Role and Significance of Payment Cards in Money Transfer Operations

The article is devoted to the consideration of the procedure for using payment (bank) cards when transferring funds. It is indicated that at present scientific and technological progress has led to the acceleration and improvement of settlement mechanisms, the introduction of new and optimization of already provided banking services in general. Payment (bank) cards are very popular. In the course of the study, the features characteristic of bank transfer by means of payment (bank) cards were identified. The study of the practice of using payment (bank) cards has shown that the gaps and inaccuracies existing in Russian legislation lead to an increase in the number of disputes involving citizens — cardholders. In order to avoid business risks, banks fix in their local acts a ban on the holder to transfer a payment (bank) card, as well as details, codes and passwords to it to a third party. In this regard, the article emphasizes the importance of familiarizing citizens — holders of payment (bank) cards with local acts of banks in order to ensure security when using cards and prevent unauthorized transfers.