Payment order
The payment order is banking the declaration of the payment service user (bank customer) to his account-operating bank that a particular payment transaction in the Single Euro Payments Area (SEPA) is to be executed. This also applies to international transfers outside the SEPA system.
The term payment order comes from payment service law, while in the private customer area it is usually referred to as transfer .
history
The term payment order originally comes from the no longer valid postal giro regulation of December 5, 1984. In the case of a postal check with the preprinted addition “not to order”, the postal giro office instructed the delivery post office according to § 15 para. 3 postal giro order to the recipient the amount debited from the account to be paid out (money order). The postal giro order expired in June 1991. The postal order made it possible for a sender to have the post office pay out an amount of up to DM 1,000 paid in cash to the recipient. With this postal service, which has existed since 1871, cash was paid in, sent cashless within the post office and then paid out in cash again. It was abolished in April 2002.
Payment order
The payment order in today's payment service law has been in effect since November 2009 and is legally defined in accordance with Section 675f (3) sentence 2 of the German Civil Code . Thereafter, it is a legal declaration by the payment service user to his account-keeping bank that a certain payment transaction is to be carried out. A “legal declaration” is to be understood as an agency law instruction within the meaning of Section 665 BGB in conjunction with Section 675c Paragraph 1 BGB. It is neither an instruction nor an order , but today's payment service law of § § 676a ff. BGB is based on a contract . The payment order becomes effective when it has been received by the bank holding the account ( Section 675n (1) BGB). This access is important for the execution period and the revocation of payment orders; because both start on the day of receipt. The execution period begins but not to run, if the bank will transfer the execution of a transaction to § 675o rejects para. 1 BGB, as it lacks sufficient credit or insufficient credit facility are available (lack of funds in the account ).
content
In addition to the payment amount, the international bank account number (IBAN) and bank identification code (BIC / SWIFT code) relating to the recipient are particularly important . In Austria, the changeover has been in effect since February 1, 2014. Errors in filling out the form lead to the rejection of payment orders; however, the law allows them to be corrected ( Section 675o Paragraph 1 BGB).
Execution time
The execution period is the period between receipt of a payment order and receipt by the payee's account-holding bank . In § 675s BGB, a distinction is made between domestic payments and cross-border payments with regard to the execution period:
- Domestic transfers are to be credited to the beneficiary's account within 1 business day of receipt (Section 675s (1) sentence 1 BGB), and within 2 business days for payment orders in paper form.
- Cross-border transfers to countries in the EEA in foreign currency must be credited to the beneficiary's account within 4 working days, on which all banks involved are usually open (Section 675s (1) sentence 2 BGB). This means that transfers denominated in euros to EEA countries are to be treated like domestic transfers.
Accordingly, there are no execution periods for payment orders for payees based outside the EEA, regardless of the currency.
revocation
A revocation by the payment service user is possible as long as the payment order has not yet been received by the account-holding bank ( Section 675p Paragraph 1 BGB) or as long as the debit is revocable ( Section 675j Paragraph 2 BGB). In the case of a direct debit , the revocation is possible until the end of the business day before the agreed due date (Section 675p (2) BGB).
form
The new SEPA payment order replaces the previous payment slips , payment slips , transfers and EU standard transfers (or international transfers ) as proof of payment .
Payment orders in foreign economic traffic
In Germany, anyone ( natural persons , companies , public sector ) can make payments abroad or receive payments from abroad without restrictions or official approvals ( international transfer ). However, the statistical reporting regulations for foreign trade must be observed.
The payment order in foreign trade is a form introduced in April 1961 for reasons of these reporting regulations, with which all transfers from and to foreign countries are to be reported. The payment order in foreign trade ( Section 60 (1) AWV ) contains a copy for the Deutsche Bundesbank and fields for foreign trade statistics . Since September 2013, the report has not been submitted using the document-based procedure, as a rule, with the transfer (so-called Z1 / Z4 report), but is currently submitted using form Z4. Payments to non-residents with bank details in Germany or payments from them can also be reported using form Z4 in accordance with Section 60 (2) AWV. According to Section 67 (1) AWV, residents must report payments of more than EUR 12,500 or the equivalent in foreign currency to the Bundesbank that they receive from non-residents (incoming payments) or make to them (outgoing payments).
International
In Switzerland , the payment order is also a mandate ( Latin mandatum ), e.g. T. also called money order . In Switzerland - and partly in Austria - the direct payment by the postman (money carrier) is also possible, which has not been offered in Germany since April 2002. There is also the option of making express money orders. These are forwarded by the bank to a correspondent bank by telephone, computer or fax and executed within a few minutes. The person collecting the card identifies himself with an ID or a password. The market leaders in this area are the US companies Western Union and the somewhat smaller MoneyGram .
In the United States the money order is ( english money order ) in accordance with Sec. 3-104 (f) Uniform Commercial Code (UCC) a check .
See also
Individual evidence
- ^ Ferdinand Kirchhof: Fields of activity of the Deutsche Bundespost, Postbank . 1990, p. 21
- ↑ Peter W. Heermann, Money and Money Transactions , 2003, § 10 Rn. 2, p. 172
- ↑ The money order . help.gv.at
- ↑ The new money order . ( Memento from October 21, 2014 in the Internet Archive ) austrianpaymentscouncil.at