmly occupied by the so-called mobile transfers (transfer from a mobile account via SMS) and transfers via the Internet. Every mobile phone and each computer can serve the purpose of sending money (the "sending point" of the money transfer). Ease, simplicity, complete contactlessness and extraordinary prospects. At the same time, the coverage network is unprecedented in scale and the minimum labor intensity of the entire process.

Here the volumes were not so great, but their growth rates impress experts: hundreds of times in a relatively short period of time.

At this level of market evolution, UNISTREAM 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 can certainly 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 grounds for defending their interests and influence. In an environment of exceptional growth in competition and intensifying customer competition, new technology-intensive shipping channels provide an extraordinary boost to profitability and cost reduction, efficiency and convenience.

In parallel, such indispensable tools as unified customer cards are entering the market. They enable instant identification, new applications and encourage players to create their own processing centers.

It is important to note that new product ideas, including retail and terminals, are not only promising and innovative. They have become part of a sector where customers send money relatively small amounts, but regularly, and thereby 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.

Speaking of product sections, of course, we should not forget about other aspects.

The struggle for the client ends with a banal reduction in 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 went to other planes. For example, the speed of translation. Instantaneous translation has become a category for granted.

Much attention is paid to the development and implementation of comprehensive loyalty programs. An example of this is the UNISTREAM unified customer cards, which set the tone for the entire movement forward in the field of cards in the money transfer segment. They were the key to the complete minimization of translation time, start bonus programs new level and many other applications.

A period of intensive development of addressless transfers has begun, when the sender indicates only the name of the addressee and the country of his residence, and the recipient is given money at any point of the operator.

In the context of the movement from the translation of the contact to the translation of the virtual, it is the recognition of the brands of the systems, their "hype" both in the B2C and B2B spheres that has become increasingly important.

There is a distinctly growing "internationality" of operators, their desire and ambition to enter more and more new ones.

If we talk about quantitative characteristics, then the market is growing at an average rate of 30-35 percent per year.

The last year and a half opened a completely new page in the history of the money transfer market, determined a stable and irreversible scenario for its development towards further integration into the electronic payments segment. The intensive development of technology has given the market completely different opportunities and new layers of client audience. If earlier we were talking about new products, today we are talking about the whole opening directions that this integration gives us in combination with the promotion of IT systems. We expect these trends to develop rapidly in 2011 and 2012.

Remittance- this is the transfer of funds by one person to another individual, usually through some 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 money and where you can receive money, tariffs and transfer time. 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 for the transfer of funds of individuals without opening a bank account, including the procedure for payment for settlement services, as well as the bank's obligations for the transfer of funds are established by the bank in accordance with the requirements of the legislation and regulations of the Bank of Russia. This applies, among other things, to transactions for the transfer of funds to pay for settlement services. The implementation of operations 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, Leader, Aval, Unistream, Vigo, Allure, Close, Migom, FastPost, Contact, INTEREXPRESS, QuickPay.

Every money transfer is protected modern system security.

Choosing the right money transfer option is not an easy task. About 20 systems operate in Russia today. The 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. These are quite 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, 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 fairly high earnings and who have a certain mentality. More specifically, the same Americans and Europeans are accustomed to the fact that you have to pay for banking services and pay dearly, because these services provide security and reliability.

Western Union, which has been operating in Russia since 1991, is considered the patriarch in our market. According to research firm Aite Group, Western Union accounts for 20% of the global money transfer market. Now in the CIS countries over 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 started 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, as it hosts many labor migrants from the CIS countries. The growth of population migration has stimulated the demand for the money transfer service. In turn, the high demand for this service contributed to the expansion of the number of market participants and the gradual reduction of average market rates.

The international giant Western Union entered into an agreement in 2006 with the 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 from the outback, you can make a transfer only abroad, and money within the country, as before, is sent by regular postal order or using the CyberMoney express system.

