Up
The bank gives a present of cash to itself
14.12.2015
The banks do not steal their clients’ money – this is deleterious for the business reputation and may cause prosecution. However, a bank may give a gift to itself – especially if the respective provision has been thoughtfully included in the rules.
Alexander Rudyakov, Senior Associate of the Law Firm “YUST”, discussed with the Pravo.ru portal how and why the banks give themselves the money of the credit card holders as gifts.
The bank may legally give itself a gift in the form of the client’s money: "Such contractual term is not against the Civil Code. It should be classified as an element of gifting (Article 572 of the Civil Code), and the agreement itself as a mixed one (clause 3 of Article 421 of the CCRF). In particular, the gifting element is that the client gratuitously transfers (gifts) the funds to the bank, when a certain situation arises. From the viewpoint of the CCRF, such legal construction is possible. Still, such term obviously infringes upon the client’s rights, since it actually “forces” the client to make a gift, whether there was such intention or not" – Alexander Rudyakov explained.
The banks do not steal their clients’ money – this is deleterious for the business reputation and may cause prosecution. However, a bank may give a gift to itself – especially if the respective provision has been thoughtfully included in the rules.Alexander Rudyakov, Senior Associate of the Law Firm “YUST”, discussed with the Pravo.ru portal how and why the banks give themselves the money of the credit card holders as gifts.
The bank may legally give itself a gift in the form of the client’s money: "Such contractual term is not against the Civil Code. It should be classified as an element of gifting (Article 572 of the Civil Code), and the agreement itself as a mixed one (clause 3 of Article 421 of the CCRF). In particular, the gifting element is that the client gratuitously transfers (gifts) the funds to the bank, when a certain situation arises. From the viewpoint of the CCRF, such legal construction is possible. Still, such term obviously infringes upon the client’s rights, since it actually “forces” the client to make a gift, whether there was such intention or not" – Alexander Rudyakov explained.
Rankings and Partners
