PAYMENT TRANSACTIONS IN THE NAME AND ON BEHALF OF BANKS
FINA performs payment transaction activities for bank clients in the name and on behalf of banks pursuant to Agreements and Technological Models. Depending on the agreement, the following payment transaction activities are performed for bank clients:
opening and management of client accounts, management of client’s account registry, acceptance and verification of payment order correctness, processing payment order data, performance of payments and disbursement of cash, registration of payment transactions in accounts, delivery and acceptance of payment transactions in inter-bank payment accounting systems, keeping records on the payment order of precedence and other prescribed records, reporting to clients, deposit and storage of documentation with payment transaction data.
There are three basic models of cooperation with banks:
Model I – full model in the name and on behalf of the bank
Model II – full model with implementation of FINA’s service in bank’s business network
Model III – model of selected payment transaction services for bank clients