At present, we have an indisputable fact that our money transfer systems operate quite efficiently and quite competitively in the domestic market and in the market of the CIS countries, which have already ousted the recognized market leaders: Anelik (“originally” from Armenia), PrivatMoney (Ukraine), Unistream (Russia), Migom (Russia) and others. This fact has its 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 described as help.

Judging by recent events, Russian market remittances has become more specialized and lined up along Western lines. The activity of Russian financial organizations that have taken up the development of transfer systems is facilitated by the growth of migration into the country from neighboring states. After all, the traditional clients of the "translators", contrary to television commercials, are by no means stewardesses and businessmen, but guest workers. The main volume 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 transfers 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 quite highly qualified specialists who are in no way inferior to their Western counterparts in professionalism. Banks understand that, 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 increasing competition contributes to the emergence of new projects. Money transfers bring a constant commission income that does not depend on market conditions or on 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 customer base, because a citizen who has used the service can pay attention to other products of a credit institution.

Active competition system bank transfers is currently implemented by the Russian Post with its Cyber-Money project. About 45,000 post offices throughout Russia became participants in the project. However, the delivery time of money to the addressee remains quite high.

There is also another very serious competitor on the market - Sberbank of the Russian Federation. He launched the Blitz express 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 express money transfers "Blitz" include an affordable fee for the transfer. The commission is 1.75% of the amount, but not less than 100 rubles. and not more than 2000 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 money transfers

Money transfers can be classified according to:

• 1. Directions:
  • -international;
  • - domestic.

You can make an international transfer within the framework of 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, they are not lacking. Moreover, Russian banks have created their own systems that allow you to easily transfer money to some countries of the near and far abroad. At the same time, the commission that is withheld is much lower.

• 2. Recipient:
  • - individual;
  • - the subject of entrepreneurial activity.
• 3. transmission method:
  • - opening an account;
  • - without opening an account.
• 4. Transfers from card to card.

MOSCOW BANKING INSTITUTE

BANKING

COURSE WORK

by subject
"Bank operations"
on the topic:

"Money transfers of individuals"

Students of group 2-BD-5

Faizieva Alina Raisovna

Supervisor:

Galliamova 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.Current state money transfer market……24

2.2. . Errors in the implementation of money transfers of individuals and possible ways to eliminate them………………………..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 dated April 1, 2003 “On the procedure for making cashless payments by individuals in Russian Federation».

Under individuals refers to citizens whose non-cash payments are not related to the implementation of entrepreneurial activities.

Non-cash payments are made by individuals through credit institutions (branches) licensed by the Bank of Russia to open and maintain bank accounts for individuals and/or make money transfers on behalf of individuals without opening bank accounts (except for postal orders).

In this term paper I tried to analyze the basic principles of money transfers both with and without opening an account.

Chapter 1 will deal with the general terms and conditions for making transfers of individuals.

Chapter 2 presents the current state of the money transfer market, what money transfer systems currently exist, 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, the following concepts, definitions and abbreviations are used:

Remittance- the amount of cash intended for payment to the recipient specified in the sender's instruction.

Treaty– an agreement concluded between the Organization and the Bank, on the basis of which the Bank makes Transfers on behalf of the Payers as payment for goods (services) of the Organization with subsequent crediting (transfer) to the bank account of this Organization.

Treaty– an agreement, as well as additional agreements thereto, concluded between the Organization and the Bank, according to which the Bank, on behalf of the Organization, carries out operations for accepting and dispensing cash from Clients through various money transfer systems.

Cashier– cash worker of the operating cash desk of the Authorized subdivision of the Bank.

Customer– an individual (resident or non-resident) depositing or receiving cash in the Bank's Authorized Money Transfer Unit.

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 ongoing transactions. In the Authorized subdivision - operating 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 a permanent place of 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 a working day during which Funds Transfer operations are performed in the Authorized Unit.

Operating cash desk– cash desk of the Authorized Subdivision, where the Payer's funds are accepted for the subsequent Transfer.

