Cash payment
The cash payment is the payment a payment in which the payee of a cash against receipt of cash obtained. The counterpart to the cash payment is the cash payment .
General
The cash payment reduces the payer 's cash on hand. When the money is handed over , ownership is transferred to the payee. By cash payment will deposit money transformed into cash. The cashier checks the amount of money and pays it out by counting . Reasons for cash are the cash shortage of the consumer or in the box office of stores , or payer without bank thereby meet their liabilities as of continuous obligations (such as rent , utilities , insurance premiums ). Cash payments are primarily made at credit institutions (for the consumer's own purposes or to pay third-party bills ). Cash payments are also common at POS terminals in supermarkets. The cash payment is also called a withdrawal .
The business transaction is documented in the bookkeeping by posting . It leads to a reduction in the cash balance. Cash payments reduce an existing credit balance as a debit to the checking account and increase an existing debit balance or convert a credit balance into a debit balance.
In addition to cash payments, payments in terms of business flow also include reductions in sight deposits .
Transaction with a credit institution
Economic entities ( private individuals , self-employed , employees or legal entities ) generally obtain cash from a credit institution . The cash payment of employees in the form of a wage packet , which was customary in earlier decades, is usually replaced by cashless payment transactions .
Cash deposits and cash withdrawals at the bank counter can be priced as payment services through bank charges . According to this ruling, a bank is not generally prohibited from including a fee in its general terms and conditions for cash deposits and cash withdrawals to or from a current account at the bank counter, even if there is no (appropriate) free item regulation. Because after the payment services law came into force, such a clause is no longer subject to content control . Clauses that price cash deposits on or cash withdrawals from current accounts at the bank counter, as such, determine the price for a main contractual service, with the result that they are not subject to content control in principle. Cash deposits and cash withdrawals represent a payment service according to § 675f Paragraph 5 Clause 1 BGB , for which a fee may be agreed and demanded as consideration .
Cash from the ATM
The majority of customers use ATMs provided by banks to withdraw amounts of money from their own bank account . In Germany, 84% use the ATM at least once a month (including 41% at least once a week), while only 25% prefer to use the counter (including 8% at least once a week). Only 12% do not use the ATM at all, but 54% do not go to the counter.
ATMs are partially accessible around the clock and are also set up in frequently frequented locations such as shopping centers , train stations or airports . After inserting the EC card or a customer card of the bank and entering the PIN and the desired amount, banknotes are automatically paid out to the cardholder if sufficient funds are available .
Cash from the till
The recipients of the money can be account holders or third parties. The payment is usually made at a cash desk in the premises of the bank or savings bank. Normally, an account holder or an authorized representative - but not another third party - can receive cash against a receipt on a bank's own payment slip . Legitimation usually takes place by signature , in exceptional cases also by presenting an official photo ID .
In general, giro transactions require the presentation of a fully completed cashier's check that the account holder or someone with the authorization to sign has signed. The cashier verifies that the check is cashed and that the signature (s) is / are valid. The recipient of the money acknowledges with his signature on the back of the check. The check amount is then paid out in the desired denomination .
Companies, merchants and other organizations usually announce their larger cash orders and the desired denominations in advance. After checking the check that you have brought with you, the money is collected by the money transporter in specially secured areas, often in direct contact with the main cash desk .
In savings transactions , withdrawals from a savings account require the presentation of the savings book . Anyone who presents one is generally considered to be legitimized to receive the money. The agreement of a password offers additional security against unauthorized disposal . The recipient of the money must sign the necessary payment slip.
A cash payment can also occur, for example, if a private bank customer wants to take the equivalent of an approved installment loan with him in cash. On the payment slip there is not only the customer's receipt for the receipt of the money, but also the internal payment instruction to the cashier by an authorized bank employee.
Cash payment in over-the-counter transactions
The payment in cash is at a counter transactions , the return for the purchase of varieties , precious metals (in the form of gold or silver coins , medals , ingots ), travelers checks or securities by credit institutions.
There are also cash payments in foreign currencies . From the bank's point of view, a currency sale is then made. Private individuals traveling abroad can use it to secure cash to pay for purchases or other expenses in the country they are visiting. The equivalent value for the sale of sorts is either debited to the customer's account or paid in cash in local currency, depending on the customer's wishes.
Cash movement with the central bank
For their part, the credit institutions arrange for cash withdrawals for banknotes and / or coins to be made at the respective national central bank , in Germany by their Bundesbank branch. They can be in their disposition of the cash balance those denominations provide, they need their customers for the money supply. The credit institutions also use companies specializing in the transport of money , whose two employees are given a cash check signed by two authorized bank employees . For security reasons, the four-eyes principle applies . The pick-ups are in time phone the central notified , so that they provided with a plastic film welded money packets or sealed can provide cash bags of coin rolls.
Other transactions
Cash payments are not limited to credit institutions alone. Are conceivable among others
- cash inflows to beneficiaries in the money transfer business
- Cash payment of support through social assistance
- Cash settlement in option transactions , i.e. payment of cash instead of delivery of a material asset or security
In the postal service , the payment instruction has been created for settlement . The payee or a person authorized by him can have the amount paid out in cash at any Deutsche Post or Deutsche Postbank payout point. There are withdrawal fees for this. Deliverers can act as mail carriers. The postal order no longer applies.
Money Laundering Act
The transfer of large amounts of money is subject to the respective statutory and other provisions on money laundering . The payee may therefore have to be identified by the cashier .
This is mandatory in Germany for payments of 10,000 euros or more ( Section 10 (3) No. 2 Money Laundering Act ) or types with the equivalent of 2,500 euros ( Section 25k (1) of the Banking Act ).
Web links
Individual evidence
- ↑ Hans-Paul Becker / Arno Peppmeier, Bankbetriebslehre , 2011, p. 155
- ^ Sönke Peters / Rolf Brühl / Johannes N. Stelling: Business Administration . Oldenbourg Wissenschaftsverlag, 2005, ISBN 3-486-57685-2 ( preview in Google book search). queried on December 7, 2016
- ↑ BGH, judgment of June 18, 2019, Az .: XI ZR 768/17 = NJW 2019, 3771
- ↑ BGH, judgment of June 18, 2019, Az .: XI ZR 768/17
- ↑ Statista - The Statistics Portal, How often do you use the ATM or the bank counter to dispense money? , 2017
