The present article is focused on the key issues concerning the role and significance of settlement relations in theory of Banking Law and their regulation by Russian Legislation. The author analyses the legal nature of settlement relations in their interaction with the category of money obligations, having proposed the own definition of such relations. The subject of research also includes the types and forms of settlement relations identified in theory of Banking Law and Russian Legislation. Author’s conclusions are based on scrutinized analysis of many doctrinal sources and normative documents.