Sender- an individual who instructs the sender's bank to send a money transfer.

Recipient- 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 divisions– Structural subdivisions of the Bank (additional offices, operating cash desks outside the Bank's cash hub, branches) providing services to Clients in money transfers.

1.2. General provisions

When making a Money Transfer outside the Russian Federation, an individual who is resident Russian Federation, has the right to transfer foreign currency or the currency of the Russian Federation within one business day in an amount not exceeding the equivalent of 5,000 US dollars.

For an individual - non-resident the amount of transfer of foreign currency 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 on the territory of the Russian Federation in foreign currency can be made between individuals who are non-residents.

a resident on the territory of the Russian Federation cannot send funds 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 in 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 a stateless person, when making a Funds Transfer, in addition to an identity document, an individual must provide the Bank with a document confirming his right to stay in the territory of the Russian Federation.

Transfers in excess of $7,500 require separate authorization from the Organization's Service Center.

Residents must make all transfers via foreign exchange transactions from accounts in authorized banks, with the exception of certain operations related, in particular, to donations and inheritances. 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 operations on them in the manner established by the Central Bank.

The debiting of funds from the current account of an individual is carried out by the bank by order of the account holder or without his order in cases provided for by law, on the basis of settlement documents within the limits of funds available on the account.

Passport or other identity document in accordance with the legislation of the Russian Federation (hereinafter referred to as the identity document);

- "Card with Sample Signatures and Seal Impressions" form 0401026 of the All-Russian classifier management documentation OK 011-93 (hereinafter - card f.0401026), drawn up in accordance with the procedure established by the Bank of Russia.

Other documents provided for by law and/or bank account agreement.

Settlement documents are filled in by individuals using office equipment, computers or by hand with a pen with paste or black, blue or purple ink. 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 carbon paper. It is allowed to use the second and subsequent copies of settlement documents obtained on a duplicating technique, provided that the copying is made without distortion.

When transferring funds by an individual from his current account to a bank account of a legal entity or to a current account of an individual, as well as to other accounts (deposit account, account for settlements using bank cards), including the accounts of the payer himself in the settlement document in the "Payer" field, if an individual is a payer, in the "Recipient" field, if an individual is a recipient, the full surname, first name, patronymic (unless otherwise follows from law or national custom) (hereinafter - full name ) an individual from whose account (account) the funds are transferred. When transferring funds by an individual in the settlement document, the taxpayer identification number (TIN) of the individual (if any) is also indicated in the "TIN" field of the payer, or in the "Payer" field - after the full name. in brackets is the address of the place of residence (registration) or place of stay, or the date and place of birth (hereinafter referred to as 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 money transfer operations on behalf of individuals without opening a bank account are brought to the attention of individuals in an accessible form, including by posting information at customer service points, including internal structural divisions of the bank, and are considered accepted by the individual when signing a document for the transfer of funds.

Banks carry out money transfer operations on behalf of an individual without opening a bank account on the basis of a document submitted by an individual. The form of the document intended for submission/filling in by individuals when transferring funds without opening a bank account is established by banks or 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 the necessary details of the transfer of funds, 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 a payment order.

When transferring funds received from individuals to the address of one recipient, the payment order can be filled in by the bank - sender of the payment for the total amount, with the subsequent transfer of documents filled out by individuals in accordance with the terms of the agreement, which provides for the obligation of the bank - 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. Payment order filled in and executed by the sender's bank in accordance with the requirements for filling out settlement documents established by Bank of Russia Regulation No. 2-P.

