What Is The Significance Of Bank Pfer Settlement?

In accordance with the provisions of the bank settlement method, except for the prescribed cash settlement, all pactions, such as commodity pactions, labor supply, capital allocation, and credit pactions, should be carried out through banks in accordance with the bank settlement rules.

The implementation of bank pfer settlement has the following meanings:

First, bank pfer settlement should be carried out, instead of cash circulation with bank credit receipts and payments, the cash flow between all units should be used only if the business below the starting point of settlement and within the scope of cash expenditure can be used to narrow the scope and quantity of cash circulation, so that a large amount of cash can be separated from the circulation sector, thereby creating a condition for the state to organize and regulate money circulation in a planned way, and to prevent and curb inflation.

Second, bank pfer settlement is realized through centralized settlement funds of banks. Banks pfer funds directly from the payment units (or individuals) to the receivables (or individuals) by using various settlement vouchers and bills in the bank account, regardless of the size and complexity of the funds, and regardless of distance. As long as they are at the beginning of the settlement, they can be handled in a timely manner through the banking institutions. The procedures are simple, and the procedures for delivery, inventory and custody of cash settlement are omitted, which is convenient and efficient, thus shortening the clearing time and speeding up the weekly turnover of materials and funds.

Third, implementing banks

It will help to gather idle funds and expand the sources of bank credit funds.

Fourth, the implementation of bank settlement, the unit's income and expenditure, most of the settlement through the bank, the bank through Centralized Settlement pfer settlement, you can fully understand the economic activities of various units, and supervise the implementation of units conscientiously.

To prevent illegal activities and promote better compliance with financial laws and regulations.

Fifth, the implementation of bank pfer settlement can avoid loss of money, theft, theft and other unforeseen losses due to cash settlement and cash flow. As a result of the pfer of bank accounts, regardless of the size and duration of the accounts, it is well documented that the accident is easy to recover at the same time, so as to ensure the security of the settlement fund. Sixth, bank settlement, bank supervision units conscientiously perform the contract and abide by the credit, thereby reducing the losses caused by the failure of the other party's credit.

Sixth, the implementation of pfer settlement, the bank can supervise the performance of contracts, abide by credit and so on, so as to reduce the losses caused by the other party's untrustworthiness.

The so-called starting point of bank settlement refers to the minimum amount for each bank pfer settlement business.

All payments that are insufficient to settle the starting point are usually settled in cash. The bank will not handle the pfer settlement.

The state stipulates the starting point of bank pfer settlement, which is not only conducive to controlling cash settlement, but also can not affect between units.

And normal economic exchanges.

If the settlement threshold is too low, the volume of bank pfer settlement will be greatly increased, which will not only increase pressure on banks, but also impede the development of economic activities among different units. The high starting point of settlement will expand the scope of cash settlement, which is not conducive to the control of cash flow in the country. Therefore, the starting point of bank settlement must be moderate.

According to the Interim Regulations on cash management, the starting point of the current bank settlement is 1000 yuan.

Of course, the starting point of settlement of various specific bank settlement methods is different, for example, the starting point of bank draft remittance amount is 500 yuan; the starting point of bank promissory note's quota is 100 yuan, and so on.

Details of this aspect will be introduced in detail later in the related projects.