Domestic Payment operation
The Domestic payment operations are all payments in denars performed by the participants in the payment operation through institution responsible for conduction of payment operation.
Institution responsible for conduction of payment operation is National Bank of the Republic of Macedonia, the banks with permission for conduction payment operation in compliance with the Law, affiliates of foreign banks and the Treasury at the Ministry of finance as individual institution responsible for payment operations of budget users, individual users and other institutions in compliance with the Law.
Participant in the payment operation is domestic or foreign legal or physical entity who perform registered activity or other physical entity who makes payment in denars through institution responsible for conduction of payment operation.
The participant in the payment operation is identified through transactional account comprised of 15 numbers and represents unique and specific numeral data through which the payments are made.
Participant in the payment operation can have:
- several transactional accounts with one institution responsible for conducting payment operation
- transactional accounts with more institutions responsible for conducting payment operation
In compliance with the Law for payment operation (Official gazette no. 113/2007) the payment operations in the Republic of Macedonia are conducted only through transactional accounts which are reported to the unique registry of transactional accounts (ERTS) . In compliance with the Law for payment operation, payment is not permitted between participants in the payment procedure which is not conducted through transactional accounts.
NLB Tutunska Banka AD Skopje is institutional responsible for conducting domestic payment operations and part of the payment system in the Republic of Macedonia, where all denar payment transactions of its own clients are conducted through:
1. Internal payment operation
– payment between bank clients (payment system within the framework of a bank), which is the cheapest and the quickest way for effecting payment orders. In the same time the bank conducts all cash payments (ingoing and outgoing payments).
2. External payment operation
– inter-bank payment operation where the participants from two banks can make their payments through two settlement systems:
- МIBPS – Macedonian inter-bank payment system, or settlement system of NBRM. It is used for emergent and huge payments of and above 1.000.000 denars.
- CIBS – Clearing inter-bank system, or settlement system in Clearing house. Settlement between banks which is conducted at the end of the accounting day for orders up to 1.000.000 denars.