In order to provide services to individuals of Transfers without opening an account, the Bank enters into an agreement with the relevant Money Transfer System. Through the system of money transfers on behalf of individuals without opening bank accounts Russian bank can carry out:

Sending money transfers of individuals in rubles of the Russian Federation without opening a bank account through the territory of the Russian Federation in favor of individuals and legal entities;

Sending money transfers of 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 on the territory of the Russian Federation in rubles;

Payment to individuals of money transfers received without opening a bank account from individuals from abroad of 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 under 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 not related to capital movements. The Bank carries out operations in the following order:

Sending and paying out 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 by resident individuals from the Russian Federation in rubles and foreign currency - for an amount that cannot exceed the equivalent of $5,000 (Five thousand) within one business day, 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 execution of the application for a money transfer;

Sending money transfers of 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/withdrawing money transfers, the commission is charged from the sender/recipient 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 the 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 to:

Send money transfer;

Receive a money transfer;

Change the data of the sent money transfer (financial and non-financial changes, while financial changes are possible only on the day of sending 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 (as decided by the Organization).

Changes to the sent transfer or its cancellation are carried out in the Authorized Unit in which the transfer was accepted.

The Bank's liability to the Clients has the following limitations:

When accepting funds, it continues until information about the acceptance of the transfer by the relevant System is received;

When issuing funds, it occurs 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 depositors' instructions to transfer deposits in rubles and foreign currency (of the entire deposit or a part of it - for those types for which the possibility of paying off a 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 amounts determined by bank tariffs.

Banks make transfers only in 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 may draw up one general application indicating the account numbers and amounts for each deposit.

An application for the transfer of a minor depositor's deposit shall be signed by the person who manages this deposit. When transferring a deposit made by a minor himself between the ages of 14 and 18, the application is signed by the depositor. Such a contribution can only be transferred in 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 upon enrollment, for which a passbook was not issued, and a sample of the depositor's signature was not received, upon request by the bank to which the deposit is transferred, can only be carried out in full, together with the due interest.

The depositor is granted the right to give the bank where the deposit is kept a long-term instruction to transfer amounts from this deposit. Such transfers from deposits in rubles can be made 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 himself.

The person who has filed an application for the transfer of a deposit may give a written instruction to cancel it. The instruction is given to the bank that maintains the depositor's personal account or accepts cash for transfer, or to the bank where the transferred amount is sent. The order indicates to which deposit account the refunded amount should be credited.

If the amount transferred is credited to the deposit account, it will be returned on the basis of an application by the depositor in whose name the account is opened.

Receiving and issuing funds without opening an account

The procedure and conditions for carrying out transactions for the transfer of 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 obligations of the UB 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 the UB to carry out 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 brought to the attention and accepted by the individual when he signs the document for the transfer of funds.

Any option of money transfers, and there are quite a lot of them in the world, allows you to send funds only within one system. This means that you can send money only to that country and to that 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 shops. Some Russian banks provide their customers 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 via modern data transmission channels. This ensures a high speed of transfer - 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 Clients Bank employee:

1) informs the client who wants to make a transfer:

About tariffs 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 a recipient about a transfer: delivery of a check to an address, notification by telephone, control questions, additional messages;

About the restrictions existing in the given country on money transfers;

On the availability of a money transfer system point in the city indicated by the sender and the address of this point.

2) Find out from the client the country, city of destination, currency, transfer amount, the need for additional services, inform the Client about the amount of the commission fee 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 out the client part of the letterhead for sending money;

4) Accepts an identity document from the client and determines its status (resident, non-resident) in terms of 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, 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 foreign passport;

Seafarer'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 the internal affairs body before issuing a passport;

foreign citizens :

stateless persons :

Residence permit in the Russian Federation;

for non-residents :

citizens of the Russian Federation :

General foreign passport with a mark of permanent residence outside the Russian Federation;

foreign citizens :

Passport of a foreign citizen (in addition to the passport, a 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 are presented);

stateless persons :

Permit for temporary residence in the Russian Federation;

refugees:

Refugee certificate;

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 an immigration control post or a territorial body of 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 made 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 can 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 provided to the bank along with a certified translation into Russian;

The original (if the power of attorney specifies only the right to make a money transfer) or a copy of the power of attorney, certified by a bank employee, is placed in the documents of the day along with the money transfer application.

