cash deposit
The cash payment is the payment a deposit , in which the payer cash against receipt in a cash pay. The counterpart to the cash deposit is the cash payment .
General
A cash deposit is a payment process in which a payer transfers cash to the payee or a credit institution . With the transfer of the amount of money, there is a transfer of ownership of the amount of money to the payee. By paying in cash, cash is transformed into book money . The cashier checks the amount of money and issues a receipt. Cash payments are mainly made to authorities (payments of duties , fees or taxes for the purposes of the authorities) and credit institutions (payments for the payer's own purposes into their own accounts or payments of third-party bills ). Reasons for the cash deposit can cash surplus of the consumer or the ticket office of a store to be. Furthermore, debtors can use it to settle their liabilities without having their own bank details or using them for this.
The business transaction of a cash payment is documented in the bookkeeping by posting . It leads to an increase in cash on hand . Cash deposits increase an existing credit balance as a credit on the giro account of the payee and reduce an existing debit balance or convert a debit balance into a credit balance. There are also ATMs with a cash deposit function, but only allow deposits to be made into your own account.
In addition to cash payments, payments in terms of economic flows also include increases in sight deposits or reductions in debts .
Transactions with a credit institution
General
Cash deposits at credit institutions are made by the person making the payments as the holder of a bank account or to the bank account of a third party. The deposit is generally accepted at a cash register in the business premises of the bank or savings bank. Some credit institutions offer deposit machines that accept cash outside of business hours. However, this is only possible for your own customers. Larger cash deliveries by means of cash transporters are processed in specially secured areas, often in direct contact with the main cash register . The transaction takes place in the so-called cash transaction. In Germany, this process is legally referred to as a payment service contract . The payment service user is obliged to pay the payment service provider the previously agreed fee for a payment transaction ( Section 675f BGB ).
Banks may not charge bank fees for cash withdrawals and cash deposits at ATMs from and to your own account. At the bank counter on the other hand must cover costs bank charges are levied, for cash deposits and cash payments provide a payment service according to § 675f para. 5 sentence 1 German Civil Code, for a fee as consideration must be agreed and demands. According to this ruling, a bank is not generally prohibited from including bank charges in its general terms and conditions for cash deposits and cash withdrawals to or from a giro account at the bank counter , even if there is no (reasonable) 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.
The provision of the amount of money in favor of the payee in the case of cash deposits is regulated by Section 675t BGB. If the payment amount is subsequently to be credited to a payment account of the payee, the credit - even if it is made retrospectively - must be made in such a way that the point in time on which the payment service provider calculates the interest when an amount is credited or debited to a payment account ( value date ), at the latest is the business day on which the payment amount is received on the account of the payee's payment service provider. If a consumer pays cash into a payment account with a payment service provider, this payment service provider ensures that the amount is made available to the payee and is validated immediately after the time of receipt. If the payment service user is not a consumer, the amount of money must be made available to the payee at the latest on the business day following receipt and value added (Section 675t (2) BGB).
Cash payment into your own account
An account holder or his agent (for example an employee or a money transport company) uses such a cash deposit to top up an existing bank balance or reduce a credit drawn, typically in his current account .
In practice, cash deposits dominate from retail revenues, mainly using money bombs or in money bags (their contents are always pre-counted). Large cash deposits are usually made by a security service specializing in money transport , who picks up the money from its contractual partner and pays it into the bank or savings bank. Money bombs can be dropped in night safe mailboxes at bank buildings at any time ; The inside of the money bombs contain a completed payment slip in addition to the money. Besides retail stores are among other things, cash contributions from vending plates as from public bodies parking fees revenue or operators of amusement rides to work.
There are also payments from private individuals to their checking accounts or those who simply hand over their coins from the “savings stocking” and receive a credit in their savings account . In order not to cause excessive waiting times at the till, some credit institutions provide their customers with coin counters . These devices include machine that inserted by the customer Coinage and issue a receipt to the customer at the cashier brings to booking. If such devices are not available in a branch, the change saved is accepted in plastic bags with clearly identifiable barcodes and booked later at the main office.
