Non cash payments - how does it work?

In Union Investment non-cash payments are considered payments on the fund register by bank transfer.

To make non-cash payment, the firm must have an open register in the fund - otherwise money transfers on the fund account will not be assigned to any account and will return to the bank account from which it was sent.

Transfers to the fund register can apply to 2 situations:
1. When the register is newly opened and no payment has yet been made on it - the first payments.
2. When the register has already opened, and the firm wants to make additional payments - sequential payments.

The site has been last updated on: 22.07.2011