Banking day at Sberbank for legal entities and individuals: until when {q}

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Published: September 22, 2018

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The legislation of the Russian Federation (including banking and tax regulations) does not officially interpret the concept of “banking day”.

When using this phrase, experts mean the time period of a specific day of the work week during which employees of a financial institution (bank) carry out payment transactions dated by the current date. Payment transactions mean a significant volume of types of work carried out by bank employees. During the banking day, bank employees receive and serve clients, conduct credit transactions, finance capital investments and conduct cash transactions (acceptance and withdrawal of cash).

• How do the categories of “banking”, “working” and “calendar” days relate?
• Methodology for calculating the number of banking days
• Online operating hours calculators

In some cases, the duration of the banking period is equated to the total working time of the organization, but more often this term describes the operating hours of a particular bank, since the activities of a financial organization involve the use of technological operations. In this regard, the concepts of “banking” and “operating” day often describe the same time period.

During operating hours, bank employees accept documents for acceptance or withdrawal of funds, and also process, transfer and execute them. Often, to carry out one or another type of operation, a specialist requests confirmation from employees of higher departments, interacts with colleagues and always depends on the functioning and efficiency of the bank’s operating system. All these factors affect the actual duration and productivity of operating hours.

There is no single national or international standard for the duration, as well as the beginning and end of banking time. Each bank determines these characteristics individually and seals them with an internal document.

The approved regulations of a specific financial company establish the hours of the calendar working day, during which all transactions performed are dated on the same day. Working hours of a bank branch are not always equivalent to the time of operational customer service . It happens that the branch is still open to receive visitors, but cash settlement services are no longer provided. This suggests that the “banking day” is already over.

Please note that reliable information about the beginning, end and duration of the operating day, as well as the bank’s work schedule, is provided only by employees or official information resources of a particular financial institution.

Definition of the concept

Banking day (BD) is not a universal concept, since each financial organization has its own specific “banking days” depending on the specifics of its work. Banking days themselves refer to working hours during which the organization engages in settlement activities and serves clients.

From a legislative point of view, there are no requirements for the database, and therefore each bank has the right to fix the amount of this time period independently. The length of the banking day determines the dating of certain financial procedures, which is a mandatory element of reporting.

Throughout the banking day, accountants prepare reports

In the context of a banking day, such an important phenomenon as the operational and accounting cycle is considered. Information about this cycle should be contained in documents such as:

• accounting reports;
• daily report on the value of property and bank liabilities.

Sources

Sources of information used.

• https://vozvrat-tehniki.ru/kak-schitat-bankovskie-dni-po-dogovoru.html
• https://zmakemoney.com/chto-takoe-bankovskij-den-v-dogovore.html
• https://zakonguru.com/zpp/uslugi/bankovskii-den.html
• https://zakonpotr.ru/bez-rubriki/bankovskiy-den-eto-kalendarnyj-ili-rabochij.html
• https://bankspravka.ru/bankovskiy-slovar/bankovskiy-den.html
• https://gderaznica.ru/social/bankovskie-dni-i-rabochie.html
• https://www.sravni.ru/enciklopediya/info/bankovskij-den-ehto/

Legal basis

As already mentioned, Russian legislation does not contain any articles or provisions that would provide comprehensive and accurate information about the accounting day. Due to the fact that the laws of both the banking and tax spheres remain silent on this issue, banking days can be identified with the following intervals:

• working days, the duration of which is determined by the management of the financial organization;
• operating hours (their duration is shorter than the length of working days - for example, one working day may have 5-6 operating hours).

At the legislative level, the banking day is not designated in any way

In practice, an operating day can be either shorter than a working day or equal to it, depending on the operating rules of a particular institution. The difference between a trading day and a working day lies in the way it is formalized. The duration of the “Operational Day” must be fixed in an official order, which is issued by the management of each bank.

Reference. If you want to obtain information about the operational hours of a specific financial organization, you must contact its employees. Unlike working hours, information about information is difficult to find on the website or on any other media.

Ask bank employees about operating hours

Difficulty of definition

The reason why the issue regarding the identification of a banking day has become the topic of an entire article is very obvious - this term is very vague and there are objective grounds for this vagueness. So, there are several difficulties that prevent us from giving an unambiguous definition of the database:

• each credit institution sets its own work schedules and has its own rules for customer service;
• In the network of the same bank, different offices can operate on databases of different durations. This feature can create problems not only when communicating with other banks, but also with subsidiaries of one organization;
• The banking day in many cases does not coincide with the working day, which is specified in the organization’s documents. This discrepancy becomes especially obvious during the New Year holidays, when most of the employees’ time is spent on preparing annual reports;

  

  Banking day is not the same as working day

• absolute freedom in determining the boundaries of the banking day periodically leads to misunderstandings when conducting interbank transactions.

How does the calculation work?

The calculation of banking days involves the summation of all working days of a credit institution - days during which the bank engages in various settlement operations. Banking days may include both weekends and holidays. The main criterion for counting days is not their overlap with various holidays, but the presence or absence of financial services.

When preparing reports, it is important to distinguish between banking and working days

Accountants involved in the preparation of various documents and reports should clearly distinguish between three concepts:

• calendar day;
• working day;
• banking day.

Thus, answering one of the common questions about whether a banking day is a working day or a calendar day, we can say unequivocally - a banking day is neither one nor the other.