The customer receives a receipt for cash deposits (carbon copy of the deposit slip); only for cash deposits in the savings book does the automatic receipt printout replace the slip.
According to a ruling by the Federal Court of Justice (BGH), paying in cash to your own account was free. Furthermore, the BGH ruled in January 1989 that cash deposits on current accounts with the value date must be booked on the same day. According to the new regulation of § 675f paragraph 4 sentence 1 BGB, the payment service provider can charge a payment service. In the payment services Inspection Act (ZAG) states that services with which the cash deposit is made possible on a payment account, a payment service is ( § 1 , sentence 2 ZAG paragraph 1).
Cash payment in favor of a third party
Private individuals, which can also be non-customers, also make cash deposits at the till for the benefit of a third party, for example to settle an invoice. The nationwide uniform “ payment slip ” form is used for processing.
The depositor instructs the bank to give the amount to the recipient, such as transfer to the said typically recipient's account or by money order . The bank first posts the equivalent value of the cash amount received to an internal clearing account. From there, it is forwarded to the recipient's account in-house or to the bank holding the account.
Paying in cash to a third party is subject to a fee for the payer at both German and Austrian banks; a fee is charged that varies depending on the bank. The amount can also depend on whether the payer is known to the bank as its customer. The fee results from the price notice or the more extensive list of prices and services of the institute, which the customer advisor has available for inspection. Many institutes make an exception to the obligation to pay a fee for donation payment slips for charitable organizations, which are specially marked for printing.
Cash payment in over-the-counter transactions
In a over- the- counter shop, the cash deposit is the consideration for the purchase of sorts , precious metals (in the form of gold or silver coins , medals , bars ) or securities .
Cash deposits can also be made in foreign currencies . From the bank's point of view, a currency purchase is then made. It occurs, for example, when private individuals want to convert freely convertible foreign currency that is not required from a trip abroad back into domestic currency. Often only foreign banknotes are taken back by the credit institutions , because token coins increase the expenses in the institutions noticeably.
Cash movement with the central bank
The credit institutions, for their part, make cash deposits of banknotes and / or tokens at the respective national central bank, in Germany with the Bundesbank branches . The regulations on the delivery of bundled banknotes or coin rolls in money bags are observed. The credit institutions also use companies specializing in the transport of money .
Transactions with other financial service providers
In the financial transfer business for the execution of express payment orders, for example, the providers MoneyGram or Western Union accept cash deposits . They then ensure that the amount goes to the beneficiary abroad.
Other transactions
Even if cash deposits now mainly affect credit institutions and other financial service providers, they cannot be ruled out in other industries or positions. Until the 1980s there were public treasuries that traditionally accepted cash. In the public sector, however, the trend towards cashless payment has established itself in the modern world for reasons of cost . However, municipal utilities or other energy supply companies still have the option of paying a debt due by cash.
Money Laundering Act
The acceptance of large amounts of money is subject to the respective legal and other provisions on money laundering . The person making the deposit must therefore be identified by the cashier if necessary .
For deposits of 15,000 euros or more (also in the form of " smurfing ", i.e. individual deposits totaling 15,000 euros, Section 10 (3) No. 2 of the Money Laundering Act ) or types with the equivalent of 2,500 euros ( Section 25k (1) KWG) this is mandatory in Germany.
Individual evidence
- ↑ Hans-Paul Becker, Arno Peppmeier: Bankbetriebslehre , 2011, p. 155.
- ^ Sönke Peters, Rolf Brühl, Johannes N. Stelling: Betriebswirtschaftslehre , Oldenbourg Wissenschaftsverlag, 2005, ISBN 3-486-57685-2 .
- ^ Gabler Wirtschaftslexikon, article cash deals
- ↑ BGH, judgment of November 30, 1993, Az .: XI ZR 80/93 = BGHZ 124, 254
- ↑ BGH, judgment of June 18, 2019, Az .: XI ZR 768/17 = NJW 2019, 3771
- ↑ BGH, judgment of November 30, 1993, Az .: XI ZR 80/93
- ↑ BGH, judgment of January 17, 1989, Az .: XI ZR 54/88 = BGHZ 106, 259
