The use of seals in payment transactions is no longer mandatory
The National Bank of Serbia adopted amendments to the by-laws in the field of payment operations and thus specified the provisions related to the non-obligatory use of seals of economic entities.
Although the National Bank of Serbia in 2014, with the adoption of the Law on Payment Services and the adoption of the accompanying bylaws, in fact abolished the obligatory use of seals of economic entities in connection with payment services, it was noticed that in banking practice the solutions on the basis of which businessmen in they use a seal everyday (for example, for checking payment order forms at the counter), when they do not take advantage of electronic and mobile banking.
In order to improve and harmonize the practice of banks and to eliminate all the concerns about the use of stamps among the companies and entrepreneurs, the adopted solutions clearly emphasize that banks can not refuse to provide payment services only because the client does not want to use the bank in his business with the bank seal.
What does this mean for the economy?
First of all, business entities who have had open accounts and at the counter used the seal for payment of payment orders in the country and abroad, can simply, from 1 October, submit a written request to the bank to request that they no longer use the stamp. The Bank is obliged to provide them with the signing of signed payment orders without requiring the client to authenticate them without the annexation of the contract the next day.
Legal entities and entrepreneurs who open new accounts are not obliged to verify the request for opening an account, bill of deposit, payment orders, bill of exchange and other documents related to payment operations as of 1 October, unless explicitly requested by the bank and contracted with her.
Source: NBS