Differentiation of concepts

Let's repeat it again:

• working days mean the total duration of the institution’s functioning throughout the entire day. The working day includes both the implementation of operational activities and the implementation of other procedures that do not involve interaction with clients;
• During banking days, employees of the organization are engaged in receiving or paying out funds associated with a variety of payment procedures, depending on the procedures specific to a particular bank.

Failure to distinguish between banking days and calendar days will lead to significant errors in reports

Neglecting the content of these concepts will inevitably lead to confusion in contracts and offensive mistakes. Therefore, from all these terms, which seem synonymous, it is important to choose the one whose content most correctly reflects the intent of the specialist preparing the documents.

Purpose of the database

After we have figured out that failure to distinguish between calendar, banking and working days can lead to unfavorable consequences, let’s talk about the purposes for which the banking day was introduced. So, a banking day has the following set of characteristics:

• the day starts with the conversion of the remaining part of incoming funds into foreign currency;
• at the end of the day, employees are preparing bank reports, which will confirm that the bank has not violated any regulations;
• throughout the day, employees are allocated a certain number of hours for customer service;
• a day includes fixed operating time, which is allocated to a branch of the Bank of Russia, whose tasks include maintaining a correspondent account for a commercial financial organization.

At the beginning of the banking day, currency conversion occurs

When is it advisable to ferment cabbage according to signs?

The most important sign about the timing of fermentation is known to any housewife. The product tastes best after frost.

But this is not the only sign.

• From time immemorial, it was believed that salt should be added on men's day (Monday, Tuesday, Thursday) or on a neutral day (Sunday).
• The most delicious preparation is obtained from white flattened heads of cabbage.

On practice

Despite the fact that banking days for different institutions may have their own specific details, it is possible to identify several common features. First of all, a banking day determines the time boundaries within which hours are allocated for the implementation of financial transactions based on the internal regulations of a particular bank. It is necessary to take into account that the schedule covering the receipt and payment of financial resources does not coincide in all cases.

The main difficulty in interaction between banks is the discrepancy between operating hours

In order not to make a mistake with the time, it is recommended to find out about working days in advance from bank tellers. Also, you should take into account the fact that some banks prefer to handle settlements during weekends and holidays. This approach implies an inevitable increase in the duration of financial transactions.

When not to salt cabbage

If you focus on the zodiac constellations, then the days when the moon is in the constellations Cancer, Pisces and Virgo are not suitable for preparing the dish.

INTERESTING. In Rus' there used to be a belief that it was forbidden to ferment cabbage on “women’s” days (that is, feminine days of the week). This is Wednesday, Friday and Saturday.

Another sign associated with the ban on sauerkraut. You can't make a dish in a bad mood. The product will be tasteless and will spoil quickly.

Settlement and cash services

Separately, I would like to touch on the topic of banking days in the context of cash settlement services. Databases, in relation to cash settlement services, have a variety of operational tasks, depending on the chosen credit institution. The operating hours of certain bank branches must be obtained from employees.

The type of payments made is determined by the time at which payments occur. The time it takes bank employees to process specific types of payments can increase to several days and does not depend in any way on the length of the operating day. As a rule, delays in completing these transactions can be encountered during holidays. The reason for these delays is a discrepancy between the schedules of certain financial structures.

You can read more about what RKO is and why it is needed below.

What is cash management services?

What is a banking day?

The time period during which payment transactions of banking institutions are carried out is considered a banking day.

Most often, financial institution specialists make payments between 10:00-16:00.

The work begins from the moment electronic payment systems open and ends when they close.

During the banking day, any settlements are carried out between individuals, legal entities, financial institutions, incl. banking.

It is often at this time that operations are carried out to transfer funds from an account in one bank to an account in another, which can be formed by the client independently, regardless of the time of day.

We invite you to read: Forced collection of tax penalties and fines

Contract deliveries

Banking day is also important for contractual deliveries. The fact is that when concluding all kinds of agreements on the periods of delivery of goods, the time period that is allocated for the implementation of obligations is calculated precisely in banking days. And due to the fact that this concept does not have an unambiguous formulation, the boundaries of banking days must be clearly stated in the agreement, the goals of which are:

• regulation of the rights of the parties to the agreement;
• listing the obligations of the parties to the agreement.

To avoid violation of delivery deadlines, contracts should indicate banking days in advance

If the agreement uses the concept of “banking day” without specifying its duration, mutual settlements will face a number of difficulties. Moreover, inconsistency in the operating modes of cooperating credit institutions is one of the most common reasons why conflicts arise between counterparties. Meanwhile, disagreement can be easily avoided by thinking through and discussing the delivery time frame in advance.

Why ferment cabbage according to the lunar calendar

The choice of the timing of the procedure according to the lunar calendar is due to the influence of lunar phrases on the salting procedure.

The bottom line is that sauerkraut is the most common fermentation that is triggered by bacteria. They, in turn, carry out their life activities in accordance with the phases of the lunar calendar.

So the most successful time to pickle cabbage is the waxing moon. During this period of the lunar cycle, bacteria are most active. Because of this, the product turns out juicy, crispy, and well salted.

On the contrary, choosing an unlucky day according to the lunar calendar will lead to the fact that the dish will quickly turn sour, the shredder will be sluggish and as if chewed. Such periods are the days of the new moon and full moon.

Therefore, it is important to correctly determine the time according to the lunar calendar.

Functions of banks

At the end of the article, we will give a more complete description of some of the functions of banks, which were repeatedly mentioned in the text.

Table 1. Main functions of banks