5) Verifies the correctness and completeness of the information required when filling out the letterhead, and then sends the client to the cash desk.

7) Informs the client about the need to personally notify the recipient about the amount of the transfer and the control number, if the notification service was not ordered by the sender.

Effective August 2001 the federal law N 115-FZ "On counteracting the legalization (laundering) of proceeds from crime and the financing of terrorism", the requirement of which is the mandatory control of any operation on the accounts of individuals if 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 transaction refers to one of the following types of transactions:

Crediting or transferring funds to the account, if at least one of the parties is an individual registered in a state that is not involved in international cooperation in the field of combating the legalization of proceeds from crime and the financing of terrorism;

Crediting or transferring funds to the 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 execution of documents to the bearer;

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 equivalent of $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 on the date of filling out an 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 execution of an application for a money transfer transfer, the responsible officer 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 compiled:

In relation to the individual performing the transaction;

In relation to an individual, on whose behalf and on whose behalf the operation is performed;

In relation to a representative of an individual who performs a transaction with funds.

If a bank employee reveals the facts of splitting outgoing money transfers (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 exchange rates foreign currencies against the ruble, established by the Central Bank of the Russian Federation on the date of execution of the application for a money transfer, for one business day. Upon execution of the money transfer/money transfers, the 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 compiling the report in accordance with the requirements of Federal Law No. 115-FZ of 07.08.2001, in the manner prescribed in the bank. If the name of the sender is in the list of persons involved in terrorist activities, the responsible officer, regardless of the amount of the transfer, takes actions determined by the internal procedures of the bank.

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 along with the application for a money transfer;

Otherwise, he makes a copy of the document, asks the sender 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 internally to the security service, the internal control service and the bank employee appointed by the order of the bank responsible for the development and implementation of internal control rules in order to counteract the legalization (laundering) of proceeds from crime , and financing of terrorism, and programs for their implementation.

Based on the information received from the sender and specified in the application for sending a 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 reported to the sender.

Features of sending money transfers in favor of legal entities

Individuals make 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 in favor of legal entities is similar to sending money transfers in favor of individuals. When a client applies to a bank institution to make a money transfer in favor of a legal entity, the responsible officer answers the questions that have arisen, 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 made by individuals (residents and non-residents) without presenting an identity document, unless required by the current legislation of the Russian Federation.

When issuing cash Bank employee for clients:

1) Finds out from the client who wants to receive funds, information about the transfer: full name. the sender, the place of departure, the unique control number, the amount of the transfer, the answer to the security question (if any), while knowing the control number is not mandatory, but knowing the control number alone is not sufficient for issuing the transfer;

2) Checks for the existence of this translation;

4) Offers the client to fill in the client part of the letterhead to receive funds;

5) Verifies the correctness and completeness of the information required when filling out the letterhead for receiving funds.

The transfer amount or part of the transfer may 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 terms of the transfer, 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;

Changing the name of the recipient and / or sender;

Adding a security question.

Changing the amount of the transfer and the fee for the transfer at the initiative of the Client

it is possible for a transfer that has not yet been paid only on the day of departure within ± 10% of the original transfer amount.

In case of erroneous sending of a transfer without the actual deposit of funds by the Client, the transfer is immediately canceled at the initiative of the Bank.

The money transfer can be returned to the sender if it has not yet been received by the recipient.

Chapter 2

2.1. Current state of the money transfer market

As often happens, thousands of kilometers away from us, a loved one urgently needs our help ... Financial. The postal money transfer, which was used by our fathers and mothers, grandparents, has long ceased to meet the requirements of the rapid pace of our lives - sometimes, and quite often, a person simply cannot wait a week for the money to reach him. What if he is in another country? Until recently, the concept of “money transfer” included not so many possibilities: postal transfer, telegraphic transfer, or bank “cash to passbook” or “from passbook to passbook”. 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 delivery of money.

That is why money transfer systems with almost instantaneous delivery based on computer and network technologies began to be created all over the world. The following requirements are imposed on such a transfer system: reliability, speed, convenience .

