161 of the Federal Law "On the National Payment System" formulates its organizational and legal principles, the procedure for the provision of services. It, among other things, stipulates the rules for the transfer of funds, the use of electronic tools, the requirements for entities involved in the relevant legal relations. 
161 Federal Law "On the National Payment System": the essence of legal regulation
A normative act is based on the provisions of the Constitution and international treaties. To regulate legal relations in the NPS, the Government and state executive bodies can adopt legal documents within their powers. The Central Bank has a similar right.
Basic concepts
Consider the key terms that 161 Federal Law "On the National Payment System" uses. Explanations of concepts are given in Art. 3:
- NPC. The national payment system is a complex of entities that provide money transfer services.
- Translation operator. It is an organization that has the right to carry out the movement of money, including electronic means and without opening an account.
- Payment banking agent (subagent). He acts as a legal entity that is not a credit company. An agent can be an individual entrepreneur. These entities are attracted by a credit institution to perform certain operations. This item was previously absent in the 161 Federal Law "On the National Payment System". Changes were introduced on May 5, 2014.
- Payment system operator. It is an organization that determines the rules of the structure, performs other duties provided for in the regulatory act.
- Infrastructure services operator. It includes the operational, settlement and payment clearing centers.
- Operations Center. It is an organization that provides participants and customers of the system with access to funds transfer services.
- Clearing Center. This component of the system accepts instructions of participants on the implementation of transfers and the execution of other actions that are provided for by the Federal Law under consideration.
- Settlement Center. It ensures the execution of orders received from participants by debiting and crediting funds to bank accounts, and sends confirmations of completed operations.
- Money transfer. It includes the actions of the operator within the framework of the non-cash payment forms associated with the provision of funds to the recipient from the payer.
Service
Regulatory act n 161-ФЗ "On the national payment system" establishes a specific procedure for the execution of funds transfer operations. The document, in particular, stipulates that the operator provides services in accordance with agreements concluded with customers and between entities for the transfer of money, within the limits of the types of cashless payments used in accordance with legal requirements. Regulation of the activities of banking agents (subagents) is carried out in accordance with Art. 14 of the Federal Law of the Russian Federation 161 "On the National Payment System". Postal service organizations carry out operations to transfer funds according to the relevant regulatory act. It is Federal Law No. 176. 
Translation Order
Law 161-ФЗ "On the National Payment System" establishes that the operator performs actions with funds by order of the payer or recipient.This order is executed in accordance with the form of cashless payment used. The transfer is carried out by the payer. They are debited from his bank account or provided to him without opening a payroll account. 161 Federal Law "On the National Payment System" provides:
- Crediting funds to the beneficiary's account.
- Cash withdrawal.
- Accounting of funds in favor of the recipient without opening an account (in the case of electronic money transfers).
The timing
According to 161 Federal Law "On the National Payment System", funds are transferred within no more than 3 days. An exception to this rule are operations with electronic money. The calculation of a three-day period starts from the date of debiting the funds from the account or from the day the payer provides the cash (if the transfer is made without opening a payment account). 
161 Federal Law "On the National Payment System": comments
The normative act establishes that from a certain moment the payer loses the right to withdraw the order on the transfer. It occurs immediately after debiting funds or providing cash. A different rule may be provided within the framework of the used calculation form or Federal Law. The unconditionalness of the transfer occurs at the time of fulfillment of the conditions defined by the recipient / payer or other entities. These include, but are not limited to, the implementation of the counter direction of money in another currency, the transfer of securities, and the provision of documents. Unconditionality can occur in the absence of any conditions.
Finality of the translation
It is defined in 161 Federal Law "On the National Payment System" depending on the operators. If the recipient and the payer are served by one entity, the transfer is final when the money is credited to the account or if it is possible to receive cash. An exception is electronic transactions. If the payer and the recipient are served by different entities, the final transfer occurs when the amount is credited to the account of the recipient's operator.
Informing
The operator who transfers the funds, before making the transaction, must provide customers with the opportunity to familiarize themselves with the terms of service. Information should be made available to individuals. Clients, including, receive information about:
- The amount of remuneration and the procedure for its collection, if it is provided for in the contract.
- A method for determining the exchange rate used in the transfer of foreign currency.
- The procedure for making claims, including information for communication with the operator.
- Other material data due to the applicable calculation form.
Duties
The client must provide the operator making the transfer of funds with reliable information to contact him. When changing contact information, the entity must provide timely updated information. Operator Responsibilities in the direction of the notifications provided for by the Federal Law under consideration, it is deemed to be completed upon sending the notice in accordance with the data provided by the client.
Features of electronic transfer
The client provides funds to the operator under the terms of the contract. An individual can transfer money using his account or not opening it (in cash). If the client is a legal entity, then the provision of funds is carried out only through r / s. The transfer is made in accordance with the order of the payer in favor of the recipient.
An operation can be carried out between entities serviced by one or several different operators. When transferring electronic funds, a legal entity or an entrepreneur can act as payers if the recipient is an individual. The operation is performed by simultaneously accepting the client’s order, reducing the payer balance and increasing it at the recipient by the stipulated amount. The transfer is carried out immediately after the acceptance of the order. 
Offline mode
It can be provided for in the operator’s contract with the individual client acting as the payer and the legal entity / individual beneficiary. Offline mode implies the non-simultaneity of the actions indicated above. When using it, the recipient must daily transmit information to the operator about the operations performed for accounting. Information should be received no later than the end of the work shift of the serving entity. When applying the offline mode, the operator sends the payer and, if provided for in the contract, the recipient of the transfer confirmation immediately after taking into account the information received. 
Irrevocability in the transfer of electronic funds
In stand-alone mode, it occurs at the time the client uses the appropriate payment tool. The final transfer is considered after accounting for the data by the operator, in the manner specified above. When irrevocability occurs, the payer’s financial obligation to the receiving customer is terminated. The operator on an ongoing basis keeps track of information on the balances of electronic funds and transfers made. They, by order of the client, can be credited to a bank account or issued in cash. This opportunity can be used by both individuals and organizations and entrepreneurs. Operators do not have the right to charge interest on the balance or pay any remuneration to the client. The serving entity also cannot provide funds to increase the remaining amount of electronic money.