Each money transfer is protected by a modern security system.

TV clips of express money transfer systems are standard: a strong miner (a young stewardess, a respectable businessman, etc.) enters a bank branch, addresses the girl at the counter, fills out a form and gives banknotes. The next frame: happy parents (bride, student son, etc.) collect cash from a bank on the other side of the earth. In the final, a life-affirming slogan like “we transfer not just money” is obligatory. 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.

Choosing the right money transfer option is not an easy task. About 20 systems operate in Russia today. The 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. 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, 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 fairly high earnings, who have a certain mentality. More specifically, the same Americans and Europeans are accustomed to the fact that you have to pay for banking services and pay dearly, because these services provide security and reliability.

Western Union, which has been operating in Russia since 1991, is considered the patriarch in our market. According to research firm Aite Group, Western Union accounts for 20% of the global money transfer market. In 2007 this payment system has made over 375 million transfers worldwide from over 200 countries. Now in the CIS countries over 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 started 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 money they earned to their homeland to support their relatives and friends. For several years, Russia has been a sending country for remittances, as it hosts many labor migrants from the CIS countries. The growth of population migration has stimulated the demand for the money transfer service. In turn, the high demand for this service contributed to the expansion of the number of market participants and the gradual reduction of average market rates.

The international giant Western Union entered into an agreement in 2006 with the 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 from the outback, you can make a transfer only abroad, and money within the country, as before, is sent by regular postal order or using the CyberMoney express system.

At present, we have an indisputable fact that our money transfer systems operate quite efficiently and quite competitively in the domestic market and in the market of the CIS countries, which have already ousted the recognized market leaders: Anelik (“originally” from Armenia), PrivatMoney (Ukraine), Unistream (Russia), Migom (Russia) and others. This fact has its natural explanation and reasons. Under Russian law, money transfers by individuals without opening an account exclude transfers of an entrepreneurial nature. That is, we are dealing with translations that can be described 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 neighboring countries is 10-12 billion dollars.

Judging by recent events, the Russian money transfer market has become more specialized and aligned along Western lines. The activity of Russian financial organizations that have taken up the development of transfer systems is facilitated by the growth of migration into the country from neighboring states. After all, the traditional clients of the "translators", contrary to television commercials, are by no means stewardesses and businessmen, but guest workers. The main volume 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 transfers 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 quite highly qualified specialists who, in my opinion, are in no way inferior to their Western counterparts in terms of professionalism. What is still inferior to the domestic money transfer systems, the same Money Gram and Western Union, is the urgency of transfers. So, for example, using the services of Western Union, you can receive a transfer in any country in the world within half an hour, or even less. But once again I note 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 large businesses. For citizens of small and medium incomes who transfer money to their families to ensure their living, in the vast majority of cases, the difference of half an hour or an hour, of course, does not matter much.

Over the nine months of last year, the systems transferred more than $3.4 billion from Russia. “According to our estimates, the volume of the CIS transfer market is 12-13.5 billion dollars,” says Suren Hayriyan, director of the money transfer department at Unistream. Banks understand that, 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 increasing competition contributes to the emergence of new projects. “Each bank that has a relationship, apparently, considers the creation of its own money transfer system as an integral contribution to the development of the country's economy,” laughs Sergei 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 bring a constant commission income, which does not depend on 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 customer base, because a citizen who has used the service can pay attention to other products of a credit institution.

CONTACT is now gaining more and more popularity - this is the first Russian system 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. 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 a 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 daily. In 2006, the volume of money transfers made through the system amounted to more than 900 million, and from March 2006 to March 2007, the volume of transactions exceeded 1 billion dollars. Another 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.

The Russian Post is currently actively competing with the bank transfer system with its Cyber-Money project. About 45,000 post offices throughout Russia became participants in the project. However, the delivery time of money to the addressee remains quite high.

There is also another very serious competitor on the market - Sberbank of the Russian Federation. He launched the Blitz express money transfer system based on the use of modern banking technologies and high-speed communication channels. As Nezavisimaya Gazeta was told in the press service of Sberbank of Russia, more than 7 thousand structural divisions of the bank are already connected to work, 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 express money transfers "Blitz" include an affordable fee for the transfer. The commission is 1.75% of the amount, but not less than 100 rubles. and not more than 2000 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.

2.2. Errors in the implementation of money transfers of 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 transfer operations does not decrease. But avoiding mistakes means reducing the cost of the process.

The volume of money transfers made by individuals through credit institutions has grown significantly in recent years. The frequency of individuals applying to banks for carrying 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 services, the expansion of retail products offered, as well as the growing confidence of the population 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 errors in the transfer of funds by individuals through credit institutions.

The following groups of errors accompanying money transfer operations can be distinguished:

failures in the computer system;

Operational errors

· errors of the translator when filling out the payment order form.

Failures 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 a load on the server and network causes a delay in sending payments and receiving funds.

Failures in the operation of the ATM network may cause a delay in the receipt of funds to the accounts of individuals for further repayment of debts on loans.

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 teller. Insufficient qualifications of the teller (which may be caused by staff turnover) is also the cause of such errors. This so-called human factor, which is most often triggered when processing orders filled out by hand.

In addition, the uniformity of payments contributes to an increase in the number of errors (replenishment of own accounts, transfer of funds to pay off debt on a loan).

Translator errors

This category of errors accounts for the largest share. According to bank employees, the time spent on serving one client has recently been forced to decrease due to an increase in the number of transactions and an increase in the number of entities filling out documents for transferring funds.

So, filling out a payment order when applying for a loan to purchase 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.

Reducing this kind of errors is possible with a detailed explanation by the bank employee to the transferor of the scheme for filling out payment orders. It is necessary to provide consulting services to employees of car dealerships, and provide individuals with instructions for filling out a payment order form. In addition, when repaying a debt to a bank on a loan, the borrower can use the method of depositing funds through an ATM.

A significant reduction in the proportion of errors occurs if the client is released from filling out the payment order form. This is an opportunity when concluding a general agreement with the bank to transfer the client's own funds. Suppose a client grants a servicing bank, on its own behalf, the right to manage its card account for further repayment of debt on a loan. Such an instruction comes into force in the absence of funds on the account to repay the loan and enables the bank to transfer funds from one client account to another. Carrying out this operation does not require the presence of the client and filling out the payment order form. In this case, the borrower can be sure that the debt will be repaid on time.

Insufficiency of funds for making a payment on the account of the transferor can also be attributed to this category of errors. When transferring a payment order to a bank employee, the latter must necessarily verify the sufficiency of funds on the client's account to make this transfer. However, as mentioned above, the uniformity of transactions and the increasing workload on the tellers lead to the acceptance by the bank of a payment order with the impossibility of its implementation due to insufficient funds in the client's account.

The question arises: who is responsible for this error? In my opinion, the translator After all, it is in his interests to transfer the amount to the recipient, and the responsibility for the sufficiency of funds in 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 commission 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:

the name of the settlement document and the 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), correspondent account or sub-account number;

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), correspondent account or sub-account number;

· purpose of payment;

type of transaction in accordance with the Rules of Conduct accounting in the Bank of Russia and credit organizations located on the territory of the Russian Federation;

signatures of authorized persons.

When carrying out money transfer operations on behalf of individuals, the most common errors are in filling in the following fields:

recipient's name

beneficiary's account number

taxpayer identification number (TIN).

Beneficiary's name

This problem is relevant for transfers coming from non-residents and coming in their favor, and consists in the correct writing of data in Russian. Untimely notification of a change in the name of the recipient is the 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's account number

The mistake in specifying the recipient'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 details of the recipient are carried out by the bank for a commission fee in accordance with the approved tariffs. The term for clarifying the details of the recipient is set by the bank independently, but should 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" the bank is given a period of 5 working days to clarify the details of the recipient. 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, attention should be paid to the purpose of the transfer. Until recently, such translations 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 in payment 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 entered beneficiary tax identification number is also one of the most common errors. However, if the other details of the transfer are correctly observed, this is not a reason to suspend the transfer of funds.

Chapter 3

Prospects for the development of the money transfer market

The main trend of recent years is increasing competition. Today, this market has about two dozen money transfer systems, including international systems and local corridor operators. Consumers can also take advantage of regular bank account transfers offered by banks or online transfers.

In the future, further growth in the volume of money transfers is expected, moreover, within Russia and to the CIS countries. The growth of competition will inevitably lead to lower tariffs, improve quality, reliability and expand the range of services provided.

Russian money transfer systems have already reached international markets, concluding partnership agreements with their foreign colleagues, and in the future there will be even more such agreements, because no Russian system can cover overseas markets own network: it is quite expensive and 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 gain quick access to other markets.

According to the latest data World Bank, remittances in the world almost doubled over the period 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, transfer rates will decrease until they fall to the “natural minimum”. This level, according to experts, is at around 1% on average for the entire line of transfers.

At present, 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 client's bank accounts via the Internet with the ability to perform all traditional banking operations, similar to those performed at the bank's office using the client's computer and standard software included in the standard user package. All customer transactions are subject to applicable banking legislation. For primary identification and conclusion of an agreement for the provision of services, the presence of the client in the bank is required. Transactions are usually made in all currencies with which the given credit organization 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;

Obtaining a statement of movements on the account and the state of the account for a certain period;

payment for the 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, such as deposits, and transferring part of the funds from the current account of the client, 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 branches. This service was quite expensive and not very efficient, and besides, it was limited by the territory of Russia and the presence of a post office or a branch of Sberbank at the desired point of receiving the transfer. The situation changed with the start of population migration. Large international transfer systems have appeared on the market and are actively operating.

Working with these systems allows you to transfer almost anywhere in the world in a matter of minutes. Systems services are not cheap, but in case of emergency, customers are ready to make significant expenses.

In addition to transfers without opening an account through money transfer systems, almost all banks offer services for transferring funds from an account to an account of individual customers both within Russia and abroad. This is 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, 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, bank payments are actively developing without opening an account and from an account of individuals in favor of legal entities. The bulk of such payments are utility bills paid monthly by the population. More and more banks offer the possibility to pay public Utilities to their clients. Understanding the mass nature of this market and the low profitability in terms of one operation, commercial banks try to automate the payment as much as possible by shifting the procedure to automated systems self-service.

Bibliography

Legislation 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» (with amendments and additions);

3. Federal Law of December 10, 2003 "On currency regulation and currency control" No. 173-FZ;

4. Federal Law No. 07.08.2001 No. 115-FZ "On counteracting the legalization (laundering) of proceeds from crime and the financing of terrorism";

6. Federal Law No. 25.07.2002 No. 115-FZ "On the legal status of foreign citizens in the Russian Federation";

7. Federal Law No. 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 Settlements 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 settlements in the Russian Federation” dated October 03, 2002 No. 2-P;

10. Regulation of the Central Bank of March 26, 2007 N 302-P "On the rules of accounting in credit institutions located on the territory of the Russian Federation" (with amendments and additions);

11. Instruction of the Bank of Russia “On the procedure for opening, closing, organizing work exchange offices and the procedure for the authorized banks to carry out certain types of banking operations and other transactions in cash foreign currency and the currency of the Russian Federation, checks (including traveller's checks), the nominal value of which is indicated in foreign currency, with the participation of individuals” dated April 28, 2004 No. 113 -AND.

Educational literature

1. Banking / ed. G.I. Beloglazova. - St. Petersburg: Peter, 2003;

2. Banking / ed. prof. O.I. Lavrushin. - M.: Finance and statistics, 2005;